Federal Register / Vol. 87, No. 100 / Tuesday, May 24, 2022 / Notices 31555 

2 15 U.S.C. 1693o–2(a)(5) (permitting the Board to 

allow for the fraud-prevention adjustment and 

condition it upon compliance with fraud-related 

standards promulgated by the Board). 

3 5 U.S.C. 552(b)(4). 

4 5 U.S.C. 552(b)(8). 

authorized by section 920(a)(5) of the 

EFTA.2 Regulation II’s general 

recordkeeping requirement for issuers is 

mandatory. Regulation II’s fraudprevention recordkeeping requirements 

and disclosure requirements are 

required to obtain a benefit. 

The Recordkeeping and Disclosure 

Requirements Associated with 

Regulation II are generally not 

submitted to the Board or to any of the 

federal financial regulatory agencies. In 

the event that the Board obtains such 

information, it may be kept confidential 

under exemption 4 of the Freedom of 

Information Act (FOIA) to the extent 

that it contains commercial or financial 

information both customarily and 

actually treated as private.3 If such 

information is obtained through the 

examination or enforcement process, it 

may be kept confidential under 

exemption 8 of the FOIA.4

Current actions: On December 3, 

2021, the Board published a notice in 

the Federal Register (86 FR 68667) 

requesting public comment for 60 days 

on the extension, without revision, of 

the Recordkeeping and Disclosure 

Requirements Associated with 

Regulation II. The comment period for 

this notice expired on February 1, 2022. 

The Board received two comments. 

Detailed Discussion of Public 

Comments 

The first comment letter was from 

trade associations representing debit 

card issuers; these commenters 

supported the proposal to extend for 

three years, without revision, the 

Recordkeeping and Disclosure 

Requirements Associated with 

Regulation II. The second comment 

letter was from trade associations 

representing merchants; these 

commenters did not provide comments 

related to the Recordkeeping and 

Disclosure Requirements Associated 

with Regulation II. Both comment letters 

addressed substantive issues pertaining 

to Regulation II that were unrelated to 

the regulation’s information collections. 

Board of Governors of the Federal Reserve 

System, May 17, 2022. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–11095 Filed 5–23–22; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Privacy Act of 1974; System of 

Records 

AGENCY: Board of Governors of the 

Federal Reserve System. 

ACTION: Notice of a modified system of 

records. 

SUMMARY: Pursuant to the provisions of 

the Privacy Act of 1974, notice is given 

that the Board of Governors of the 

Federal Reserve System (Board) 

proposes to modify an existing system 

of records, entitled BGFRS–30, ‘‘FRB— 

Academic Assistance Program Files’’ to 

reflect the outsourcing of Academic 

Assistance program administration. 

BGFRS–30 includes applications for 

academic assistance and related 

documents in addition to documents 

relating to requests for exceptions to the 

Academic Assistance Policy. 

DATES: Comments must be received on 

or before June 23, 2022. This modified 

system of records will become effective 

June 23, 2022, without further notice, 

unless comments dictate otherwise. 

The Office of Management and Budget 

(OMB), which has oversight 

responsibility under the Privacy Act, 

requires a 30-day period prior to 

publication in the Federal Register in 

which to review the system and to 

provide any comments to the agency. 

The public is then given a 30-day period 

in which to comment, in accordance 

with 5 U.S.C. 552a(e)(4) and (11). 

ADDRESSES: You may submit comments, 

identified by BGFRS–30 ‘‘FRB— 

Academic Assistance Program Files,’’ 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 SORN name 

and number in the subject line of the 

message. 

• Fax: (202) 452–3819 or (202) 452– 

3102. 

• Mail: Ann E. Misback, Secretary, 

Board of Governors of the Federal 

Reserve System, 20th Street and 

Constitution Avenue NW, Washington, 

DC 20551. 

All public comments will be made 

available on the Board’s website at 

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

foia/proposedregs.aspx as submitted, 

unless modified for technical reasons. 

Public comments may also be viewed 

electronically and in-person in Room 

M–4365A, 2001 C St. NW, Washington, 

DC 20551, between 9:00 a.m. and 5:00 

p.m. during federal business weekdays. 

FOR FURTHER INFORMATION CONTACT: 

David B. Husband, Senior Counsel, 

(202) 530–6270, or david.b.husband@

frb.gov; Legal Division, Board of 

Governors of the Federal Reserve 

System, 20th Street and Constitution 

Avenue NW, Washington, DC 20551. If 

you are deaf, hard of hearing, or have a 

speech disability, please dial 7–1–1 to 

access telecommunication relay 

services. 

SUPPLEMENTARY INFORMATION: The Board 

is primarily modifying BGFRS–30, 

‘‘FRB—Academic Assistance Program 

Files’’ to reflect the outsourcing of 

Academic Assistance program 

administration to a managed service 

provider, Bright Horizons EdAssist, 

which replaces the manual process 

previously used by participants. The 

new service allows program 

participants, among other actions, to 

submit and receive approval for requests 

for academic assistance; add and drop 

classes; submit grades; request 

exceptions or waivers; and upload 

supporting documents. Requests for 

exceptions to the Academic Assistance 

Policy, however, will be reviewed and 

approved by the People, Strategy, & 

Operations Function through the 

Board’s Service Now Customer 

Relationship Manager portal rather than 

by the plan administrator. 

Accordingly, the Board is updating 

the system manager and the system 

location. The Board is also taking this 

opportunity to update the record 

retention, record source categories, 

categories of records in the system, the 

policies for record storage, and the 

administrative, technical, and physical 

safeguards for the system. In addition, 

the Board is also updating the ‘‘Routine 

Uses’’ section to incorporate a link to 

the Board’s general routine uses. The 

Board, however, is not amending or 

establishing any new routine uses. 

The Board is also making technical 

changes to BGFRS–30 consistent with 

the template laid out in OMB Circular 

No. A–108. Accordingly, the Board has 

made technical corrections and nonsubstantive language revisions to the 

following categories: ‘‘Policies and 

Practices for Storage of Records,’’ 

‘‘Policies and Practices for Retrieval of 

Records,’’ ‘‘Policies and Practices for 

Retention and Disposal of Records,’’ 

‘‘Administrative, Technical and 

Physical Safeguards,’’ ‘‘Record Access 

Procedures,’’ ‘‘Contesting Record 

Procedures,’’ and ‘‘Notification 

Procedures.’’ The Board has also created 

the following new fields: ‘‘Security 

Classification’’ and ‘‘History.’’ 


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31556 Federal Register / Vol. 87, No. 100 / Tuesday, May 24, 2022 / Notices 

SYSTEM NAME AND NUMBER: 

BGFRS–30 ‘‘FRB—Academic 

Assistance Program Files’’. 

SECURITY CLASSIFICATION: 

Unclassified. 

SYSTEM LOCATION: 

Bright Horizons Family Solutions 

LLC, 200 Talcott Avenue, Watertown, 

MA 02472 and Board of Governors of 

the Federal Reserve System, 20th Street 

and Constitution Avenue NW, 

Washington, DC 20551. The files related 

to academic assistance will be 

electronically stored and maintained by 

the plan administrator, Bright Horizons 

EdAssist. Additional files related to the 

review and approval of exception 

requests to the Academic Assistance 

Policy are electronically stored and 

maintained by the People, Strategy, & 

Operations Function of the Division of 

Management. Supporting 

documentation may also be maintained 

by the employing division. Historical 

academic assistance files will not be 

stored by the plan administrator but will 

be stored by the Board on a secured 

server for the appropriate retention 

period with access limited to Board staff 

with a need to know. 

SYSTEM MANAGER(S): 

Ethel Bulluck—Learning and 

Development Manager, People, Strategy 

& Operations, Division of Management, 

Board of Governors of the Federal 

Reserve System, 20th Street and 

Constitution Avenue NW, Washington, 

DC 20551, (202) 452–3749, or 

ethel.g.bulluck@frb.gov. 

AUTHORITY FOR MAINTENANCE OF THE SYSTEM: 

Sections 10 and 11 of the Federal 

Reserve Act (12 U.S.C. 244 and 248). 

PURPOSE(S) OF THE SYSTEM: 

These records are collected and 

maintained to assist the Board in its 

personnel management and in providing 

training and educational opportunities 

to its employees. 

CATEGORIES OF INDIVIDUALS COVERED BY THE

SYSTEM: 

Past and present Board employees. 

CATEGORIES OF RECORDS IN THE SYSTEM: 

This system contains requests for 

academic assistance, including 

documents relating to all courses 

applied for, completed, and reimbursed; 

descriptions of course work; documents 

relating to requests for exceptions to the 

Academic Assistance Policy; evidence 

of successful/non-successful 

completion; and payment 

documentation for tuition, textbooks, 

and related fees. 

RECORD SOURCE CATEGORIES: 

Information is provided by the 

individual to whom the record pertains. 

ROUTINE USES OF RECORDS MAINTAINED IN THE

SYSTEM, INCLUDING CATEGORIES OF USERS AND

PURPOSES OF SUCH USES: 

General routine uses A, B, C, D, F, G, 

H, I, and J apply to this system. These 

general routine uses are located at 

https://www.federalreserve.gov/files/ 

SORN-page-general-routine-uses-ofboard-systems-of-records.pdf and are 

published in the Federal Register at 83 

FR 43872 at 43873–74 (August 28, 

2018). 

POLICIES AND PRACTICES FOR STORAGE OF

RECORDS: 

Electronic records are stored by the 

plan administrator on a secure server 

with access limited to Bright Horizons 

EdAssist and Board staff with a need to 

know. Electronic records related to 

exception requests to the Academic 

Assistance Policy are stored on a secure 

server with access limited to Board staff 

with a need to know. Historical 

academic assistance files will not be 

stored by the plan administrator but will 

be stored by the Board on a secured 

server for the appropriate retention 

period with access limited to Board staff 

with a need to know. 

POLICIES AND PRACTICES FOR RETRIEVAL OF

RECORDS: 

Records can be retrieved by the names 

of the individuals on whom they are 

maintained. 

POLICIES AND PRACTICES FOR RETENTION AND

DISPOSAL OF RECORDS: 

The retention for these records is 

currently under review. Until review is 

completed, these records will not be 

destroyed. 

ADMINISTRATIVE, TECHNICAL, AND PHYSICAL

SAFEGUARDS: 

Historical paper records are located in 

a secured locked room and electronic 

files are stored on secure servers. The 

system has the ability to track 

individual user actions within the 

system. The audit and accountability 

controls are based on NIST and Board 

standards which, in turn, are based on 

applicable laws and regulations. The 

controls assist in detecting security 

violations and performance or other 

issues in the system. Access to the 

system is restricted to authorized users 

within Bright Horizons EdAssist or the 

Board who require access for official 

business purposes. Users are classified 

into different roles and common access 

and usage rights are established for each 

role. User roles are used to delineate 

between the different types of access 

requirements such that users are 

restricted to data that is required in the 

performance of their duties. Periodic 

assessments and reviews are conducted 

to determine whether users still require 

access, have the appropriate role, and 

whether there have been any 

unauthorized changes. 

RECORD ACCESS PROCEDURES: 

The Privacy Act allows individuals 

the right to access records maintained 

about them in a Board system of 

records. Your request for access must: 

(1) Contain a statement that the request 

is made pursuant to the Privacy Act of 

1974; (2) provide either the name of the 

Board system of records expected to 

contain the record requested or a 

concise description of the system of 

records; (3) provide the information 

necessary to verify your identity; and (4) 

provide any other information that may 

assist in the rapid identification of the 

record you seek. 

Current or former Board employees 

may make a request for access by 

contacting the Board office that 

maintains the record. The Board 

handles all Privacy Act requests as both 

a Privacy Act request and as a Freedom 

of Information Act request. The Board 

does not charge fees to a requestor 

seeking to access or amend his/her 

Privacy Act records. 

You may submit your Privacy Act 

request to the—Secretary of the Board, 

Board of Governors of the Federal 

Reserve System, 20th Street and 

Constitution Avenue NW, Washington, 

DC 20551. 

You may also submit your Privacy Act 

request electronically by filling out the 

required information at: https://

foia.federalreserve.gov/. 

CONTESTING RECORD PROCEDURES: 

The Privacy Act allows individuals to 

seek amendment of information that is 

erroneous, irrelevant, untimely, or 

incomplete and is maintained in a 

system of records that pertains to them. 

To request an amendment to your 

record, you should clearly mark the 

request as a ‘‘Privacy Act Amendment 

Request.’’ You have the burden of proof 

for demonstrating the appropriateness of 

the requested amendment and you must 

provide relevant and convincing 

evidence in support of your request. 

Your request for amendment must: (1) 

Provide the name of the specific Board 

system of records containing the record 

you seek to amend; (2) identify the 

specific portion of the record you seek 

to amend; (3) describe the nature of and 

reasons for each requested amendment; 

(4) explain why you believe the record 

is not accurate, relevant, timely, or 


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Federal Register / Vol. 87, No. 100 / Tuesday, May 24, 2022 / Notices 31557 

1 12 U.S.C. 1467a(f). 

2 12 U.S.C. 1467a(b). See 12 U.S.C. 1467a(g). 

complete; and (5) unless you have 

already done so in a related Privacy Act 

request for access or amendment, 

provide the necessary information to 

verify your identity. 

NOTIFICATION PROCEDURES: 

Same as ‘‘Access procedures’’ above. 

You may also follow this procedure in 

order to request an accounting of 

previous disclosures of records 

pertaining to you as provided for by 5 

U.S.C. 552a(c). 

EXEMPTIONS PROMULGATED FOR THE SYSTEM: 

None. 

HISTORY: 

This SORN was previously published 

in the Federal Register at 73 FR 24984 

at 25007 (May 6, 2008). The SORN was 

also amended to incorporate two new 

routine uses required by OMB at 83 FR 

43872 (August 28, 2018). 

Board of Governors of the Federal Reserve 

System. 

Ann E. Misback, 

Secretary of the Board. 

[FR Doc. 2022–11131 Filed 5–23–22; 8:45 am] 

BILLING CODE P 

FEDERAL RESERVE SYSTEM 

Change in Bank Control Notices; 

Acquisitions of Shares of a Bank or 

Bank Holding Company 

The notificants listed below have 

applied under the Change in Bank 

Control Act (Act) (12 U.S.C. 1817(j)) and 

§ 225.41 of the Board’s Regulation Y (12 

CFR 225.41) to acquire shares of a bank 

or bank holding company. The factors 

that are considered in acting on the 

applications are set forth in paragraph 7 

of the Act (12 U.S.C. 1817(j)(7)). 

The public portions of the 

applications listed below, as well as 

other related filings required by the 

Board, if any, are available for 

immediate inspection at the Federal 

Reserve Bank(s) indicated below and at 

the offices of the Board of Governors. 

This information may also be obtained 

on an expedited basis, upon request, by 

contacting the appropriate Federal 

Reserve Bank and from the Board’s 

Freedom of Information Office at 

https://www.federalreserve.gov/foia/ 

request.htm. Interested persons may 

express their views in writing on the 

standards enumerated in paragraph 7 of 

the Act. 

Comments regarding each of these 

applications must be received at the 

Reserve Bank indicated or the offices of 

the Board of Governors, Ann E. 

Misback, Secretary of the Board, 20th 

Street and Constitution Avenue NW, 

Washington, DC 20551–0001, not later 

than June 7, 2022. 

A. Federal Reserve Bank of Atlanta 

(Erien O. Terry, Assistant Vice 

President) 1000 Peachtree Street NE, 

Atlanta, Georgia 30309. Comments can 

also be sent electronically to 

Applications.Comments@atl.frb.org: 

1. Donata Russell Ross, H. Jerome 

Russell, Jr., and Michael B. Russell, all 

of Atlanta, Georgia; to become members 

of a group acting in concert to acquire 

voting shares of Citizens Bancshares 

Corporation, and thereby indirectly 

acquire voting shares of Citizens Trust 

Bank, both of Atlanta, Georgia. 

Board of Governors of the Federal Reserve 

System. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–11077 Filed 5–23–22; 8:45 am] 

BILLING CODE 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, without revision, the Notice of 

Proposed Declaration of Dividend (FR 

1583; OMB No. 7100–0339). 

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, Without Revision, of the 

Following Information Collection 

Collection title: Notice of Proposed 

Declaration of Dividend. 

Collection identifier: FR 1583. 

OMB control number: 7100–0339. 

Frequency: Event-generated. 

Respondents: Savings association 

subsidiaries of savings and loan holding 

companies (SLHCs). 

Estimated number of respondents: 

180. 

Estimated average hours per response: 

0.25. 

Estimated annual burden hours: 90. 

General description of collection: A 

savings association subsidiary of an 

SLHC must provide prior notice of the 

proposed declaration of a dividend by 

filing form FR 1583, whether 

electronically or by hard copy, with the 

appropriate Reserve Bank. The FR 1583 

requires information regarding the date 

of the filing and the nature and amount 

of the proposed dividend, as well as the 

names and signatures of the executive 

officer and secretary of the savings 

association that is providing the notice. 

The FR 1583 notice may include a 

schedule proposing dividends over a 

period specified by the notificant, not to 

exceed 12 months. 

Legal authorization and 

confidentiality: The FR 1583 is 

authorized by Section 10(f) of the Home 

Owners’ Loan Act (HOLA).1 Section 

10(f) of HOLA provides that every 

subsidiary savings association of an 

SLHC shall give the Board at least 30 

days’ advance notice of the proposed 

declaration by its directors of any 

dividend on its guaranty, permanent, or 

other nonwithdrawable stock. 

Additionally, Section 10(b) of HOLA 

authorizes the Board to require SLHCs 

to file ‘‘such reports as may be required 

by the Board.’’ 2 The FR 1583 is 

mandatory. 

Individual respondents may request 

confidential treatment for information 

submitted on the FR 1583 in accordance 

with the Board’s Rules Regarding 


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