[Federal Register Volume 84, Number 144 (Friday, July 26, 2019)]
[Notices]
[Pages 36162-36164]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-15862]


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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; Privacy of Consumer Financial 
Information

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

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 a continuing 
information collection as required by the Paperwork Reduction Act of 
1995 (PRA).
    In accordance with the requirements of the PRA, the OCC 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 the renewal of its 
information collection titled, ``Privacy of Consumer Financial 
Information.'' The OCC also is giving notice that it has sent the 
collection to OMB for review.

DATES: Comments must be received on or before August 26, 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, Attention: Comment 
Processing, 1557-0216, Office of the Comptroller of the Currency, 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.

[[Page 36163]]

    Instructions: You must include ``OCC'' as the agency name and 
``1557-0216'' 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, 1557-0216, 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 April 15, 2019, the OCC published a 60-day notice for 
this information collection, 84 FR 15290.
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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 ``1557-0216'' or ``Privacy of Consumer Financial Information''. 
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, 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 information collection 
in this notice.
    Title: Privacy of Consumer Financial Information.
    OMB Control No.: 1557-0216.
    Description: The Gramm-Leach-Bliley Act (Act) (Pub. L. 106-102) 
requires this information collection. Regulation P (12 CFR part 1016), 
a regulation promulgated by the Consumer Financial Protection Board 
(CFPB), implements the Act's notice requirements and restrictions on a 
financial institution's ability to disclose nonpublic personal 
information about consumers to nonaffiliated third parties.
    The information collection requirements in 12 CFR part 1016 are as 
follows:
    Sec.  1016.4(a) Initial privacy notice to consumers requirement--A 
national bank or federal savings association must provide a clear and 
conspicuous notice to customers and consumers that accurately reflects 
its privacy policies and practices.
    Sec.  1016.5(a)(1) Annual privacy notice to customers requirement--
A national bank or federal savings association must provide a clear and 
conspicuous notice to customers that accurately reflects its privacy 
policies and practices not less than annually during the continuation 
of the customer relationship.
    Sec.  1016.8 Revised privacy notices--Before a national bank or 
federal savings association discloses any nonpublic personal 
information in a way that is inconsistent with the notices previously 
given to a consumer, the institution must provide the consumer with a 
clear and conspicuous revised notice of the institution's policies and 
practices, provide the consumer with a new opt out notice, give the 
consumer a reasonable opportunity to opt out of the disclosure, and the 
consumer must not opt out.
    Sec.  1016.7(a) Form of opt out notice to consumers; opt out 
methods--Form of opt out notice--If a national bank or federal savings 
association is required to provide an opt out notice under Sec.  
1016.10(a), it must provide to each of its consumers a clear and 
conspicuous notice that accurately explains the right to opt out under 
that section. The notice must state:
     That the national bank or federal savings association 
discloses or reserves the right to disclose nonpublic personal 
information about its consumer to a nonaffiliated third party;
     That the consumer has the right to opt out of that 
disclosure; and
     A reasonable means by which the consumer may exercise the 
opt out right.
    A national bank or federal savings association provides a 
reasonable means to exercise an opt out right if it:
     Designates check-off boxes on the relevant forms with the 
opt out notice;
     Includes a reply form with the opt out notice;
     Provides an electronic means to opt out; or
     Provides a toll-free number that consumers may call to opt 
out.

    Sec. Sec.  1016.10(a)(2) and 1016.10(c)--Consumers must take 
affirmative actions to exercise their rights to prevent financial 
institutions from sharing their information with nonaffiliated 
parties--

     Opt out--Consumers may direct that the national bank or 
federal savings association to not disclose nonpublic personal 
information about them to a nonaffiliated third party, other than 
permitted by Sec. Sec.  1016.13-1016.15.
     Partial opt out--Consumers may exercise partial opt out 
rights by selecting certain nonpublic personal information or certain 
nonaffiliated third parties with respect to which the consumer wishes 
to opt out.
    Sec. Sec.  1016.7(h) and 1016.7(i) Continuing right to opt out and 
Duration of right to opt out--A consumer may exercise the right to opt 
out at any time. A consumer's direction to opt out is effective until 
the consumer revokes it in writing or, if the consumer agrees, 
electronically. When a customer relationship terminates, the customer's 
opt out direction continues to apply to the nonpublic personal 
information collected during or related to that relationship.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit; individuals.
    Frequency of Response: On occasion. Estimated Annual Number of 
Respondents: 2,451,659.
    Estimated Total Annual Burden Hours: 626,011.25 hours.
    On April 15, 2019, the OCC issued a notice for 60 days of comment

[[Page 36164]]

concerning this collection, 84 FR 15290. No comments were received. 
Comments continue to be invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the OCC, including whether the 
information has practical utility;
    (b) The accuracy of the OCC's estimate of the burden of the 
collection of information;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of the collection on respondents, 
including through 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: July 18, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-15862 Filed 7-25-19; 8:45 am]
 BILLING CODE 4810-33-P