Appraisal Subcommittee; Notice of Meeting
| Published date | 01 February 2019 |
| Citation | 84 FR 1125 |
| Record Number | 2019-00668 |
| Section | Notices |
| Court | Federal Financial Institutions Examination Council |
1125
Federal Register / Vol. 84, No. 22 / Friday, February 1, 2019 / Notices
General Description of Collection: The
regulation containing this information
collection requirement is 12 CFR part
334, which implements sections 114
and 315 of the Fair and Accurate Credit
Transactions Act of 2003 (FACT Act),
Public Law 108–159 (2003).
FACT Act Section 114: Section 114
requires the Board of Governors of the
Federal Reserve System, the Office of
the Comptroller of the Currency and the
FDIC (the Agencies) to jointly propose
guidelines for financial institutions and
creditors identifying patterns, practices,
and specific forms of activity that
indicate the possible existence of
identity theft. In addition, each financial
institution and creditor is required to
establish reasonable policies and
procedures to address the risk of
identity theft that incorporate the
guidelines. Credit card and debit card
issuers must develop policies and
procedures to assess the validity of a
request for a change of address under
certain circumstances.
The information collections pursuant
to section 114 require each financial
institution and creditor to create an
Identity Theft Prevention Program and
report to the board of directors, a
committee thereof, or senior
management at least annually on
compliance with the proposed
regulations. In addition, staff must be
trained to carry out the program. Each
credit and debit card issuer is required
to establish policies and procedures to
assess the validity of a change of
address request. The card issuer must
notify the cardholder or use another
means to assess the validity of the
change of address.
FACT Act Section 315: Section 315
requires the Agencies to issue
regulations providing guidance
regarding reasonable policies and
procedures that a user of consumer
reports must employ when such a user
receives a notice of address discrepancy
from a consumer reporting agencies.
Part 334 provides such guidance. Each
user of consumer reports must develop
reasonable policies and procedures that
it will follow when it receives a notice
of address discrepancy from a consumer
reporting agency. A user of consumer
reports must furnish an address that the
user has reasonably confirmed to be
accurate to the consumer reporting
agency from which it receives a notice
of address discrepancy.
There is no change in the method or
substance of the information collection.
The total estimated annual burden
hours have increased because of the
inclusion of the agency’s estimate of
third-party disclosure burden associated
with the notices required by Section 315
of the FACT Act which were previously
not included because the agencies had
taken the position that the entities
covered by the regulation were already
furnishing addresses that they had
reasonably confirmed to be accurate to
consumer reporting agencies from
which they receive a notice of address
discrepancy as a usual and customary
business practice. The above burden
estimate now includes burden for the
third-party disclosure requirements
associated with Section 315 which
resulted in an increase in estimated
annual burden of 14,300 hours. This
increase was offset, in part, by a
reduction in the estimated number of
respondents from 4,017 to 3,575 which
resulted in a decrease in the estimated
annual burden for the recordkeeping
requirement associated with Sections
114 and 315 from 64,272 hour to 57,200
hours. The net effect of the revision is
an increase in estimated annual burden
from 64,272 hours to 71,500 hours.
Request for Comment
Comments are invited on: (a) Whether
the collection of information is
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 collection,
including the validity of the
methodology and assumptions used; (c)
ways to enhance the quality, utility, and
clarity of the information to be
collected; and (d) ways to minimize the
burden of the collection 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, on January 28,
2019.
Federal Deposit Insurance Corporation.
Valerie Best,
Assistant Executive Secretary.
[FR Doc. 2019–00560 Filed 1–31–19; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL FINANCIAL INSTITUTIONS
EXAMINATION COUNCIL
[Docket No. AS19–01]
Appraisal Subcommittee; Notice of
Meeting
AGENCY
: Appraisal Subcommittee of the
Federal Financial Institutions
Examination Council.
ACTION
: Notice of meeting.
Description: In accordance with
Section 1104(b) of Title XI of the
Financial Institutions Reform, Recovery,
and Enforcement Act of 1989, as
amended, notice is hereby given that the
Appraisal Subcommittee (ASC) will
meet in open session for its regular
meeting:
Location: Federal Reserve Board—
International Square Location, 1850 K
Street NW, Washington, DC 20006.
Date: February 13, 2019.
Time: 10:00 a.m.
Status: Open.
Reports
Chairman
Executive Director
Delegated State Compliance Reviews
Financial Report
Action and Discussion Items
Open Session Minutes
•August 29, 2018
Reprogramming Request for FY18
Appraisal Foundation Grant
ASC Roundtable Summary
How To Attend and Observe an ASC
Meeting
If you plan to attend the ASC Meeting
in person, we ask that you send an
email to meetings@asc.gov. You may
register until close of business four
business days before the meeting date.
You will be contacted by the Federal
Reserve Law Enforcement Unit on
security requirements. You will also be
asked to provide a valid government-
issued ID before being admitted to the
Meeting. The meeting space is intended
to accommodate public attendees.
However, if the space will not
accommodate all requests, the ASC may
refuse attendance on that reasonable
basis. The use of any video or audio
tape recording device, photographing
device, or any other electronic or
mechanical device designed for similar
purposes is prohibited at ASC Meetings.
Dated: January 29, 2019.
James R. Park,
Executive Director.
[FR Doc. 2019–00668 Filed 1–31–19; 8:45 am]
BILLING CODE 6700–01–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisitions of Shares of a Bank or
Bank Holding Company
The notificants listed below have
applied under the Change in Bank
Control Act (‘‘Act’’) (12 U.S.C. 1817(j))
and § 225.41 of the Board’s Regulation
Y (12 CFR 225.41) to acquire shares of
a bank or bank holding company. The
factors that are considered in acting on
VerDate Sep<11>2014 21:23 Jan 31, 2019 Jkt 247001 PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 E:\FR\FM\01FEN1.SGM 01FEN1
