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DEPARTMENT OF TRANSPORTATION By the Board, David M. Konschnik, change to the regulation or the
Director, Office of Proceedings. information collection. The OCC
Surface Transportation Board Vernon A. Williams, requests only that OMB renew its
Secretary. approval of the information collection.
[STB Finance Docket No. 34689] [FR Doc. 05–11733 Filed 6–14–05; 8:45 am] The regulation requires national
BILLING CODE 4915–01–P
banks to disclose information about a
Florida Northern Railroad Company, Debt Cancellation Contract (DCC) or
Inc.—Lease Exemption—Line of CSX Debt Suspension Agreement (DSA). The
Transportation, Inc. DEPARTMENT OF THE TREASURY short form disclosure is usually made
orally and is issued at the time the bank
Florida Northern Railroad Company, Office of the Comptroller of the first solicits the purchase of a contract.
Inc. (FNOR), a Class III rail carrier, has Currency The long form disclosure is usually
filed a verified notice of exemption made in writing and is issued before the
under 49 CFR 1150.41 to lease and Proposed Information Collection; customer completes the purchase of the
operate, pursuant to an agreement 1 Comment Request contract. There are special rules for
entered into with CSX Transportation, transactions by telephone, solicitations
Inc. (CSXT), CSXT’s line of railroad (the AGENCY: Office of the Comptroller of the using written mail inserts or ‘‘take one’’
Newberry Line) extending from Currency (OCC), Treasury. applications, and electronic
milepost AR 716.88 at High Springs, FL, ACTION: Notice and request for comment. transactions. Part 37 provides two forms
through Newberry, FL, to milepost AR of disclosure that serve as models for
777.76 at Dunnellon, FL, and from SUMMARY: The OCC, as part of its
satisfying the requirements of the rule.
milepost ARD 777.36 at Dunnellon 2 to continuing effort to reduce paperwork
Use of the forms is not mandatory. A
milepost ARD 785.71 at Citronelle, FL. and respondent burden, invites the
bank may adjust the form and wording
FNOR also will lease and operate a short general public and other Federal
of its disclosures so long as the
segment of connecting CSXT track at agencies to take this opportunity to
requirements of the regulation are met.
Newberry, extending from milepost SN comment on a continuing information 12 U.S.C. 24 (Seventh) authorizes
717.22 to milepost SN 718.73. The total collection, as required by the Paperwork national banks to enter into DCCs and
distance of rail line to be leased and Reduction Act of 1995. Currently, the DSAs. The requirements of part 37
operated by FNOR is approximately OCC is soliciting comment concerning enhance consumer protections for
70.74 miles. its extension, without change, of an customers who buy DCCs and DSAs
information collection titled ‘‘Debt from national banks and ensure that
Based on projected revenues for the
Cancellation Contracts and Debt national banks do so on a safe and
Newberry Line, FNOR expects to remain
Suspension Agreements ‘‘12 CFR 37.’’ sound basis by requiring them to
a Class III rail carrier after
consummation of the proposed DATES: You should submit written effectively manage their risk exposure.
transaction. It certifies that the projected comments by: August 15, 2005.
Section 37.6
annual operating revenue of FNOR does ADDRESSES: You should direct all
not exceed $5 million. written comments to the Section 37.6 requires a bank to
The transaction was scheduled to be Communications Division, Attention: provide the following disclosures, as
consummated on or shortly after May 1557–0224, Third Floor, Office of the appropriate:
Comptroller of the Currency, 250 E • Anti-tying—A bank must inform the
27, 2005, the effective date of the
Street, SW. Washington, DC 20219. In customer that neither its decision
exemption (7 days after the exemption
addition, comments may be sent by whether to approve a loan nor the terms
was filed).
facsimile transmission to (202)874– and conditions of the loan are
If the verified notice contains false or conditioned on the purchase of a DCC
misleading information, the exemption 4448, or by electronic mail to
regs.comments@occ.treas.gov. or DSA.
is void ab initio. Petitions to revoke the • Explanation of debt suspension
exemption under 49 U.S.C. 10502(d) FOR FURTHER INFORMATION CONTACT: You agreement—A bank must disclose that if
may be filed at any time. The filing of can request additional information or a a customer activates the agreement, the
a petition to revoke will not copy of the collection from Mary customer’s duty to pay the loan
automatically stay the transaction. Gottlieb or Camille Dixon, (202) 874– principal and interest is only suspended
An original and 10 copies of all 5090, Legislative and Regulatory and the customer must fully repay the
pleadings, referring to STB Finance Activities Division (1557–0202), Office loan after the period of suspension has
Docket No. 34689, must be filed with of the Comptroller of the Currency, 250 expired.
the Surface Transportation Board, 1925 E Street, SW., Washington, DC 20219. • Amount of the fee—A bank must
K Street, NW., Washington, DC 20423– You can inspect and photocopy the make disclosures regarding the amount
0001. In addition, a copy of each comments at the OCC’s Public Reference of the fee. The disclosure must differ
pleading must be served on William C. Room, 250 E Street, SW., Washington, depending on whether the credit is
Sippel, Fletcher & Sippel LLC, 29 North DC, between 9 a.m. and 5 p.m. on open-end or closed-end. In the case of
Wacker Drive, Suite 920, Chicago, IL business days. You can make an closed-end credit, the bank must
60606–2832. appointment to inspect the comments disclose the total fee. In the case of
Board decisions and notices are by calling (202) 874–5043. open-end credit, the bank must either
available on our Web site at http:// SUPPLEMENTARY INFORMATION: The OCC disclose that the periodic fee is based on
www.stb.dot.gov. is proposing to extend OMB approval of the account balance multiplied by a unit
Decided: June 7, 2005. the following information collection: cost and provide the unit cost, or
Title: Debt Cancellation Contracts and disclose the formula used to compute
1 FNOR indicated that FNOR and CSXT expect to
Debt Suspension Agreements. the fee.
execute a Land and Track Lease Agreement shortly. OMB Number: 1557–0224. • Lump sum payment of fee—A bank
2 Milepost AR 777.76 and milepost ARD 777.36 Description: This submission covers must disclose, where appropriate, that a
designate the same location at Dunnellon. an existing regulation and involves no customer has the option to pay the fee
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34816 Federal Register / Vol. 70, No. 114 / Wednesday, June 15, 2005 / Notices
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