Notice2023-19598
Revisions of Agency Information Collection of a Previously Approved Collection; Request for Comments
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
September 12, 2023
Issuing agencies
National Credit Union Administration
Abstract
As required by the Paperwork Reduction Act of 1995, The National Credit Union Administration (NCUA) is submitting the following extensions and revisions of currently approved collections to the Office of Management and Budget (OMB) for renewal.
Full Text
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<title>Federal Register, Volume 88 Issue 175 (Tuesday, September 12, 2023)</title>
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[Federal Register Volume 88, Number 175 (Tuesday, September 12, 2023)]
[Notices]
[Pages 62606-62607]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-19598]
[[Page 62606]]
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NATIONAL CREDIT UNION ADMINISTRATION
Revisions of Agency Information Collection of a Previously
Approved Collection; Request for Comments
AGENCY: National Credit Union Administration (NCUA).
ACTION: Notice of submission to the Office of Management and Budget.
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SUMMARY: As required by the Paperwork Reduction Act of 1995, The
National Credit Union Administration (NCUA) is submitting the following
extensions and revisions of currently approved collections to the
Office of Management and Budget (OMB) for renewal.
DATES: Written comments should be received on or before October 12,
2023 to be assured 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 submission may be
obtained by contacting Mahala Vixamar at (703) 718-1155, emailing
<a href="/cdn-cgi/l/email-protection#dc8c8e9d9fb3b1b1b9b2a8af9cb2bfa9bdf2bbb3aa"><span class="__cf_email__" data-cfemail="b8e8eaf9fbd7d5d5ddd6cccbf8d6dbcdd996dfd7ce">[email protected]</span></a>, or viewing the entire information collection
request at <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
OMB Number: 3133-0098.
Title: Advertising of Excess Insurance, 12 CFR 740.3.
Type of Review: Extension of a previously approved collection.
Abstract: Federally insured credit unions which offer or provide
excess insurance coverage for their accounts must indicate the type and
amount of such insurance, the name of the carrier and a statement that
the carrier is not affiliated with the NCUSIF or the Federal government
in all advertising that mentions account insurance.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Number of Respondents: 297.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 297.
Estimated Hours per Response: 1.
Estimated Total Annual Burden Hours: 297.
Reason for Change: Minor adjustments are attributed to current
updated data since the last previous submission.
OMB Number: 3133-0108.
Title: Monitoring Bank Secrecy Act Compliance.
Type of Review: Revision of a currently approved collection.
Abstract: The collection is needed to allow NCUA to determine
whether credit unions have established a program reasonably designed to
assure and monitor their compliance with current recordkeeping
requirements established by Federal statute and Department of the
Treasury regulation.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Number of Respondents: 4,686.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 4,686.
Estimated Hours per Response: 16.
Estimated Total Annual Burden Hours: 74,976.
Reason for Change: Burden decreased due to the number of
respondents decreasing.
OMB Number: 3133-0117.
Title: Designation of Low Income Status, 12 CFR 701.34(a).
Type of Review: Revision of a currently approved collection.
Abstract: The Federal Credit Union Act (12 U.S.C. 1752(5))
authorizes the NCUA Board to define low-income members so that credit
unions with a membership serving predominantly low-income members can
benefit from certain statutory relief and receive assistance from the
Community Development Revolving Loan Fund (CDRLF). Under the authority
of 12 CFR 701.34(a), NCUA must obtain certain data to determine if a
credit union qualifies for the designation. NCUA uses the information
from credit unions to determine whether they meet the criteria for the
low-income designation.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Number of Respondents: 227.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 227.
Estimated Hours per Response: 1.57.
Estimated Total Annual Burden Hours: 356.
Reason for Change: Burden decreased due to the number of
respondents decreasing.
OMB Number: 3133-0130.
Title: Written Reimbursement Policy, 12 CFR 701.33.
Type of Review: Revision of a currently approved collection.
Abstract: Each Federal Credit Union (FCU) must draft a written
reimbursement policy to ensure that the FCU makes payments to its
directors within the guidelines that the FCU has established in advance
and to enable examiners to easily verify compliance by comparing the
policy to the actual reimbursements.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Number of Respondents: 2,931.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 2,931.
Estimated Hours per Response: 0.50.
Estimated Total Annual Burden Hours: 1,465.5.
Reason for Change: Burden decreased due to the number of
respondents decreasing.
OMB Number: 3133-0154.
Title: Prompt Corrective Action, 12 CFR 702 (Subparts A-D).
Type of Review: Revision of a currently approved collection.
Abstract: Section 216 of the Federal Credit Union Act (12 U.S.C.
1790d) mandates prompt corrective action requirements for federally
insured credit unions (FICUs) that become less than well capitalized.
The NCUA Board is required 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
prompt corrective actions while allowing an FICU reasonable time to
build its net worth to an adequately capitalized level. Part 702
implements the statutory requirements and, to achieve this, various
information collections to meet the purpose of prompt corrective action
as circumstances require.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Number of Respondents: 86.
Estimated Number of Responses per Respondent: 1.825.
Estimated Total Annual Responses: 157.
Estimated Hours per Response: 15.497.
Estimated Total Annual Burden Hours: 2,433.
Reason for Change: Burden increased due to the number of hours per
response increasing.
OMB Number: 3133-0203.
Title: IRPS 19-1, Exceptions to Employment Restrictions Under
Section 205(d) of the Federal Credit Union Act.
Type of Review: Revision of a currently approved collection.
Abstract: This information collection is required under Section
205(d) of the
[[Page 62607]]
Federal Credit Union Act (FCU Act) to allow the National Credit Union
Administration (NCUA) Board to make an informed decision whether to
grant a waiver of the prohibition imposed by law under Section 205(d)
of the FCU Act. Section 205(d) of the FCU Act prohibits a person who
has been convicted of any criminal offense involving dishonesty or
breach of trust, or who has entered into a pretrial diversion or
similar program in connection with a prosecution for such offense, from
participating in the affairs of a federally-insured credit union except
with the prior written consent of the NCUA Board. The Interpretive
Ruling and Policy Statement (IRPS) 19-1 prescribes the information
collection contained therein, implement the requirements of the FCU
Act.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Number of Respondents: 4.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 4.
Estimated Hours per Response: 0.75.
Estimated Total Annual Burden Hours: 3.
OMB Number: 3133-0204.
Title: NCUA Profile.
Type of Review: Revision of a currently approved collection.
Abstract: Sections 106 and 202 of the Federal Credit Union Act
require federally insured credit unions to make financial reports to
the NCUA. Section 741.6 requires insured credit unions to submit a
Credit Union Profile (NCUA Form 4501A) and update the Profile within 10
days of election or appointment of senior management or volunteer
officials or 30 days of other changes in Program information. The NCUA
website further directs credit unions to review and certify their
Profiles every Call Report cycle. Credit union information collected
through the Profile is essential to the NCUA supervision of federal
credit unions and also facilitates the NCUA monitoring of other credit
unions with share accounts insured by the National Credit Union Share
Insurance Fund (NCUSIF).
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Number of Respondents: 4,712.
Estimated Number of Responses per Respondent: 4.
Estimated Total Annual Responses: 18,848.
Estimated Hours per Response: 2.
Estimated Total Annual Burden Hours: 37,696.
Reason for Change: Burden decreased due to the number of
respondents decreasing.
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. 2023-19598 Filed 9-11-23; 8:45 am]
BILLING CODE 7535-01-P
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