30-Day Federal Register Notice

FR2-0140 Insurance Sales Consumer Protections 81 FR 85957 November 29 2016.pdf

Insurance Sales Consumer Protections

30-Day Federal Register Notice

OMB: 3064-0140

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Federal Register / Vol. 81, No. 229 / Tuesday, November 29, 2016 / Notices
Note 1 to 47 CFR 76.601 states prior
to additional testing pursuant to Section
76.601(c), the local franchising authority
shall notify the cable operator, who will
then be allowed thirty days to come into
compliance with any perceived signal
quality problems which need to be
corrected.
47 CFR 76.1704 requires that proof of
performance test required by 47 CFR
76.601 shall be maintained on file at the
operator’s local business office for at
least five years. The test data shall be
made available for inspection by the
Commission or the local franchiser,
upon request. If a signal leakage log is
being used to meet proof of performance
test recordkeeping requirement in
accordance with Section 76.601, such a
log must be retained for the period
specified in 47 CFR 76.601(d).
47 CFR 76.1705 requires that the
operator of each cable television system
shall maintain at its local office a
current listing of the cable television
channels which that system delivers to
its subscribers.
47 CFR 76.1717 states that an operator
shall be prepared to show, on request by
an authorized representative of the
Commission or the local franchising
authority, that the system does, in fact,
comply with the technical standards
rules in part 76, subpart K.

Federal Communications Commission.
Gloria J. Miles,
Federal Register Liaison Officer, Office of the
Secretary.

Interested parties are
invited to submit written comments to
the FDIC by any of the following
methods:
• http://www.FDIC.gov/regulations/
laws/federal/notices.html.
• Email: comments@fdic.gov. Include
the name and number of the collection
in the subject line of the message.
• Mail: Manny Cabeza (202–898–
3767), Counsel, MB–3007, Federal
Deposit Insurance Corporation, 550 17th
Street NW., Washington, DC 20429.
• Hand Delivery: Comments may be
hand-delivered to the guard station at
the rear of the 17th Street Building
(located on F Street), on business days
between 7:00 a.m. and 5:00 p.m.
All comments should refer to the
relevant OMB control number. A copy
of the comments may also be submitted
to the OMB desk officer for the FDIC:
Office of Information and Regulatory
Affairs, Office of Management and
Budget, New Executive Office Building,
Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT:
Manny Cabeza, at the FDIC address
above.
ADDRESSES:

[FR Doc. 2016–28650 Filed 11–28–16; 8:45 am]
BILLING CODE 6712–01–P

FEDERAL DEPOSIT INSURANCE
CORPORATION
Agency Information Collection
Activities: Submission for OMB
Review; Comment Request (3064–
0025, –0057, 0140 & –0176)
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice and request for comment.
AGENCY:

The FDIC, 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 the renewal of existing
information collections, as required by
the Paperwork Reduction Act of 1995.
On September 22, 2016, (81 FR 65643),
the FDIC requested comment for 60 days
on a proposal to renew the information
collections described below. No
comments were received. The FDIC
hereby gives notice of its plan to submit
to OMB a request to approve the
renewal of these collections, and again
invites comment on this renewal.
DATES: Comments must be submitted on
or before December 29, 2016.
SUMMARY:

85957

Proposal
to renew the following currently
approved collections of information:
1. Title: Application for Consent to
Exercise Trust Powers.
OMB Number: 3064–0025.
Form Number: FDIC 6200/09.
Affected Public: Insured state
nonmember banks wishing to exercise
trust powers.

SUPPLEMENTARY INFORMATION:

BURDEN ESTIMATE
Estimated
number of
respondents

asabaliauskas on DSK3SPTVN1PROD with NOTICES

Type of
burden

Estimated
hours per
response

Frequency
of response

Total
annual
estimated
burden
(hours)

Eligible depository institutions ..............................................
Not-eligible depository institutions .......................................

Reporting
Reporting

8
4

8
24

On Occasion
On Occasion

64
96

Totals ............................................................................

........................

12

........................

........................

160

General Description of Collection:
FDIC regulations (12 CFR 333.2)
prohibit any insured State nonmember
bank from changing the general
character of its business without the
prior written consent of the FDIC. The
exercise of trust powers by a bank is
usually considered a change in the
general character of a bank’s business if
the bank did not exercise those powers
previously. Therefore, unless a bank is
currently exercising trust powers, it
must file a formal application to obtain
the FDIC’s written consent to exercise

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17:48 Nov 28, 2016

Jkt 241001

trust powers. State banking authorities,
not the FDIC, grant trust powers to their
banks. The FDIC merely consents to the
exercise of such powers. Applicants use
form FDIC 6200/09 to obtain FDIC’s
consent.
2. Title: Certified Statement for
Quarterly Deposit Insurance
Assessment.
OMB Number: 3064–0057.
Form Number: 6420/07.
Affected Public: FDIC-insured
depository institutions.
Estimated Number of Respondents:
6,081.

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Fmt 4703

Sfmt 4703

Frequency of Response: Quarterly.
Estimated Time Burden per Response:
20 minutes.
Total Estimated Annual Burden:
8,108 hours.
General Description of Collection: The
FDIC collects deposit insurance
assessments on a quarterly basis. Each
assessment is based on the institution’s
quarterly report of condition for the
prior calendar quarter. The FDIC
collects the quarterly payments by
means of direct debits through the
Automated Clearing House network.
The collection dates for the first period

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85958

Federal Register / Vol. 81, No. 229 / Tuesday, November 29, 2016 / Notices

of any given year (January through June)
are June 30 and September 30 of the
current year. The collection dates for the
second period (July through December)
are December 30 of the current year and
March 30 of the following year. The
information collection consists of
recordkeeping associated with reviews

by officials of the insured institutions to
confirm that the assessment data are
accurate and, in cases of inaccuracy,
submission of corrected data.
3. Title: Insurance Products Consumer
Protections.
OMB Number: 3064–0140.
Form Number: None.

Affected Public: Insured State
nonmember banks and savings
associations that sell insurance
products; persons who sell insurance
products in or on behalf of insured State
nonmember banks and savings
associations.

BURDEN ESTIMATE
Estimated
number of
respondents

Type of burden

Estimated
hours per
response

Frequency of
response

Total annual
estimated
burden
(hours)

Review disclosure materials .........................
Make disclosures to consumers ...................

Recordkeeping ..........
Disclosure .................

2,020
2,020

1
4

On Occasion .............
On Occasion .............

2,020
8,080

Totals .....................................................

...................................

........................

........................

....................................

10,100

completion of the initial sale of an
insurance product or annuity to a
consumer; and (2) at the time of
application for the extension of credit (if
insurance products or annuities are
sold, solicited, advertised, or offered in
connection with an extension of credit).

General Description of Collection:
Respondents must prepare and provide
certain disclosures to consumers (e.g.,
that insurance products and annuities
are not FDIC-insured) and obtain
consumer acknowledgments, at two
different times: (1) Before the

4. Title: Reverse Mortgage Products.
OMB Number: 3064–0176.
Form Number: None.
Affected Public: Insured State
nonmember banks and savings
associations.

BURDEN ESTIMATE
Estimated
number of
respondents

asabaliauskas on DSK3SPTVN1PROD with NOTICES

Type of burden

Estimated
hours per
response

Frequency of
response

Total annual
estimated
burden
(hours)

Implementation .............................................
Ongoing ........................................................

Reporting ..................
Reporting ..................

1
26

40
8

Annually .....................
Annually .....................

40
200

Totals .....................................................

...................................

........................

........................

....................................

240

General Description of Collection: In
August, 2010, the OCC, FDIC, FRB and
NCUA issued guidance focusing on the
need to provide adequate information to
consumers about reverse mortgage
products; to provide qualified
independent counseling to consumers
considering these products; and to avoid
potential conflicts of interest. The
guidance also addressed related
policies, procedures, internal controls,
and third party risk management. Prior
to the effective date of the final
guidance, the Agencies obtained PRA
approval from OMB for the information
collection requirements contained
therein. These information collection
requirements included implementation
of policies and procedures, training, and
program maintenance. The requirements
are outlined below:
• Institutions offering reverse
mortgages should have written policies
and procedures that prohibit the
practice of directing a consumer to a
particular counseling agency or
contacting a counselor on the
consumer’s behalf.

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17:48 Nov 28, 2016

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• Policies should be clear so that
originators do not have an inappropriate
incentive to sell other products that
appear linked to the granting of a
mortgage.
• Legal and compliance reviews
should include oversight of
compensation programs so that lending
personnel are not improperly
encouraged to direct consumers to
particular products.
• Training should be designed so that
relevant lending personnel are able to
convey information to consumers about
product terms and risks in a timely,
accurate, and balanced manner.
Request for Comment
Comments are invited on: (a) Whether
the collections of information are
necessary for the proper performance of
the FDIC’s functions, including whether
the information has practical utility; (b)
the accuracy of the 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

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Fmt 4703

Sfmt 4703

clarity of the information to be
collected; and (d) ways to minimize the
burden of the collections of information
on respondents, including through the
use of automated collection techniques
or other forms of information
technology. All comments will become
a matter of public record.
Dated at Washington, DC, this 23rd day of
November 2016.
Federal Deposit Insurance Corporation
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016–28679 Filed 11–28–16; 8:45 am]
BILLING CODE 6714–01–P

FEDERAL HOUSING FINANCE
AGENCY
[No. 2016–N–12]

Proposed Collection; Comment
Request
AGENCY:

Federal Housing Finance

Agency.

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