[Federal Register Volume 85, Number 173 (Friday, September 4, 2020)]
[Notices]
[Pages 55287-55288]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-19629]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0099;-0149]


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request

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 (OMB Control No. 
3064-0099;-0149).

DATES: Comments must be submitted on or before November 3, 2020.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     Agency Website: 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), Regulatory Counsel, MB-
3128, 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

[[Page 55288]]

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, Regulatory Counsel, 202-
898-3767, [email protected], MB-3128, 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: Application for Waiver of Prohibition on Acceptance of 
Brokered Deposits
    OMB Number: 3064-0099.
    Form Number: None.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimates:

                                                                Summary of Annual Burden
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                                                                               Estimated         Estimated
     Information collection         Type of  burden       Obligation to        number of       frequency of      Estimated time per    Estimated annual
           description                                       respond          respondents        responses            response              burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Application for Waiver of         Reporting..........  Mandatory..........              17  On Occasion.......  6 hours............  102 hours
 Prohibition on Acceptance of
 Brokered Deposits.
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    Total Estimated Annual Burden: 102 hours.
    General Description of Collection: Section 29 of the Federal 
Deposit Insurance Act prohibits undercapitalized insured depository 
institutions from accepting, renewing, or rolling over any brokered 
deposits. Adequately capitalized institutions may do so with a waiver 
from the FDIC, while well-capitalized institutions may accept, renew, 
or roll over brokered deposits without restriction. This information 
collection captures the burden associated with preparing and filing an 
application for a waiver of the prohibition on the acceptance of 
brokered deposits.
    2. Title: Affiliate Marketing/Consumer Opt-out Notices.
    OMB Number: 3064-0149.
    Form Number: None.
    Affected Public: Insured state nonmember banks and state savings 
associations that have affiliates and consumers that have a 
relationship with the foregoing.
    Burden Estimate:

                                                                Summary of Annual Burden
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                                                                               Estimated         Estimated
     Information collection          Type of burden       Obligation to        number of       frequency of      Estimated time per    Estimated annual
           description                                       respond          respondents        responses            response              burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Affiliate Marketing Disclosure--  Third-Party          Mandatory..........               8  Annually..........  6 hours............  144 hours
 Implementation.                   Disclosure.
Consumer Opt Out Notices........  Third-Party          Voluntary..........         857,027  Annually..........  5 minutes..........  71,419 hours
                                   Disclosure.
Affiliate Marketing Disclosure--  Third-Party          Mandatory..........             990  Annually..........  2 hours............  1,980 hours
 Ongoing.                          Disclosure.
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    Total Estimated Annual Burden: 73,543 hours.
    General Description of Collection: Section 214 of the FACT Act 
requires financial institutions that wish to share information about 
consumers with their affiliates, to inform such consumers that they 
have the opportunity to opt out of such marketing solicitations. The 
disclosure notices and consumer responses thereto comprise the elements 
of this collection of information.

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.

    Federal Deposit Insurance Corporation.
    Dated at Washington, DC, on September 1, 2020.
James P. Sheesley,
Acting Assistant Executive Secretary.
[FR Doc. 2020-19629 Filed 9-3-20; 8:45 am]
BILLING CODE 6714-01-P