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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1557-0202
ICR Reference No:
201012-1557-003
Status:
Historical Active
Previous ICR Reference No:
200802-1557-003
Agency/Subagency:
TREAS/OCC
Agency Tracking No:
Title:
Loans in Areas Having Special Flood Hazards
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
09/09/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/09/2011
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
09/30/2014
36 Months From Approved
09/30/2011
Responses
6,142,979
0
230,000
Time Burden (Hours)
363,012
0
58,650
Cost Burden (Dollars)
0
0
0
Abstract:
Part 22 requires notifications, disclosures, and recordkeeping in connection with certain loans located in flood hazard ares. Borrowers use the information to make valid purchase decisions. The OCC uses the records to verify compliance. In addition to providing revised estimates based upon comments received, OCC is adjusting its estimates to reflect thrift institutions. On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act, P.L. 111-203, 124 Stat. 1376 (2010) (Dodd-Frank Act) was enacted. As part of the comprehensive package of financial regulatory reform measures enacted, Title III of the Dodd-Frank Act transfers the powers, authorities, rights and duties of the Office of Thrift Supervision to other banking agencies, including the OCC, on the "transfer date." The transfer date is July 21, 2011. The Dodd-Frank Act also abolishes the OTS ninety days after the transfer date. As a result of the Dodd-Frank Act, OCC is taking burden for the thrift institutions it now regulates.
Authorizing Statute(s):
US Code:
12 USC 4804
Name of Law: Riegle Community Development and Regulatory Improvement Act
US Code:
42 USC 4104(a)
Name of Law: Riegle Community Development and Regulatory Improvement Act
US Code:
12 USC 4104a, 4104b
Name of Law: National Flood Insurance Act of 1968
US Code:
12 USC 4012a, 4106(b)
Name of Law: Flood Disaster Protection Act of 1973
US Code:
12 USC 1461 et seq.
Name of Law: Home Owners Loan Act
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 312 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
76 FR 2753
01/14/2011
30-day Notice:
Federal Register Citation:
Citation Date:
76 FR 48943
08/09/2011
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Loans in Areas Having Special Flood Hazards
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
6,142,979
230,000
1,178,650
0
4,734,329
0
Annual Time Burden (Hours)
363,012
58,650
69,556
0
234,806
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:
The increase in burden is due to revised estimates based upon comments received and the addition of thrift institutions.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
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]?
Yes
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Jean Campbell 202 874-5090 jean.campbell@occ.treas.gov
Common Form ICR:
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:
(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:
08/09/2011
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