[Federal Register Volume 79, Number 178 (Monday, September 15, 2014)]
[Notices]
[Pages 55069-55070]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-21845]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Submission for OMB Review; 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).
    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.'' The OCC is 
also giving notice that it has sent the collection to OMB for review.

DATES: You should submit written comments by: October 15, 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.
    Additionally, please send a copy of your comments by mail to: OCC 
Desk Officer, 1557-0202, U.S. Office of Management and Budget, 725 17th 
Street NW., #10235, Washington, DC 20503, or by email to: 
[email protected].

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 parts 22 
and 172.
    OMB Control Number: 1557-0202.
    Description: The regulations require national banks and Federal 
savings associations to make disclosures and keep records regarding 
whether a 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 parts 22 and 172.
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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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    Sections 22.6 and 172.6 require a national bank or Federal savings 
association to use the Standard Flood Hazard Determination Form 
developed by the Federal Emergency Management Agency (FEMA) and to 
maintain a

[[Page 55070]]

completed copy of that form for the period of time the bank or savings 
association owns the loan.
    Sections 22.7 and 172.7 require a national bank, Federal savings 
association, 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, savings association, or servicer will purchase 
flood insurance on the borrower's behalf.
    Sections 22.9 and 172.9 require a national bank or Federal savings 
association 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 or Federal savings association 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 national bank or Federal savings association owns the loan, 
the national bank or Federal savings association 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.
    Sections 22.10 and 172.10 require a national bank or Federal 
savings association 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 national bank and 
Federal savings association compliance with applicable Federal law, 
further bank or savings association safety and soundness, provide 
protections for financial institutions 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.
    The OCC issued a notice for this collection for 60 days of comment 
on June 20, 2014, (79 FR 35413). Comments continue to be 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: September 9, 2014.
Stuart E. Feldstein,
Director, Legislative & Regulatory Activities Division.
[FR Doc. 2014-21845 Filed 9-12-14; 8:45 am]
BILLING CODE 4810-33-P