[Federal Register Volume 84, Number 24 (Tuesday, February 5, 2019)]
[Notices]
[Pages 1822-1823]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-01075]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Reverse Mortgage Products: Guidance for 
Managing Compliance and Reputation Risks

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

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 comment on the renewal of an information collection, as 
required by the Paperwork Reduction Act of 1995 (PRA).
    An agency may not conduct or sponsor, and respondents are 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 renewal of its information 
collection titled ``Reverse Mortgage Products: Guidance for Managing 
Compliance and Reputation Risks'' (Guidance).

DATES: Comments must be submitted on or before April 8, 2019.

ADDRESSES: Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
     Email: [email protected].
     Mail: Legislative and Regulatory Activities Division, 
Office of the Comptroller of the Currency, Attention: 1557-0246, 400 
7th Street SW, Suite 3E-218, Washington, DC 20219.
     Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
     Fax: (571) 465-4326.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0246'' in your comment. In general, the OCC will publish 
comments on www.reginfo.gov without change, including any business or 
personal information provided, such as name and address information, 
email addresses, or phone numbers. Comments received, including 
attachments and other supporting materials, are part of the public 
record and subject to public disclosure. Do not include any information 
in your comment or supporting materials that you consider confidential 
or inappropriate for public disclosure.

[[Page 1823]]

    You may review comments and other related materials that pertain to 
this information collection beginning on the date of publication of the 
second notice for this collection \1\ by any of the following methods:
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    \1\ Following the close of the 60-day comment period for this 
notice, the OCC will publish a notice for 30 days of comment for 
this collection.
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     Viewing Comments Electronically: Go to www.reginfo.gov. 
Click on the ``Information Collection Review'' tab. Underneath the 
``Currently under Review'' section heading, from the drop-down menu, 
select ``Department of Treasury'' and then click ``submit.'' This 
information collection can be located by searching by OMB control 
number ``1557-0246'' or ``Reverse Mortgage Products: Guidance for 
Managing Compliance and Reputation Risks.'' Upon finding the 
appropriate information collection, click on the related ``ICR 
Reference Number.'' On the next screen, select ``View Supporting 
Statement and Other Documents'' and then click on the link to any 
comment listed at the bottom of the screen.
     For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.
     Viewing Comments Personally: You may personally inspect 
comments at the OCC, 400 7th Street SW, Washington, DC. For security 
reasons, the OCC requires that visitors make an appointment to inspect 
comments. You may do so by calling (202) 649-6700 or, for persons who 
are deaf or hearing impaired, TTY, (202) 649-5597. Upon arrival, 
visitors will be required to present valid government-issued photo 
identification and submit to security screening in order to inspect 
comments.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, 
(202) 649-5490 or, for persons who are deaf or hearing impaired, TTY, 
(202) 649-5597, Chief Counsel's Office, Office of the Comptroller of 
the Currency, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), federal 
agencies must obtain approval from the OMB for each collection of 
information that they conduct or sponsor. ``Collection of information'' 
is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency 
requests or requirements that members of the public submit reports, 
keep records, or provide information to a third party. Section 
3506(c)(2)(A) of title 44 requires federal agencies to provide a 60-day 
notice in the Federal Register concerning each proposed collection of 
information, including each proposed extension of an existing 
collection of information, before submitting the collection to OMB for 
approval. To comply with this requirement, the OCC is publishing this 
notice of the renewal of the collection of information set forth in 
this document.
    Description: On December 16, 2009, the OCC, Federal Deposit 
Insurance Corporation, Board of Governors of the Federal Reserve 
System, and the National Credit Union Administration issued final 
guidance entitled ``Reverse Mortgage Products: Guidance for Managing 
Compliance and Reputation Risk'' on August 17, 2010. \2\ The guidance 
focuses on the need to provide adequate information to consumers about 
reverse mortgage products, to provide qualified independent counseling 
to consumers considering these products, and to avoid potential 
conflicts of interest. The guidance also addresses related policies, 
procedures, internal controls, and third party risk management.
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    \2\ 75 FR 50801.
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    The information collection requirements contained in the guidance 
address the implementation of policies and procedures, training, and 
program maintenance. The guidance provides that institutions offering 
reverse mortgages should have written policies and procedures that 
prohibit the practice of directing a consumer to a particular 
counseling agency or contacting a counselor on the consumer's behalf.
    Title of Information Collection: Reverse Mortgage Products: 
Guidance for Managing Compliance and Reputation Risks.
    OMB Control No.: 1557-0246.
    Affected Public: National banks, federal savings associations, 
subsidiaries of national banks and federal savings associations, and 
federal branches or agencies of foreign banks.
    Type of Review: Regular.
    Estimated number of respondents: 15.
    Total estimated annual burden: 160 hours.
    Frequency of Response: On occasion.
    Comments submitted in response to this notice will be summarized, 
included in the request for OMB approval, and become a matter of public 
record. Comments are invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the OCC'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; (d) Ways to 
minimize the burden of the information collection on respondents, 
including 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: January 25, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-01075 Filed 2-4-19; 8:45 am]
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