Notice2022-27142
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Annual Certification and Data Collection Report Form and the Abbreviated Transaction Level Report
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 14, 2022
Issuing agencies
Treasury Department
Abstract
The Department of the Treasury will submit the following information requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Full Text
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<title>Federal Register, Volume 87 Issue 239 (Wednesday, December 14, 2022)</title>
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[Federal Register Volume 87, Number 239 (Wednesday, December 14, 2022)]
[Notices]
[Pages 76541-76542]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-27142]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Annual Certification and Data Collection
Report Form and the Abbreviated Transaction Level Report
AGENCY: Departmental Offices, Department of the Treasury.
ACTION: Notice of information collection; request for comment.
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SUMMARY: The Department of the Treasury will submit the following
information requests to the Office of Management and Budget (OMB) for
review and clearance in accordance with the Paperwork Reduction Act of
1995, on or after the date of publication of this notice. The public is
invited to submit comments on these requests.
DATES: Comments should be received on or before January 13, 2023 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Melody Braswell by emailing <a href="/cdn-cgi/l/email-protection#dd8d8f9c9da9afb8bcaea8afa4f3bab2ab"><span class="__cf_email__" data-cfemail="1d4d4f5c5d696f787c6e686f64337a726b">[email protected]</span></a>, calling
(202) 622-1035, or viewing the entire information collection request at
<a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
CDFI Fund
Title: Annual Certification and Data Collection Report Form and the
abbreviated Transaction Level Report.
OMB Control Number: 1559-0046.
Type of Review: Revision of a currently approved collection.
Description: A Certified Community Development Financial
Institution (CDFI) is a specialized financial institution that works in
markets that are underserved by traditional financial institutions and
provide a range of Financial Products and Financial Services in
economically distressed Target Markets. CDFIs include regulated
institutions such as community development banks and credit unions, and
non-regulated institutions such as loan and venture capital funds. CDFI
Certification is a designation conferred by the Community Development
Financial Institutions Fund (CDFI Fund) and is a requirement for
accessing various CDFI Fund programs. A financial institution seeking
to become a Certified CDFI and qualify to apply for assistance from the
CDFI Fund must complete the CDFI Certification Application (OMB Control
Number 1559-0028). CDFI Certification and the Annual Certification and
Data Collection Report (ACR) are requirements of Certified CDFIs. The
Transaction Level Report (TLR) is a requirement of CDFIs that receive
Financial Assistance (FA) awards from the CDFI Fund.
The CDFI Fund is authorized by the Riegle Community Development
Banking and Financial Institutions Act of 1994 (Pub. L. 103-325, 12
U.S.C. 4701 et seq.) (the Act). The regulations governing CDFI
Certification are found at 12 CFR. 1805.201 (the Regulations). The
significance of CDFI Certification has increased over the years, as the
CDFI Certification status has come to serve as a qualifier for other
federal government and private sector resources and benefits. Beginning
in January 2017, through the issuance of a Request for Information, the
CDFI Fund sought to review and update the CDFI Certification policies
and procedures to ensure they continue to meet the statutory and
regulatory requirements,
[[Page 76542]]
are responsive to the evolving nature of the CDFI industry, and protect
government resources. In May 2020, the CDFI Fund requested public
comment on proposed revisions to the CDFI Certification Application
(Application) and reporting requirements for Certified CDFIs, including
the introduction of the Certification Transaction Level Report (CTLR).
As a result of comments received during that public comment period, the
CDFI Fund made additional revisions to the existing ACR, the new CTLR
and proposed Certification Application.
The revised ACR, new CTLR, certification policies, and Application
attempt both to provide the flexibility necessary for CDFIs to grow and
to serve the hardest to reach distressed communities, and to maintain
the integrity of what it means to be a Certified CDFI from a mission
perspective. In addition, where existing policy was considered
appropriate, changes were made to the Application and guidance to
provide greater transparency and clarity around the criteria that
entities must meet to obtain and maintain CDFI Certification.
Form: Annual Certification and Data Collection Report.
Affected Public: Certified CDFIs.
Estimated Number of ACR Respondents: 1,460.
Estimated Annual Time per ACR Respondent: 14 hours.
Estimated Total ACR Annual Burden Hours: 20,440 hours.
Form: abbreviated Transaction Level Report.
Affected Public: Non-Financial Assistance Certified CDFIs seeking
Recertification (597) and new Certification Applicants (150).
Estimated Number of abbreviated TLR Respondents: 747.
Estimated Annual Time per abbreviated TLR Respondent: 10 hours.
Estimated Total abbreviated TLR Annual Burden Hours: 7,470 hours.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2022-27142 Filed 12-13-22; 8:45 am]
BILLING CODE 4810-70-P
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