[Federal Register Volume 83, Number 226 (Friday, November 23, 2018)]
[Notices]
[Pages 59383-59385]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-25425]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request (OMB No. 3064-0117; -0145; and -0152)

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its obligations under the Paperwork 
Reduction Act of 1995 (PRA), invites the general public and other 
Federal agencies to take this opportunity to comment on the renewal of 
the existing information collections described below.

DATES: Comments must be submitted on or before January 22, 2019.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     https://www.FDIC.gov/regulations/laws/federal.
     Email: [email protected]. Include the name and number of 
the collection in the subject line of the message.
     Mail: Manny Cabeza (202-898-3767), Counsel, MB-3007, 
Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, 
DC 20429.
     Hand Delivery: Comments may be hand-delivered to the guard 
station at the rear of the 17th Street NW building (located on F 
Street), on business days between 7:00 a.m. and 5:00 p.m.
    All comments should refer to the relevant OMB control number. A 
copy of the comments may also be submitted to the OMB desk officer for 
the FDIC: Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Washington, DC 
20503.

FOR FURTHER INFORMATION CONTACT: Manny Cabeza, Counsel, 202-898-3767, 
[email protected], MB-3007, Federal Deposit Insurance Corporation, 550 
17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION: 

Proposal To Renew the Following Currently Approved Collections of 
Information

    1. Title: Multi-to-Stock Conversion of State Savings Banks.
    OMB Number: 3064-0117.
    Form Number: None.
    Affected Public: Insured state savings associations.
    Burden Estimate:

[[Page 59384]]



                                                                Summary of Annual Burden
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                                                                                                                                                Total
                                                                                 Estimated    Estimated    Estimated                            annual
                                       Type of burden         Obligation to      number of    frequency     time per       Frequency of       estimated
                                                                 respond        respondents       of        response         response           burden
                                                                                              responses     (hours)                            (hours)
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Multi-to-Stock Conversion of State  Reporting...........  Mandatory...........            5            1    250 hours  On Occasion.........       1,250.
 Savings Bank.
    Total Hourly Burden...........  ....................  ....................  ...........  ...........  ...........  ....................        1,250
                                                                                                                                                  hours.
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General Description of Collection

    State savings associations must file a notice of intent to convert 
to stock form, and provide the FDIC with copies of documents filed with 
state and federal banking and/or securities regulators in connection 
with any proposed mutual-to-stock conversion.
    There is no change in the method or substance of the collection. 
The overall reduction in burden hours is the result of economic 
fluctuation. In particular, the number of respondents has decreased 
while the hours per response and frequency of responses have remained 
the same.
    2. Title: Notice Regarding Unauthorized Access to Customer 
Information.
    OMB Number: 3064-0145.
    Form Number: None.
    Affected Public: Insured state nonmember banks.
    Burden Estimate:

                                            Summary of Annual Burden
----------------------------------------------------------------------------------------------------------------
                                                                                                       Total
                                                    Estimated    Estimated time    Frequency of      estimated
                                Type of burden      number of     per response       response      annual burden
                                                   respondents       (hours)                           hours
----------------------------------------------------------------------------------------------------------------
Implementation (One Time):
    Develop Policies and       Recordkeeping...               2              24  1..............              48
     Procedures for Response
     Program.
Ongoing:
    Notice Regarding           Third Party                  315        36 hours  On Occasion....          11,340
     Unauthorized Access to     Disclosure.
     Customer Information.
                                                --------------------------------                 ---------------
        Total Estimated        ................  ..............  ..............  ...............          11,388
         Annual Burden.
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General Description of Collection:

    The Interagency Guidance on Response Programs for Unauthorized 
Access to Customer Information and Customer Notice describes the 
federal banking agencies' expectations regarding a response program, 
including customer notification procedures, that a financial 
institution should develop and apply under the circumstances described 
in the Guidance to address unauthorized access to or use of customer 
information that could result in substantial harm or inconvenience to a 
customer. The Guidance advises financial institutions when and how they 
might: (1) Develop notices to customers; (2) in certain circumstances 
defined in the Guidance, determine which customers should receive the 
notices and (3) send the notices to customers.
    There is no change in the method or substance of the information 
collection. With respect to the third party disclosure requirements 
associated with providing notices regarding unauthorized access to 
customer information, the FDIC revised its estimate of the response 
time from 29 hours per response to 36 hours per response. The agency 
also revised its estimate of the number of annual respondents from 80 
to 315 to reflect current industry trend data.
    3. Title: Identity Theft Red Flags.
    OMB Number: 3064-0152.
    Form Number: None.
    Affected Public: Insured state nonmember banks.
    Burden Estimate:

                                                                Summary of Annual Burden
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                                                                                                                                                Total
                                                                                 Estimated    Estimated    Estimated                            annual
                                       Type of burden         Obligation to      number of    frequency     time per       Frequency of       estimated
                                                                 respond        respondents       of        response         response           burden
                                                                                              responses     (hours)                            (hours)
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FACT Act Sections 114 and 315--     Recordkeeping.......  Mandatory...........        3,575            1           16  On Occasion.........       57,200
 Establish policies and Procedures.
FACT Act Section 315--Establish     Third-Party           Mandatory...........        3,575            1            4  On Occasion.........       14,300
 policies and Procedures.            Disclosure.
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    Total Hourly Burden...........  ....................  ....................  ...........  ...........  ...........  ....................      71, 500
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[[Page 59385]]

General Description of Collection

    The regulation containing this information collection requirement 
is 12 CFR part 334, which implements sections 114 and 315 of the Fair 
and Accurate Credit Transactions Act of 2003 (FACT Act), Public Law 
108-159 (2003).
    FACT Act Section 114: Section 114 requires the Board of Governors 
of the Federal Reserve System, the Office of the Comptroller of the 
Currency and the FDIC (the Agencies) to jointly propose guidelines for 
financial institutions and creditors identifying patterns, practices, 
and specific forms of activity that indicate the possible existence of 
identity theft. In addition, each financial institution and creditor is 
required to establish reasonable policies and procedures to address the 
risk of identity theft that incorporate the guidelines. Credit card and 
debit card issuers must develop policies and procedures to assess the 
validity of a request for a change of address under certain 
circumstances. The information collections pursuant to section 114 
require each financial institution and creditor to create an Identity 
Theft Prevention Program and report to the board of directors, a 
committee thereof, or senior management at least annually on compliance 
with the proposed regulations. In addition, staff must be trained to 
carry out the program. Each credit and debit card issuer is required to 
establish policies and procedures to assess the validity of a change of 
address request. The card issuer must notify the cardholder or use 
another means to assess the validity of the change of address.
    FACT Act Section 315: Section 315 requires the Agencies to issue 
regulations providing guidance regarding reasonable policies and 
procedures that a user of consumer reports must employ when such a user 
receives a notice of address discrepancy from a consumer reporting 
agencies. Part 334 provides such guidance. Each user of consumer 
reports must develop reasonable policies and procedures that it will 
follow when it receives a notice of address discrepancy from a consumer 
reporting agency. A user of consumer reports must furnish an address 
that the user has reasonably confirmed to be accurate to the consumer 
reporting agency from which it receives a notice of address 
discrepancy.
    There is no change in the method or substance of the information 
collection. The total estimated annual burden hours have increased 
because of the inclusion of the agency's estimate of third-party 
disclosure burden associated with the notices required by Section 315 
of the FACT Act which were previously not included because the agencies 
had taken the position that the entities covered by the regulation were 
already furnishing addresses that they had reasonably confirmed to be 
accurate to consumer reporting agencies from which they receive a 
notice of address discrepancy as a usual and customary business 
practice. The above burden estimate now includes burden for the third-
party disclosure requirements associated with Section 315 which 
resulted in an increase in estimated annual burden of 14, 300 hours. 
This increase was offset, in part, by a reduction in the estimated 
number of respondents from 4, 017 to 3,575 which resulted in a decrease 
in the estimated annual burden for the recordkeeping requirement 
associated with Sections 114 and 315 from 64, 272 hour to 57,200 hours. 
The net effect of the revision is an increase in estimated annual 
burden from 64,272 hours to 71,500 hours.

Request for Comment

    Comments are invited on: (a) Whether the collection of information 
is necessary for the proper performance of the FDIC's functions, 
including whether the information has practical utility; (b) the 
accuracy of the estimates of the burden of the information collection, 
including the validity of the methodology and assumptions used; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. All 
comments will become a matter of public record.

    Dated at Washington, DC, on November 16, 2018.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2018-25425 Filed 11-21-18; 8:45 am]
BILLING CODE 6714-01-P