These information collections are
required under section 305 of the Gramm-Leach Bliley Act, Public
Law No. 106-102. This section requires the Federal banking agencies
to prescribe joint consumer protection regulations that apply to
retail sales practices, solicitations, advertising, and offers of
any insurance product by the depository institution or by other
persons performing these activities at an office of the institution
or on behalf of the institution. The section requires those
performing such activities to disclose certain information to
consumers and to obtain consumers' acknowledgements.
The OTS is citing a decrease in
the inventory due to a decrease in the number of respondents and
responses. Consumers will use the disclosures to understand the
risks of buying insurance products or annuities and to understand
that the FDIC does not insure such products. Institutions and
others will use the consumers acknowledgment to verify that
consumers received the disclosures.
$0
No
No
No
No
No
Uncollected
April Breslaw 202 906-6989
april.breslaw@ots.treas.gov
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.