Prohibited Service at Savings and Loan Holding Companies

Forms and Documents

Document	Type	Status	Availability
1550 0117Supporting Statement (2).doc	Supporting Statement A	Uploaded 2010-07-16	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
180453	Application for exemption		Modified

ICR Details

OMB Control No: 1550-0117	ICR Reference No: 200804-1550-010
Status: Historical Active	Previous ICR Reference No: 200705-1550-005
Agency/Subagency: TREAS/OTS	Agency Tracking No:
Title: Prohibited Service at Savings and Loan Holding Companies
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: 09/16/2010
	Date Received in OIRA: 07/22/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2013	36 Months From Approved	09/30/2010
Responses	15	0	50
Time Burden (Hours)	240	0	800
Cost Burden (Dollars)	0	0	0

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Abstract: Section 19(e) of the Federal Deposit Insurance Act prohibits any person who has been convicted of any criminal offense involving dishonesty or a breach of trust, or money laundering or has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such an offense from holding certain positions with respect to a savings and loan holding company. The OTS regulations describes the actions that are prohibited under the new statute and describes procedures for applying for an OTS order granting a case-by-case exemption.

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Authorizing Statute(s): PL: Pub.L. 109 - 251 710(a) Name of Law: Financial Services Regulatory Relief Act of 2006
  

Citations for New Statutory Requirements: PL: Pub.L. 109 - 251 19(e) Name of Law: Federal Deposit Insurance Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 22681	04/29/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 42833	07/22/2010
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
Application for exemption

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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	15	50	0	0	-35	0
Annual Time Burden (Hours)	240	800	0	0	-560	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 OTS is citing a reduction in the burden due to a reduction in the number of respondents. The information collected, when a savings and loan holding company (SLHC)or an individual applies for a case-by-case exemption, will be used by OTS to determine whether to approve or deny the prohibited person’s involvement in the affairs of the SLHC.

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Annual Cost to Federal Government:

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]? Uncollected

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: 07/22/2010

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