89 FR 245 pgs. 104307-104308 - Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Appraisal Management Companies
Type: NOTICEVolume: 89Number: 245Pages: 104307 - 104308
Pages: 104307, 104308FR document: [FR Doc. 2024-30447 Filed 12-19-24; 8:45 am]
Agency: Treasury Department
Sub Agency: Customs Service
Official PDF Version: PDF Version
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Appraisal Management Companies
AGENCY:
Office of the Comptroller of the Currency (OCC), Treasury.
ACTION:
Notice and request for comment.
SUMMARY:
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning a revision to its information collection titled, "Appraisal Management Companies." The OCC also is giving notice that it has sent the collection to OMB for review.
DATES:
Comments must be received by January 21, 2025.
ADDRESSES:
Commenters are encouraged to submit comments by email, if possible. You may submit comments by any of the following methods:
• Email: prainfo@occ.treas.gov.
• Mail: Chief Counsel's Office, Attention: Comment Processing, Office of the Comptroller of the Currency, Attention: 1557-0324, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
• Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
• Fax: (571) 293-4835.
Instructions: You must include "OCC" as the agency name and "1557-0324" in your comment. In general, the OCC will publish comments on www.reginfo.gov without change, including any business or personal information provided, such as name and address information, email addresses, or phone numbers. Comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure.
Written comments and recommendations for the proposed information collection should also be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/PRAMain. You can find this information collection by selecting "Currently under 30-day Review-Open for Public Comments" or by using the search function.
You may review comments and other related materials that pertain to this information collection following the close of the 30-day comment period for this notice by the method set forth in the next bullet.
• Viewing Comments Electronically: Go to www.reginfo.gov. Hover over the "Information Collection Review" tab and click on "Information Collection Review" from the drop-down menu. From the "Currently under Review" drop-down menu, select "Department of Treasury" and then click "submit." This information collection can be located by searching OMB control number "1557-0324" or "Appraisal Management Companies." Upon finding the appropriate information collection, click on the related "ICR Reference Number." On the next screen, select "View Supporting Statement and Other Documents" and then click on the link to any comment listed at the bottom of the screen.
• For assistance in navigating www.reginfo.gov, please contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, Clearance Officer, (202) 649-5490, Chief Counsel's Office, Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219. If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
SUPPLEMENTARY INFORMATION:
Under the PRA (44 U.S.C. 3501 et seq. ), Federal agencies must obtain approval from the OMB for each collection of information that they conduct or sponsor. "Collection of information" is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency requests or requirements that members of the public submit reports, keep records, or provide information to a third party. The OCC asks the OMB to extend its approval of the collection in this notice.
Title: Appraisal Management Companies.
OMB Control No.: 1557-0324.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Description: This information collection comprises recordkeeping and disclosure requirements under regulations issued by the OCC, jointly with the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, the Bureau of Consumer Financial Protection, and the Federal Home Finance Agency, that implement the minimum requirements in section 1473 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) to be applied by States in the registration and supervision of appraisal management companies (AMCs). The regulations also implement the requirement in section 1473 of the Dodd-Frank Act for States to report to the Appraisal Subcommittee of the Federal Financial Institutions Examination Council the information required by the ASC to administer the new national registry of appraisal management companies (AMC National Registry or Registry). The information collection requirements are established in 12 CFR part 34 of the OCC's codified regulations. There is no change in the methodology or substance of this information collection. The decrease in total estimated annual burden from 2,455 in 2021 to 1,991 currently is due to a change in the estimated number or respondents.
[top] Estimated Burden:
| Information collection (IC) (obligation to respond) | Type of burden (frequency of response) | Number of respondents | Number of responses per respondent | Time per response (HH:MM) | Annual burden (hours) |
|---|---|---|---|---|---|
| 1. Written Notice of Appraiser Removal from Network or Panel, 12 CFR 34.212(b) (Mandatory) | Disclosure (On occasion) | 8,481 | 1 | 00:05 | 707 |
| 2. Develop and Maintain a State Licensing Program, 12 CFR 34.213(a) and (b) (Mandatory) | Recordkeeping (On occasion) | 1 | 1 | 40:00 | 40 |
| 3. AMC Disclosure Requirements (State regulated AMCs), 12 CFR 34.214 (Mandatory) | Disclosure (On occasion) | 1,206 | 1 | 01:00 | 1,206 |
| 4. AMC Disclosure Requirements (Federally regulated AMCs), 12 CFR 34.215(c) (Mandatory) | Disclosure (On occasion) | 38 | 1 | 01:00 | 38 |
| Total Annual Burden (Hours): | 1,991 |
Estimated Total Annual Burden: 1,991 hours.
Comments: On October 15, 2024, the OCC published a 60-day notice for this information collection, (89 FR 83087). No comments were received.
Comments continue to be invited on:
(a) Whether the collection of information is necessary for the proper performance of the functions of the OCC, including whether the information has practical utility;
(b) The accuracy of the OCC'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 start-up costs and costs of operation, maintenance, and purchase of services to provide information.
Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2024-30447 Filed 12-19-24; 8:45 am]
BILLING CODE 4810-33-P