[Federal Register Volume 87, Number 52 (Thursday, March 17, 2022)]
[Notices]
[Pages 15304-15305]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-05680]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Submission for OMB Review; Covered Savings Associations

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

ACTION: Notice and request for comment.

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SUMMARY: The Office of the Comptroller of the Currency (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 an information collection renewal as required 
by the Paperwork Reduction Act of 1995. An agency may not conduct or 
sponsor, and a respondent is not required to respond to, an information 
collection unless it displays a currently valid OMB control number. The 
OCC is soliciting comment concerning the renewal of its information 
collection titled ``Covered Savings Associations.'' The OCC also is 
giving notice that it has sent the collection to OMB for review.

DATES: Comments must be received by April 18, 2022.

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#dbaba9bab2b5bdb49bb4b8b8f5afa9bebaa8f5bcb4ad"><span class="__cf_email__" data-cfemail="ed9d9f8c84838b82ad828e8ec3999f888c9ec38a829b">[email protected]</span></a>.
    <bullet> Mail: Chief Counsel's Office, Attention: Comment 
Processing, 1557-0341, Office of the Comptroller of the Currency, 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) 465-4326.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0341'' 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.
    Written comments and recommendations for the proposed information 
collection should also 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.
    On January 5, 2022, the OCC published a 60-day notice for this 
information collection, 87 FR 538. You may review comments and other 
related materials that pertain to this information collection following 
the close of the 30-day comment period for this notice 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'' 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 by OMB control number ``1557-0341'' or ``Covered Savings 
Associations.'' 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, OCC 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. 3501-3520), Federal 
agencies must obtain approval from the Office of Management and Budget 
(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 asks that OMB extend its approval of the 
information collection requirements in this notice.
    Abstract: The Home Owners' Loan Act (HOLA), as amended by the 
Economic Growth, Regulatory Relief, and Consumer Protection Act 
(EGRRCPA), allows a Federal savings association (FSA) with total 
consolidated assets of $20 billion or less, as of December 31, 2017, to 
elect to operate as a covered savings association (CSA). This section 
of HOLA requires the OCC to issue rules that, among other things, 
establish streamlined standards and procedures for FSA elections to 
operate as CSAs and clarify the requirements for the treatment of CSAs. 
A CSA has the same rights and privileges as a national bank and is 
subject to the same duties and restrictions as a national bank.
    Twelve CFR part 101 allows FSAs to elect national bank powers and 
operate as CSAs. An FSA seeking to operate as a CSA is required, under 
12 CFR 101.3(a), to submit a notice making an election to the OCC that: 
(1) Is signed by a duly authorized officer of the FSA; and (2) 
identifies and describes any nonconforming subsidiaries, assets, or 
activities that the FSA operates, holds, or conducts at the time it 
submits its notice.
    Under 12 CFR 101.5(a), the OCC may require a CSA to submit a plan 
to divest, conform, or discontinue a nonconforming subsidiary, asset, 
or activity.
    A CSA may submit a notice to terminate its election to operate as a 
CSA under 12 CFR 101.6 using procedures similar to those for an 
election. In addition, an FSA that has terminated its election to 
operate as a CSA may, after a period of five years, submit a notice 
under 12 CFR 101.7 to reelect using the same procedures used for its 
original election.
    Title of Collection: Covered Savings Associations.
    OMB Control No.: 1557-0341.
    Election, Termination, Reelection:
    Estimated Number of Respondents: 267.
    Estimated Burden per Respondent: 1 hour.

[[Page 15305]]

    Estimated Annual Burden: 267 hours.
    Plan to Divest:
    Estimated Number of Respondents: 25.
    Estimated Burden per Respondent: 2 hours.
    Estimated Annual Burden: 50 hours.
    Total Annual Burden: 317 hours.
    On January 5, 2022, the OCC published a 60-day notice for this 
information collection, 87 FR 538. No comments were received. 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 estimates 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.

Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2022-05680 Filed 3-16-22; 8:45 am]
BILLING CODE 4810-33-P


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