[Federal Register Volume 89, Number 89 (Tuesday, May 7, 2024)]
[Notices]
[Pages 38136-38143]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-09856]


=======================================================================
-----------------------------------------------------------------------

FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0082; -0084]


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

-----------------------------------------------------------------------

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. 
3064-0082; -0084).

DATES: Comments must be submitted on or before July 8, 2024.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     Agency Website: https://www.fdic.gov/resources/regulations/federal-register-publications/.
     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 NW building (located on F Street 
NW), 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 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 collection of 
information:
    1. Title: Recordkeeping, Disclosure and Reporting Requirements in 
Connection with Regulation Z.
    OMB Number: 3064-0082.
    Form Number: None.
    Affected Public: FDIC-Supervised Institutions.
    Burden Estimate:

                                               Table 1--Summary of Estimated Annual Implementation Burden
                                                                   [OMB No. 3064-0082]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                             Number of       Time per
     Information collection (IC)            Type of burden (frequency of response)           Number of     responses per     response      Annual burden
       (obligation to respond)                                                              respondents     respondent        (HH:MM)         (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Open-End Credit Products:
     Not Home-Secured Open-End Credit Plans.....................................................................................................
        [cir] Credit and Charge Card Provisions.........................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
Timely Settlement of Estate Debts     Recordkeeping (On Occasion).......................               8               1           08:00              64
 Written Policies and Procedures, 12
 CFR 1026.11(c)(1) (Mandatory).
Ability to Pay Written Policies and   Recordkeeping (On Occasion).......................               8               1           08:00              64
 Procedures, 12 CFR 1026.51(a)(ii)
 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Mortgage Products (Open and Closed-End):
     Valuation Independence.....................................................................................................................
        [cir] Mandatory Reporting.......................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
Implementation of Policies and        Recordkeeping (On Occasion).......................               8               1           20:00             160
 Procedures, 12 CFR 1026.42(g)
 (Mandatory).
    Total Annual Implementation       ..................................................  ..............  ..............  ..............             288
     Burden (Hours).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Source: FDIC.
Note: The estimated annual IC time burden is the product, rounded to the nearest hour, of the estimated annual number of responses and the estimated
  time per response for a given IC. The estimated annual number of responses is the product, rounded to the nearest whole number, of the estimated
  annual number of respondents and the estimated annual number of responses per respondent. This methodology ensures the estimated annual burdens in the
  table are consistent with the values recorded in OMB's consolidated information system.


                                                   Table 2--Summary of Estimated Annual Ongoing Burden
                                                                   [OMB No. 3064-0082]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                             Number of       Time per
     Information collection (IC)             Type of burden (frequency of response)          Number of     responses per     response      Annual burden
       (obligation to respond)                                                              respondents     respondent        (HH:MM)         (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Open-End Credit Products:
     Not Home-Secured Open-End Credit Plans.....................................................................................................
        [cir] General Disclosure Rules for Not Home-Secured Open-End Credit Plans.......................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------

[[Page 38137]]

 
1. Credit and Charge Card              Disclosure (Annual)..............................             478               1           08:00           3,824
 Applications and Solicitations, 12
 CFR 1026.60 (Mandatory).
2. Account Opening Disclosures, 12     Disclosure (Annual)..............................             478               1           12:00           5,736
 CFR 1026.6(b) (Mandatory).
3. Periodic Statements, 12 CFR         Disclosure (Monthly).............................             478              12           08:00          45,888
 1026.7(b) (Mandatory).
4. Annual Statement of Billing         Disclosure (Annual)..............................             478               1           08:00           3,824
 Rights, 12 CFR 1026.9(a)(1)
 (Mandatory).
5. Alternative Summary Statement of    Disclosure (Monthly).............................             478              12           08:00          45,888
 Billing Rights, 12 CFR 1026.9(a)(2)
 (Voluntary).
6. Change in Terms Disclosures, 12     Disclosure (Annual)..............................             478               1           08:00           3,824
 CFR 1026.9(b) through (h)
 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
        [cir] Credit and Charge Card Provisions.........................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
7. Timely Settlement of Estate Debts,  Disclosure (On Occasion).........................             478              61           00:05           2,430
 12 CFR 1026.11(c)(2) (Mandatory).
8. Ability to Pay, 12 CFR 1026.51      Recordkeeping (Annual)...........................             478               1           12:00           5,736
 (Mandatory).
9. College Student Credit Annual       Reporting (Annual)...............................             478               1           08:00           3,824
 Report, 12 CFR 1026.57(d)
 (Mandatory).
10. Submission of Credit Card          Reporting (Quarterly)............................             478               4           03:00           5,736
 Agreements, 12 CFR 1026.58(c)
 (Mandatory).
11. Internet Posting of Credit Card    Disclosure (Quarterly)...........................             478               4           06:00          11,472
 Agreements, 12 CFR 1026.58(d)
 (Mandatory).
12. Individual Credit Card             Disclosure (On Occasion).........................             478              14           00:15           1,673
 Agreements, 12 CFR 1026.58(e)
 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
     Home Equity Open-End Credit Plans (HELOC)..................................................................................................
        [cir] General Disclosure Rules for HELOC's......................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
13. Application Disclosures, 12 CFR    Disclosure (Annual)..............................           2,189               1           12:00          26,268
 1026.40 (Mandatory).
14. Account Opening Disclosures, 12    Disclosure (Annual)..............................           2,189               1           12:00          26,268
 CFR 1026.6(a) (Mandatory).
15. Periodic Statements, 12 CFR        Disclosure (Annual)..............................           2,189               1           08:00          17,512
 1026.7(a) (Mandatory).
16. Annual Statement of Billing        Disclosure (Annual)..............................           2,189               1           08:00          17,512
 Rights, 12 CFR 1026.9(a)(1)
 (Mandatory).
17. Alternative Summary Statement of   Disclosure (Annual)..............................           2,189               1           08:00          17,512
 Billing Rights, 12 CFR 1026.9(a)(2)
 (Mandatory).
18. Change in Terms Disclosures, 12    Disclosure (Annual)..............................           2,189               1           08:00          17,512
 CFR 1026.9(b) through (h)
 (Mandatory).
19. Notice to Restrict Credit, 12 CFR  Disclosure (Annual)..............................           2,189               1           02:00           4,378
 1026.9(c)(1)(iii); 1026.40(f)(3)(i)
 and (vi) (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
     All Open-End Credit Plans..................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
20. Error Resolution, 12 CFR 1026.13   Disclosure (On Occasion).........................           2,265             937           00:01          35,372
 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Closed-End Credit Products:
     General Rules for Closed-End Credit........................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
21. Other than Real Estate, Home-      Disclosure (Annual)..............................           2,551               1           12:00          30,612
 Secured and Private Education Loans,
 12 CFR 1026.17 and 1026.18
 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
     Closed-End Mortgages.......................................................................................................................

[[Page 38138]]

 
        [cir] Application and Consummation..............................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
22. Loan Estimate, 12 CFR 1026.19(e);  Disclosure (Annual)..............................           2,815               1           08:00          22,520
 and 1026.37 (Mandatory).
23. Closing Disclosure, 12 CFR         Disclosure (Annual)..............................           2,815               1           08:00          22,520
 1026.19(f); and 1026.38 (Mandatory).
24. Record Retention of Disclosures,   Recordkeeping (Annual)...........................           2,815               1           00:18             845
 12 CFR 1026.19(e), (f); 1026.37; and
 1026.38 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
        [cir] Post-Consummation Disclosures.............................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
25. Interest Rate and Payment          Disclosure (Annual)..............................           2,815               1           40:00         112,600
 Summary, 12 CFR 1026.18(s)
 (Mandatory).
26. No Guarantee to Refinance          Disclosure (Annual)..............................           2,815               1           08:00          22,520
 Statement, 12 CFR 1026.18(t)
 (Mandatory).
27. ARMs Rate Adjustments with         Disclosure (Annual)..............................           2,815               1           01:30           4,223
 Payment Change Disclosures, 12 CFR
 1026.20(c) (Mandatory).
28. Initial Rate Adjustment            Disclosure (Annual)..............................           2,815               1           02:00           5,630
 Disclosure for ARMs, 12 CFR
 1026.20(d) (Mandatory).
29. Escrow Cancellation Notice, 12     Disclosure (Annual)..............................           2,815               1           08:00          22,520
 CFR 1026.20(e) (Mandatory).
30. Periodic Statements, 12 CFR        Disclosure (Annual)..............................           2,815               1           08:00          22,520
 1026.41 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
        [cir] Ability to Repay Requirements.............................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
31. Minimum Standards, 12 CFR          Recordkeeping (On Occasion)......................           2,815            1166           00:15         820,573
 1026.43(c) through (f) (Mandatory).
32. Prepayment Penalties, 12 CFR       Disclosure (On Occasion).........................           2,815              45           00:12          25,335
 1026.43(g) (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Mortgage Products (Open and Closed-End):
     Mortgage Servicing Disclosures.............................................................................................................
        [cir] Payoff Statements.........................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
33. Payoff Statements, 12 CFR          Disclosure (Annual)..............................           2,829               1           08:00          22,632
 1026.36(c)(3) (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
        [cir] Notice of Sale or Transfer................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
34. Notice of Sale or Transfer, 12     Disclosure (Annual)..............................           2,829               1           08:00          22,632
 CFR 1026.39 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
     Valuation Independence.....................................................................................................................
        [cir] Mandatory Reporting.......................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
35. Reporting Appraiser                Reporting (On Occasion)..........................           2,829               1           00:10             472
 Noncompliance, 12 CFR 1026.42(g)
 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Reverse and High-Cost Mortgages:
     Reverse Mortgages..........................................................................................................................
        [cir] Reverse Mortgage Disclosures..............................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
36. Reverse Mortgage Disclosures, 12   Disclosure (Annual)..............................               1               1           24:00              24
 CFR 1026.31(c)(2) and 1026.33
 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
     High-Cost Mortgage Loans...................................................................................................................
        [cir] HOEPA Disclosures and Notice..............................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
37. HOEPA Disclosures and Notice, 12   Disclosure (Annual)..............................           2,815               1           00:14             657
 CFR 1026.32(c) (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Private Education Loans:
     Initial Disclosures........................................................................................................................

[[Page 38139]]

 
        [cir] Application and Solicitation Disclosures..................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
38. Application or Solicitation        Disclosure (Annual)..............................           2,755               1           60:00         165,300
 Disclosures, 12 CFR 1026.47(a)
 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
        [cir] Approval Disclosures......................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
39. Approval Disclosures, 12 CFR       Disclosure (Annual)..............................           2,755               1           60:00         165,300
 1026.47(b) (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
        [cir] Final Disclosures.........................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
40. Final Disclosures, 12 CFR          Disclosure (Annual)..............................           2,755               1           60:00         165,300
 1026.47(c) (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Advertising Rules
     All Credit Types...........................................................................................................................
        [cir] Open-End Credit...........................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
41. Open-End Credit, 12 CFR 1026.16    Disclosure (Annual)..............................           2,265               1           00:20             755
 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
        [cir] Closed-End Credit.........................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
42. Closed-End Credit, 12 CFR 1026.24  Disclosure (Annual)..............................           2,856               1           00:20             952
 (Mandatory).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Record Retention:
     Evidence of Compliance.....................................................................................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
43. Regulation Z in General, 12 CFR    Recordkeeping (Annual)...........................           2,857               1           00:18             857
 1026.25 (Mandatory).
                                                                                         ---------------------------------------------------------------
    Total Annual Ongoing Burden        .................................................  ..............  ..............  ..............       1,959,488
     (Hours).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Source: FDIC.
Note: The estimated annual IC time burden is the product, rounded to the nearest hour, of the estimated annual number of responses and the estimated
  time per response for a given IC. The estimated annual number of responses is the product, rounded to the nearest whole number, of the estimated
  annual number of respondents and the estimated annual number of responses per respondent. This methodology ensures the estimated annual burdens in the
  table are consistent with the values recorded in OMB's consolidated information system.

    General Description of Collection: Consumer Financial Protection 
Bureau (CFPB) Regulation Z--12 CFR 1026 implements the Truth in Lending 
Act (15 U.S.C. 1601, et seq.) and certain provisions of the Real Estate 
Settlement Procedures Act (12 U.S.C. 2601 et seq.). This regulation 
prescribes uniform methods for computing the cost of credit, the 
disclosure of credit terms and costs, the resolution of errors and 
imposes various other recordkeeping, reporting and disclosure 
requirements. The FDIC has enforcement authority on the requirements of 
the CFPB's Regulation over the financial institutions it supervises. 
This information collection captures the recordkeeping, reporting, and 
disclosure burdens of Regulation Z on FDIC-supervised institutions. To 
arrive at the estimated annual burden the FDIC assessed the number of 
potential respondents to the information collection by identifying the 
number of FDIC-supervised institutions who reported activity that would 
be within the scope of the information collection requirements 
according to data from the most recent Call Report. Additionally, the 
FDIC estimated the frequency of responses to the recordkeeping, 
reporting, or disclosure requirements by assessing the dollar volume of 
activity that would be within the scope of the information collection. 
In some instances, the FDIC used information provided by other sources 
to estimate the magnitude and scope of activity attributable to FDIC-
supervised institutions when more immediate information sources did not 
exist.
    The estimated annual burden, in hours, is the product of the 
estimated number of respondents per year, estimated number of responses 
per respondent per year, and estimated hours per response, as 
summarized in Table 1 for the implementation burden and in Table 2 for 
the ongoing burden, below. The total estimated annual burden for this 
Information Collection Request (ICR) is 1,959,766 hours (288 hours 
estimated implementation burden, plus 1,959,488 hours estimated ongoing 
burden), which is a decrease of 71,838 hours from the 2021 estimate. As 
the estimated time per response remained the same from the 2021 ICR, 
the change in the total estimated annual burden hours is attributable 
to the decrease in the estimated number of respondents in Table 2.
    2. Title: Account Based Disclosures in Connection with Consumer 
Financial Protection Bureau Regulations E and DD and Federal Reserve 
Regulation CC.
    OMB Number: 3064-0084.
    Form Number: None.

[[Page 38140]]

    Affected Public: FDIC-Supervised Institutions.
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0084]
----------------------------------------------------------------------------------------------------------------
                                 Type of burden                      Number of       Time per
  Information collection (IC)     (frequency of      Number of     responses per     response      Annual burden
    (obligation to respond)         response)       respondents     respondent        (HH:MM)         (hours)
----------------------------------------------------------------------------------------------------------------
                                       CFPB Regulation E--12 CFR Part 1005
----------------------------------------------------------------------------------------------------------------
1. Initial Disclosures:         Disclosure (On             2,871              83         00:01.5           5,957
 General, 12 CFR 1005.7(b)       Occasion).
 (Mandatory).
2. Initial Disclosures:         Disclosure (On                 6           5,000         00:01.5             750
 Payroll Cards, 12 CFR           Occasion).
 1005.18(c)(1) (Mandatory).
3. Initial Disclosures: Change  Disclosure (On             2,871             113           00:01           5,407
 in Terms, 12 CFR 1005.8(a)      Occasion).
 (Mandatory).
4. Error Resolution Rules:      Disclosure (On             2,871               3           00:30           4,307
 General, 12 CFR 1005.8(b), 12   Occasion).
 CFR 1005.11 (Mandatory).
5. Error Resolution Rules:      Disclosure (On                 6               8           00:30              24
 Payroll Cards, 12 CFR 1005.18   Occasion).
 (Mandatory).
6. Prepaid Accounts: New        Disclosure (On                 2           24.33           40:00           1,960
 Products--Short Form            Occasion).
 Disclosure, 12 CFR
 1005.18(b)(2), 12 CFR
 1005.15(c) (Mandatory).
7. Prepaid Accounts: New        Disclosure (On                 2           24.33           08:00             392
 Products--Long Form             Occasion).
 Disclosure, 12 CFR
 1005.18(b)(4), 12 CFR
 1005.15(c) (Mandatory).
8. Prepaid Accounts:            Disclosure (On                 1               1           04:00               4
 Implementation--Short Form      Occasion).
 Additional Fee Type
 Disclosure, 12 CFR
 1005.18(b)(2)(ix) (Mandatory).
9. Prepaid Accounts:            Recordkeeping                  1               1           24:00              24
 Implementation--Access to       (On Occasion).
 Prepaid Account Information,
 12 CFR 1005.18(c)(5), 12 CFR
 1005.15(d) (Mandatory).
10. Prepaid Accounts:           Recordkeeping                  1               1           08:00               8
 Implementation--Error           (On Occasion).
 Resolution, 12 CFR
 1005.18(e)(2), 12 CFR 1005.11
 (Mandatory).
11. Prepaid Accounts:           Reporting (On                  1               1           01:00               1
 Implementation--Submission of   Occasion).
 Agreements, 12 CFR 1005.19(b)
 (Mandatory).
12. Prepaid Accounts: Ongoing-- Disclosure                    15               1           00:30               8
 Short Form Additional Fee       (Annual).
 Type Disclosure, 12 CFR
 1005.18(b)(2)(ix) (Mandatory).
13. Prepaid Accounts: Ongoing-- Recordkeeping...              15               1           00:30               8
 Access to Prepaid Account      (Annual)........
 Information, 12 CFR
 1005.18(c)(5), 12 CFR
 1005.15(d) (Mandatory).
14. Prepaid Accounts: Ongoing-- Recordkeeping...              15               1           00:30               8
 Error Resolution, 12 CFR       (Annual)........
 1005.18(e)(2), 12 CFR 1005.11
 (Mandatory).
15. Prepaid Accounts: Ongoing-- Reporting                     15               1           00:30               8
 Submission of Agreements, 12    (Annual).
 CFR 1005.19(b) (Mandatory).
16. Gift Cards/Certificates:    Recordkeeping                  2               1           20:00              40
 Implementation--Exclusion       (On Occasion).
 Policies and Procedures, 12
 CFR 1005.20(b)(2) (Mandatory).
17. Gift Cards/Certificates:    Recordkeeping                  2               1           20:00              40
 Implementation--Policies &      (On Occasion).
 Procedures 12 CFR
 1005.20(e)(1) (Mandatory).
18. Gift Cards/Certificates:    Recordkeeping                 12               1           00:15               3
 Ongoing--Exclusion Policies     (Annual).
 and Procedures, 12 CFR
 1005.20(b)(2) (Mandatory).
19. Gift Cards/Certificates:    Recordkeeping                 12               1           00:15               3
 Ongoing--Policies &             (Annual).
 Procedures 12 CFR
 1005.20(e)(1) (Mandatory).

[[Page 38141]]

 
20. Remittances:                Recordkeeping                  1               1           08:00               8
 Implementation--Policies &      (On Occasion).
 Procedures for Error
 Resolution and Retention of
 Documentation 12 CFR
 1005.33(g), 12 CFR 1005.13
 (Mandatory).
21. Remittances: Ongoing--      Recordkeeping                122               1           00:30              61
 Policies & Procedures for       (Annual).
 Error Resolution and
 Retention of Documentation 12
 CFR 1005.33(g), 12 CFR
 1005.13 (Mandatory).
22. Remittance Transfer         Disclosure                   122              12           08:00          11,712
 Disclosures 12 CFR 1005.31      (Monthly).
 (Mandatory).
23. Error Resolution for        Disclosure                   122              12           04:30           6,588
 Remittance Transfers 12 CFR     (Monthly).
 1005.33 (Mandatory).
24. Remittance Transfers        Disclosure                   122               1           08:00             976
 Scheduled before date of        (Annual).
 transfer 12 CFR 1005.36
 (Mandatory).
----------------------------------------------------------------------------------------------------------------
                                      CFPB Regulation DD--12 CFR Part 1030
----------------------------------------------------------------------------------------------------------------
25. Account disclosures (Upon   Disclosure (On             2,871             170         00:01.5          12,202
 Request and New Accounts), 12   Occasion).
 CFR 1030.4 (Mandatory).
26. Change in Terms, 12 CFR     Disclosure (On             2,871             380           00:01          18,183
 1030.5 (Mandatory).             Occasion).
27. Prematurity (renewal)       Disclosure (On             2,871             340           00:01          16,269
 Notices to Consumers, 12 CFR    Occasion).
 1030.5 (Mandatory).
28. Disclosures on Periodic     Disclosure                 2,871              12           04:00         137,808
 Statements, 12 CFR 1030.6       (Monthly).
 (Mandatory).
29. Advertising, 12 CFR 1030.8  Disclosure                 2,871              12           00:30          17,226
 (Mandatory).                    (Monthly).
----------------------------------------------------------------------------------------------------------------
                              Federal Reserve Board Regulation CC--12 CFR Part 229
----------------------------------------------------------------------------------------------------------------
30. Specific Availability       Disclosure (On             2,936             140           00:01           6,851
 Policy Disclosure (Initial      Occasion).
 Notice, Upon Request, Upon
 Change in Policy), 12 CFR
 229.16, 12 CFR 229.17, 12 CFR
 229.18(d) (Mandatory).
----------------------------------------------------------------------------------------------------------------
31. Case-by-case Hold Notice    Disclosure (On             2,936             717           00:03         105,256
 to Consumers, 12 CFR            Occasion).
 229.16(c) (Mandatory).
32. Notice of Exceptions to     Disclosure (On             2,936             247           00:03          36,260
 Hold Policy, (12 CFR            Occasion).
 229.13(g)) (Mandatory).
33. Notice posted where         Disclosure (On             2,936               1           00:15             734
 consumers make deposits         Occasion).
 (Incl. ATMs), 12 CFR
 229.18(b), 12 CFR 229.18(c)
 (Mandatory).
34. Notice to consumers of      Disclosure (On             2,936             170           00:01           8,319
 changes in policy, 12 CFR       Occasion).
 229.18(e) (Mandatory).
35. Annual notice of new ATMs,  Disclosure                 2,936               1           05:00          14,680
 12 CFR 229.18(e) (Mandatory).   (Annual).
36. Notice of nonpayment--      Disclosure (On             2,936            2211           00:01         108,192
 notice to depository bank, 12   Occasion).
 CFR 229.33(a) and 12 CFR
 229.33(d) (Mandatory).
37. Response to consumer's      Disclosure (On             2,936              12           00:15           8,808
 recredit claim (validation,     Occasion).
 denial, reversal), 12 CFR
 229.54(e) (Mandatory).
38. Bank's claim against an     Reporting (On              2,936               5           00:15           3,670
 indemnifying bank, 12 CFR       Occasion).
 229.55 (Mandatory).
39. Consumer awareness          Disclosure (On             2,936             170           00:01           8,319
 disclosure, 12 CFR 229.57       Occasion).
 (Mandatory).

[[Page 38142]]

 
40. Reg CC Consumer Burden--    Reporting (On              2,936               8           00:15           5,872
 Expedited recredit claim        Occasion).
 notice, 12 CFR 229.54(a) and
 12 CFR 229.54(b)(2)
 (Mandatory).
                                                 ---------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............         546,946
     (Hours):.
----------------------------------------------------------------------------------------------------------------
Source: FDIC.
Note: The estimated annual IC time burden is the product, rounded to the nearest hour, of the estimated annual
  number of responses and the estimated time per response for a given IC. The estimated annual number of
  responses is the product, rounded to the nearest whole number, of the estimated annual number of respondents
  and the estimated annual number of responses per respondent. This methodology ensures the estimated annual
  burdens in the table are consistent with the values recorded in OMB's consolidated information system.

    General Description of Collection: Regulations E & DD (Consumer 
Financial Protection Bureau's Regulations) and Regulation CC (the 
Federal Reserve's Regulation) ensure adequate disclosures regarding 
accounts, including electronic fund transfer services, availability of 
funds, and fees and annual percentage yield for deposit accounts. 
Generally, the Regulation E disclosures are designed to ensure 
consumers receive adequate disclosure of basic terms, costs, and rights 
relating to electronic fund transfer (EFT) services provided to them so 
that they can make informed decisions. Institutions offering EFT 
services must disclose to consumers certain information, including: 
Initial and updated EFT terms, transaction information, the consumer's 
potential liability for unauthorized transfers, and error resolution 
rights and procedures. Like Regulation E, Regulation CC contains 
consumer protection disclosure requirements. Specifically, Regulation 
CC requires depository institutions to make funds deposited in 
transaction accounts available within specified time periods, disclose 
their availability policies to customers, and begin accruing interest 
on such deposits promptly. The disclosures are intended to alert 
customers that their ability to use deposited funds may be delayed, 
prevent unintentional (and costly) overdrafts, and allow customers to 
compare the policies of different institutions before deciding at which 
institution to deposit funds. Depository institutions must also provide 
an awareness disclosure regarding substitute checks. The regulation 
also requires notice to the depositary bank and to a customer of 
nonpayment of a check. Regulation DD also has similar consumer 
protection disclosure requirements that are intended to assist 
consumers in comparing deposit accounts offered by institutions, 
principally through the disclosure of fees, the annual percentage 
yield, and other account terms. Regulation DD requires depository 
institutions to disclose yields, fees, and other terms concerning 
deposit accounts to consumers at account opening, upon request, and 
when changes in terms occur.
    Depository institutions that provide periodic statements are 
required to include information about fees imposed, interest earned, 
and the annual percentage yield (APY) earned during those statement 
periods. It also contains rules about advertising deposit accounts. 
This Information Collection Request (ICR) is being revised as a result 
of the addition of five (5) new information collection requirements 
contained in CFPB's Regulation E, Subpart B. The estimated annual 
burden, in hours, is the product of the estimated number of respondents 
per year, estimated number of responses per respondent per year, and 
estimated hours per response, as summarized in the Table above. The 
total estimated annual burden for this ICR is 546,946 hours, which is a 
decrease of 45,875 hours from our estimate in the 2021 memo (592,821 
hours). This decrease can be explained largely by a decline in the 
number of FDIC-supervised IDIs from December 31, 2020 (the period used 
in the previous OMB renewal) to December 31, 2023. This decrease is 
attenuated by the inclusion of five ICs pertaining to recordkeeping and 
disclosure requirements associated with remittance transfers in Subpart 
B of CFPB Regulation E.
    The estimated annual burden and change in burden, broken down by 
each Regulation (E, DD, and CC), is as follows:

----------------------------------------------------------------------------------------------------------------
                                                                    2021 Total      2024 Total
                           Regulation                              annual burden   annual burden  Change (hours)
                                                                      (hours)         (hours)
----------------------------------------------------------------------------------------------------------------
CFPB Regulation E...............................................          28,950          38,297         + 9,347
CFPB Regulation DD..............................................         223,594         201,688         -21,906
FRB Regulation CC...............................................         340,277         306,961         -33,316
                                                                 -----------------------------------------------
    Total Annual Burden.........................................         592,821         546,946         -45,875
----------------------------------------------------------------------------------------------------------------

Request for Comment

    Comments are invited on: (a) Whether the collections of information 
are 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 collections, 
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 collections of 
information on respondents, including through the

[[Page 38143]]

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 May 1, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-09856 Filed 5-6-24; 8:45 am]
BILLING CODE 6714-01-P