[Federal Register Volume 76, Number 130 (Thursday, July 7, 2011)]
[Notices]
[Page 39989]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-16942]



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 DEPARTMENT OF THE TREASURY



Office of the Comptroller of the Currency



[Docket ID OCC-2011-0012]




Guidance on Deposit-Related Consumer Credit Products



AGENCY: Office of the Comptroller of the Currency, Treasury (OCC).



ACTION: Extension of comment period.



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SUMMARY: On June 8, 2011, the OCC published in the Federal Register a 

proposed guidance with request for comment to clarify the OCC's 

application of the principles of safe and sound banking practices in 

connection with deposit-related consumer credit products such as 

automated overdraft protection and direct deposit advance programs.

    Due to the complexity of the proposed guidance, and to allow 

parties more time to consider its potential impact, the OCC has 

determined that an extension of the comment period until August 7, 2011 

is appropriate. This action will allow interested persons additional 

time to analyze the proposed guidance and prepare their comments.



DATES: Comments must be submitted on or before August 7, 2011.



ADDRESSES: Because paper mail in the Washington, DC area and at the OCC 

is subject to delay, commenters are encouraged to submit comments by e-

mail, if possible. Please use the title ``Guidance on Deposit-Related 

Consumer Credit Products'' to facilitate the organization and 

distribution of the comments. You may submit comments by any of the 

following methods:

     E-mail: [email protected].

     Mail: Office of the Comptroller of the Currency, 250 E 

Street, SW., Mail Stop 2-3, Washington, DC 20219.

     Fax: (202) 874-5274.

     Hand Delivery/Courier: 250 E Street, SW., Mail Stop 2-3, 

Washington, DC 20219.

    Instructions: You must include ``OCC'' as the agency name and 

``Docket ID OCC-2011-0012'' in your comment. In general, OCC will enter 

all comments received into the docket and publish them on the 

Regulations.gov Web site without change, including any business or 

personal information that you provide such as name and address 

information, e-mail addresses, or phone numbers. Comments received, 

including attachments and other supporting materials, are part of the 

public record and subject to public disclosure. Do not enclose any 

information in your comment or supporting materials that you consider 

confidential or inappropriate for public disclosure.

    You may review comments and other related materials that pertain to 

this notice by any of the following methods:

     Viewing Comments Personally: You may personally inspect 

and photocopy comments at the OCC, 250 E Street, SW., Washington, DC. 

For security reasons, the OCC requires that visitors make an 

appointment to inspect comments. You may do so by calling (202) 874-

4700. Upon arrival, visitors will be required to present valid 

government-issued photo identification and to submit to security 

screening in order to inspect and photocopy comments.

     Docket: You may also view or request available background 

documents and project summaries using the methods described above.



FOR FURTHER INFORMATION CONTACT: Michael S. Bylsma, Director, Community 

and Consumer Law Division, (202) 874-5750; Grovetta Gardineer, Deputy 

Comptroller for Compliance Policy, (202) 874-4428; or Kevin Russell, 

Director, Retail Credit Risk, (202) 874-5170, Office of the Comptroller 

of the Currency, 250 E Street, SW., Washington, DC 20219.



SUPPLEMENTARY INFORMATION: On June 8, 2011, the proposed guidance was 

published in the Federal Register.\1\ The proposed guidance would 

detail the principles that the OCC expects national banks to follow in 

connection with any deposit-related consumer credit product to address 

potential operational, reputational, compliance, and credit risks. The 

request for comment stated that the public comment period would close 

on July 8, 2011.\2\

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    \1\ See 76 FR 33,409.

    \2\ See id.

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    Pursuant to Title III of the Dodd-Frank Wall Street Reform and 

Consumer Protection Act, effective July 21, 2011, all functions of the 

Office of Thrift Supervision (OTS) and the Director of the OTS relating 

to Federal savings associations is transferred to the OCC. As a result, 

the OCC will assume responsibilities for the ongoing examination, 

supervision, and regulation of Federal savings associations. Any final 

guidance on deposit-based credit products in effect for national banks 

on or after July 21, 2011 will also apply to Federal savings 

associations.

    The OCC has received requests from the public for an extension of 

the comment period. In order to allow parties, particularly Federal 

savings associations, additional time to consider the impact of the 

proposal, the OCC is extending the deadline for submitting comments on 

the proposed guidance from July 8, 2011 to August 7, 2011.



    Dated: June 30, 2011.

John Walsh,

Acting Comptroller of the Currency.

[FR Doc. 2011-16942 Filed 7-6-11; 8:45 am]

BILLING CODE 4810-33-P