[Federal Register Volume 77, Number 159 (Thursday, August 16, 2012)]
[Notices]
[Pages 49444-49445]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-20137]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Proposed Collection
Renewal; Comment Request (3064-0152)
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 the renewal of an
existing information collection, as required by the Paperwork Reduction
Act of 1995 (44 U.S.C. chapter 35). Currently, the FDIC is soliciting
comment on renewal of the information collection described below.
DATES: Comments must be submitted on or before October 15, 2012.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC by any of the following methods:
http://www.FDIC.gov/regulations/laws/federal/notices.html.
Email: [email protected] Include the name of the
collection in the subject line of the message.
Mail: Gary A. Kuiper (202.898.3877), Counsel, Room NYA-
5046, Federal Deposit Insurance Corporation, 550 17th Street NW.,
Washington, DC 20429.
Hand Delivery: Comments may be hand-delivered to the guard
station at the rear of the 17th Street Building (located on F Street),
on business days between 7 a.m. and 5 p.m.
All comments should refer to the relevant OMB control number. A
copy of the comments may also be submitted to the OMB desk officer for
the FDIC: Office of Information and Regulatory Affairs, Office of
Management and Budget, New Executive Office Building, Washington, DC
20503.
FOR FURTHER INFORMATION CONTACT: Gary A. Kuiper, at the FDIC address
above.
SUPPLEMENTARY INFORMATION:
Proposal to renew the following currently-approved collection of
information:
Affected Public: Individuals; Businesses or other for-profit.
Estimated Number of Respondents: 4546.
Estimated Time per Response: 16 hours.
Estimated Total Annual Burden: 72,736 hours.
General Description of the Collection: 12 CFR 334.82, 334.90,
334.91 and Appendix J to Part 334 implement sections 114 and 315 of the
Fair and Accurate Credit Transactions Act of 2003 (FACT Act), Public
Law 108-159 (2003). Section 114 amended section 615 of the Fair Credit
Reporting Act (FCRA) to require the OCC, FRB, FDIC, OTS, NCUA, and FTC
(Agencies) to issue jointly (i) Guidelines for financial institutions
and creditors regarding identity theft with respect to their account
holders and customers; (ii) regulations requiring each financial
institution and creditor to establish reasonable policies and
procedures for implementing the guidelines to identify possible risks
to account holders or customers or to the safety and soundness of the
institution or creditor; and (iii) regulations generally requiring
credit and debit card issuers to assess the validity of change of
address requests under certain circumstances. Section 315 amended
section 605 of the FCRA to require the Agencies to issue regulations
providing guidance regarding reasonable policies and procedures that a
user of consumer reports must employ when a user receives a notice of
address discrepancy from a consumer reporting agency (CRA). The
information collections in Sec. 334.90 require each financial
institution and creditor that offers or maintains one or more covered
accounts to develop and implement a written Identity Theft Prevention
Program
[[Page 49445]]
(Program). In developing the Program, financial institutions and
creditors are required to consider the guidelines in Appendix J to Part
334 and include those that are appropriate. The initial Program must be
approved by the board of directors or an appropriate committee thereof
and the board, an appropriate committee thereof or a designated
employee at the level of senior management must be involved in the
oversight of the Program. In addition, staff must be trained to carry
out the Program. Pursuant to Sec. 334.91, each credit and debit card
issuer is required to establish and implement policies and procedures
to assess the validity of a change of address request under certain
circumstances. Before issuing an additional or replacement card, the
card issuer must notify the cardholder or use another means to assess
the validity of the change of address. The information collections in
Sec. 41.82 require each user of consumer reports to develop and
implement reasonable policies and procedures designed to enable the
user to form a reasonable belief that a consumer report relates to the
consumer about whom it requested the report when the user receives a
notice of address discrepancy from a CRA. A user of consumer reports
must also develop and implement reasonable policies and procedures for
furnishing an address for the consumer that the user has reasonably
confirmed to be accurate to the CRA from which it receives a notice of
address discrepancy when (1) The user can form a reasonable belief that
the consumer report relates to the consumer about whom the user has
requested the report; (2) the user establishes a continuing
relationship with the consumer; and (3) the user regularly and in the
ordinary course of business furnishes information to the CRA from which
it received the notice of address discrepancy.
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. All
comments will become a matter of public record.
Dated at Washington, DC, this 13th day of August 2012.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2012-20137 Filed 8-15-12; 8:45 am]
BILLING CODE 6714-01-P