FDIC Federal Register Citations
[Federal Register: August 16, 2006 (Volume 71, Number 158)]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to comment on a proposed new one-time collection of
information, as required by the Paperwork Reduction Act of 1995 (44
U.S.C. chapter 35). The collection would provide information on the
features and effects of overdraft protection programs in state
nonmember financial institutions.
DATES: Comments must be submitted on or before October 16, 2006.
ADDRESSES: Interested parties are invited to submit written comments by
mail to Steve Hanft, Legal Division, Federal Deposit Insurance
Corporation, 550 17th Street, NW., Washington, DC 20429; by FAX to Mr.
Hanft at (202) 898-3838; or by e-mail to
comments should refer to ``Study of Overdraft Protection Programs.''
Copies of 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
FOR FURTHER INFORMATION CONTACT: Steve Hanft, (202) 898-3907, or at the
Proposal to undertake the following new collection of information:
Title: Study of Overdraft Protection Programs.
OMB Number: New collection.
Frequency of Response: One-time.
Affected Public: State nonmember financial institutions and data
Estimated Number of Respondents: 500.
Estimated Time per Response: Survey questions: approximate average
of 3 hours per respondent. Micro-data collection: approximate average
of 40 hours per respondent.
Estimated Total Annual Burden:
Survey questions: 500 respondents times 3 hours per = 1,500 hours.
Micro-data collection: 100 respondents (financial institutions
and/or service providers) times 40 hours per = 4,000 hours.
Total burden = 1,500 + 4,000 = 5,500 hours.
General Description of Collection: The FDIC is planning a study of
the overdraft protection products offered by financial institutions and
the usage patterns among depositors in those institutions. The study
requires collection of data from financial institutions that are not
currently included in the Call Reports or other standard periodic
regulatory reports. These data will be collected in two parts: a survey
in which a sample of 500 state-chartered nonmember financial
institutions will, we anticipate, be asked up to 85 questions about
each type of overdraft policy that they implement, and an additional
micro-data collection in which more detailed information will be
collected from 100 of these institutions. To minimize burden on
respondents, FDIC will use automated data collection techniques
wherever possible. The study conforms to privacy rules and will not
request any information that could be used to identify individual bank
customers, such as name, address, or account number. All data from, and
identities of, the financial institutions will remain confidential. It
is the intent of the FDIC to publish only general findings of the
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;
(c) ways to enhance the quality, utility, and clarity of the
information to be collected; and (d) ways to minimize the burden of the
information collection on respondents, including through the use of
automated collection techniques or other forms of information
The FDIC will consider all comments to determine the extent to
which the proposed information collection should be modified prior to
submission to OMB for review and approval. After the comment period
closes, comments will be summarized or included in the FDIC's request
to OMB for approval of the collection. All comments will become a
matter of public record.
Dated at Washington, DC, this 10th day of August, 2006.