8012 Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Notices 

FEDERAL RESERVE SYSTEM 

Agency Information Collection 

Activities: Announcement of Board 

Approval Under Delegated Authority 

and Submission to OMB 

AGENCY: Board of Governors of the 

Federal Reserve System. 

SUMMARY: The Board of Governors of the 

Federal Reserve System (Board) is 

adopting a proposal to extend for three 

years, without revision, the Disclosure 

Requirements Associated with CFPB’s 

Regulation DD (FR DD; OMB No. 7100– 

0271). 

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, Washington, DC 20551, (202) 

452–3829. 

Office of Management and Budget 

(OMB) Desk Officer—Shagufta Ahmed— 

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. 

SUPPLEMENTARY INFORMATION: On June 

15, 1984, OMB delegated to the Board 

authority under the PRA to approve and 

assign OMB control numbers to 

collections of information conducted or 

sponsored by the Board. Boardapproved collections of information are 

incorporated into the official OMB 

inventory of currently approved 

collections of information. The OMB 

inventory, as well as copies of the PRA 

Submission, supporting statements, and 

approved collection of information 

instrument(s) are available at https://

www.reginfo.gov/public/do/PRAMain. 

These documents are also available on 

the Federal Reserve Board’s public 

website at https://

www.federalreserve.gov/apps/ 

reportforms/review.aspx or may be 

requested from the agency clearance 

officer, whose name appears above. 

Final Approval Under OMB Delegated 

Authority of the Extension for Three 

Years, Without Revision, of the 

Following Information Collection 

Report title: Disclosure Requirements 

Associated with CFPB’s Regulation DD. 

Agency form number: FR DD. 

OMB control number: 7100–0271. 

Frequency: Monthly. 

Respondents: Except those that are 

supervised by the Consumer Financial 

Protection Bureau (CFPB), 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 (12 U.S.C. 601– 

604a). The CFPB supervises, among 

other institutions, insured depository 

institutions with over $10 billion in 

assets and their affiliates (including 

affiliates that are themselves depository 

institutions regardless of asset size and 

subsidiaries of such affiliates). 

Estimated number of respondents: 

Account disclosures, Change in terms 

notice, Notices prior to maturity, 

Periodic statement disclosure and 

additional disclosure requirements for 

overdraft services, and Advertising and 

additional disclosure requirements for 

overdraft services, 835. 

Estimated average hours per response: 

Account disclosures, 1 hour; Change in 

terms notice, 1.5 hours; Notices prior to 

maturity, 1.5 hours; Periodic statement 

disclosure and additional disclosure 

requirements for overdraft services, 8 

hours; and Advertising and additional 

disclosure requirements for overdraft 

services, 0.5 hour. 

Estimated annual burden hours: 

Account disclosures, 10,020 hours; 

Change in terms notice, 15,030 hours; 

Notices prior to maturity, 15,030 hours; 

Periodic statement disclosure and 

additional disclosure requirements for 

overdraft services, 80,160 hours; and 

Advertising and additional disclosure 

requirements for overdraft services, 

5,010 hours. 

General description of report: The 

Truth in Savings Act (TISA) was 

contained in the Federal Deposit 

Insurance Corporation Improvement Act 

of 1991. The purpose of TISA and its 

implementing regulation is to assist 

consumers in comparing deposit 

accounts offered by institutions, 

principally through the disclosure of 

fees, the annual percentage yield (APY), 

and other account terms. TISA requires 

depository institutions to disclose key 

terms for deposit accounts at account 

opening, upon request, when certain 

changes in terms occur, and in periodic 

statements. It also includes rules about 

advertising for deposit accounts. TISA 

does not provide exemptions from 

compliance for small institutions. 

Legal authorization and 

confidentiality: Section 269 of TISA 

specifically authorizes the CFPB ‘‘to 

prescribe regulations’’ to carry out the 

purposes and provisions of the Act, as 

well as to adopt model forms and 

clauses for common disclosures to 

facilitate compliance. Regulation DD 

implements this statutory provision. 

The Board’s imposition of the disclosure 

requirements on Board-supervised 

institutions is authorized by Section 270 

of TISA. 

Current actions: On October 14, 2020, 

the Board published an initial notice in 

the Federal Register (85 FR 65049) 

requesting public comment for 60 days 

on the extension, without revision, of 

the FR DD. The comment period for this 

notice expired on December 14, 2020. 

The Board received one comment, 

however, this comment was outside the 

scope of FR DD. The Board will adopt 

the extension, without revision, of the 

FR DD as originally proposed. 

Board of Governors of the Federal Reserve 

System, January 28, 2021. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2021–02201 Filed 2–2–21; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Agency Information Collection 

Activities: Announcement of Board 

Approval Under Delegated Authority 

and Submission to OMB 

AGENCY: Board of Governors of the 

Federal Reserve System. 

SUMMARY: The Board of Governors of the 

Federal Reserve System (Board) is 

adopting a proposal to extend for three 

years, without revision, the Senior Loan 

Officer Opinion Survey on Bank 

Lending Practices (FR 2018; OMB No. 

7100–0058). 

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, Washington, DC 20551, (202) 

452–3829. 

Office of Management and Budget 

(OMB) Desk Officer—Shagufta Ahmed— 

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. 

SUPPLEMENTARY INFORMATION: On June 

15, 1984, OMB delegated to the Board 

authority under the PRA to approve and 

assign OMB control numbers to 

collections of information conducted or 

sponsored by the Board. Boardapproved collections of information are 

incorporated into the official OMB 

inventory of currently approved 

collections of information. The OMB 

inventory, as well as copies of the PRA 

Submission, supporting statements, and 

approved collection of information 

instrument(s) are available at https://

www.reginfo.gov/public/do/PRAMain. 


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