[Federal Register Volume 78, Number 246 (Monday, December 23, 2013)]
[Notices]
[Page 77555]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-30509]



[[Page 77555]]

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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

December 18, 2013.
    The Department of the Treasury is planning to submit the following 
information collection request to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, Public Law 104-13.

DATES: Comments should be received on or before February 21, 2014 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestion for reducing 
the burden, to James Gatz, Senior Program and Policy Advisor, Office of 
Consumer Policy, U.S. Department of the Treasury, 1500 Pennsylvania 
Ave. NW., Washington, DC 20220. (202) 622-3946.

FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be 
obtained by calling (202) 927-5331, email at [email protected], or the 
entire information collection request maybe found at www.reginfo.gov.

Departmental Offices

    OMB Number: 1505-0230.
    Type of Review: Extension.
    Title: Garnishment of Accounts Containing Federal Benefit Payments.
    Abstract: The rule establishes straightforward, uniform procedures 
that financial institutions must follow when a garnishment order is 
received for an account into which Federal benefit payments have been 
directly deposited. Financial institutions that comply with the 
required procedures are given a safe harbor under the rule. The rule 
requires a financial institution to review the account, to determine if 
any exempt benefit payments have been directly deposited within the 60 
calendar days prior to the receipt of the garnishment order, and, if 
so, requires the financial institution to ensure that the account 
holder has access to a protected amount of funds in the account. Once 
the account review is completed the financial institution must notify 
the accountholder of the receipt of the garnishment order and provide 
certain additional information. In addition, a financial institution 
must maintain certain records of account activity and actions taken in 
response to garnishment orders sufficient to demonstrate compliance 
with the rule.
    Affected Public: Businesses or other for-profit institutions.
    Estimated Total Annual Burden Hours: 24,167.

Dawn Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2013-30509 Filed 12-20-13; 8:45 am]
BILLING CODE 4810-25-P