[Federal Register Volume 79, Number 119 (Friday, June 20, 2014)]
[Notices]
[Pages 35412-35413]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-14391]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Loans in Areas Having Special Flood Hazards
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
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SUMMARY: The OCC, 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 a continuing
information collection, as required by the Paperwork Reduction Act of
1995 (PRA).
Under the PRA, Federal agencies are required to publish notice in
the Federal Register concerning each proposed collection of
information, including each proposed extension of an existing
collection of information, and to allow 60 days for public comment in
response to the notice.
In accordance with the requirements of the PRA, the OCC may not
conduct or sponsor, and the 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 its information collection titled, ``Loans in Areas
Having Special Flood Hazards.''
DATES: You should submit written comments by: August 19, 2014.
ADDRESSES: Because paper mail in the Washington, DC area and at the OCC
is subject to delay, commenters are encouraged to submit comments by
email if possible. Comments may be sent to: Legislative and Regulatory
Activities Division, Office of the Comptroller of the Currency,
Attention: 1557-0202, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to
(571) 465-4326 or by electronic mail to [email protected].
You may personally inspect and photocopy comments at the OCC, 400 7th
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 (202) 649-6700. 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.
All comments received, including attachments and other supporting
materials, are part of the public record and subject to public
disclosure. Do not enclose any information in your comment or
supporting materials that you consider confidential or inappropriate
for public disclosure.
FOR FURTHER INFORMATION CONTACT: You can request additional information
or a copy of the collection from Johnny Vilela or Mary H. Gottlieb,
(202) 874-5090, for persons who are deaf or hard of hearing, TTY, (202)
649-5597, Legislative and Regulatory Activities Division, Office of the
Comptroller of the Currency, 250 E Street SW., Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval
of the following information collection:
Title: Loans in Areas Having Special Flood Hazards--12 CFR part 22.
OMB Control Number: 1557-0202.
Description: The regulation requires national banks to make
disclosures and keep records regarding whether a
[[Page 35413]]
property held as security for a loan is located in a special flood
hazard area.
This information collection is required by section 303(a) \1\ and
title V of the Riegle Community Development and Regulatory Improvement
Act,\2\ the National Flood Insurance Reform Act of 1994 amendments to
the National Flood Insurance Act of 1968,\3\ the Flood Disaster
Protection Act of 1973,\4\ and by OCC regulations implementing those
statutes. The information collection requirements are contained in 12
CFR part 22.
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\1\ 12 U.S.C. 4804.
\2\ 42 U.S.C. 4104(a).
\3\ 12 U.S.C. 4104a and 4104b.
\4\ 12 U.S.C. 4012a and 4106(b).
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Section 22.6 requires a national bank to use the Standard Flood
Hazard Determination Form developed by the Federal Emergency Management
Agency (FEMA) and to maintain a completed copy of that form for the
period of time the bank owns the loan.
Section 22.7 requires a national bank or its loan servicer, if a
borrower has not obtained flood insurance, to notify the borrower to
obtain adequate flood insurance coverage or the bank or servicer will
purchase flood insurance on the borrower's behalf.
Section 22.9 requires a national bank making, extending,
increasing, or renewing a loan secured by a building or a mobile home
located in a special flood hazard area to advise the borrower and the
loan servicer that the property is located in a special flood hazard
area; provide a description of the flood insurance purchase
requirements; and provide information regarding the availability of
insurance under the National Flood Insurance Program and of Federal
assistance in the event of a declared Federal flood disaster. In lieu
of providing the borrower notice, a national bank may obtain a
satisfactory written assurance from a seller or lessor that, within a
reasonable time before completion of the sale or lease transaction, the
seller or lessor provided such notice to the purchaser or lessee. For
the period of time the bank owns the loan, the bank must maintain a
record of the borrower's and loan servicer's receipts of these notices
and, where appropriate, the written assurance from the seller or the
lessor.
Section 22.10 requires a national bank making, increasing,
extending, renewing, selling, or transferring a loan secured by a
building or a mobile home located in a special flood hazard area to
notify FEMA of the identity of the servicer, and of any change in
servicers.
These information collection requirements ensure bank compliance
with applicable Federal law, further bank safety and soundness, provide
protections for banks and the public, and further public policy
interests.
Type of Review: Regular review.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 2,251.
Estimated Responses per Respondent: 2,729.
Estimated Total Annual Responses: 6,142,979.
Estimated Frequency of Response: On occasion.
Estimated Total Annual Burden: 363,012 hours.
An agency may not conduct or sponsor, and a respondent is not
required to respond to, an information collection unless the
information collection displays a currently valid OMB control number.
Comments submitted in response to this notice will be summarized
and included in the request for OMB approval. All comments become a
matter of public record. Comments are invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information shall have practical utility;
(b) The accuracy of the OCC's estimate of the burden of the
collection of information;
(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: June 16, 2014.
Stuart E. Feldstein,
Director, Legislative & Regulatory Activities Division.
[FR Doc. 2014-14391 Filed 6-19-14; 8:45 am]
BILLING CODE 4810-33-P