[Federal Register Volume 79, Number 226 (Monday, November 24, 2014)]
[Notices]
[Pages 69994-69995]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-27686]
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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; Electronic Operations
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 renewal of its information
collection titled, ``Electronic Operations.'' The OCC is also giving
notice that it has sent the collection to OMB for review.
DATES: Comments must be submitted on or before December 24, 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: 1557-0301, 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, 1557-0301, 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 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 this collection for
three years:
Title: Electronic Operations.
OMB Control No.: 1557-0301.
Frequency of Response: On occasion.
Affected Public: Business or other for-profit.
Number of Respondents: 15.
Burden per Respondent: 2 hours.
Total Burden: 30 hours.
Description: Twelve CFR part 155 provides that Federal savings
associations (FSAs) may use, or participate with others to use,
electronic means or facilities to perform any function, or provide any
product or service, as part of an authorized activity. Electronic means
or facilities include, but are not limited to, automated teller
machines, automated loan machines, personal computers, the Internet,
the World Wide Web, telephones, and other similar electronic devices.
The regulation requires each FSA to notify the OCC at least 30 days
before establishing a transactional Web site. A transactional Web site
is an Internet site that enables users to conduct financial
transactions such as accessing an account, obtaining an account
balance, transferring funds, processing bill payments, opening an
account, applying for or obtaining a loan, or purchasing other
authorized products or services. FSAs that present supervisory or
compliance concerns may be subject to additional procedural
requirements.
This information collection facilitates the OCC's ability to
identify industry
[[Page 69995]]
technology trends and better understand emerging technologies. The
information is collected on a transactional basis and is used to ensure
that safety and soundness requirements are being met.
On July 28, 2014, OCC issued a notice for 60 days of comment
concerning this collection. 79 FR 42823. One comment was received.
One commenter asked whether the collection of information is
necessary for the proper performance of the OCC's functions, including
whether the information has practical utility.
The commenter described the collection as an ``anachronism'' that
``no longer reflects the realities and risks of current times.'' The
commenter further noted that the Internet has been widely used as a
channel for offering and conducting banking services for many years and
that the OCC likewise has many years of supervisory experience with
``transactional Web sites,'' which would seem to obviate the continued
need for notice and collection of this information. Finally, the
commenter stated that the information collection is not an effective
way of understanding industry trends and emerging technologies,
contending that FSAs as a group ``tend to be slow adopters of new
technology'' and noting that national banks are not subject to a
similar requirement.
The OCC appreciates the commenter's perspective. In response, the
OCC will give careful consideration to the comment in connection with
the OCC's national bank and FSA rule integration efforts, in particular
whether a notice requirement is still necessary for transactional Web
sites.
Comments continue to be solicited on:
(a) Whether the collections of information are necessary for the
proper performance of the OCC's functions, including whether the
information has practical utility;
(b) The accuracy of the OCC's estimates of the burden of the
information collections, 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 information collections on
respondents, including through the use of automated collection
techniques or other forms of information technology.
Dated: November 18, 2014.
Stuart E. Feldstein,
Legislative and Regulatory Activities Division.
[FR Doc. 2014-27686 Filed 11-21-14; 8:45 am]
BILLING CODE 4810-33-P