[Federal Register: January 26, 2005 (Volume 70, Number 16)]
[Notices]
[Page 3769-3770]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr26ja05-151]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Proposed Information Collection; Comment Request
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. Currently, the OCC is soliciting comment concerning its
extension, without change, of an information collection titled ``(MA)
Loans in Areas Having Special Flood Hazards (12 CFR 22)''.
DATES: You should submit written comments by: March 28, 2005.
ADDRESSES: You should direct all written comments to the Communications
Division, Attention: 1557-0202, Third Floor, Office of the Comptroller
of the Currency, 250 E Street, SW., Washington, DC 20219. In addition,
comments may be sent by facsimile transmission to (202) 874-4448, or by
electronic mail to regs.comments@occ.treas.gov.
FOR FURTHER INFORMATION CONTACT: You can request additional information
or a copy of the collection from Mary Gottlieb or Camille Dixon, (202)
874-5090, Legislative and Regulatory Activities Division (1557-0202),
Office of the Comptroller of the Currency, 250 E Street, SW.,
Washington, DC 20219. You can inspect and photocopy the comments at the
OCC's Public Reference Room, 250 E Street, SW., Washington, DC, between
9 a.m. and 5 p.m. on business days. You can make an appointment to
inspect the comments by calling (202) 874-5043.
SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval
of the following information collection:
Title: (MA) Loans in Areas Having Special Flood Hazards--12 CFR 22.
OMB Number: 1557-0202.
Description: This submission covers an existing regulation and
involves no change to the regulation or the information collection. The
OCC requests only that OMB renew its approval of the information
collection. The regulation requires national banks to make disclosures
and keep records regarding whether a property securing a loan is
located in a special flood hazard area.
This information collection is required by section 303(a) and title
V of the Riegle Community Development and Regulatory Improvement Act,
Pub. L. No. 103-325, title V, 108 Stat. 2160, the National Flood
Insurance Reform Act of 1994 amendments to the National Flood Insurance
Act of 1968 (12 U.S.C. 4104a and 4104b) and the Flood Disaster
Protection Act of 1973 (12 U.S.C. 4012a and 4106(b)), and by OCC
regulations implementing those statutes.
The information collection requirements are contained in 12 CFR
part 22.
Section 22.6 requires a national bank to use and maintain a copy of
the Standard Flood Hazard Determination Form developed by the Federal
Emergency Management Agency (FEMA).
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 a loan secured by a
building or a mobile home to advise the borrower and the loan servicer
that the property is, or is not, located in a special flood hazard
area, if flood insurance is available under the National Flood
Insurance Program, and if Federal disaster relief may be available in
the event of flooding. The bank must maintain a record of the borrower
and loan servicer's receipts of these notices.
Section 22.10 requires a national bank making 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: Extension, without change, of a currently approved
collection.
Affected Public: Businesses or other for-profit.
Number of Respondents: 2,300.
Total Annual Responses: 230,000.
Frequency of Response: On occasion.
Total Annual Burden Hours: 58,650.
Comments submitted in response to this notice will be summarized
and included in the request for OMB approval. All comments will become
a matter of public record.
Comments are invited on:
(a) Whether the collection of information is necessary for the
proper
[[Page 3770]]
performance of the functions of the agency, including whether the
information shall have practical utility;
(b) The accuracy of the agency'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 startup costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: January 18, 2005.
Stuart Feldstein,
Assistant Director, Legislative & Regulatory Activities Division.
[FR Doc. 05-1361 Filed 1-25-05; 8:45 am]
BILLING CODE 4810-33-P