[Federal Register Volume 64, Number 130 (Thursday, July 8, 1999)]
[Notices]
[Pages 36874-36875]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-17268]
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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
Background. Notice is hereby given of the final approval of
proposed information collection(s) by the Board of Governors of the
Federal Reserve System (Board) under OMB delegated authority, as per 5
CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the
Public). Board-approved collections of information are incorporated
into the official OMB inventory of currently approved collections of
information. Copies of the OMB 83-Is and supporting statements and
approved collection of information instrument(s) are placed into OMB's
public docket files. The Federal Reserve may not conduct or sponsor,
and the respondent is not required to respond to, an information
collection that has been extended, revised, or implemented on or after
October 1, 1995, unless it displays a currently valid OMB control
number.
FOR FURTHER INFORMATION CONTACT:
Chief, Financial Reports Section--Mary M. West--Division of Research
and Statistics, Board of Governors of the Federal Reserve System,
Washington, DC 20551 (202-452-3829); OMB Desk Officer--Alexander T.
Hunt--Office of Information and Regulatory Affairs, Office of
Management and Budget, New Executive Office Building, Room 3208,
Washington, DC 20503 (202-395-7860).
Final approval under OMB delegated authority of the extension for
three years, without revision, of the following report:
1. Report title: Recordkeeping and Disclosure Requirements in
Connection with Regulation B (Equal Credit Opportunity).
Agency form number: unnum Reg B.
OMB Control number: 7100-0201.
[[Page 36875]]
Frequency: Event-generated.
Reporters: State Member Banks.
Annual reporting hours: 123,892 hours.
Estimated average hours per response: Notification: 2.50 minutes;
Credit history reporting: 2 minutes; Monitoring: 30 seconds; Appraisal
report upon request: 5 minutes; Notice of right to appraisal: 15
seconds; Recordkeeping of self-test: 2 hours; Recordkeeping of
corrective action: 8 hours.
Number of respondents: Notification, Credit history reporting,
Monitoring, Appraisal report upon request, and Notice of right to
appraisal 988; Recordkeeping of self-test 45; Recordkeeping of
corrective action 11.
Small businesses are affected.
General description of report: This information collection is
mandatory (15 USC 1691b(a)(1) and Public Law 104-208, Sec. 2302(a)).
The adverse action disclosure is confidential between the institution
and the consumer involved. Since the Federal Reserve does not collect
any information, no issue of confidentiality normally arises. However,
the information may be protected from disclosure under the exemptions
(b)(4), (6), and (80 of the Freedom of Information Act (5 USC 522(b)).
Abstract: The act and regulation prohibit discrimination in any
aspect of a credit transaction because of race, color, religion,
national origin, sex, marital status, age, or other specified bases.
Creditors are subject to various mandatory, event-generated disclosure
requirements, notification provisions, credit history reporting, and
monitoring rules. Creditors are also required to retain records for
twelve or twenty-five months as evidence of compliance.
Board of Governors of the Federal Reserve System, July 1, 1999.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 99-17268 Filed 7-7-99; 8:45am]
Billing Code 6210-01-F
