The Change in Bank Control Act requires that any person proposing to acquire ownership control of an insured state nonmember bank provide prior written notice to the FDIC.
US Code:
12 USC 1817(j)
Name of Law: Federal Deposit Insurance Act
The change (+540) in the estimate of annual burden is due to a change in the number of Notices processed. The average number of Interagency Notice(s) of Change in Control increased from 27 to the current 45.
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:
(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;
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.