[Federal Register Volume 79, Number 119 (Friday, June 20, 2014)]
[Notices]
[Pages 35412-35413]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-14391]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Loans in Areas Having Special Flood Hazards

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

ACTION: Notice and request for comment.

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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to take this opportunity to comment on a continuing 
information collection, as required by the Paperwork Reduction Act of 
1995 (PRA).
    Under the PRA, Federal agencies are required to publish notice in 
the Federal Register concerning each proposed collection of 
information, including each proposed extension of an existing 
collection of information, and to allow 60 days for public comment in 
response to the notice.
    In accordance with the requirements of the PRA, the OCC may not 
conduct or sponsor, and the respondent is not required to respond to, 
an information collection unless it displays a currently valid Office 
of Management and Budget (OMB) control number. The OCC is soliciting 
comment concerning its information collection titled, ``Loans in Areas 
Having Special Flood Hazards.''

DATES: You should submit written comments by: August 19, 2014.

ADDRESSES: Because paper mail in the Washington, DC area and at the OCC 
is subject to delay, commenters are encouraged to submit comments by 
email if possible. Comments may be sent to: Legislative and Regulatory 
Activities Division, Office of the Comptroller of the Currency, 
Attention: 1557-0202, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to 
(571) 465-4326 or by electronic mail to [email protected]. 
You may personally inspect and photocopy comments at the OCC, 400 7th 
Street SW., Washington, DC 20219. For security reasons, the OCC 
requires that visitors make an appointment to inspect comments. You may 
do so by calling (202) 649-6700. 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.
    All 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.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from Johnny Vilela or Mary H. Gottlieb, 
(202) 874-5090, for persons who are deaf or hard of hearing, TTY, (202) 
649-5597, Legislative and Regulatory Activities Division, Office of the 
Comptroller of the Currency, 250 E Street SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval 
of the following information collection:
    Title: Loans in Areas Having Special Flood Hazards--12 CFR part 22.
    OMB Control Number: 1557-0202.
    Description: The regulation requires national banks to make 
disclosures and keep records regarding whether a

[[Page 35413]]

property held as security for a loan is located in a special flood 
hazard area.
    This information collection is required by section 303(a) \1\ and 
title V of the Riegle Community Development and Regulatory Improvement 
Act,\2\ the National Flood Insurance Reform Act of 1994 amendments to 
the National Flood Insurance Act of 1968,\3\ the Flood Disaster 
Protection Act of 1973,\4\ and by OCC regulations implementing those 
statutes. The information collection requirements are contained in 12 
CFR part 22.
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    \1\ 12 U.S.C. 4804.
    \2\ 42 U.S.C. 4104(a).
    \3\ 12 U.S.C. 4104a and 4104b.
    \4\ 12 U.S.C. 4012a and 4106(b).
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    Section 22.6 requires a national bank to use the Standard Flood 
Hazard Determination Form developed by the Federal Emergency Management 
Agency (FEMA) and to maintain a completed copy of that form for the 
period of time the bank owns the loan.
    Section 22.7 requires a national bank or its loan servicer, if a 
borrower has not obtained flood insurance, to notify the borrower to 
obtain adequate flood insurance coverage or the bank or servicer will 
purchase flood insurance on the borrower's behalf.
    Section 22.9 requires a national bank making, extending, 
increasing, or renewing a loan secured by a building or a mobile home 
located in a special flood hazard area to advise the borrower and the 
loan servicer that the property is located in a special flood hazard 
area; provide a description of the flood insurance purchase 
requirements; and provide information regarding the availability of 
insurance under the National Flood Insurance Program and of Federal 
assistance in the event of a declared Federal flood disaster. In lieu 
of providing the borrower notice, a national bank may obtain a 
satisfactory written assurance from a seller or lessor that, within a 
reasonable time before completion of the sale or lease transaction, the 
seller or lessor provided such notice to the purchaser or lessee. For 
the period of time the bank owns the loan, the bank must maintain a 
record of the borrower's and loan servicer's receipts of these notices 
and, where appropriate, the written assurance from the seller or the 
lessor.
    Section 22.10 requires a national bank making, increasing, 
extending, renewing, selling, or transferring a loan secured by a 
building or a mobile home located in a special flood hazard area to 
notify FEMA of the identity of the servicer, and of any change in 
servicers.
    These information collection requirements ensure bank compliance 
with applicable Federal law, further bank safety and soundness, provide 
protections for banks and the public, and further public policy 
interests.
    Type of Review: Regular review.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 2,251.
    Estimated Responses per Respondent: 2,729.
    Estimated Total Annual Responses: 6,142,979.
    Estimated Frequency of Response: On occasion.
    Estimated Total Annual Burden: 363,012 hours.
    An agency may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection unless the 
information collection displays a currently valid OMB control number.
    Comments submitted in response to this notice will be summarized 
and included in the request for OMB approval. All comments become a 
matter of public record. Comments are invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the OCC, including whether the 
information shall have practical utility;
    (b) The accuracy of the OCC's estimate of the burden of the 
collection of information;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of the collection on respondents, 
including through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: June 16, 2014.
Stuart E. Feldstein,
Director, Legislative & Regulatory Activities Division.
[FR Doc. 2014-14391 Filed 6-19-14; 8:45 am]
BILLING CODE 4810-33-P