The Office of the Comptroller of the Currency (OCC) is seeking public comments on the renewal of the "Fair Housing Home Loan Data System Regulation" information collection. This request is part of the agency's effort to reduce paperwork and respondent burden, in accordance with the Paperwork Reduction Act. The regulation requires certain national banks to collect and maintain specific data on home loans, especially if they receive over 50 home loan applications annually. The OCC is asking for feedback on whether the information collections are necessary, how to reduce the burden on respondents, and any start-up or ongoing costs associated with providing the information.
Simple Explanation
The government wants to know what people think about a rule that helps them keep track of who is asking for home loans. They are trying to see if they can make the rule simpler and less work for banks.