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[Federal Register: July 19, 2002 (Volume 67, Number 139)]
[Notices]               
[Page 47629-47630]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr19jy02-142]                         

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DEPARTMENT OF THE TREASURY

 
Office of the Assistant Secretary (Financial Institutions); 
Proposed Renewal of Information Collection; Comment Request

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury's (``Treasury'') Office of the 
Assistant Secretary (Financial Institutions), which administers the 
First Accounts Grant Program, and 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 a 
continuing information collection, as required by the Paperwork 
Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). 
Currently, the Office of the Assistant Secretary (Financial 
Institutions) within Treasury is soliciting comment concerning its 
renewal of a collection of information titled, ``First Accounts Program 
Agreement for Grants.''

DATES: Written comments should be received on or before September 20, 
2002 to be assured of consideration.

ADDRESSES: Direct all written comments to either Department of the 
Treasury, ATTN: First Accounts, Main Treasury Building, Room 5017, 15th 
and Pennsylvania Avenue, NW, Washington, DC 20220 (Tel.: 202/622-0741) 
or <A HREF="mailto:first.accounts@do.treas.gov">first.accounts@do.treas.gov</A>.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
from or a copy of the collection from Jean Whaley, Director, Office of 
the Assistant Secretary (Financial Institutions), Department of the 
Treasury, Main Treasury Building, 15th and Pennsylvania Avenue, NW, 
Washington, DC 20220 (Tel.: 202/622-0741).

SUPPLEMENTARY INFORMATION:   
    Title: First Accounts Program Agreement for Grants.
    OMB Number: 1505-0188.
    Abstract: Treasury's Office of the Assistant Secretary (Financial 
Institutions) is collecting information under the terms of a Grant 
Agreement between Treasury and awardees of First Accounts grants. The 
paramount goal of the First Accounts grants is to move a maximum number 
of ``unbanked'' low- and moderate-income individuals to a ``banked'' 
status with either an insured credit union or an insured depository 
institution. The collection of information in the Grant Agreement is 
fivefold. First, it requires each awardee to submit to Treasury an 
opinion of awardee counsel addressing such commercially standard 
matters as the due authorization, execution, delivery and 
enforceability of the Grant Agreement. Second, it requires each awardee 
to submit to Treasury quarterly reports addressing the awardee's 
financial and project performance. Third, it requires each awardee to 
submit to Treasury a final financial and performance report after the 
expiration of the grant. Fourth, it requires each awardee to submit 
annually to Treasury audited financial statements. Fifth, it imposes 
specific record keeping requirements. The purpose of the collection of 
information is to ensure that the Grant Agreement constitutes a legally 
binding obligation of each awardee and to monitor awardee compliance, 
performance, and financial soundness. The purpose of the record keeping 
requirements is to ensure both the effective and efficient use of the 
grant consistent with sound business practices, and the ability to 
audit the use of the grant consistent with the Grant Agreement.

[[Page 47630]]

    Current Actions: Extension.
    Type of Review: Extension.
    Affected Public: For-profit institutions, not-for-profit 
institutions, and Local Governments.
    Estimated Number of Respondents: 15.
    Estimated Total Annual Responses: 90-105.
    Frequency of Responses: This varies, depending on the specific 
reporting requirements, but consists of quarterly, annual and on 
occasion reporting requirements.
    Estimated Total Annual Burden Hours: 555 hours.

Requests for Comments

    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval. All comments will 
become a matter of public record. Comments are invited on: (a) Whether 
the collection of information is necessary, including whether the 
information has practical utility; (b) the accuracy of the estimate of 
the burden of the collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information to be collected; (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; and (e) estimates 
of capital or start-up costs and costs of operation, maintenance, and 
purchase of services to provide information.

    Dated: July 11, 2002.
Jean Whaley,
Director, Office of the Assistant Secretary (Financial Institutions).
[FR Doc. 02-18248 Filed 7-18-02; 8:45 am]
BILLING CODE 4810-25-P

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