2010-11230. Agency Information Collection Activities: Submission for OMB Review; Comment Request

AGENCY:

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

ACTION:

Notice and request for comment.

SUMMARY:

The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on a continuing information collection, 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 Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning an extension of OMB approval of the information collection titled “Consumer Protections for Depository Institution Sales of Insurance.” The OCC is also giving notice that it has sent the collection to OMB for review.

DATES:

Comments must be submitted on or before June 11, 2010.

ADDRESSES:

Communications Division, Office of the Comptroller of the Currency, Mailstop 2-3, Attention: 1557-0220, 250 E Street, SW., Washington, DC 20219. In addition, comments may be sent by fax to [phone] or by electronic mail to [e-mail]. You may personally inspect and photocopy the comments at the OCC, 250 E Street, SW., Washington, DC 20219. For security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling [phone]. Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security screening in order to inspect and photocopy comments.

Additionally, you should send a copy of your comments to OCC Desk Officer, 1557-0220, by mail to U.S. Office of Management and Budget, 725, 17th Street, NW., #10235, Washington, DC 20503, or by fax to [phone].

FOR FURTHER INFORMATION CONTACT:

You may request additional information or a copy of the collection and supporting documentation submitted to OMB by contacting: Mary H. Gottlieb, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION:

Title: Consumer Protections for Depository Institution Sales of Insurance—12 CFR 14.

OMB Control No.: 1557-0220.

Type of Review: Extension, without revision, of a currently approved collection.

Description: This information collection requires national banks and other covered persons involved in insurance sales to make two separate disclosures to consumers. Under 12 CFR 14.40, a respondent must provide, orally and in writing: (1) Certain insurance disclosures to a consumer before the completion of the initial sale of an insurance product or annuity to the consumer and (2) certain credit disclosures at the time the consumer applies for an extension of credit (if insurance products or annuities are sold, solicited, advertised, or offered in connection with the extension of credit).

Affected Public: Businesses or other for-profit.

Burden Estimates:

Estimated Number of Respondents: 717.

Estimated Number of Responses: 717.

Estimated Annual Burden Hours: 3,585 hours.

Frequency of Response: On occasion.

Comments: The OCC issued a 60-day Federal Register notice on March 4, 2010. 75 FR 10021. 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 estimate of the information collection burden;

(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.

Dated: May 4, 2010.

Michele Meyer,

Assistant Director, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency.