[Federal Register Volume 89, Number 22 (Thursday, February 1, 2024)]
[Notices]
[Pages 6566-6568]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-02014]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Revision of an Approved 
Collection; 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 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 the 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 a revision to its 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 received by April 1, 2024.

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) 293-4835.
    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

[[Page 6567]]

disclosure. Do not include any information in your comment or 
supporting materials that you consider confidential or inappropriate 
for public disclosure.
    Following the close of this notice's 60-day comment period, the OCC 
will publish a second notice with a 30-day comment period. 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 by the method set forth in the next 
bullet.
     Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' tab and click on 
``Information Collection Review'' from the drop-down menu. From the 
``Currently under Review'' drop-down menu, select ``Department of 
Treasury'' and then click ``submit.'' This information collection can 
be located by searching 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, Clearance Officer, 
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of 
the Currency, 400 7th Street SW, Washington, DC 20219. If you are deaf, 
hard of hearing, or have a speech disability, please dial 7-1-1 to 
access telecommunications relay services.

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. 
Section 3506(c)(2)(A) of title 44 generally requires Federal agencies 
to provide a 60-day notice in the Federal Register concerning each 
proposed collection of information, including each proposed extension 
of an existing collection of information, before submitting the 
collection to OMB for approval. To comply with this requirement, the 
OCC is publishing notice of the revision to the collection of 
information set forth in this document. The OCC asks OMB to approve 
this revised collection.
    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.
    Affected Public: Businesses or other for-profit.
    Frequency of Response: On occasion. Description: This information 
collection covers Consumer Financial Protection Bureau (CFPB) 
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--(i) notify applicants of action taken on their 
credit application, (ii) report credit history in the names of both 
spouses on an account, (iii) retain records of credit applications, 
(iv) collect information about the applicant's race and other personal 
characteristics in applications for certain dwelling-related loans, and 
(v) provide applicants with copies of appraisal reports used in 
connection with credit transactions. The regulation was amended to 
implement changes to the Equal Credit Opportunity Act (ECOA) made by 
section 1071 of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act (88 FR 35150). Section 1071 requires covered financial 
institutions to collect and report data on applications for credit for 
small businesses. The regulation's revision includes additional 
information collection requirements that require the compilation and 
maintenance of reportable data, including notice requirements and 
reporting and recordkeeping requirements for small business lending 
data.\1\
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    \1\ However, the OCC is not reporting an estimate for burden 
associated with the small business lending rule, given that, as the 
CFPB has noted, the rule is stayed: ``As a result of ongoing 
litigation, all deadlines for compliance with the small business 
lending rule currently are stayed for all covered financial 
institutions.'' CFPB, Small Business Lending under the Equal Credit 
Opportunity Act (Regulation B), available at https://www.consumerfinance.gov/rules-policy/final-rules/small-business-lending-under-the-equal-credit-opportunity-act-regulation-b/.
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Regulation E--12 CFR 1005--Electronic Fund Transfers (Except Prepaid 
Card Provisions 1557-0346)

    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 of 
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, among other things, 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 of the regulation 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 into certain transaction accounts, rules to govern the 
collection and return of checks and electronic checks, and general 
provisions to govern the use of substitute checks.

[[Page 6568]]

    Burden Estimates:
    Estimated Number of Respondents: 1,005.
    Estimated Total Annual Burden: 2,661,240 hours.
    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 OCCs 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.

Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2024-02014 Filed 1-31-24; 8:45 am]
BILLING CODE 4810-33-P