Community Reinvestment Act Regulation

Forms and Documents

Document Name	Status
1557-0160 Supporting Statement for Final Rule 11-14-17.doc Supporting Statement A	2017-11-17

IC Document Collections

IC ID	Document Title	Status
41245	Community Reinvestment Act Regulation	Unchanged

ICR Details

OMB Control No: 1557-0160	ICR Reference No: 201711-1557-005
Status: Historical Active	Previous ICR Reference No: 201710-1557-001
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Community Reinvestment Act Regulation
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/26/2017
	Date Received in OIRA: 11/25/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2020	36 Months From Approved	10/31/2020
Responses	1,234	0	1,234
Time Burden (Hours)	113,351	0	113,351
Cost Burden (Dollars)	0	0	0

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Abstract: The Community Reinvestment Act (CRA) requires the banking agencies to assess the record of banks and thrifts in helping to meet the credit needs of their entire communities, including low-and moderate-income neighborhoods, consistent with safe and sound operations and to take this record into account in evaluating applications for megers, branches, and certain other corporate activities. The public and the OCC use the information to assess the bank's community lending record. The OCC submits this ICR pursuant to a final rule. Under the rule issued by the OCC, FRB, and FDIC, effective January 1, 2018, financial institutions required to collect data under the CRA would also be required to collect data for open-end lines of credit in MSA and non-MSA areas where they have no branch or home office. We estimate that there would be no change in burden because the burden associated with the requirement is accounted for under the OCC's HMDA information collection (1557-0159).

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Authorizing Statute(s): US Code: 12 USC 2901 et seq. Name of Law: Community Reinvestment Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AE15	Final or interim final rulemaking	82 FR 55734	11/24/2017

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Community Reinvestment Act Regulation

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	1,234	1,234	0	0	0	0
Annual Time Burden (Hours)	113,351	113,351	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 11/25/2017

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