[Federal Register Volume 63, Number 96 (Tuesday, May 19, 1998)]
[Notices]
[Pages 27575-27576]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-13164]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Proposed Collection;
Comment Request
agency: Federal Deposit Insurance Corporation (FDIC).
action: Notice and request for comment.
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summary: The FDIC, 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 proposed and/or
continuing information collections, as required by the Paperwork
Reduction Act of 1995 (44 U.S.C. chapter 35). Currently, the FDIC is
soliciting comments concerning the following collections of information
titled: (1) Recordkeeping and Disclosure Requirements in Connection
with Regulation Z (Truth in Lending); (2) Recordkeeping and Disclosure
Requirements in Connection with Regulation M (Consumer Leasing); (3)
Recordkeeping and Disclosure Requirements in Connection with Regulation
E (Electronic Fund Transfers); and (4) Recordkeeping and Disclosure
Requirements in Connection with Regulation B (Equal Credit
Opportunity).
dates: Comments must be submitted on or before July 20, 1998.
addresses: Interested parties are invited to submit written comments to
Tamara R. Manly, Management Analyst (Regulatory Analysis), (202) 898-
7453, Office of the Executive Secretary, Room 4058, Attention:
Comments/OES, Federal Deposit Insurance Corporation, 550 17th Street
N.W., Washington, D.C. 20429. All comments should refer to the OMB
control number. Comments may be hand-delivered to the guard station at
the rear of the 17th Street Building (located of F Street), on business
days between 7:00 a.m. and 5:00 p.m. [FAX number (202) 898-3838;
Internet address: comments@fdic.gov].
A copy of the comments may also be submitted to the OMB desk
officer for the FDIC: Alexander Hunt, Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 3208, Washington, D.C. 20503.
for further information contact: Tamara R. Manly, as the address
identified above.
supplementary information: Proposal to renew the following currently
approved collections of information:
1. Title: Recordkeeping and Disclosure Requirements in Connection
with Regulation Z (Truth in Lending).
OMB Number: 3064-0082.
Frequency of Response: On occasion.
Affected Public: Any businesses or individuals that regularly offer
or extend consumer credit.
Estimated Number of Respondents: 6,100.
Estimated Time per Response: 787.
Estimated Total Annual Burden: 4,800,700 hours.
General Description of Collection: Regulation Z (12 CFR 226)
prescribes uniform methods of computing the cost of credit, disclosure
of credit terms, and procedures for resolving billing errors on certain
credit accounts. Regulation Z is issued by the Board of Governors of
the Federal Reserve System (``FRB'') under the authority of Title I of
the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.). Section
105 of the Act (15 U.S.C. 1604) designates the FRB as the issuer of the
implementing regulations and section 108(a) of the Act (15 U.S.C. 1607)
designates the FDIC as having the enforcement responsibilities in the
case of insured nonmember banks.
2. Title: Recordkeeping and Disclosure Requirements in Connection
with Regulation M (Consumer Leasing).
OMB Number: 3064-0083.
Frequency of Response: On occasion.
Affected Pubic: Any businesses engaging in consumer leasing.
Estimated Number of Respondents: 6,100.
Estimated Time per Response: 4.
Estimated Total Annual Burden: 24,400 hours.
General Description of Collection: Regulation M (12 CFR 2123)
implements the consumer leasing provisions of the Truth in Lending Act.
Regulation M is issued by the Board of Governors of the Federal Reserve
System (``FRB'') under the authority of Title I of the Consumer Credit
Protection Act (15 U.S.C. 1601 et seq.). Section 105 of the Act (15
U.S.C. 1604) designates the FRB as the issuer of the implementing
regulations, and section 108(a) of the Act (15 U.S.C. 1607) designates
the FDIC as having the enforcement responsibilities in the case of
insured nonmember banks.
3. Title: Recordkeeping and Disclosure Requirements in Connection
with Regulation E (Electronic Fund Transfers).
[[Page 27576]]
OMB Number 3064-0084.
Frequency of Response: On occasion.
Affected Public: Any users of the electronic fund transfer system.
Estimated Number of Respondents: 6,100.
Estimated Time per Response: 120.4.
Estimated Total Annual Burden: 734,440 hours.
General Description of Collection: Regulation E (12 CFR 205)
establishes the rights liabilities, and responsibilities of parties in
electronic funds transfers (``EFT'') and protects consumers using EFT
systems. Regulation E is issued by the Board of Governors of the
Federal Reserve System (``FRB'') under the authority of Title IX of the
Consumer Credit Protection Act (15 U.S.C. 1693.) Section 904 of the Act
(15 U.S.C. 1693b) designates the FRB as the issuer of the implementing
regulations, and section 917(a) of the Act (15 U.S.C. 1693o) designates
the FDIC as having the enforcement responsibilities in the case of
insured nonmember banks.
4. Title: Recordkeeping and Disclosure Requirements in Connection
with Regulation B (Equal Credit Opportunity).
OMB Number: 3064-0085.
Frequency of Response: On occasion.
Affected Public: Any financial institution engaging in credit
transactions.
Estimated Number of Respondents: 6,100.
Estimated Time per Response: 43.
Estimated Total Annual Burden: 262,300 hours.
General Description of Collection: Regulation B (12 CFR 202)
prohibits creditors from discriminating against applicants on any of
the bases specified by the Equal Credit Opportunity Act, establishes
guidelines for gathering and evaluating credit information, and
requires creditors to give applicants a written notification of
rejection of an application. Regulation B is issued by the Board of
Governors of the Federal Reserve System (``FRB'') under the authority
of Title VII of the Consumer Credit Protection Act (15 U.S.C. 1691).
Section 703 of the Act (15 U.S.C. 1691b) designates the FRB as the
issuer of the implementing regulations, and section 704(a) of the Act
(15 U.S.C. 1691c) designates the FDIC as having the enforcement
responsibilities in the case of insured nonmember banks.
Request for Comment
Comments are invited on: (a) Whether the collection of information
is necessary for the proper performance of the FDIC's functions,
including whether the information has practical utility; (b) the
accuracy of the estimates of the burden of the information collection,
including the validity of the methodology and assumptions used; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; and (d) ways to minimize the burden of the information
collection on respondents, including through the use of automated
collection techniques or other forms of information technology.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the
collection should be modified prior to submission to OMB for review and
approval. Comments submitted in response to this notice also will be
summarized or included in the FDIC's requests to OMB for renewal of
this collection. All comments will become a matter of public record.
Dated at Washington, D.C., this 13th day of May, 1998.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 98-13164 Filed 5-18-98; 8:45 am]
BILLING CODE 6714-01-M
