[Federal Register Volume 84, Number 22 (Friday, February 1, 2019)]
[Notices]
[Pages 1120-1121]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-00561]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request (OMB No. 3064-0136 and -0171)

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 (control Numbers 
3064-0136 and 3064-0171). On November 2, 2018, the FDIC requested 
comment for 60 days on a proposal to renew these information 
collections. No comments were received. The FDIC hereby gives notice of 
its plan to submit to OMB a request to approve the renewal of these 
collections, and again invites comment on their renewal.

DATES: Comments must be submitted on or before March 4, 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: Jennifer Jones (202-898-6768), Counsel, MB-3105, 
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 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: Jennifer Jones, Counsel, 202-898-6768, 
[email protected], MB-3105, Federal Deposit Insurance Corporation, 550 
17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION: On November 2, 2018, the FDIC requested 
comment for 60 days on a proposal to renew the information collections 
described below.\1\ No comments were received. The FDIC hereby gives 
notice of its plan to submit to OMB a request to approve the renewal of 
these collections, and again invites comment on these renewals.
    Proposal to renew the following currently approved collections of 
information:
    1. Title: Privacy of Consumer Information.
    OMB Number: 3064-0136.
    Form Number: None.
    Affected Public: Insured state nonmember banks and consumers.

Burden Estimate

                                                                Summary of Annual Burden
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                                                                          Estimated       Estimated                                        Total annual
                                   Type of burden     Obligation to       number of     frequency of   Estimated time     Frequency of       estimated
                                                         respond         respondents      responses     per response        response      burden (hours)
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Consumer Opt-Out/Status Update.  Reporting........  Voluntary........         404,921               1             .25  On Occasion......      101,230.25
Annual Notice and Change in      Third-Party        Mandatory........           3,493               1               8  On Occasion......          27,944
 Terms.                           Disclosure.
Initial Notice to Consumers....  Third-Party        Mandatory........             156               1              60  On Occasion......           9,360
                                  Disclosure.
Opt-Out Notice.................  Third-Party        Mandatory........             349               1               8  On Occasion......           2,792
                                  Disclosure.
                                                                      ----------------------------------------------------------------------------------
    Total Hourly Burden........  .................  .................  ..............  ..............  ..............  .................      141,326.25
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General Description of Collection

    The elements of this collection are required under sections 503 and 
504 of the Gramm-Leach-Bliley Act, 15 U.S.C. 6803, 6804. The collection 
mandates notice requirements and restrictions on a financial 
institution's ability to disclose nonpublic personal information about 
consumers to nonaffiliated third parties.
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    \1\ 83 FR 55167 (November 2, 2018).
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    There is no change in the method or substance of the collection. 
However, the FDIC has reviewed its previous PRA submission and has 
reassessed its burden hours associated with responding to the existing 
requirements of sections 503 and 504 of the Gramm-Leach-Bliley Act. In 
particular, the time to comply with sections 503 and 504 has decreased 
due to streamlined and technological advances. In addition, the FDIC 
has also updated its estimated number of respondents based on available 
information. The overall decrease in burden hours is the result of 
these changes.
    2. Title: Registration of Mortgage Loan Originators (SAFE Act).
    OMB Number: 3064-0171.
    Form Number: None.
    Affected Public: FDIC Supervised Institutions and Employee Mortgage 
Loan Originators.

Burden Estimate

[[Page 1121]]



                                                                Summary of Annual Burden
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                                                                            Estimated       Estimated                                      Total annual
                                   Type of burden       Obligation to       number of     frequency of     Estimated time   Frequency of     estimated
                                                           respond         respondents      responses       per response      response    burden (hours)
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Financial Institution Policies   Recordkeeping.....  Mandatory.........           3,575               1  20 hours.........  On Occasion.          71,500
 and Procedures for Ensuring
 Employee-Mortgage Loan
 Originator Compliance With
 S.A.F.E. Act Requirements.
Financial Institution            Recordkeeping.....  Mandatory.........           3,575               1  60 hours.........  On Occasion.         214,500
 Procedures to Track and
 Monitor Compliance with
 S.A.F.E. Act Compliance.
Financial Institution            Recordkeeping.....  Mandatory.........           3,575               1  20 hours.........  On Occasion.          71,500
 Procedures for the Collection
 and Maintenance of Employee
 Mortgage Loan Originator's
 Criminal History Background
 Reports.
Financial Institution            Third Party         Mandatory.........           3,575               1  25 hours.........  On Occasion.          89,375
 Procedures for Public            Disclosure.
 Disclosure of Mortgage Loan
 Originator's Unique Identifier.
Financial Institution            Reporting.........  Mandatory.........           3,575               1  15 minutes.......  On Occasion.          893.75
 Information Reporting to
 Registry.
Mortgage Loan Originator         Reporting.........  Mandatory.........          88,646               1  15 minutes.......  On Occasion.       22,161.50
 Initial and Annual Renewal
 Registration Reporting and
 Authorization Requirements.
Mortgage Loan Originator         Reporting.........  Mandatory.........          38,118               1  15 minutes.......  On Occasion.        9,529.50
 Registration Updates Upon
 Change in Circumstances.
Financial Institution            Recordkeeping.....  Mandatory.........           3,575               1  4 hours..........  On Occasion.          14,300
 Procedures for the Collection
 of Employee Mortgage Loan
 Originator's Fingerprints.
Mortgage Loan Originator         Third Party         Mandatory.........          88,646               1  1 hour...........  On Occasion.          88,646
 Procedures for Disclosure to     Disclosure.
 Consumers of Unique Identifier.
                                                                        --------------------------------------------------------------------------------
    Total Hourly Burden........  ..................  ..................  ..............  ..............  .................  ............      582,405.75
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General Description of Collection

    This information collection implements the Secure and Fair 
Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) requirement 
that employees of Federally-regulated institutions who engage in the 
business of a mortgage loan originator to register with the Nationwide 
Mortgage Licensing System and Registry and establishes national 
licensing and registration requirements. It also directs Federally-
regulated institutions to have written policies and procedures in place 
to ensure that their employees who perform mortgage loan originations 
comply with the registration and other SAFE Act requirements.
    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.

    Dated at Washington, DC, on January 28, 2019.

Federal Deposit Insurance Corporation.
Valerie Best,
Assistant Executive Secretary.
[FR Doc. 2019-00561 Filed 1-31-19; 8:45 am]
 BILLING CODE 6714-01-P