[Federal Register Volume 89, Number 189 (Monday, September 30, 2024)]
[Notices]
[Page 79591]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-22325]


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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 
Interagency Guidance on Managing Compliance and Reputation Risks for 
Reverse Mortgage Products (FR 4029; OMB No. 7100-0330).

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, <a href="/cdn-cgi/l/email-protection#1c7269747d327970717d7b746e7d7e755c7a6e7e327b736a"><span class="__cf_email__" data-cfemail="f19f849990df949d9c90969983909398b1978393df969e87">[email protected]</span></a>, (202) 
452-3884.
    Office of Management and Budget (OMB) Desk Officer for the Federal 
Reserve Board, 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 Paperwork Reduction Act (PRA) to approve and assign 
OMB control numbers to collections of information conducted or 
sponsored by the Board. Board-approved 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 (which contain more detailed 
information about the information collections and burden estimates than 
this notice), 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/reportingforms/home/review or may 
be requested from the agency clearance officer, whose name appears 
above. On the page displayed at the link above, you can find the 
supporting information by referencing the collection identifier, FR 
4029.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Information Collection

    Collection title: Interagency Guidance on Managing Compliance and 
Reputation Risks for Reverse Mortgage Products.
    Collection identifier: FR 4029.
    OMB control number: 7100-0330.
    General description of collection: In August 2010, the Federal 
Financial Institutions Examination Council FFIEC, on behalf of its 
member agencies, published a Federal Register notice adopting 
supervisory guidance titled ``Reverse Mortgage Products: Guidance for 
Managing Compliance and Reputation Risks.'' The guidance is designed to 
assist financial institutions with risk management and efforts to 
ensure that their reverse mortgage lending practices adequately address 
consumer compliance and reputation risks. The reverse mortgage guidance 
discusses the disclosures and recordkeeping required by federal laws 
and regulations and also discusses consumer disclosures that financial 
institutions typically provide as a standard business practice. Certain 
portions of the guidance are information collections subject to PRA 
requirements and are what are included in the FR 4029.
    Frequency: Event-generated.
    Respondents: State member banks, Edge and Agreement corporations, 
bank holding companies, savings and loan holding companies, foreign 
banking organizations, and branches and agencies of foreign banks.
    Total estimated number of respondents: 5.
    Total estimated annual burden hours: 72.
    Current actions: On March 29, 2024, the Board published a notice in 
the Federal Register (89 FR 22148) requesting public comment for 60 
days on the extension, without revision, of the FR 4029. The comment 
period for this notice expired on May 28, 2024. The Board did not 
receive any comments.

    Board of Governors of the Federal Reserve System, September 25, 
2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-22325 Filed 9-27-24; 8:45 am]
BILLING CODE 6210-01-P


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