30-Day Federal Register Notice

Federal Register / Vol. 83, No. 157 / Tuesday, August 14, 2018 / Notices
Reduction Act of 1995, invites the
general public and other Federal
agencies to take this opportunity to
comment on the renewal of the existing
information collection described below
(3064–0134). On May 24, 2018, the FDIC
requested comment for 60 days on a
proposal to renew the information
collection described below. No
comments were received. The FDIC
hereby gives notice of its plan to submit
to OMB a request to approve the
renewal of this collection, and again
invites comment on this renewal.
Comments must be submitted on
or before September 13, 2018.

DATES:

Interested parties are
invited to submit written comments to
the FDIC by any of the following
methods:
• Agency Website: https://
www.FDIC.gov/regulations/laws/federal.

ADDRESSES:

• Email: [email protected]. Include
the name and number of the collection
in the subject line of the message.
• Mail: Jennifer Jones (202–898–
6768), Counsel, MB–3105, Federal
Deposit Insurance Corporation, 550 17th
Street NW, Washington, DC 20429.
• Hand Delivery: Comments may be
hand-delivered to the guard station at
the rear of the 17th Street Building
(located on F Street), on business days
between 7:00 a.m. and 5:00 p.m.
All comments should refer to the
relevant OMB control number. A copy
of the comments may also be submitted
to the OMB desk officer for the FDIC:
Office of Information and Regulatory
Affairs, Office of Management and
Budget, New Executive Office Building,
Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT:

Jennifer Jones, Counsel, 202–898–6768,
[email protected], MB–3105, Federal

40289

Deposit Insurance Corporation, 550 17th
Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION: On May
24, 2018, the FDIC requested comment
for 60 days on a proposal to renew the
information collection described below.
No comments were received. The FDIC
hereby gives notice of its plan to submit
to OMB a request to approve the
renewal of this collection, and again
invites comment on this renewal.
Proposal to renew the following
currently approved collection of
information:
1. Title: Customer Assistance Forms.
OMB Number: 3064–0134.
Form Number: FDIC 6422/04—
Customer Assistance Form; FDIC 6422/
11—Business Assistance Form; FDIC
6422/15—FDIC Deposit Insurance Form.
Affected Public: Individuals,
Households, Business or Financial
Institutions.
Burden Estimate:

SUMMARY OF ANNUAL BURDEN
Type of
burden
Customer Assistance
Reporting .......
Form (6422/04).
Business Assistance
Reporting .......
Form (6422/11).
FDIC Deposit InsurReporting .......
ance Form (6422/15).

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Total Hourly Burden.

........................

Obligation
to respond

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Estimated
frequency of
responses

Estimated
time per
response

Frequency of
response

Total annual
estimated
burden
(hours)

Voluntary ........

7,000

1

0.25

On Occasion ..

1,750

Voluntary ........

200

1

0.25

On Occasion ..

50

Voluntary ........

1,000

1

0.25

On Occasion ..

250

........................

........................

........................

........................

........................

2,050

General Description of Collection:
This collection facilitates the collection
of information from customers of
financial institutions that have inquiries
or complaints about service. Customers
or businesses may document their
complaints or inquiries to the FDIC
using a letter or optional forms (Form
6422/04; Form 6422/11; Form 6422/15).
The Forms are used to facilitate online
completion and submission of the
complaints or inquiries and to shorten
FDIC response times by making it easier
to identify the nature of the complaint
and to route the customer or business
inquiry to the appropriate FDIC contact.
There is no change in the method or
substance of the collection. The overall
reduction in burden hours is the result
of economic fluctuation. In particular,
the number of respondents has
decreased while the hours per response
and frequency of responses have
remained the same.
Request for Comment: Comments are
invited on: (a) Whether the collection of
information is necessary for the proper

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Estimated
number of
respondents

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 August 9,
2018.
Robert E. Feldman,
Executive Secretary, Federal Deposit
Insurance Corporation.
[FR Doc. 2018–17402 Filed 8–13–18; 8:45 am]
BILLING CODE 6714–01–P

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FEDERAL DEPOSIT INSURANCE
CORPORATION
Agency Information Collection
Activities: Submission for OMB
Review; Comment Request (OMB No.
3064–0195)
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice and request for comment.
AGENCY:

The FDIC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites the
general public and other Federal
agencies to take this opportunity to
comment on the renewal of an existing
information collection, as required by
the Paperwork Reduction Act of 1995.
The FDIC published a notice of its
intent to renew the information
collection described below in the
Federal Register and requested
comment for 60 days. FDIC received one
comment which is fully discussed in the
Supplementary Information section

SUMMARY:

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Federal Register / Vol. 83, No. 157 / Tuesday, August 14, 2018 / Notices

below. No other comments were
received. The FDIC hereby gives notice
of its plan to submit to OMB a request
to approve the renewal of this
information collection, and again invites
comment on the renewal.
DATES: Comments must be submitted on
or before September 13, 2018.
ADDRESSES: Interested parties are
invited to submit written comments to
the FDIC by any of the following
methods:
• Agency website: https://
www.FDIC.gov/regulations/laws/federal.
• Email: [email protected]. Include
the name and number of the collection
in the subject line of the message.
• Mail: Manny Cabeza, Counsel,
Room MB–3007, Federal Deposit

Insurance Corporation, 550 17th Street
NW, Washington, DC 20429.
• Hand Delivery: Comments may be
hand-delivered to the guard station at
the rear of the 17th Street Building
(located on F Street), on business days
between 7:00 a.m. and 5:00 p.m.
All comments should refer to the
relevant OMB control number. A copy
of the comments may also be submitted
to the OMB desk officer for the FDIC:
Office of Information and Regulatory
Affairs, Office of Management and
Budget, New Executive Office Building,
Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT:

Manny Cabeza, Counsel, 202–898–3767,
[email protected], MB–3007, Federal

Deposit Insurance Corporation, 550 17th
Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION:

Proposal to renew the following
currently approved collection of
information:
1. Title: Minimum requirements for
appraisal management companies.
OMB Number: 3064–0195.
Form Number: None.
Affected Public: Participating States
and Appraisal Management Companies
that are subsidiaries owned and
controlled by insured depository
institutions.
Burden Estimate:

SUMMARY OF ANNUAL BURDEN
Estimated
number of
respondents

Type of
burden
IC #1—AMC Written
Notice of Appraiser
Removal from Network or Panel
(323.10).
IC #2—State Recordkeeping Requirements (323.11(a) &
(b).
IC #3—AMC Reporting Requirements
(State and Federal
AMCs)(323.12 &
13(c)).
IC #4—State Reporting Requirements to
the Appraisal Sub
Committee (323.14).

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Total Estimated
Annual Burden.

Total annual
estimated
burden hours

Frequency
of response

FDIC, FRB
and
OCC share
(hours)

FHFA share
(hours)

Record Keeping

9,881

1

0,08

On Occasion ...

790

237

79.

Record Keeping

5

1

40

On Occasion ...

200

50

50.

Reporting ...........

200

2

1

On Occasion ...

400

120

40.

Reporting ...........

55

1

1

On Occasion ...

55

14

14.

...........................

........................

........................

........................

.........................

1,445

421

183

General Description of Collection: The
FDIC, the Office of the Comptroller of
the Currency (OCC), The Board of
Governors of the Federal Reserve
System (FRB) and the Federal Home
Finance Agency (FHFA) (collectively,
the Agencies) issued regulations to
implement the requirements of section
1473 of the Dodd-Frank Wall Street
Reform and Consumer Protection 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 (ASC) of
the Federal Financial Institutions
Examination Council (FFIEC) the
information required by the Appraisal
Subcommittee (ASC) to administer the
new national registry of appraisal
management companies (AMC National
Registry or Registry). The FDIC’s

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Estimated
time per
response
(hours)

Estimated
number of
responses

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regulation is found at 12 CFR part 323
(the Regulation) and contains the
following PRA recordkeeping and
reporting requirements:
AMC Recordkeeping Requirements
(IC #1). Section 323.10 of the Regulation
provides that an appraiser in an AMC’s
network or panel is deemed to remain
on the network or panel until: (i) The
AMC sends a written notice to the
appraiser removing the appraiser with
an explanation; or (ii) receives a written
notice from the appraiser asking to be
removed or a notice of the death or
incapacity of the appraiser. The AMC
would retain these notices in its files.
State Recordkeeping Requirements (IC
#2). States seeking to register AMCs
must have an AMC registration and
supervision program. Section 323.11(a)
of the Regulation requires each
participating State to establish and
maintain within its appraiser certifying
and licensing agency a registration and

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supervision program with the legal
authority and mechanisms to: (i) Review
and approve or deny an application for
initial registration; (ii) periodically
review and renew, or deny renewal of,
an AMC’s registration; (iii) examine an
AMC’s books and records and require
the submission of reports, information,
and documents; (iv) verify an AMC’s
panel members’ certifications or
licenses; (v) investigate and assess
potential violations of laws, regulations,
or orders; (vi) discipline, suspend,
terminate, or deny registration renewals
of, AMCs that violate laws, regulations,
or orders; and (vii) report violations of
appraisal-related laws, regulations, or
orders, and disciplinary and
enforcement actions to the ASC.
Section 323.11(b) requires each
participating State to impose
requirements on AMCs not regulated by
a Federal financial institutions
regulatory agency nor owned and

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Federal Register / Vol. 83, No. 157 / Tuesday, August 14, 2018 / Notices
controlled by an insured depository
institution to: (i) Register with and be
subject to supervision by a State
appraiser certifying and licensing
agency in each State in which the AMC
operates; (ii) use only State-certified or
State-licensed appraisers for Federallyregulated transactions in conformity
with any Federally-regulated transaction
regulations; (iii) establish and comply
with processes and controls reasonably
designed to ensure that the AMC, in
engaging an appraiser, selects an
appraiser who is independent of the
transaction and who has the requisite
education, expertise, and experience
necessary to competently complete the
appraisal assignment for the particular
market and property type; (iv) direct the
appraiser to perform the assignment in
accordance with the Uniform Standards
of Professional Appraisal Practice; and
(v) establish and comply with processes
and controls reasonably designed to
ensure that the AMC conducts its
appraisal management services in
accordance with section 129E(a)-(i) of
the Truth-in-Lending Act.
AMC Reporting Requirements (IC #3).
Section 323.13(c) requires that a
Federally-regulated AMC report to the
State or States in which it operates the
information required to be submitted by
the State pursuant to the ASC’s policies,
including: (i) Information regarding the
determination of the AMC National
Registry fee; and (ii) the information
listed in section 323.12 of the
Regulation. Section 323.12 provides that
an AMC may not be registered by a State
or included on the AMC National
Registry if such company is owned,
directly or indirectly, by any person
who has had an appraiser license or
certificate refused, denied, cancelled,
surrendered in lieu of revocation, or
revoked in any State. Each person that
owns more than 10 percent of an AMC
is required to submit to a background
investigation carried out by the State
appraiser certifying and licensing
agency. While section 323.12 does not
authorize States to conduct background
investigations of Federally-regulated
AMCs, it would allow a State to do so
if the Federally-regulated AMC chooses
to register voluntarily with the State.
State Reporting Requirements (IC #4).
Section 323.14 requires that each State
electing to register AMCs for purposes
of permitting AMCs to provide appraisal
management services relating to covered
transactions in the State must submit to
the ASC the information concerning
such AMCs required to be submitted
under the Regulation and any additional
information required by the ASC.
Burden Estimate Methodology and
Assumptions:

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There is no change in the
methodology or substance of this
information collection. For the
information collections described above,
the general methodology is to compute
the industry wide burden hours for
States and appraisal management
companies (AMCs) and then assign a
share of the burden hours to each of the
regulatory agencies for each information
collection. The Agencies are revising
their burden estimates based on the
following assumptions:
IC #1: AMC Written Notice of
Appraiser Removal from Network or
Panel. The burden for written notices of
appraiser removal from a network or
panel is estimated to be equal to the
number of appraisers who leave the
profession per year multiplied by the
estimated percentage of appraisers who
work for AMCs, then multiplied by
burden hours per notice. The number of
appraisers who leave is calculated by
adding the number of appraisers who
are laid off or resign to the number of
appraisers that have had their licenses
revoked or surrendered. The total
burden hours are then split between the
Federal Reserve Board (FRB), the Office
of the Comptroller of the Currency
(OCC), the Federal Deposit Insurance
Corporation (FDIC), and the Federal
Housing Finance Agency (FHFA) in a
ratio of 3:3:3:1 in accordance with the
burden sharing agreement among the
Agencies.
Finally, the burden hours are
calculated by multiplying the estimated
number of written notices of appraiser
removal (9,881) by the estimated burden
per notice (0.08 hours) for a total of 790
burden hours.1 As previously
mentioned, the total burden hours are
then split between the FDIC, FRB, OCC,
and the FHFA such that the FHFA is
responsible for 79 hours and the other
three agencies are responsible for 237
hours each.
IC #2: Develop and Maintain a State
Licensing Program. The burden on the
States for developing and maintaining
an AMC licensing program is calculated
by multiplying the number of states
without a registration and licensing
program by the hour burden to develop
the system. The total burden hours are
then equally divided among the FDIC,
FRB, OCC, and FHFA. According to the
Appraisal Institute as of July 26, 2017,
there are 5 states that have not
developed a system to register and
1 The ‘‘per notice’’ burden estimate of 0.08 hours
is unchanged from the estimate provided for the
currently-approved ICR. The subject matter experts
at the FDIC do not believe this estimate needs to
be updated for this renewal.

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oversee AMCs.2 The 2015 ICR estimate
of the hour burden per state without a
registration system was 40 hours. The
FDIC does not believe this estimate
needs to be updated for this renewal.
Therefore, the total hour burden is 200
hours: 5 states × 40 hours/state = 200
hours. Finally, the total hour burden is
divided among the four agencies such
that each agency is responsible for 50
burden hours.3
IC #3: AMC Reporting Requirements
(State and Federal AMCs). The burden
for AMC reporting requirements is
calculated by multiplying the number of
AMCs by the frequency of response then
by the burden per response. The burden
hours are then divided between the
FDIC, FRB, OCC, and FHFA at a ratio of
3:3:3:1.4 FDIC estimates there are
approximately 400 entities that provide
appraisal management services as
defined by section 323.9(d). Of these
400 entities, FDIC estimates
approximately 200 entities meet the
definition of an AMC as defined by
section 323.9(c).5
The frequency of response is
estimated as the number of states that
do not have an AMC registration
program in which the average AMC
operates.6 According to the Appraisal
Institute, Five (5) states do not have
AMC registration or oversight
programs.7 According to the Consumer
Financial Protection Bureau (CFPB), the
average AMC operates in 19.56 states.8
Therefore, the average AMC operates in
approximately 2 states that do not have
AMC registration systems: (5 states / 55
states) × 19.56 states = 1.778 states ∼ 2
states. Therefore the total hour burden
for IC #3 is 400 hours: 200 AMCs × 2
states (frequency) × 1 hour = 400 hours.
The burden hours are then divided such
that the FDIC, FRB, and OCC are each
responsible for 120 burden hours and
2 Appraisal Institute ‘‘Enacted State AMC Laws,’’
https://www.appraisalinstitute.org/advocacy/
enacted-state-amc-laws1/.
3 The assumption to divide the burden hours
between the agencies is based on a burden-sharing
agreement among the FDIC, FRB, OCC, and FHFA.
The burden hours are shared in the same ratio as
the 2015 ICR.
4 Id.
5 The FDIC anticipates more definitive
information will become available when AMC
registration requirements become effective on
August 10, 2018.
6 The number of states includes all U.S. states,
territories, and districts, to include the
Commonwealth of the Northern Mariana Islands,
the District of Columbia, Guam, Puerto Rico, and
the U.S. Virgin Islands.
7 Appraisal Institute ‘‘Enacted State AMC Laws,’’
https://www.appraisalinstitute.org/advocacy/
enacted-state-amc-laws1/ (accessed February 27,
2018).
8 The CFPB conducted a survey of 9 AMCs in
2013 regarding the provisions in the rule and the
related PRA burden.

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Federal Register / Vol. 83, No. 157 / Tuesday, August 14, 2018 / Notices

the FHFA is responsible for 40 burden
hours.9
IC #4: State Reporting Requirements
to the Appraisal Subcommittee. The
burden hours for State reporting to the
ASC are estimated by multiplying the
number of states by the hour burden per
state.10 Then the burden hours are
divided equally among the FDIC, FRB,
OCC, and the FHFA. The total burden
hour for state reporting is 50 hours: 55
states × 1 hour/state = 55 hours. This is
then equally divided across the 4
agencies for 14 burden hours each, with
rounding.11
Comments Received:
The FDIC received one comment
letter from an appraisal management
company trade association.
In response to the request for
comment on whether this collection of
information is necessary for the proper
performance of the functions of the
FDIC, including whether the
information has practical utility, the
commenter agreed that this collection of
information is necessary and has
practical utility but ‘‘only to the extent
that the information collected serves the
proper purpose to promote appraiser
independence while ensuring a healthy
real estate valuation market.’’ This
suggests that the commenter believes
that the ‘‘proper purpose’’ of the
collection is limited to the promotion to
appraiser independence. In response to
this comment, the FDIC notes that the
purpose of the AMC rule and the
collection is to implement all required
elements of the statute, not only
provisions that relate to appraiser
independence.12 The Agencies were
required to adopt regulations to
implement all the statutory
requirements and this collection of
information is a necessary and useful
component of such implementation.
In response to the request for
comment on the accuracy of FDIC’s
estimate of the information collection
burden, the commenter opines that the
FDIC’s estimate of the number of
entities that meet the definition of an
AMC under IC #3: (Reporting
9 See

footnote 9.
number of states includes all U.S. states,
territories, and districts, to include the
Commonwealth of the Northern Mariana Islands,
the District of Columbia, Guam, Puerto Rico, and
the U.S. Virgin Islands. The burden estimate of one
hour per report is unchanged from the estimate
provided for the currently-approved ICR. The
subject matter experts at the FDIC do not believe
this estimate needs to be updated for this renewal.
11 See footnote 9.
12 See 12 U.S.C. 3353(a) (setting minimum
requirements for registration regulation in
participating states); id. section 3353(d) (setting
registration limitations for AMCs); and id. section
3353(e) (requiring reporting of information by
AMCs to the ASC).

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Requirements for State and Federal
AMCs) is too low. The commenter did
not offer an estimate of what the number
should be and appears to agree that, as
stated in footnote 5, the actual number
of affected AMCs will be known once
the AMC National Registry is fully
operational.
The commenter indicates that its
members believe that the estimate of the
annual burden to comply is also too
low. The commenter recommends that
the estimate be increased to twice the
current estimate. The commenter notes
that each state differs in complexity of
their demands for the collection of
information and not all are on the same
renewal schedule. Some renew annually
and some biennially, which have
varying burdens for preparation and
validation. The burden estimates for this
collection have historically been
prepared on an industry-wide basis and
then allotted to each agency. The FDIC
prepared the industry-wide estimates
for this renewal. We invite commenters
to review the analysis, which is
included in our supporting statement,
and comment during the 30-day
comment period.
In response to the request for
comment on ways to enhance the
quality, utility, and clarity of the
information to be collected, the
commenter suggested that the ASC
should issue additional guidance to
states and AMCs concerning the AMC
minimum requirements. The goal of
such guidance would be to ‘‘provide
consistency in the implementation of
the regulations and information
required.’’
The commenter also expressed
concern that wide variation of AMC
requirements from state to state may
have material unintended consequences
on lending activity in a particular
jurisdiction. The commenter’s
suggestions do not relate to the
information collection. In addition,
while Title XI and the AMC rule set
minimum standards for the registration
and supervision of AMCs by states, Title
XI and the AMC rule expressly provide
that a state may adopt requirements in
addition to those contained in the AMC
regulation. 12 U.S.C. 3353(b); 12 CFR
34.210(d). The FDIC will, however, refer
these suggestions to the ASC for
consideration.
In response to the request for
comments on ways to minimize the
burden of the collection on respondents,
including through the use of automated
collection techniques or other forms of
information technology, the commenter
recommends that the ASC find
opportunities to develop reporting
efficiencies in the licensing system,

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which could include partnering with
the Nationwide Multistate Licensing
System (NMLS) or investing in a new
process. Furthermore, the commenter
believes the ASC should be more
aggressive in supporting modernization
of the outdated National Appraiser
Registry (which AMCs must use to
comply with the minimum
requirements). FDIC notes that the
commenter’s suggestions do not relate to
the information collection. The FDIC
will, however, refer these suggestions to
the ASC for consideration.
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 August 8,
2018.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2018–17377 Filed 8–13–18; 8:45 am]
BILLING CODE 6714–01–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 (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 the
notices are set forth in paragraph 7 of
the Act (12 U.S.C. 1817(j)(7)).
The notices are available for
immediate inspection at the Federal
Reserve Bank indicated. The notices
also will be available for inspection at
the offices of the Board of Governors.
Interested persons may express their
views in writing to the Reserve Bank
indicated for that notice or to the offices
of the Board of Governors. Comments
must be received not later than August
29, 2018.

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