38204 Federal Register / Vol. 83, No. 150 / Friday, August 3, 2018 / Notices 

13 78 FR 20603. 

1On March 23, 2018, the OCC published a 60-Day 

notice for this information collection. The 

comments can be viewed on www.reginfo.gov. 

Please follow the instructions listed in this notice 

to view them. 

should consider, and what are their 

advantages and disadvantages? 

(16) Currently, many crash avoidance 

technologies are sold as optional 

equipment on vehicles, and a variety of 

different advanced technology features 

may be available on different trim 

levels. How can NCAP best 

communicate whether crash avoidance 

technologies are standard vs. optional 

on a vehicle model or trim level to 

ensure consumers are given accurate 

information on the safety of the vehicle 

they are purchasing? How should 

equipment availability affect the ratings 

of vehicles? What metric should NHTSA 

use to determine when it is appropriate 

to remove an advanced technology from 

NCAP (e.g., replace a technology once it 

reaches a high level of fleet penetration 

and replace it with a technology with a 

low level of penetration)? 

D. Crashworthiness 

(17) What are the opportunities for 

crashworthiness safety improvement? 

How should NHTSA approach 

consideration of new tests, test 

protocols or test devices, new injury 

criteria, risk curves, or additional 

occupants to be more reflective of realworld crashes? Could meaningful 

changes to injury criteria and risk 

curves be made to the current crash test 

dummies in the existing test 

configurations? 

(18) Should NHTSA expand 

assessments beyond frontal and side 

crash testing? If so, how? For example, 

should NHTSA consider inclusion of 

other strategies, such as credit for 

enhanced seat belt reminders, or other 

technologies? 

(19) How can the crashworthiness 

aspects of NCAP complement other 

vehicle safety consumer information 

programs in the U.S.? For example, are 

the crash modes, crash test dummies 

and injury criteria used in NCAP 

complementary to those used by the 

IIHS? Do they strike the right balance for 

the frontal and side impact crash 

configurations? 

(20) Most new vehicles rated by 

NCAP are currently receiving 4- or 5- 

star ratings. These star ratings are based 

on how a vehicle’s risk of injury 

reflected in NCAP tests compares to a 

baseline injury risk for all crash types 

that was derived from NHTSA crash 

data for MY 2007 and 2008 vehicles. In 

its July 11, 2008, Federal Register notice 

announcing enhancements to NCAP, 

NHTSA indicated that it would 

periodically review the crash 

performance of the vehicle fleet, as 

reflected by then-current NCAP test 

data.13 However, NHTSA has not 

conducted any formal reviews or 

baseline risk adjustments to date. 

Should NHTSA now consider adjusting 

the baseline risks used in the ratings 

calculations to reflect the crash test data 

from today’s vehicles? Or, would there 

be a better approach to update the 

crashworthiness program to better 

differentiate performance among the 

vehicle fleet (e.g., new tests, dummies, 

injury criteria, etc.)? 

(21) How frequently should NCAP 

change crashworthiness test 

requirements and/or update rating 

requirements to stay relevant with each 

new model year vehicle fleet? What 

effect would year-to-year changes have 

on (a) the credibility and 

understandability of information 

provided to consumers and (b) the 

manufacturers? 

E. Meeting Agenda 

8–9 a.m. Arrival/Check-in through 

security 

9–9:10 a.m. Welcome remarks from 

NHTSA 

9:10–11:10 a.m. Speakers on consumer 

information 

11:10 a.m.–12:10 p.m. Speakers on 

rating system 

12:10–1:15 p.m. Lunch (not provided) 

1:15–3:15 p.m. Speakers on crash 

avoidance 

3:15–4:15 p.m. Speakers on 

crashworthiness 

4:15–4:50 p.m. Speakers on other 

topics 

4:50–5 p.m. Closing remarks from 

NHTSA 

Under authority delegated in 49 CFR 

1.95 and 501.5. 

Issued in Washington, DC on: July 27, 

2018. 

Heidi R. King, 

Deputy Administrator. 

[FR Doc. 2018–16653 Filed 8–2–18; 8:45 am] 

BILLING CODE 4910–59–P 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

Agency Information Collection 

Activities: Information Collection 

Renewal; Submission for OMB Review; 

Appraisal Management Companies 

AGENCY: Office of the Comptroller of the 

Currency (OCC), Treasury. 

ACTION: Notice and request for comment. 

SUMMARY: The OCC, as part of its 

continuing effort to reduce paperwork 

and respondent burden, invites the 

general public and other Federal 

agencies to take this opportunity to 

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 the renewal of its 

information collection titled, ‘‘Appraisal 

Management Companies.’’ The OCC also 

is giving notice that it has sent the 

collection to OMB for review. 

DATES: You should submit written 

comments by September 4, 2018. 

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: Legislative and Regulatory 

Activities Division, Office of the 

Comptroller of the Currency, Attention: 

1557–0324, 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) 465–4326. 

Instructions: You must include 

‘‘OCC’’ as the agency name and ‘‘1557– 

0324’’ in your comment. In general, the 

OCC will publish them on 

www.reginfo.gov without change, 

including any business or personal 

information that you provide, 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. 

Additionally, please send a copy of 

your comments by mail to: OCC Desk 

Officer, 1557–0324, U.S. Office of 

Management and Budget, 725 17th 

Street NW, #10235, Washington, DC 

20503 or by email to oira_submission@

omb.eop.gov. 

You may review comments and other 

related materials that pertain to this 

information collection 1 following the 

close of the 30-Day comment period for 


amozie on DSK3GDR082PROD with NOTICES1
Federal Register / Vol. 83, No. 150 / Friday, August 3, 2018 / Notices 38205 

this notice by any of the following 

methods: 

• Viewing Comments Electronically: 

Go to www.reginfo.gov. Click on the 

‘‘Information Collection Review’’ tab. 

Underneath the ‘‘Currently under 

Review’’ section heading, from the dropdown menu, select ‘‘Department of 

Treasury’’ and then click ‘‘submit’’. This 

information collection can be located by 

searching by OMB control number 

‘‘1557–0324’’ or ‘‘Appraisal 

Management Companies.’’ 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. 

• Viewing Comments Personally: You 

may personally inspect comments at the 

OCC, 400 7th Street, SW, Washington, 

DC. For security reasons, the OCC 

requires that visitors make an 

appointment to inspect comments. You 

may do so by calling (202) 649–6700 or, 

for persons who are deaf or hearing 

impaired, TTY, (202) 649–5597. Upon 

arrival, visitors will be required to 

present valid government-issued photo 

identification and submit to security 

screening in order to inspect comments. 

FOR FURTHER INFORMATION CONTACT: 

Shaquita Merritt, OCC Clearance 

Officer, (202) 649–5490 or, for persons 

who are deaf or hearing impaired, TTY, 

(202) 649–5597, Legislative and 

Regulatory Activities Division, Office of 

the Comptroller of the Currency, 400 7th 

Street, SW, suite 3E–218, Washington, 

DC 20219. 

SUPPLEMENTARY INFORMATION: Under the 

PRA (44 U.S.C. 3501–3520), 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. The OCC 

requests that OMB extend its approval 

of the following collection: 

Title: Appraisal Management 

Companies. 

OMB Control No.: 1557–0324. 

Affected Public: Business or other forprofit. 

Type of Review: Regular review. 

Abstract: The OCC, Board of 

Governors of the Federal Reserve 

System (FRB), Federal Deposit 

Insurance Corporation (FDIC), National 

Credit Union Administration (NCUA), 

Consumer Financial Protection Bureau 

(Bureau), and Federal Housing Finance 

Agency (FHFA) (Agencies) have rules 

implementing the minimum 

requirements in section 1473 of the 

Dodd-Frank Wall Street Reform and 

Consumer Protection Act to be applied 

by States in the registration and 

supervision of appraisal management 

companies (AMCs). The Agencies have 

also implemented the requirement in 

section 1473 of the Dodd-Frank Act for 

States to report to the Appraisal 

Subcommittee of the Federal Financial 

Institutions Examination Council 

(FFIEC) the information required by the 

Appraisal Subcommittee (ASC) to 

administer the new national registry of 

appraisal management companies (AMC 

National Registry or Registry). 

State Recordkeeping Requirements 

States seeking to register AMCs must 

have an AMC registration and 

supervision program. Section 34.213(a) 

requires each participating State to 

establish and maintain within its 

appraiser certifying and licensing 

agency a registration and supervision 

program with the legal authority and 

mechanisms to: (i) Review and approve 

or deny an application for initial 

registration; (ii) periodically review and 

renew, or deny renewal of, an AMC’s 

registration; (iii) examine an AMC’s 

books and records and require the 

submission of reports, information, and 

documents; (iv) verify an AMC’s panel 

members’ certifications or licenses; (v) 

investigate and assess potential law, 

regulation, or order violations; (vi) 

discipline, suspend, terminate, or deny 

registration renewals of, AMCs that 

violate laws, regulations, or orders; and 

(vii) report violations of appraisalrelated laws, regulations, or orders, and 

disciplinary and enforcement actions to 

the ASC. 

Section 34.213(b) requires each 

participating State to impose 

requirements on AMCs not owned and 

controlled by an insured depository 

institution and regulated by a Federal 

financial institutions regulatory agency 

to: (i) Register with and be subject to 

supervision by a State appraiser 

certifying and licensing agency in each 

State in which the AMC operates; (ii) 

use only State-certified or State-licensed 

appraisers for Federally regulated 

transactions in conformity with any 

Federally regulated transaction 

regulations; (iii) establish and comply 

with processes and controls reasonably 

designed to ensure that the AMC, in 

engaging an appraiser, selects an 

appraiser who is independent of the 

transaction and who has the requisite 

education, expertise, and experience 

necessary to competently complete the 

appraisal assignment for the particular 

market and property type; (iv) direct the 

appraiser to perform the assignment in 

accordance with Uniform Standards of 

Professional Appraisal Practices 

(USPAP); and (v) establish and comply 

with processes and controls reasonably 

designed to ensure that the AMC 

conducts its appraisal management 

services in accordance with section 

129E(a)–(i) of the Truth in Lending Act. 

State Reporting Burden 

Section 34.216 requires that each 

State electing to register AMCs for 

purposes of permitting AMCs to provide 

appraisal management services relating 

to covered transactions in the State must 

submit to the ASC the information 

required to be submitted under subpart 

H to part 34 and any additional 

information required by the ASC 

concerning AMCs. 

AMC Reporting Requirements 

Section 34.215(c) requires that a 

Federally regulated AMC must report to 

the State or States in which it operates 

the information required to be 

submitted by the State pursuant to the 

ASC’s policies, including: (i) 

Information regarding the determination 

of the AMC National Registry fee; and 

(ii) the information listed in § 34.214. 

Section 34.214 provides that an AMC 

may not be registered by a State or 

included on the AMC National Registry 

if such company is owned, directly or 

indirectly, by any person who has had 

an appraiser license or certificate 

refused, denied, cancelled, surrendered 

in lieu of revocation, or revoked in any 

State. Each person that owns more than 

10 percent of an AMC shall submit to 

a background investigation carried out 

by the State appraiser certifying and 

licensing agency. While § 34.214 does 

not authorize States to conduct 

background investigations of Federally 

regulated AMCs, it would allow a State 

to do so if the Federally regulated AMC 

chooses to register voluntarily with the 

State. 

AMC Recordkeeping Requirements 

Section 34.212(b) provides that an 

appraiser in an AMC’s network or panel 

is deemed to remain on the network or 

panel until: (i) The AMC sends a written 

notice to the appraiser removing the 

appraiser with an explanation; or (ii) 

receives a written notice from the 

appraiser asking to be removed or a 

notice of the death or incapacity of the 

appraiser. The AMC would retain these 

notices in its files. 


amozie on DSK3GDR082PROD with NOTICES1
38206 Federal Register / Vol. 83, No. 150 / Friday, August 3, 2018 / Notices 

Estimated Number of Respondents: 

200 AMCs; 55 States and Territories. 

Total Estimated Annual Burden: 421. 

The OCC issued a notice for 60 days 

of comment on March 23, 2018, 83 FR 

12843. One comment was received from 

a trade association representing 

appraisal management companies 

(AMCs). 

Topic 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 

In response to topic A, the commenter 

stated that the collection of information 

is ‘‘necessary and does have practical 

utility’’ but ‘‘only to the extent that the 

information collected serves the proper 

purpose to promote appraiser 

independence while ensuring a healthy 

real estate valuation market.’’ While not 

stated expressly, the commenter implies 

that the ‘‘proper purpose’’ of the 

collection is limited to collections 

relating appraiser independence. 

In response to this comment, the OCC 

notes that the purpose of the AMC rule 

and the collection is to implement all 

required elements of the statute, not 

only provisions that extend to appraiser 

independence. See 12 U.S.C. 3353(a) 

(setting minimum requirements for 

registration regulation in participating 

states); id. section 3353(d) (setting 

registration limitations for AMCs); and 

id. section 3353(e) (requiring reporting 

of information by AMCs to the ASC). 

The OCC and the other agencies that 

were party to the AMC rule were 

required to adopt regulations to 

implement the statutory requirements 

and the collection is a necessary 

component for implementation of these 

requirements. 

To the extent that the commenter 

disagrees with the scope and 

requirements of Title XI and the AMC 

rule, the OCC also notes that regulations 

may not be rescinded by the OCC 

through the PRA renewal process. 

Topic B: The Accuracy of the OCC’s 

Estimate of the Information Collection 

Burden 

In response to topic B, the commenter 

states that the burden estimates are too 

low. The commenter believes that the 

number of respondents is approximately 

twice what was estimated. The 

commenter also states that the actual 

number of AMCs will not be known 

until 2020 when the AMC National 

Registry is fully operational. 

The commenter indicates that its 

members believe that the estimate of the 

annual burden to comply is also too 

low. The commenter recommends that 

the estimate be increased to twice the 

current estimate. The commenter notes 

that each state differs in complexity of 

their demands for the collection of 

information and not all are on the same 

renewal schedule. Some renew annually 

and some biennially, which have 

varying burdens for preparation and 

validation. 

The burden estimates for this 

collection have historically been 

prepared on an industry-wide basis and 

then allotted to each agency. The FDIC 

prepared the industry-wide estimates 

for this renewal. We invite commenters 

to review the analysis, which is 

included in our supporting statement, 

and comment during the 30-day 

comment period. 

Topic C: Ways to Enhance the Quality, 

Utility, and Clarity of the Information to 

be Collected 

In response to topic C, the commenter 

suggested that the ASC should issue 

additional guidance to states and AMCs 

concerning the AMC minimum 

requirements. The goal of such guidance 

would be to ‘‘provide consistency in the 

implementation of the regulations and 

information required.’’ The commenter 

also expressed concern that wide 

variation of AMC requirements from 

state to state may have material 

unintended consequences on lending 

activity in a particular jurisdiction. 

In response to these comments, OCC 

notes that the commenter’s suggestions 

do not relate to the collection. In 

addition, while Title XI and the AMC 

rule set minimum standards for the 

registration and supervision of AMCs by 

states, Title XI and the AMC rule 

expressly provide that a state may adopt 

requirements in addition to those 

contained in the AMC regulation. 12 

U.S.C. 3353(b); 12 CFR 34.210(d). The 

OCC will, however, refer these 

suggestions to the ASC for 

consideration. 

Topic 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 

In response to topic D, the commenter 

recommends that the ASC ‘‘find 

opportunities to develop reporting 

efficiencies in the licensing system, 

which could include partnering with 

the Nationwide Multistate Licensing 

System (NMLS) or investing in a new 

process. Furthermore, the ASC should 

be more aggressive in supporting 

modernization of the outdated National 

Appraiser Registry (which AMCs must 

use to comply with the minimum 

requirements).’’ 

In response to these comments, OCC 

notes that the commenter’s suggestions 

do not relate to the collection. The OCC 

will, however, refer these suggestions to 

the ASC for consideration. 

Topic E: Estimates of Capital or Start-up 

Costs and Costs of Operation, 

Maintenance, and Purchase of Services 

to Provide Information 

The commenter stated that the 

‘‘estimated cost to implement the AMC 

minimum requirements and AMC 

Registry requirements in 50 states and 

the District of Columbia ranges from 

$250,000–$500,000 per AMC,’’ not 

including ‘‘the additional $100,000– 

$200,000 paid by AMCs to the ASC to 

be on the National AMC Registry.’’ 

In response to the comment, the OCC 

notes that the commenter has not 

segregated the costs relating to the 

collection from costs of complying with 

the substantive requirements of Title XI 

and the AMC rule. 

Comments continue to be 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 OCC’s 

estimate of the information collection 

burden; 

(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. 

Dated: July 30, 2018. 

Karen Solomon, 

Acting Senior Deputy Comptroller and Chief 

Counsel. 

[FR Doc. 2018–16639 Filed 8–2–18; 8:45 am] 

BILLING CODE 4810–33–P 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

Agency Information Collection 

Requirements; Information Collection 

Renewal; Submission for OMB Review; 

Release of Non-Public Information 

AGENCY: Office of the Comptroller of the 

Currency (OCC), Treasury. 

ACTION: Notice and request for comment. 

SUMMARY: The OCC, as part of its 

continuing effort to reduce paperwork 


amozie on DSK3GDR082PROD with NOTICES1