Federal Register / Vol. 87, No. 16 / Tuesday, January 25, 2022 / Notices 3809 

1 12 U.S.C. 1831x. The Board also has the 

authority to require reports from state member 

banks. 12 U.S.C. 248(a) and 324. 2 5 U.S.C. 552(b)(8). 

Board of Governors of the Federal Reserve 

System, January 19, 2022. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–01418 Filed 1–24–22; 8:45 am] 

BILLING CODE 6210–01–P 

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, with revision the Disclosure 

Requirements of Subpart H of 

Regulation H (Consumer Protection in 

Sales of Insurance) (FR H–7; OMB No. 

7100–0298). 

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, Washington, DC 20551, (202) 

452–3829. 

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. Boardapproved 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, 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/ 

reportforms/review.aspx or may be 

requested from the agency clearance 

officer, whose name appears above. 

Final Approval Under OMB Delegated 

Authority of the Extension for Three 

Years, With Revision, of the Following 

Information Collection 

Report title: Disclosure Requirements 

of Subpart H of Regulation H (Consumer 

Protection in Sales of Insurance). 

Agency form number: FR H–7. 

OMB control number: 7100–0298. 

Effective Date: January 25, 2022. 

Frequency: On occasion. 

Respondents: State member banks or 

any other person at an office of a bank 

or on behalf of a bank (collectively, 

Covered Persons). 

Estimated number of respondents: 

Insurance and extension of credit, 341; 

advertisements, 341. 

Estimated average hours per response: 

Insurance and extension of credit, 1.5 

minutes; advertisements, 25 minutes. 

Estimated annual burden hours: 

Insurance and extension of credit, 5,371; 

advertisements, 142. 

General description of report: The 

insurance consumer protection rules in 

Regulation H require depository 

institutions to prepare and provide 

certain disclosures to consumers. The 

disclosure requirements are codified at 

12 CFR 208.81 et seq. and require 

Covered Persons to make certain 

disclosures: Before the completion of 

the initial purchase of an insurance 

product or annuity by a consumer; at 

the time a consumer applies for an 

extension of credit in connection with 

which an insurance product or annuity 

is solicited, offered, or sold; and in 

advertisements and promotional 

materials for insurance products or 

annuities. 

Legal authorization and 

confidentiality: The Disclosure 

Requirements of Subpart H of 

Regulation H are authorized by section 

305 of the Gramm-Leach-Bliley Act of 

1999, which requires that the Board 

issue regulations, including disclosure 

requirements, applicable to retail sales 

practices, solicitations, advertising, or 

offers of insurance by depository 

institutions.1 The disclosures required 

under Subpart H of Regulation H are 

mandatory. 

Because the FR H–7 disclosures are 

provided by state member banks to 

customers, confidentiality issues should 

generally not arise. In the event the 

records are obtained by the Board as 

part of the examination or supervision 

of a financial institution, this 

information may be considered 

confidential pursuant to exemption 8 of 

the Freedom of Information Act, which 

protects information contained in 

‘‘examination, operating, or condition 

reports’’ obtained in the bank 

supervisory process.2

Current actions: On October 5, 2021, 

the Board published a notice in the 

Federal Register (86 FR 54978) 

requesting public comment for 60 days 

on the extension, with revision, of the 

Disclosure Requirements of Subpart H 

of Regulation H (Consumer Protection in 

Sales of Insurance). The Board revised 

the FR H–7 collection to account for one 

existing disclosure requirement in 

Regulation H that was not previously 

cleared by the Board under the PRA. 

The revision of the FR H–7 information 

collection accounts for this disclosure 

provision. This revision does not amend 

Regulation H or add any new 

information collection requirements. 

The comment period for this notice 

expired on December 6, 2021. The 

Board did not receive any comments. 

The revisions will be implemented as 

proposed. 

Board of Governors of the Federal Reserve 

System, January 19, 2022. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–01416 Filed 1–24–22; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Proposed Agency Information 

Collection Activities; Comment 

Request 

AGENCY: Board of Governors of the 

Federal Reserve System. 

ACTION: Notice, request for comment. 

SUMMARY: The Board of Governors of the 

Federal Reserve System (Board) invites 

comment on a proposal to extend for 

three years, without revision, the 

Recordkeeping Provisions Associated 

with the Interagency Statement on 

Complex Structured Finance Activities 

(FR 4022; OMB No. 7100–0311). 

DATES: Comments must be submitted on 

or before March 28, 2022. 

ADDRESSES: You may submit comments, 

identified by FR 4022, by any of the 

following methods: 

• Agency website: https://

www.federalreserve.gov/. Follow the 

instructions for submitting comments at 

https://www.federalreserve.gov/apps/ 

foia/proposedregs.aspx. 

• Email: regs.comments@

federalreserve.gov. Include the OMB 

number or FR number in the subject line 

of the message. 


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