Document headings vary by document type but may contain
                    the following: the agency or agencies that issued and signed a document
the number of the CFR title and the number of each part
                      the document amends, proposes to amend, or is directly
                      related to
the agency docket number / agency internal file number
the RIN which identifies each regulatory action listed in
                      the Unified Agenda of Federal Regulatory and Deregulatory
                      Actions See the
                    Document Drafting Handbook
                    for more details.
 Federal Deposit Insurance Corporation [OMB No. 3064-0082 -0084]
 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 April 27, 2021.
 ADDRESSES: Interested parties are invited to submit written comments to the FDIC by any of the following methods: *https://www.FDIC.gov/​regulations/​laws/​federal.*
                    *Email: comments@fdic.gov.*
                         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 building (located on F Street), 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, 
                        *mcabeza@fdic.gov,*
                         MB-3128, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429.


SUPPLEMENTARY INFORMATION: *Proposal to renew the following currently approved collections 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:*
                     The total estimated annual burden is 2,395,630 hours (36 hours estimated implementation burden, plus 2,395,594 hours estimated ongoing burden). The burden estimate is detailed on the following
                    
                     tables: Implementation (One-Time) Burden Estimate
Obligation to respond/
                             type of burden
Estimated
                             number of 
                             
                                respondents
                                1
Estimated
                             average 
                             number 
                             of credit 
                             accounts
Frequency
                             of response
Number of
                             responses
Estimated
                             time per 
                             response 
                             (minutes)
Total
                             estimated 
                             annual 
                             burden 
                             (hours)**Open-End Credit Products**• 
                            **Not Home-Secured Open-End Credit Plans**Credit and Charge Card Provisions:Timely Settlement of Estate Debts (1026.11(c)(1)) Written Policies and Procedures
Mandatory Recordkeeping
1
N/A
1
1
480.00
8Ability to Pay (1026.51(a)(ii)) Written Policies and Procedures
Mandatory Recordkeeping
1
N/A
1
1
480.00
8**Mortgage Products (Open and Closed-End)**• 
                            **Valuation Independence**Mandatory Reporting:Implementation of Policies and Procedures (1026.42(g))
Mandatory Recordkeeping
1
N/A
1
0
1,200.00
20Total Estimated Implementation Burden






36
 
 
 Ongoing Burden Estimate
Obligation to respond/
                             type of burden
Estimated
                             number of 
                             
                                respondents
                                1
Estimated
                             average 
                             number 
                             of credit 
                             accounts
Frequency
                             of response
Number of
                             responses
Estimated
                             time per 
                             response 
                             (minutes)
Total
                             estimated 
                             annual 
                             burden 
                             (hours)**Open-End Credit Products**• 
                            **Not Home-Secured Open-End Credit Plans**General Disclosure Rules for Not Home-Secured Open-End Credit Plans:Credit and Charge Card Applications and Solicitations (1026.60)
Mandatory Disclosure
634
N/A
1
634
480.00
5,072Account Opening Disclosures (1026.6(b))
Mandatory Disclosure
634
N/A
1
634
720.00
7,608Periodic Statements (1026.7(b))
Mandatory Disclosure
634
N/A
12
7,608
480.00
60,864Annual Statement of Billing Rights (1026.9(a)(1))
Mandatory Disclosure
317
N/A
1
317
480.00
2,536Alternative Summary Statement of Billing Rights (1026.9(a)(2))
Voluntary Disclosure
317
N/A
12
3,804
480.00
30,432Change in Terms Disclosures (1026.9(b) through (h))
Mandatory Disclosure
634
N/A
1
634
480.00
5,072Credit and Charge Card Provisions:Timely Settlement of Estate Debts (1026.11(c)(2))
Mandatory Disclosure
634
428
1
271,352
5.00
22,613Ability to Pay (1026.51)
Mandatory Recordkeeping
634
N/A
1
634
720.00
7,608College Student Credit Annual Report (1026.57(d))
Mandatory Reporting
634
N/A
1
634
480.00
5,072Submission of Credit Card Agreements (1026.58(c))
Mandatory Reporting
634
N/A
4
2,536
180.00
7,608Internet Posting of Credit Card Agreements (1026.58(d))
Mandatory Disclosure
634
N/A
4
2,536
360.00
15,216Individual Credit Card Agreements (1026.58(e))
Mandatory Disclosure
634
125
1
79,250
15.00
19,813• 
                            **Home Equity Open-End Credit Plans (HELOC)**• 
                            **General Disclosure Rules for HELOC's:**Application Disclosures (1026.40)
Mandatory Disclosure
2,717
N/A
1
2,717
720.00
32,604Account Opening Disclosures (1026.6(a))
Mandatory Disclosure
2,717
N/A
1
2,717
720.00
32,604Periodic Statements (1026.7(a))
Mandatory Disclosure
2,717
N/A
1
2,717
480.00
21,736Annual Statement of Billing Rights (1026.9(a)(1))
Mandatory Disclosure
2,717
N/A
1
2,717
480.00
21,736Alternative Summary Statement of Billing Rights (1026.9(a)(2))
Voluntary Disclosure
2,717
N/A
1
2,717
480.00
21,736Change in Terms Disclosures (1026.9(b) through (h))
Mandatory Disclosure
2,717
N/A
1
2,717
480.00
21,736Notice to Restrict Credit (1026.9(c)(1)(iii); .40(f)(3)(i) and (vi))
Mandatory Disclosure
2,717
N/A
1
2,717
120.00
5,434• 
                            **All Open-End Credit Plans**Error Resolution (1026.13)
Mandatory Disclosure
3,624
2,963
1
10,737,912
1.0
178,965**Closed-End Credit Products**• 
                            **General Rules for Closed-End Credit**Other than Real Estate, Home-Secured and Private Education Loans (1026.17 and .18)
Mandatory Disclosure
1
N/A
1
1
720.00
12• 
                            **Closed-End Mortgages**Application and Consummation:Loan Estimate (1026.19(e); and .37)
Mandatory Disclosure
3,628
N/A
1
3,628
480.00
29,024Closing Disclosure (1026.19(f); and .38)
Mandatory Disclosure
3,628
N/A
1
3,628
480.00
29,024Record Retention of Disclosures (1026.19(e), (f); .37; and .38)
Mandatory Recordkeeping
3,628
N/A
1
3,628
18.00
1,088Post-Consummation Disclosures:Interest Rate and Payment Summary (1026.18(s))
Mandatory Disclosure
3,628
N/A
1
3,628
2,400.00
145,120No Guarantee to Refinance Statement (1026.18(t))
Mandatory Disclosure
3,628
N/A
1
3,628
480.00
29,024ARMs Rate Adjustments with Payment Change Disclosures (1026.20(c))
Mandatory Disclosure
3,628
N/A
1
3,628
90.00
5,442Initial Rate Adjustment Disclosure for ARMs (1026.20(d))
Mandatory Disclosure
3,628
N/A
1
3,628
120.00
7,256Escrow Cancellation Notice (1026.20(e))
Mandatory Disclosure
3,628
N/A
1
3,628
480.00
29,024Periodic Statements (1026.41)
Mandatory Disclosure
3,628
N/A
1
3,628
480.00
29,024Ability to Repay Requirements:Minimum Standards (1026.43(c) through (f))
Mandatory Recordkeeping
3,628
926
1
3,359,528
15.00
839,882Prepayment Penalties (1026.43(g))
Mandatory Disclosure
3,628
16
1
58,048
12.00
11.610( print page 11773)**Mortgage Products (Open and Closed-End)**• 
                            **Mortgage Servicing Disclosures**Payoff Statements:Payoff Statements (1026.36(c)(3))
Mandatory Disclosure
3,628
N/A
1
3,628
480.00
29,024Notice of Sale or Transfer:Notice of Sale or Transfer (1026.39)
Mandatory Disclosure
3,628
N/A
1
3,628
480.00
29,204• 
                            **Valuation Independence****Mandatory Reporting:**Reporting Appraiser Noncompliance (1026.42(g))
Mandatory Reporting
3,628
1
1
3,628
10.00
605**Reverse and High-Cost Mortgages**• 
                            **Reverse Mortgages**Reverse Mortgage Disclosures:Reverse Mortgage Disclosures (1026.31(c)(2) and .33)
Mandatory Disclosure
14
N/A
1
14
1,440.00
336• 
                            **High-Cost Mortgage Loans**HOEPA Disclosures and Notice:HOEPA Disclosures and Notice (1026.32(c)
Mandatory Disclosure
3,628
N/A
1
3,628
14.00
847**Private Education Loans**• 
                            **Initial Disclosures**Application and Solicitation Disclosures:Application or Solicitation Disclosures (1026.47(a))
Mandatory Disclosure
3,561
N/A
1
3,561
3,600.00
213,660Approval Disclosures:Approval Disclosures (1026.47(b))
Mandatory Disclosure
3,561
N/A
1
3,561
3,600.00
213,660Final Disclosures:Final Disclosures (1026.47(c))
Mandatory Disclosure
3,561
N/A
1
3,561
3600.00
213,660**Advertising Rules**• 
                            **All Credit Types**Open-End Credit:Open-End Credit (1026.16)
Mandatory Disclosure
3,624
5
1
18,120
20.00
6,040Closed-End Credit:Closed-End Credit (1026.24)
Mandatory Disclosure
3,628
5
1
18,140
20.00
6,047**Record Retention**• 
                            **Evidence of Compliance**Regulation Z in General (1026.25)
Mandatory Recordkeeping
3,652
N/A
1
3,652
18.00
1,096Total Estimated Ongoing Burden






2,395,594Total Estimated Annual Burden






2,395,630
 *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. 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.
                    ( print page 11774) *Affected Public:*
                     FDIC-supervised institutions. *Burden Estimate:* Summary of Annual Burden
Type of 
                             burden
Obligation 
                             to respond
Estimated 
                             number of  
                             respondents
Estimated 
                             time per  
                             response  
                             (hours)
Estimated 
                             frequency
Frequency 
                             of response
Total annual 
                             estimated  
                             burden**Reg. E—12 C.F.R. Part 1005***Initial disclosures:*General (1005.7(b))
Disclosure
Mandatory
3,674
0.025
83
On Occasion
7,624Payroll cards (1005.18(c)(1))
Disclosure
Mandatory
6
0.025
5,000
On Occasion
750*Change-in-terms (1005.8(a))*
Disclosure
Mandatory
3,674
0.017
113
On Occasion
6,919*Transaction disclosures (sections 1005.9(a) and 1005.10)*
Disclosure





0*Periodic statements (section 1005.9(b))*
Disclosure





0*Error resolution rules:*General (1005.8(b) and 1005.11)
Disclosure
Mandatory
3,674
0.500
3
On Occasion
5,511Payroll cards (1005.18)
Disclosure
Mandatory
6
0.500
8
On Occasion
24*Overdraft opt-in disclosures (1005.17, FRB* 
                                *R-1343):*Revise and update initial disclosures (1005.17(c)(2)) for new customers
Disclosure
Mandatory
3,625
16.000
1
On Occasion
58,000Prepare and send new opt-in notices to existing customers (1005.17(c)(1))
Disclosure
Mandatory
3,625
16.000
1
On Occasion
58,000Consumer response (section 1005.17)
Recordkeeping
Voluntary
3,625
0.083
7,207
On Occasion
2,177,115*Gift card/gift certificate (section 1005.20, FRB R-1377):*Exclusion policies & procedures (1005.20(b)(2)) one-time
Recordkeeping
Mandatory
6
40.000
1
On Occasion
240Exclusion policies & procedures (1005.20(b)(2)) ongoing
Recordkeeping
Mandatory
6
8.000
1
On Occasion
48Policy & procedures (1005.20(e)(1)) one-time
Recordkeeping
Mandatory
6
40.000
1
On Occasion
240Policy & procedures (1005.20(e)(1)) ongoing
Recordkeeping
Mandatory
6
8.000
1
On Occasion
48Systems change to implement disclosure update (1005.20(e)(3))
Disclosure
Mandatory
6
40.000
1
On Occasion
240Subtotal Reg. E Burden






2,314,759
 *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 has 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. There is no change in the method or substance of the collection. The overall reduction in burden hours is the result of economic fluctuation and the reduced number of FDIC-supervised institutions since the last submission in 2014. In particular, the number of respondents has decreased while the hours per response and frequency of responses have remained the same. Request for Comment Comments are invited on: (a) Whether the collection of information is 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 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; and (d) ways to minimize the burden of the collection of information on respondents, including through the 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 February 23, 2021. James P. Sheesley, Assistant Executive Secretary.


# Footnotes

1.
    
                         FDIC estimates that all existing FDIC-supervised institutions have implemented the policies and procedures required by Regulation Z and will only face the estimated ongoing (transaction) burdens reflected in the Ongoing Burden Estimate table. The respondent count of 1 is intended as a placeholder for the associated burden estimate to account for any institution(s) that may become subject to the information collection requirements in the future. Back to Citation


[FR Doc. 2021-04046 Filed 2-25-21; 8:45 am] BILLING CODE 6714-01-P