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[Federal Register Volume 89, Number 14 (Monday, January 22, 2024)]
[Notices]
[Pages 3923-3925]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-01092]

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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0085; -0149; -0194]

Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its obligations under the Paperwork 
Reduction Act of 1995, invites the general public and other Federal 
agencies to take this opportunity to comment on the request to renew 
the existing information collections described below (OMB Control No. 
3064-0085; -0149; -0194). The notices of the proposed renewal for these 
information collections were previously published in the Federal 
Register on November 15, 2023, allowing for a 60-day comment period.

DATES: Comments must be submitted on or before February 21, 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.
    Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to www.reginfo.gov/public/do/PRAMain. Find this particular information 
collection by selecting ``Currently under 30-day Review--Open for 
Public Comments'' or by using the search function.

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 and Disclosure Requirements in Connection 
With Regulation B (Equal Credit Opportunity).
    OMB Number: 3064-0085.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

                                   Table 1--Summary of Estimated Annual Burden
                                               [OMB No. 3064-0085]
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                                 Type of burden                      Number of       Time per
    Information collection        (frequency of      Number of     responses per     response      Annual burden
    (obligation to respond)         response)       respondents     respondent        (HH:MM)         (hours)
----------------------------------------------------------------------------------------------------------------
1. Record Retention             Recordkeeping              2,917           1,333           00:03         194,418
 (Applications, Actions, Pre-    (On Occasion).
 Screened Solicitations)
 (1002.12) (Mandatory).
2. Record Retention (Self-      Recordkeeping                  1               1           00:03               0
 Testing) (1002.12(b)(6))        (On Occasion).
 (Mandatory).
3. Credit Reporting History     Reporting                  2,917              12           00:01             583
 (1002.10) (Mandatory).          (Monthly).
4. Demographic Information      Reporting                  2,917             276           00:01          13,418
 Collected for Monitoring        (Annual).
 Purposes (1002.13 (a) & (b))
 (Mandatory).
5. Disclosure for Optional      Disclosure (On                 1              92           00:02               3
 Self-Test (1002.5)              Occasion).
 (Mandatory).
6. Notification of Action       Disclosure (On             2,917             333           00:03          48,568
 (1002.9) (Mandatory).           Occasion).
7. Appraisal Report             Disclosure (On             2,917             276           00:03          40,255
 (1002.14(a)(1)) (Mandatory).    Occasion).
8. Notice of Right to           Disclosure (On             2,917             276           00:01          13,418
 Appraisal (1002.14(a)(2))       Occasion).
 (Mandatory).
9. Recordkeeping of Credit      Recordkeeping              1,612             873           00:10         234,546
 Applications from Small         (On Occasion).
 Businesses (1002.107(a))
 (Mandatory).
10. Initial implementation of   Recordkeeping                973               1          456:00         443,688
 System to Support               (One-time).
 Requirements in IC 9
 (Mandatory).

[[Page 3924]]

 
11. Record Retention of Small   Recordkeeping              1,612               1           00:10             269
 Business Lending Data           (Annual).
 (1002.111) (Mandatory).
12. Reporting Small Business    Reporting                    639               1          120:00          76,680
 Lending Data to CFPB            (Annual).
 (1002.109) (Mandatory).
13. Initial Implementation      Reporting (One-              601               1           40:00          24,040
 Activities to Support           time).
 Requirements in IC 12
 (Mandatory).
14. Notice of                   Disclosure (On             1,612             873            0:01          23,455
 Nondiscrimination to            Occasion).
 Applicants (1002.107)
 (Mandatory).
15. Initial implementation      Disclosure (One-             973               1           40:00          38,920
 Activities for Requirements     time).
 in IC 14 (Mandatory).
16. ``Firewall'' Exception      Disclosure (On               967             873            0:01          14,070
 Notification (1002.108)         Occasion).
 (Required to obtain benefit).
17. Initial Implementation      Disclosure (One-             322               1           40:00          12,880
 Activities for Requirements     time).
 in IC 16 (Required to obtain
 benefit).
18. Website Disclosure of       Disclosure (One-             601               1            8:00           4,808
 Small Business Lending Data     time).
 (1002.110(c ) & (d))
 (Mandatory).
                               ---------------------------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............       1,184,019
     (Hours).
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Source: FDIC.
Note: The annual burden estimate for a given collection is calculated in two steps. First, the total number of
  annual responses is calculated as the whole number closest to the product of the annual number of respondents
  and the annual number of responses per respondent. Then, the total number of annual responses is multiplied by
  the time per response and rounded to the nearest hour to obtain the estimated annual burden for that
  collection. This rounding ensures the annual burden hours in the table are consistent with the values recorded
  in the OMB's regulatory tracking system.

    General Description of Collection: Regulation B (12 CFR part 1002), 
issued by the Consumer Financial Protection Bureau (``CFPB''), 
prohibits creditors from discriminating against applicants on any bases 
specified by the Equal Credit Opportunity Act; imposes reporting, 
record keeping and disclosure requirements; establishes guidelines for 
gathering and evaluating credit information; and requires creditors to 
give applicants certain written notices.
    The information collection is being revised to include 10 new 
information collection requirements created by subpart B, (sections 
1002.101-1002.114),\1\ which addresses lending to small businesses. The 
total estimated annual burden for this information collection is 
1,184,019 hours, which represents an increase of 734,884 hours relative 
to the estimate of 449,135 reported by the OMB in 2021. The increase is 
primarily attributable to the inclusion of 10 new information 
collections introduced by subpart B, (sections 1002.101-1002.114) of 
the final rule issued by the CFPB in May 2023.
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    \1\ See the final rule issued by the Consumer Financial 
Protection Bureau, ``Small Business Lending Under the Equal Credit 
Opportunity Act'' at 88 FR 35150 (May 31, 2023).
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    2. Title: Affiliate Marketing/Consumer Opt-out Notices.
    OMB Number: 3064-0149.
    Forms: None.
    Affected Public: Insured state nonmember banks and state savings 
associations that have affiliates and consumers that have a 
relationship with the foregoing.
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0149]
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                                 Type of burden                      Number of       Time per
    Information collection        (frequency of      Number of     responses per     response      Annual burden
    (obligation to respond)         response)       respondents     respondent        (HH:MM)         (hours)
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Affiliate Marketing             Third-Party                    8               1           06:00             144
 Disclosure--Implementation.     Disclosure
 (Mandatory).                    (Annual).
Consumer Opt Out Notices        Third-Party              857,027               1           00:05          71,419
 (Voluntary).                    Disclosure
                                 (Annual).
Affiliate Marketing             Third-Party                  990               1           02:00           1,980
 Disclosure--Ongoing             Disclosure
 (Mandatory).                    (Annual).
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[[Page 3925]]

 
    Total Annual Burden         ................  ..............  ..............  ..............          73,543
     (Hours).
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Source: FDIC.

    General Description of Collection: Section 214 of the FACT Act 
requires financial institutions that wish to share information about 
consumers with their affiliates, to inform such consumers that they 
have the opportunity to opt out of such marketing solicitations. The 
disclosure notices and consumer responses thereto comprise the elements 
of this collection of information. There is no change in the method or 
substance of the collection.
    3. Title: Covered Financial Company Asset Purchaser Eligibility 
Certification.
    OMB Number: 3064-0194.
    Forms: 7300/10.
    Affected Public: Any individual or entity that is a potential 
purchaser of assets from (1) the FDIC as receiver for a Covered 
Financial Company (CFC); or (2) a bridge financial company (BFC) which 
requires the approval of the FDIC, as receiver for the predecessor CFC 
and as the sole shareholder of the BFC (e.g., the BFC's sale of a 
significant business line).
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0194]
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                                 Type of burden                      Number of       Time per
    Information collection        (frequency of      Number of     responses per     response      Annual burden
    (obligation to respond)         response)       respondents     respondent        (HH:MM)         (hours)
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Covered Financial Company       Reporting.......              66               1           02:30             165
 Asset Sales Purchaser
 Eligibility Certification.
                               ---------------------------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............             165
     (Hours).
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Source: FDIC.

    General Description of Collection: The Covered Financial Company 
(CFC) Asset Purchaser Eligibility implements the statutory requirement 
that assets held by the FDIC in the course of liquidating any covered 
financial company not be sold to persons who contributed in specified 
ways to the demise of a covered financial company. The FDIC implemented 
this requirement in its regulations at 12 CFR 380.13. Prospective 
purchasers are required to complete and submit a Purchaser Eligibility 
Certification (PEC) to the FDIC. The PEC is a self-certification by a 
prospective purchaser that it does not fall into any of the categories 
of individuals or entities that are prohibited by statute or regulation 
from purchasing assets of a CFC. The PEC will be required of any 
individual or entity that is a potential purchaser of assets from the 
FDIC, whether in its corporate capacity or as a conservator or 
receiver, for (1) a CFC; or (2) a Bridge Financial Company (BFC).
    The FDIC is increasing the total burden associated with this 
collection from 5 hours to 165 hours. The estimate for the number of 
respondents has increased from 10 to 66. The responses per respondent 
is unchanged from the 2021 submission. The estimate for hours per 
response represents a 1.5-hour increase from the 2021 submission. This 
increase is due to a change in calculation methodology.

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 January 16, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-01092 Filed 1-19-24; 8:45 am]
BILLING CODE 6714-01-P
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