Notice2023-12116
Renewal of Agency Information Collections for Comments Request: Proposed Collections
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
June 7, 2023
Issuing agencies
National Credit Union Administration
Abstract
The National Credit Union Administration (NCUA) will submit the following information collection 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.
Full Text
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<title>Federal Register, Volume 88 Issue 109 (Wednesday, June 7, 2023)</title>
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[Federal Register Volume 88, Number 109 (Wednesday, June 7, 2023)]
[Notices]
[Page 37290]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-12116]
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NATIONAL CREDIT UNION ADMINISTRATION
Renewal of Agency Information Collections for Comments Request:
Proposed Collections
AGENCY: National Credit Union Administration (NCUA).
ACTION: Notice and request for comments.
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SUMMARY: The National Credit Union Administration (NCUA) will submit
the following information collection 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.
DATES: Written comments should be received on or before August 7, 2023
to be assured consideration.
ADDRESSES: Interested persons are invited to submit written comments on
the information collection to Mahala Vixamar, National Credit Union
Administration, 1775 Duke Street, Alexandria, Virginia 22314, Suite
5067; Fax No. 703-519-8579; or Email at <a href="/cdn-cgi/l/email-protection#d686849795b9bbbbb3b8a2a59698958397f8b1b9a0"><span class="__cf_email__" data-cfemail="97c7c5d6d4f8fafaf2f9e3e4d7d9d4c2d6b9f0f8e1">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: Copies of the submission may be
obtained by contacting Mahala Vixamar at (703) 518-6540, emailing
<a href="/cdn-cgi/l/email-protection" class="__cf_email__" data-cfemail="1646445755797b7b73786265567875637738717960">[email protected]</a>, or viewing the entire information collection
request at <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
OMB Number: 3133-0134.
Title: Account Based Disclosures in Connection with 12 CFR part 707
(Truth in Savings).
Type of Review: Extension of a previously approved collection.
Abstract: NCUA's TISA regulation requires credit unions to provide
specific disclosures when an account is opened, when a disclosed term
changes or a term account is close to renewal, on periodic statements
of account activity, in advertisements, and upon a member's or
potential member's request. Credit unions that provide periodic
statements are required to include information about fees imposed, the
annual percentage yield earned during those statement periods, and
other account terms. The requirements for creating and disseminating
account disclosures, change in terms notices, term share renewal
notices, statement disclosures, and advertising disclosures are
necessary to implement TISA's purpose of providing the public with
information that will permit informed comparisons of accounts at
depository institutions.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Total Annual Burden Hours: 373,870.
OMB Number: 3133-0154.
Type of Review: Extension of a previously approved collection.
Title: Prompt Corrective Action, 12 CFR 702 (Subparts A-D).
Abstract: Section 216 of the Federal Credit Union Act mandates
prompt corrective action (PCA) requirements for federally insured
credit unions (FICUs) that become less than well capitalized. Section
216 requires the NCUA Board to (1) adopt, by regulation, a system of
prompt corrective action to restore the net worth of inadequately
capitalized FICUs and (2) develop an alternative system of prompt
corrective action for new credit unions that carries out the purpose of
PCA while allowing an FICU reasonable time to build its net worth to an
adequately capitalized level. The purpose of PCA is to resolve the
problems of FICUs at the least possible long-term loss to the National
Credit Union Share Insurance Fund (NCUSIF).
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Total Annual Burden Hours: 569.
OMB Number: 3133-0166.
Type of Review: Extension of a previously approved collection.
Title: Home Mortgage Disclosure Act (HMDA), 12 CFR 1003 (Regulation
C).
Abstract: The collection of this data is required under the Home
Mortgage Disclosure Act. The information collection is intended to
provide the public with loan data that can be used to help determine
whether financial institutions are serving the housing needs of their
communities; to assist public officials in distributing public-sector
investments so as to attract private investment to areas where it is
needed; and to assist in identifying possible discriminatory lending
patterns and enforcing anti-discrimination statutes.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Total Annual Burden Hours: 108,175.
OMB Number: 3133-0167.
Type of Review: Extension of a previously approved collection.
Title: Foreign Branching, 12 CFR 741.11.
Abstract: This collection covers the additional information a
credit union must provide to establish a branch office outside the
United States (except for U.S. embassies and military installations).
The application must include (1) a business plan, (2) written approval
by the state supervisory agency if the applicant is a state-chartered
credit union, and (3) documentation evidencing written permission from
the host country to establish the branch that explicitly recognizes
NCUA's authority to examine and take any enforcement actions, including
conservatorship and liquidation actions.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Total Annual Burden Hours: 33.
Request for Comments: Comments submitted in response to this notice
will be summarized and included in the request for Office of Management
and Budget approval. All comments will become a matter of public
record. The public is invited to submit comments concerning: (a)
whether the collection of information is necessary for the proper
performance of the function of the agency, including whether the
information will have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information,
including the validity of the methodology and assumptions used; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; and (d) ways to minimize the burden of the collection of
the information on the respondents, including the use of automated
collection techniques or other forms of information technology.
By the National Credit Union Administration Board.
Melane Conyers-Ausbrooks,
Secretary of the Board.
[FR Doc. 2023-12116 Filed 6-6-23; 8:45 am]
BILLING CODE 7535-01-P
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