[Federal Register Volume 88, Number 159 (Friday, August 18, 2023)]
[Notices]
[Pages 56627-56628]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-17829]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Disclosure Requirements Associated with the Consumer 
Financial Protection Bureau's (CFPB) Regulation DD (FR DD; OMB No. 
7100-0271).

DATES: Comments must be submitted on or before October 17, 2023.

ADDRESSES: You may submit comments, identified by FR DD, by any of the 
following methods:
     Agency Website: https://www.federalreserve.gov/. Follow 
the instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include the OMB 
number or FR number in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Federal Reserve Board of Governors, Attn: Ann E. 
Misback, Secretary of the Board, Mailstop M-4775, 2001 C St NW, 
Washington, DC 20551.
    All public comments are available from the Board's website at 
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as 
submitted, unless modified for technical reasons or to remove 
personally identifiable information at the commenter's request. 
Accordingly, comments will not be edited to remove any confidential 
business information, identifying information, or contact information. 
Public comments may also be viewed electronically or in paper in Room 
M-4365A, 2001 C St NW, Washington, DC 20551, between 9:00 a.m. and 5:00 
p.m. on weekdays, except for Federal holidays. For security reasons, 
the Board requires that visitors make an appointment to inspect 
comments. You may do so by calling (202) 452-3684. Upon arrival, 
visitors will be required to present valid government-issued photo 
identification and to submit to security screening in order to inspect 
and photocopy comments.
    Additionally, commenters may send a copy of their comments to the 
Office of Management and Budget (OMB) Desk Officer for the Federal 
Reserve Board, Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Room 10235, 725 
17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of 
Governors of the Federal Reserve System, [email protected], (202) 
452-3884.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the Paperwork Reduction Act (PRA) to approve and assign 
OMB control numbers to collections of information conducted or 
sponsored by the Board. In exercising this delegated authority, the 
Board is directed to take every reasonable step to solicit comment. In 
determining whether to approve a collection of information, the Board 
will consider all comments received from the public and other agencies.
    During the comment period for this proposal, a copy of the proposed 
PRA OMB submission, including the draft reporting form and 
instructions, supporting statement (which contains more detail about 
the information collection and burden estimates than this notice), and 
other documentation, will be made available on the Board's public 
website at https://www.federalreserve.gov/apps/reportingforms/home/review or may be requested from the agency clearance officer, whose 
name appears above. Final versions of these documents will be made 
available at https://

[[Page 56628]]

www.reginfo.gov/public/do/PRAMain, if approved.

Request for Comment on Information Collection Proposal

    The Board invites public comment on the following information 
collection, which is being reviewed under authority delegated by the 
OMB under the PRA. Comments are invited on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board's estimate of the burden of the 
proposed 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 information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    e. Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Board 
should modify the proposal.

Proposal Under OMB Delegated Authority To Extend for Three Years, 
Without Revision, the Following Information Collection

    Collection title: Disclosure Requirements Associated with the 
Consumer Financial Protection Bureau's (CFPB) Regulation DD.
    Collection identifier: FR DD.
    OMB control number: 7100-0271.
    General description of collection: The Truth in Savings Act (TISA) 
was contained in the Federal Deposit Insurance Corporation Improvement 
Act of 1991. The FR DD is the Board's information collection associated 
with the CFPB's Regulation DD, which implements TISA to assist 
consumers in comparing deposit accounts offered by institutions, 
principally through the disclosure of fees, the annual percentage 
yield, and other account terms.
    Frequency: The FR DD is triggered by specific events, and 
disclosures must be provided to consumers within the time periods 
established by TISA and Regulation DD. The Board currently estimates 
the frequency of disclosure as monthly, as more granular information 
(i.e., number of accounts subject to Regulation DD) is not readily 
available.
    Respondents: Except those that are supervised by the CFPB, the FR 
DD panel comprises state member banks, branches of foreign banks (other 
than federal branches and insured state branches of foreign banks), 
commercial lending companies owned or controlled by foreign banks, and 
organizations operating under section 25 of the Federal Reserve Act.
    Total estimated number of respondents: 770.
    Total estimated annual burden hours: 25,410.

    Board of Governors of the Federal Reserve System, August 15, 
2023.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-17829 Filed 8-17-23; 8:45 am]
BILLING CODE 6210-01-P