[Federal Register Volume 84, Number 118 (Wednesday, June 19, 2019)]
[Notices]
[Pages 28625-28626]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-13007]
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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 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 take this opportunity 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). The OCC also is giving
notice that it has sent the collection to OMB for review.
DATES: Comments must be submitted on or before July 19, 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: Chief Counsel's Office, Office of the Comptroller of
the Currency, Attention: 1557-246, 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.
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-0246, U.S. Office of Management and Budget, 725 17th
Street NW, #10235, Washington, DC 20503 or by email to
[email protected].
You may review comments and other related materials that pertain to
this information collection \1\ following the close of the 30-day
comment period for this notice by any of the following methods:
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\1\ On February 5, 2019, the OCC published a 60-day notice for
this information collection, 84 FR 1822.
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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 et seq.),
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.
The OCC asks that OMB extend its approval of the collection.
Description: 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.
[[Page 28626]]
Type of Review: Regular.
Estimated number of respondents: 15.
Total estimated annual burden: 160 hours.
Frequency of Response: On occasion.
On February 5, 2019, the OCC issued a notice for 60 days of comment
concerning the collection, 84 FR 1822. No comments were received.
Comments continue to be 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: June 13, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-13007 Filed 6-18-19; 8:45 am]
BILLING CODE 4810-33-P