[Federal Register Volume 85, Number 192 (Friday, October 2, 2020)]
[Notices]
[Pages 62367-62368]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-21855]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Record and Disclosure Requirements--Consumer
Financial Protection Bureau Regulations B, E, M, Z, and DD and Board of
Governors of the Federal Reserve System Regulation CC
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 comment on the renewal of an information collection, as
required by the Paperwork Reduction Act of 1995. An agency may not
conduct or sponsor, and a respondent is 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 an information collection titled,
``Record and Disclosure Requirements--Consumer Financial Protection
Bureau Regulations B, E, M, Z, and DD and Board of Governors of the
Federal Reserve System Regulation CC.''
DATES: Comments must be submitted on or before December 1, 2020.
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, Office of the Comptroller of the Currency, Attention: 1557-
0176, 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
``1557-0176'' 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.
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 the following method:
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\1\ Following the close of this notice's 60-day comment period,
the OCC will publish a second notice with a 30-day comment period.
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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 ``1557-0176'' or ``Record and Disclosure Requirements--Consumer
Financial Protection Bureau Regulations B, E, M, Z, and DD and Board of
Governors of the Federal Reserve System Regulation CC.'' 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.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer (202) 649-5490, Chief Counsel's Office, Office of the
Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219.
SUPPLEMENTARY INFORMATION:
Title: Record and Disclosure Requirements--Consumer Financial
Protection Bureau Regulations B, E, M, Z, and DD and Board of Governors
of the Federal Reserve System Regulation CC.
OMB Control No.: 1557-0176.
Type of Review: Regular review.
Description: This information collection covers Consumer Financial
Protection Board Regulations B, E, M, Z, and DD and Board of Governors
of the Federal Reserve System (FRB) Regulation CC. The CFPB and FRB
Regulations include the following provisions:
Regulation B--12 CFR 1002--Equal Credit Opportunity Act
This regulation prohibits lenders from discriminating against
credit applicants on certain prohibited bases. The regulation also
requires creditors to
[[Page 62368]]
notify applicants of action taken on their credit application, to
report credit history in the names of both spouses on an account, to
retain records of credit applications, to collect information about the
applicant's race and other personal characteristics in applications for
certain dwelling-related loans, and to provide applicants with copies
of appraisal reports used in connection with credit transactions.
Regulation E--12 CFR 1005--Electronic Fund Transfers 2
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\2\ This notice does not apply to the Prepaid Account Provisions
of Regulation E, which are approved under OMB Control No. 1557-0346.
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This regulation carries out the purposes of the Electronic Fund
Transfer Act (15 U.S.C. 1693 et seq.), which establishes the basic
rights, liabilities, and responsibilities of consumers who use
electronic fund transfers and remittance transfer services and the
financial institutions or other persons that offer these services.
Regulation M--12 CFR 1013--Consumer Leasing
This regulation implements the consumer leasing provisions of the
Truth in Lending Act, including by requiring meaningful disclosure of
leasing terms.
Regulation Z--12 CFR 1026--Truth in Lending
This regulation is intended to promote the informed use of consumer
credit by requiring disclosures about its terms and cost, to ensure
that consumers are provided with greater and more timely information on
the nature and costs of the residential real estate settlement process,
and to effect certain changes in the settlement process for residential
real estate that will result in more effective advance disclosure to
home buyers and sellers of settlement costs. The regulation gives
consumers the right to cancel certain credit transactions that involve
a lien on a consumer's principal dwelling, regulates certain credit
card practices, and provides a means for fair and timely resolution of
credit billing disputes. Other provisions include rules specific to
credit card accounts, certain dwelling-secured transactions, home-
equity plans, and private education loans.
Regulation DD--12 CFR 1030--Truth in Savings
This regulation requires depository institutions to provide
disclosures to enable consumers to make meaningful comparisons among
accounts at depository institutions.
Regulation CC--12 CFR 229--Availability of Funds and Collection of
Checks
This regulation includes timeframes to govern the availability of
funds deposited in checking accounts, rules to govern the collection
and return of checks and electronic checks, and general provisions to
govern the use of substitute checks.
Affected Public: Businesses or other for-profit.
Burden Estimates:
Estimated Number of Respondents: 1,110.
Estimated Annual Burden: 2,937,280 hours.
Frequency of Response: On occasion.
Comments: Comments submitted in response to this notice will be
summarized and included in the request for OMB approval. All comments
will become a matter of public record. Comments are 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 information
collection burden;
(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.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2020-21855 Filed 10-1-20; 8:45 am]
BILLING CODE 4810-33-P