[Federal Register Volume 89, Number 199 (Tuesday, October 15, 2024)]
[Notices]
[Pages 83087-83088]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-23781]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Appraisal Management Companies

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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SUMMARY:  The OCC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites 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 a revision to its information collection titled, 
``Appraisal Management Companies.''

DATES:  Comments must be received by December 16, 2024.

ADDRESSES:  Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
    <bullet> Email: <a href="/cdn-cgi/l/email-protection#5d2d2f3c34333b321d323e3e73292f383c2e733a322b"><span class="__cf_email__" data-cfemail="770705161e1911183718141459030512160459101801">[email protected]</span></a>.
    <bullet> Mail: Chief Counsel's Office, Attention: Comment 
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0324, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
    <bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
    <bullet> Fax: (571) 293-4835.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0324'' in your comment. In general, the OCC will publish 
comments on www.reginfo.gov without change, including any business or 
personal information provided, 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.
    Following the close of this notice's 60-day comment period, the OCC 
will publish a second notice with a 30-day comment period. You may 
review comments and other related materials that pertain to this 
information collection beginning on the date of publication of the 
second notice for this collection by the method set forth in the next 
bullet.
    <bullet> Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' tab and click on 
``Information Collection Review'' from the drop-down menu. From the 
``Currently under Review'' drop-down menu, select ``Department of 
Treasury'' and then click ``submit.'' This information collection can 
be located by searching 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.
    <bullet> For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, 
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of 
the Currency, 400 7th Street SW, Washington, DC 20219. If you are deaf, 
hard of hearing, or have a speech disability, please dial 7-1-1 to 
access telecommunications relay services.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.), 
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. 
Section 3506(c)(2)(A) of title 44 generally requires Federal agencies 
to provide a 60-day notice in the Federal Register concerning each 
proposed collection of information, including each proposed extension 
of an existing collection of information, before submitting the 
collection to OMB for approval. To comply with this requirement, the 
OCC

[[Page 83088]]

is publishing notice of the renewal/revision of this collection.
    Title: Appraisal Management Companies.
    OMB Control No.: 1557-0324.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit.
    Description: This information collection comprises recordkeeping 
and disclosure requirements under regulations issued by the OCC, 
jointly with the Federal Deposit Insurance Corporation, the Board of 
Governors of the Federal Reserve System, the National Credit Union 
Administration, the Bureau of Consumer Financial Protection, and the 
Federal Home Finance Agency, that implement the minimum requirements in 
section 1473 of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act (Dodd-Frank Act) to be applied by States in the 
registration and supervision of appraisal management companies (AMCs). 
The regulations also implement 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 the information 
required by the ASC to administer the new national registry of 
appraisal management companies (AMC National Registry or Registry). The 
information collection requirements are established in 12 CFR part 34 
of the OCC's codified regulations. There is no change in the 
methodology or substance of this information collection. The decrease 
in total estimated annual burden from 2,455 in 2021 to 1,991 currently 
is due to a change in the estimated number or respondents.
    Estimated Burden:

                             Summary of Estimated Annual Burden (OMB No. 1557-0324)
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                                 Type of burden                      Number of       Time per
  Information Collection (IC)     (frequency of      Number of     responses per     response      Annual burden
    (obligation to respond)         response)       respondents     respondent        (HH:MM)         (hours)
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1. Written Notice of Appraiser  Disclosure (On             8,481               1           00:05             707
 Removal from Network or         occasion).
 Panel, 12 CFR 34.212(b)
 (Mandatory).
2. Develop and Maintain a       Recordkeeping                  1               1           40:00              40
 State Licensing Program, 12     (On occasion).
 CFR 34.213(a) and (b)
 (Mandatory).
3. AMC Disclosure Requirements  Disclosure (On             1,206               1           01:00           1,206
 (State regulated AMCs), 12      occasion).
 CFR 34.214 (Mandatory).
4. AMC Disclosure Requirements  Disclosure (On                38               1           01:00              38
 (Federally-regulated AMCs),     occasion).
 12 CFR 34.215(c) (Mandatory).
                                                 ---------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............           1,991
     (Hours):.
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    Estimated Total Annual Burden: 1,991 hours.
    Comments submitted in response to this notice will be summarized 
and included in the request for OMB approval. All comments will become 
a matter of public record. Comments are 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 burden of the 
collection of information;
    (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.

Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2024-23781 Filed 10-11-24; 8:45 am]
BILLING CODE 4810-33-P


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