[Federal Register Volume 79, Number 144 (Monday, July 28, 2014)]
[Notices]
[Pages 43824-43825]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-17703]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Community Reinvestment Act
Regulations
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).
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, ``Community
Reinvestment Act Regulations.'' The OCC is also giving notice that it
has sent the collection to OMB for review.
DATES: Comments must be submitted on or before August 27, 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: 1557-0160, 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
[[Page 43825]]
you consider confidential or inappropriate for public disclosure.
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-0320, U.S. Office of Management and Budget, 725 17th
Street NW., 10235, Washington, DC 20503, or by email to:
[email protected].
FOR FURTHER INFORMATION CONTACT: Johnny Vilela or Mary H. Gottlieb, OCC
Clearance Officers, (202) 649-5490, 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, 400 7th Street
SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal
agencies must obtain approval from the OMB for each collection of
information they conduct or sponsor. ``Collection of information'' is
defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency
requests or requirements that members of the public submit reports,
keep records, or provide information to a third party.
The OCC is proposing to extend OMB approval of the following
information collection:
Title: Community Reinvestment Act Regulations.
OMB Control Number: 1557-0160.
Description: The Community Reinvestment Act (CRA) requires the
Federal banking agencies (Agencies) to assess the record of banks and
savings associations in helping to meet the credit needs of their
entire communities, including low- and moderate-income neighborhoods,
consistent with safe and sound operations; and to take this record into
account in evaluating applications for mergers, branches, and certain
other corporate activities.\1\ The CRA statute requires the Agencies to
issue regulations to carry out its purposes.\2\
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\1\ 12 U.S.C. 2903.
\2\ 12 U.S.C. 2905.
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Each Agency must provide written CRA evaluations of the
institutions they supervise. The public portion of each written
evaluation must present the Agency's conclusions with respect to the
CRA performance standards identified in its regulations; include the
facts and data supporting those conclusions; and contain the
institution's CRA rating and the basis for that rating.
The data collection requirements in the CRA regulations are
necessary for the Agencies to examine, assess, and assign a rating to
an institution's CRA performance and to prepare the public section of
the written CRA performance evaluation.
Type of Review: Regular review.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 1,693.
Estimated Total Annual Burden: 142,463 hours.
Comments: The OCC issued a 60-day notice regarding this collection
on April 25, 2014. 79 FR 23058. One comment was received. The commenter
made a number of recommendations related to the OCC's supervisory uses
of data in connection with the CRA regulation's service test.\3\
However, the commenter's recommendations do not relate to the CRA
regulation's data collection requirements, which are the subject of
this continuing information collection.
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\3\ The service test evaluates a bank or Federal savings
association's record of helping to meet the credit needs of its
assessment area(s) by analyzing both the availability and
effectiveness of a bank's systems for delivering retail banking
services and the extent and innovativeness of its community
development services. 12 CFR 25.24 and 195.24.
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In general, the commenter stated that using more data in the
service test would make bank evaluations easier for banks and
examiners. The commenter recommended that bank examiners consider
additional information for the service test that would assist with the
evaluation of: The distribution of bank branches and products; opening
and closing of bank branches; accessibility and use of alternative
financial services; and the impact of banking services on customers and
communities. The commenter also suggested that, in addition to a
qualitative evaluation, that examiners use quantitative data to
evaluate a bank's programs and determine if, and to what degree, a
bank's services benefit the community.
The OCC is carefully considering the recommendations made by the
commenter in connection with the possible issuance of future CRA-
related guidance addressing the service test.
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 burden of the
information collection;
(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: July 22, 2014.
Stuart E. Feldstein,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 2014-17703 Filed 7-25-14; 8:45 am]
BILLING CODE 4810-33-P