    [Federal Register Volume 90, Number 84 (Friday, May 2, 2025)]
    [Notices]
    [Pages 18891-18893]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 2025-07642]

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    DEPARTMENT OF THE TREASURY

    Office of the Comptroller of the Currency

    Agency Information Collection Activities: Information Collection
    Renewal; Comment Request; Identity Theft Red Flags and Address
    Discrepancies Under the Fair and Accurate Credit Transactions Act of
    2003

    AGENCY: Office of the Comptroller of the Currency, Treasury (OCC).

    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 respondents are 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 its information collection titled,
    ``Identity Theft Red Flags and Address Discrepancies under the Fair and
    Accurate Credit Transactions Act of 2003.''

    DATES: Comments must be received by July 1, 2025.

    ADDRESSES: Commenters are encouraged to submit comments by email, if
    possible. You may submit comments by any of the following methods:
         Email: prainfo@occ.treas.gov.
         Mail: Chief Counsel's Office, Attention: Comment
    Processing, Office of the Comptroller of the Currency, Attention: 1557-
    0237, 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
    ``1557-0237'' 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.
        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 by OMB control number ``1557-0237'' or
    ``Identity Theft Red Flags and Address Discrepancies under the Fair and
    Accurate Credit Transactions Act of 2003.'' 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 renewal/revision of this collection.

    [[Page 18892]]

        Title: Identity Theft Red Flags and Address Discrepancies under the
    Fair and Accurate Credit Transactions Act of 2003.
        OMB Control No.: 1557-0237.
        Description: Section 114 of the Fair and Accurate Credit
    Transactions Act of 2003 (FACT Act) \1\ amended section 615 of the Fair
    Credit Reporting Act (FCRA) \2\ to require the Agencies \3\ to jointly
    issue:
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        \1\ 15 U.S.C. 1681m(e).
        \2\ 15 U.S.C. 1681m.
        \3\ Section 114 required the guidelines and regulations to be
    issued jointly by the Federal banking agencies (OCC, Board of
    Governors of the Federal Reserve System, and Federal Deposit
    Insurance Corporation), the National Credit Union Administration,
    and the Federal Trade Commission. Therefore, for purposes of this
    filing, ``Agencies'' refers to these entities. Section 1088(a)(8) of
    the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-
    Frank Act) further amended section 615 of FCRA to also require the
    Securities and Exchange Commission and the Commodity Futures Trading
    Commission to issue Red Flags guidelines and regulations.
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         Guidelines for financial institutions and creditors
    regarding identity theft with respect to their account holders and
    customers. (In developing the guidelines, the Agencies are required to
    identify patterns, practices, and specific forms of activity that
    indicate the possible existence of identity theft. The guidelines must
    be updated as often as necessary and cannot be inconsistent with the
    policies and procedures required under section 326 of the USA PATRIOT
    Act, (31 U.S.C. 5318(l));
         Regulations that require each financial institution and
    each creditor to establish reasonable policies and procedures for
    implementing the guidelines to identify possible risks to account
    holders or customers or to the safety and soundness of the institution
    or customers; and
         Regulations generally requiring credit and debit card
    issuers to assess the validity of change of address requests under
    certain circumstances.
        Section 315 of the FACT Act \4\ also amended section 605 of FCRA to
    require the Bureau of Consumer Financial Protection (CFPB), in
    consultation with the Agencies, to issue regulations providing guidance
    regarding what reasonable policies and procedures a user of consumer
    reports must have in place and employ when a user receives a notice of
    address discrepancy from a consumer reporting agency (CRA). These
    regulations are required to describe reasonable policies and procedures
    for users of consumer reports to:
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        \4\ 15 U.S.C. 1681c(h)(2).
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         Enable a user to form a reasonable belief that it knows
    the identity of the person for whom it has obtained a consumer report;
    and
         Reconcile the address of the consumer with the CRA if the
    user establishes a continuing relationship with the consumer and
    regularly and, in the ordinary course of business, furnishes
    information to the CRA.
        As required by section 114 of the FACT Act, appendix J to 12 CFR
    part 41 contains guidelines for financial institutions and creditors
    that are national banks, Federal savings associations, Federal branches
    or agencies of a foreign bank, or any of their operating subsidiaries
    that are not functionally regulated to use in identifying patterns,
    practices, and specific forms of activity that may indicate the
    existence of identity theft. In addition, 12 CFR 41.90 requires each
    financial institution or creditor that is a national bank, Federal
    savings association, Federal branch or agency of a foreign bank, and
    any of their operating subsidiaries that are not functionally
    regulated, to establish an Identity Theft Prevention Program (Program)
    designed to detect, prevent, and mitigate identity theft in connection
    with covered accounts. Pursuant to Sec.  41.91, credit card and debit
    card issuers that are national banks, Federal savings associations,
    Federal branches or agencies of a foreign bank, or any of their
    operating subsidiaries that are not functionally regulated must
    establish and implement reasonable policies and procedures to assess
    the validity of a request for a change of address under certain
    circumstances.
        Section 41.90 requires each OCC-regulated financial institution or
    creditor that offers or maintains one or more covered accounts to
    develop and implement a Program. In developing a Program, financial
    institutions and creditors are required to consider the guidelines set
    forth in appendix J and include in its Program those guidelines that
    are appropriate. The initial Program must be approved by the
    institution's board of directors or by an appropriate committee
    thereof. The board, an appropriate committee thereof, or a designated
    employee at the level of senior management must be involved in the
    oversight, development, implementation, and administration of the
    Program. In addition, staff members must be trained, as necessary, to
    effectively implement the Program. Pursuant to Sec.  41.91, each credit
    and debit card issuer is required to establish and implement policies
    and procedures to assess the validity of a change of address request if
    it is followed within a short period of time by a request for an
    additional or replacement card. Before issuing the additional or
    replacement card, the card issuer must notify the cardholder of the
    request at the cardholder's former address or by any other means of
    communication that the card issuer and cardholder have previously
    agreed to use and provide the cardholder a reasonable means to promptly
    report incorrect address changes or use another means to assess the
    validity of the change of address.
        As required by section 315 of the FACT Act, 12 CFR 1022.82 \5\
    requires users of consumer reports to have in place reasonable policies
    and procedures that must be followed when a user receives a notice of
    address discrepancy from a CRA.
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        \5\ Title X of the Dodd-Frank Act transferred this regulation to
    the CFPB. The OCC retains enforcement authority for this regulation
    for institutions with $10 billion or less in total assets.
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        Section 1022.82 requires each user of consumer reports to develop
    and implement reasonable policies and procedures designed to enable the
    user to form a reasonable belief that a consumer report relates to the
    consumer about whom it requested the report when it receives a notice
    of address discrepancy from a CRA. A user of consumer reports also must
    develop and implement reasonable policies and procedures for furnishing
    a customer address that the user has reasonably confirmed to be
    accurate to the CRA from which it receives a notice of address
    discrepancy when the user can: (1) form a reasonable belief that the
    consumer report relates to the consumer about whom the user has
    requested the report; (2) establish a continuing relationship with the
    consumer; and (3) establish that it regularly and in the ordinary
    course of business furnishes information to the CRA from which it
    received the notice of address discrepancy.
        Type of Review: Regular.
        Affected Public: Individuals; Businesses or other for-profit.
        Estimated Number of Respondents: 1,172.
        Estimated Total Annual Burden: 130,342 hours.
        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 shall have practical utility;
        (b) The accuracy of the OCC's estimate of the burden of the
    collection of information;

    [[Page 18893]]

        (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. 2025-07642 Filed 5-1-25; 8:45 am]
    BILLING CODE 4810-33-P