[Federal Register Volume 59, Number 1 (Monday, January 3, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 93-32025]


[[Page Unknown]]

[Federal Register: January 3, 1994]


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FEDERAL DEPOSIT INSURANCE CORPORATION

 

Privacy Act of 1974; Proposed New System of Records

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of proposed system of records--``Affordable Housing 
Program Records System.''

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SUMMARY: In accordance with the Privacy Act of 1974 (5 U.S.C. 552a), 
the FDIC gives notice of the proposed establishment of a new system of 
records entitled ``Affordable Housing Program Records System''.

DATES: Comments on the establishment of the system must be submitted by 
February 11, 1994. The system will become effective February 28, 1994 
unless a superseding notice to the contrary is published before that 
date.

ADDRESSES: Comments should be addressed to Hoyle L. Robinson, Executive 
Secretary, Federal Deposit Insurance Corporation, 550-17th Street, NW., 
Washington, DC 20429, or hand-delivered to room F-400 at 1776 F Street, 
NW., Washington, DC, Monday through Friday, between the hours of 9 a.m. 
and 5 p.m.

FOR FURTHER INFORMATION CONTACT: Frederick N. Ottie, Attorney, FDIC, 
550-17th Street, NW., Washington, DC 20429, (202) 898-6679.

SUPPLEMENTARY INFORMATION: The FDIC is proposing to establish a new 
system of records pursuant to the Privacy Act of 1974 (5 U.S.C. 552a), 
entitled ``Affordable Housing Program Records System''. The system will 
consist of the purchaser's or prospective purchaser's income 
qualification form and substantiating documents (such as financial 
statements, income tax returns, assets or collateral verifications, 
appraisals, and sources of income); copies of sales contracts, deeds, 
or other recorded instruments; intra-agency forms, memoranda, or notes 
related to the property and purchaser's participation in the FDIC's 
Affordable Housing Program; correspondence; and any other documents 
related to the FDIC's Affordable Housing Program.
    Accordingly, the Board of Directors of the FDIC proposes to 
establish the system to read as follows:
FDIC 30-64-0023
    Affordable Housing Program Records System.
    Designated FDIC service centers, regional offices, and consolidated 
field offices. A list of the designated locations is available from the 
FDIC's Division of Depositor and Asset Services, 550-17th Street, NW., 
Washington, DC 20429.
    Purchasers and prospective purchasers of residential properties 
offered for sale through the FDIC's Affordable Housing Program. To be 
considered a prospective purchaser for purposes of this records system, 
the party must have (1) completed and signed an FDIC ``Certification of 
Income Eligibility'' and (2) delivered the form to an authorized 
representative of the FDIC's Affordable Housing Program.
    Contains the purchaser's or prospective purchaser's income 
qualification form and substantiating documents (such as financial 
statements, income tax returns, assets or collateral verifications, 
appraisals, and sources of income); copies of sales contracts, deeds, 
or other recorded instruments; intra-agency forms, memoranda, or notes 
related to the property and purchaser's participation in the FDIC's 
Affordable Housing Program; correspondence; and any other documents 
related to the FDIC's Affordable Housing Program.
    Sections 9, 11, 13, and 40 of the Federal Deposit Insurance Act (12 
U.S.C. 1819, 1821, 1823, 1831q).
    Information in this system may be disclosed:
    (1) To a congressional office in response to an inquiry made at the 
request of the individual to whom the record pertains;
    (2) To a court, magistrate, or administrative tribunal in the 
course of presenting evidence, including disclosures to counsel or 
witnesses in the course of civil discovery, litigation, or settlement 
negotiations or in connection with criminal proceedings;
    (3) To the appropriate federal, state, or local agency or authority 
responsible for investigating or prosecuting a violation of or for 
enforcing or implementing a statute, rule, regulation, or order, when 
the information indicates a violation or potential violation of law, 
whether civil, criminal, or regulatory in nature, and whether arising 
by general statute or particular program statute, or by regulation, 
rule, or order issued pursuant thereto;
    (4) To persons or firms retained by the FDIC to perform services in 
connection with the implementation of the Affordable Housing Program 
such as brokers, appraisers, mortgage lenders, outside counsel, and 
outside consultants; and
    (5) To mortgage companies, financial institutions, federal agencies 
(such as the Federal Housing Administration, the Farmers Home 
Administration, and the Veterans Administration), or state and local 
government housing agencies where information is relevant to an 
application or request for a loan, grant, financial benefit, or other 
type of assistance or entitlement.
    Disclosure may be made from this system pursuant to 5 U.S.C. 
552a(b)(12) to ``consumer reporting agencies'' as defined in the Fair 
Credit Reporting Act (15 U.S.C. 1681a(f)) or the Federal Claims 
Collection Act of 1966 (31 U.S.C. 3701(a)(3)).
    Maintained on computer disks and in file folders.
    Retrieved by name of purchaser or prospective purchaser of 
affordable housing property, and by address of the property purchased.
    File folders are maintained in lockable metal file cabinets. 
Computer disks are accessed by authorized personnel.
    Affordable Housing Program files and information maintained in an 
online capacity are destroyed six years after termination of 
receivership of the closed bank from which the property was acquired if 
no longer needed by FDIC and in accordance with state or federal 
banking laws.
    The appropriate FDIC regional director for records maintained in 
FDIC service centers and regional offices, and the appropriate FDIC 
bank liquidation specialist-in-charge for records maintained in 
consolidated field offices.
    Requests must be in writing and addressed to the Office of the 
Executive Secretary, FDIC, 550-17th Street, NW., Washington, DC 20429. 
The request must contain the purchaser's or the prospective purchaser's 
name and address.
    Same as ``Notification'' above.
    Same as ``Notification'' above.
    Information is obtained principally from the individual upon whom 
the record is maintained; information pertaining to an individual may, 
in some cases, be supplemented with reports from credit bureaus and/or 
other services.
    None.

    By direction of the Board of Directors.

    Dated at Washington, DC, this 20th day of December 1993.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Deputy Executive Secretary.
[FR Doc. 93-32025 Filed 12-30-93; 8:45 am]
BILLING CODE 6714-01-P