[Federal Register Volume 83, Number 44 (Tuesday, March 6, 2018)]
[Notices]
[Pages 9518-9520]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-04527]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2018-N-2]


Privacy Act of 1974; System of Records

AGENCY: Federal Housing Finance Agency.

ACTION: Notice of a modified system of records.

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SUMMARY: In accordance with the requirements of the Privacy Act of 
1974, as amended, (Privacy Act), the Federal Housing Finance Agency 
(FHFA) is making a revision to an existing system of records entitled 
``Suspended Counterparty System'' (FHFA-23). The Suspended Counterparty 
System contains information that FHFA uses to implement the Suspended 
Counterparty Program by which the Federal National Mortgage Association 
(Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), 
and the eleven Federal Home Loan Banks (Banks) are required to submit 
reports to FHFA when they become aware that an individual or 
institutions and any

[[Page 9519]]

affiliates thereof, who are currently or have been engaged in a covered 
transaction with a regulated entity within three years of when the 
regulated entity becomes aware of covered misconduct, have engaged in 
fraud or other financial misconduct.

DATES: To be assured of consideration, comments must be received on or 
before April 5, 2018. The revisions to the existing system will become 
effective on April 5, 2018 without further notice unless comments 
necessitate otherwise. FHFA will publish a new notice if the effective 
date is delayed to review comments or if changes are made based on 
comments received.

ADDRESSES: Submit comments to FHFA, identified by ``2018-N-2,'' using 
any one of the following methods:
     Agency website: www.fhfa.gov/open-for-comment-or-input.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments. If you submit your 
comment to the Federal eRulemaking Portal, please also send it by email 
to FHFA at [email protected] to ensure timely receipt by FHFA. 
Please include ``Comments/No. 2018-N-2'' in the subject line of the 
message.
     Hand Delivered/Courier: The hand delivery address is: 
Alfred M. Pollard, General Counsel, Attention: Comments/No. 2018-N-2, 
Federal Housing Finance Agency, 400 7th Street SW, Eighth Floor, 
Washington, DC 20219. The package should be delivered to the 7th Street 
entrance Guard Desk, First Floor, on business days between 9 a.m. and 5 
p.m.
     U.S. Mail, United Parcel Service, Federal Express, or 
Other Mail Service: The mailing address for comments is: Alfred M. 
Pollard, General Counsel, Attention: Comments/No. 2018-N-2, Federal 
Housing Finance Agency, 400 7th Street SW, Eighth Floor, Washington, DC 
20219. Please note that all mail sent to FHFA via the U.S. Postal 
Service is routed through a national irradiation facility, a process 
that may delay delivery by approximately two weeks. For any time-
sensitive correspondence, please plan accordingly.
    See SUPPLEMENTARY INFORMATION for additional information on 
submission and posting of comments.

FOR FURTHER INFORMATION CONTACT: Tasha Cooper, Associate General 
Counsel, [email protected] or (202) 649-3091; Stacy Easter, Privacy 
Act Officer, [email protected] or (202) 649-3803; or David A. Lee, 
Senior Agency Official for Privacy, [email protected] or (202) 649-3803 
(not toll-free numbers), Federal Housing Finance Agency, Eighth Floor, 
400 7th Street SW, Washington, DC 20219. The telephone number for the 
Telecommunications Device for the Deaf is 800-877-8339.

SUPPLEMENTARY INFORMATION:

I. Comments

    FHFA seeks public comments on the revision to the system of records 
and will take all comments into consideration. See 5 U.S.C. 552a(e)(4) 
and (11). In addition to referencing ``Comments/No. 2018-N-2,'' please 
reference the ``Suspended Counterparty System'' (FHFA-23).
    All comments received will be posted without change on the FHFA 
website at http://www.fhfa.gov, and will include any personal 
information provided, such as name, address (mailing and email), 
telephone numbers, and any other information you provide. In addition, 
copies of all comments received will be available for public inspection 
on business days between the hours of 10 a.m. and 3 p.m., at the 
Federal Housing Finance Agency, 400 7th Street SW, Washington, DC 
20219. To make an appointment to inspect comments, please call the 
Office of General Counsel at (202) 649-3804.

II. Introduction

    This notice informs the public of FHFA's proposed revisions to an 
existing system of records. This notice satisfies the Privacy Act 
requirement that an agency publish a system of records notice in the 
Federal Register when there is an addition or change to an agency's 
system of records. Congress has recognized that application of all 
requirements of the Privacy Act to certain categories of records may 
have an undesirable and often unacceptable effect upon agencies in the 
conduct of necessary public business. Consequently, Congress 
established general exemptions and specific exemptions that could be 
used to exempt records from provisions of the Privacy Act. Congress 
also required that exempting records from provisions of the Privacy Act 
would require the head of an agency to publish a determination to 
exempt a record from the Privacy Act as a rule in accordance with the 
Administrative Procedure Act. The Director of FHFA has determined that 
records and information in this system of records are not exempt from 
the requirements of the Privacy Act.
    As required by the Privacy Act, 5 U.S.C. 552a(r), and pursuant to 
section 7 of OMB Circular No. A-108, ``Federal Agency Responsibilities 
for Review, Reporting, and Publication under the Privacy Act,'' dated 
December 23, 2016 (81 FR 94424 (Dec. 23, 2016)), prior to publication 
of this notice, FHFA submitted a report describing the revisions to the 
system of records covered by this notice to the Office of Management 
and Budget, the Committee on Oversight and Government Reform of the 
House of Representatives, and the Committee on Homeland Security and 
Governmental Affairs of the Senate.

III. Revised System of Records

    The ``Suspended Counterparty System'' (FHFA-23) system of records 
is being revised to change the name to ``Suspended Counterparty Program 
System,'' expand the purpose of the system, and to add three new 
routine uses. The name change is to more accurately reflect the system 
and program. The current purpose of the system is to receive reports 
from the Federal National Mortgage Association (Fannie Mae), the 
Federal Home Loan Mortgage Corporation (Freddie Mac), and the eleven 
Federal Home Loan Banks (FHLBanks) when they become aware that an 
individual or institutions and any affiliates thereof, who are 
currently or have been engaged in a covered transaction with a 
regulated entity within three years of when the regulated entity 
becomes aware of the covered misconduct, have engaged in fraud or other 
financial misconduct. FHFA is proposing to expand the purpose of the 
system to include collecting information from other organizations and 
entities, besides Fannie Mae, Freddie Mac and the FHLBanks, that 
voluntarily submit reports to FHFA about counterparties that have 
engaged in covered misconduct as defined in the Suspended Counterparty 
Regulation at 12 CFR 1227.2.
    The three new routine uses will permit FHFA to share information in 
the Suspended Counterparty System with Fannie Mae, Freddie Mac and the 
FHLBanks (hereinafter ``regulated entities); with state and federal 
housing or financial regulators; and state or federal professional 
licensing agencies.
    The revisions to the system of records notice is described in 
detail below. All other aspects of the system of records notice, other 
than the changes described below, remain unchanged.
SYSTEM NAME AND NUMBER:
    Suspended Counterparty Program System FHFA-23.

SECURITY CLASSIFICATION:
    Sensitive but unclassified.

[[Page 9520]]

SYSTEM LOCATION:
    Federal Housing Finance Agency, 400 Seventh Street SW, Washington, 
DC 20219, and any alternate work site utilized by employees of the 
Federal Housing Finance Agency (FHFA) or by individuals assisting such 
employees.

SYSTEM MANAGER(S):
    Office of General Counsel, Federal Housing Finance Agency, 400 
Seventh Street SW, Washington, DC 20219.

PURPOSE(S) OF THE SYSTEM:
    The purpose of the System is expanded to include collecting 
information from other organizations and entities that voluntarily 
submit reports to FHFA about counterparties that have engaged in 
covered misconduct as defined in the Suspended Counterparty Regulation 
at 12 CFR 1227.2.

ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES 
OF USERS AND THE PURPOSE OF SUCH USES:
    (13) To an FHFA regulated entity.
    (14) To state and federal housing or financial regulators.
    (15) To state or federal professional licensing agencies.

HISTORY:
    The FHFA Suspended Counterparty System (FHFA-23) system of records 
was last published in the Federal Register on November 25, 2014 (79 FR 
70181).

    Dated: February 28, 2018.
Melvin L. Watt,
Director, Federal Housing Finance Agency.
[FR Doc. 2018-04527 Filed 3-5-18; 8:45 am]
 BILLING CODE 8070-01-P