[Federal Register Volume 79, Number 178 (Monday, September 15, 2014)]
[Notices]
[Pages 55069-55070]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-21845]
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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; 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).
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.'' The OCC is
also giving notice that it has sent the collection to OMB for review.
DATES: You should submit written comments by: October 15, 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.
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-0202, 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: 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 parts 22
and 172.
OMB Control Number: 1557-0202.
Description: The regulations require national banks and Federal
savings associations to make disclosures and keep records regarding
whether a 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 parts 22 and 172.
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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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Sections 22.6 and 172.6 require a national bank or Federal savings
association to use the Standard Flood Hazard Determination Form
developed by the Federal Emergency Management Agency (FEMA) and to
maintain a
[[Page 55070]]
completed copy of that form for the period of time the bank or savings
association owns the loan.
Sections 22.7 and 172.7 require a national bank, Federal savings
association, 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, savings association, or servicer will purchase
flood insurance on the borrower's behalf.
Sections 22.9 and 172.9 require a national bank or Federal savings
association 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 or Federal savings association 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 national bank or Federal savings association owns the loan,
the national bank or Federal savings association 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.
Sections 22.10 and 172.10 require a national bank or Federal
savings association 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 national bank and
Federal savings association compliance with applicable Federal law,
further bank or savings association safety and soundness, provide
protections for financial institutions 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.
The OCC issued a notice for this collection for 60 days of comment
on June 20, 2014, (79 FR 35413). 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 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: September 9, 2014.
Stuart E. Feldstein,
Director, Legislative & Regulatory Activities Division.
[FR Doc. 2014-21845 Filed 9-12-14; 8:45 am]
BILLING CODE 4810-33-P