Notice2024-16460
Proposed Agency Information Collection Activities; Comment Request
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
July 26, 2024
Issuing agencies
National Credit Union Administration
Abstract
The NCUA has approved the publication of a proposal to revise and extend for three years the Credit Union Profile (Form 4501A), which is a currently approved information collection, for public comment. The NCUA is submitting the following extension and revision of the currently approved information collection to the OMB for review and clearance. The revisions are proposed to take effect with the December 31, 2024 report date.
Full Text
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<title>Federal Register, Volume 89 Issue 144 (Friday, July 26, 2024)</title>
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[Federal Register Volume 89, Number 144 (Friday, July 26, 2024)]
[Notices]
[Pages 60662-60664]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-16460]
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NATIONAL CREDIT UNION ADMINISTRATION
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: National Credit Union Administration (NCUA).
ACTION: Notice and request for comment.
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SUMMARY: The NCUA has approved the publication of a proposal to revise
and extend for three years the Credit Union Profile (Form 4501A), which
is a currently approved information collection, for public comment. The
NCUA is submitting the following extension and revision of the
currently approved information collection to the OMB for review and
clearance. The revisions are proposed to take effect with the December
31, 2024 report date.
DATES: Comments must be received on or before September 24, 2024.
ADDRESSES: You may submit written comments on the information
collection by any of the following methods:
Federal Register Portal: <a href="https://www.federalregister.gov">https://www.federalregister.gov</a>. Find this
information collection by searching for ``National Credit Union
Administration'', then selecting ``Past 90 days'', and scrolling
through the list of documents.
Office of Information and Regulatory Affairs: <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>. Find this information collection by
selecting National Credit Union Administration in the ``Currently under
Review'' area. Scroll until you see the Title ``Form 4501A Credit Union
Profile'', then click on ``Comment''. For assistance in navigating
<a href="http://www.reginfo.gov">www.reginfo.gov</a>, please contact the Regulatory Information Service
Center at (202) 482-7340.
<a href="http://Regulations.gov">Regulations.gov</a>: <a href="https://www.regulations.gov/search?filter=ncua">https://www.regulations.gov/search?filter=ncua</a>.
Find this information collection by scrolling through the search
results and looking for Profile Form 2024-Q4.
Rulemakings and Proposals for Comment: <a href="https://ncua.gov/regulation-supervision/rulemakings-proposals-comment">https://ncua.gov/regulation-supervision/rulemakings-proposals-comment</a>. NCUA will post a link to the
regulations.gov web page where you can submit a comment by selecting
Comment.
Mail: 1775 Duke Street, Suite 5067, Alexandria, Virginia 22314.
Fax: 703-519-8161.
Email: <a href="/cdn-cgi/l/email-protection#edbdbfacae8280808883999eada3aeb8acc38a829b"><span class="__cf_email__" data-cfemail="96c6c4d7d5f9fbfbf3f8e2e5d6d8d5c3d7b8f1f9e0">[email protected]</span></a>.
Instructions: All submissions must be identified by the OMB Control
Number 3133-0204 or by Document Number (Please send comments by one
method only).
FOR FURTHER INFORMATION CONTACT: Copies of the submission may be
obtained by contacting Dacia Rogers at (703) 718-1155. You may also
view the entire information collection request at <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Enhanced content is also available from the Notice on the Federal
Register website (<a href="http://www.federalregister.gov">www.federalregister.gov</a>). In addition, copies of the
Profile Form and Instructions can be obtained at the NCUA's website
(<a href="https://ncua.gov/regulation-supervision/regulatory-reporting/cuonline">https://ncua.gov/regulation-supervision/regulatory-reporting/cuonline</a>).
SUPPLEMENTARY INFORMATION: The NCUA proposes to extend for three years,
with revision, the NCUA Form 4501A Credit Union Profile.
OMB Number: 3133-0204.
Title: NCUA Form 4501A Credit Union Profile.
Type of Review: Revision and extension of a currently approved
collection.
Abstract: Sections 106 and 202 of the Federal Credit Union Act
require federally insured credit unions (FICUs) to make financial and
other reports to the NCUA. Section 741.6(a)(1) of the NCUA regulations
requires all FICUs to submit a Profile within 10 days after an election
or appointment of senior management or volunteer officials or within 30
days of any change of the information in the Profile. Operational
information reported on the Profile is essential to NCUA's supervision
of federal credit unions. This information also facilitates 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.
Respondents: All federally insured credit unions.
Estimated Number of Respondents: 4,572.
[[Page 60663]]
Estimated Average Burden per Response: 2.0 hours.
Estimated Total Annual Burden Hours: 36,576.
Reason for Change: The number of respondents decreased.
The proposed revisions to the Form 4501A instructions in this
notice would not have a material impact on the existing burden
estimates.
Legal Basis and Need for Collections: The Profile information
collections are mandatory under 12 U.S.C. 1756, 1766, and 1782. Except
for select sensitive items, the Profile Form 4501A is not given
confidential treatment.
Credit union data reported on the Profile is essential to the NCUA
supervision and regulation of federal credit unions. This information
also facilitates the NCUA monitoring of other credit unions with share
accounts insured by the National Credit Union Share Insurance Fund.
Credit unions submit Profile data to the NCUA at least quarterly.
Profile data serve a regulatory or public policy purpose by assisting
the NCUA in fulfilling its mission of ensuring the safety and soundness
of individual credit unions and the credit union system, protecting
consumer financial rights, as well as agency-specific missions
affecting federal and state-chartered credit unions, such as ensuring
financial stability and administering share insurance.
Form 4501A Credit Union Profile--Proposed Changes
General Information tab:
(1) Adding the name of the credit union's automated anti-money
laundering (AML) monitoring system to enhance NCUA's ability to
evaluate a credit union's Bank Secrecy Act/AML program.
(2) Separating the question relating to the credit union's field of
membership from the Minority Depository Institution question relating
to current members. The Interpretive Ruling and Policy Statement that
establishes the criteria for a credit union to be considered a Minority
Depository Institution was revised in March 2024.
Contacts & Roles tab:
(1) Adding an indicator for the email address that officials want
to use to receive confidential credit union correspondence.
(2) Adding ``or Audit'' everywhere the Supervisory Committee is
mentioned to allow for differences in terminology between federal
credit unions and federally insured state-chartered credit unions.
Sites tab:
(1) Adding an indicator for credit unions that operate exclusively
online and do not have a physical site for member services. Exclusively
online credit unions have not been available in the NCUA's Credit Union
Locator because they do not offer Public Site Functions at a physical
site. By indicating the credit union operates exclusively online, the
credit union's information will be available in the NCUA's Credit Union
Locator.
(2) Adding ``ITM'' to the Public Site Functions to allow credit
unions to report interactive teller machines, also known as ITMs. Also,
adding clarifying text to the form to indicate credit union location
information will be published in the NCUA's Credit Union Locator if at
least one public site function is selected.
Payment System Service Provider (PSSP) Information tab:
(1) Removed EPN as a data item.
(2) To enhance the NCUA's supervision of payment systems, adding:
a. An indicator for credit unions that process electronic payments
using SWIFT.
b. Adding the name of the ACH operator the credit union uses for
domestic ACH processing.
c. Adding indicators for reporting participation in, or planned
participation in, real-time payments or FedNow.
d. Adding the names of the agents and technology service providers
used if the credit union is participating, or plans to participate, in
real-time payments or FedNow. This will enable NCUA to know how the
credit union is managing funding, settlement, and liquidity functions
and if it is using a third-party technology service provider.
(3) Modifying the payment system service providers used by the
credit union to provide specific payment services. Removing two data
items. Adding seven payment services to the existing four payment
services provided by payment system service providers. Modifying this
question will expand the information reported and allow NCUA to focus
supervision on the areas with the greatest risk.
(4) Modifying the question about changing payment system service
providers within the next 12 months to 24 months and adding new payment
service(s) being added within the next 24 months. Adding new services
can lead to increased risk if not managed properly. Having information
about adding new payment services will enhance the NCUA's ability to
monitor risk.
(5) Modifying the question to collect the new payment system
service providers planned to be used by the credit union to provide new
payment services. Adding seven payment services to the existing four
payment services planned to be provided by the new payment system
service provider. Removing two data items. Adding new services can lead
to increased risk if not managed properly. Having information about new
payment services and payment service providers will enhance the NCUA's
ability to monitor risk.
(6) Adding an indicator for the credit union to report digitally-
or instant-issued cards at any credit union location to enhance NCUA's
supervision of payment systems.
(7) Adding indicators for credit unions to report owning or leasing
automated teller machines or interactive teller machines to enhance
NCUA's supervision of payment systems.
(8) Adding an indicator for the credit union to report originating
same-day ACH transactions to enhance NCUA's supervision of payment
systems.
(9) Removing two data elements for the credit union to indicate if
it performs domestic or international ACH transfers. These data
elements were incorporated into existing questions.
(10) Removing two data elements for the credit union to indicate if
it performs domestic or international wire transfers. These data
elements were incorporated into existing questions.
(11) Adding three types of methods a member can use to initiate
electronic payments due to the dynamic nature of payment systems.
Information Technology tab:
(1) Adding a question for credit unions to report the types of
digital banking services they offer. For each service offered, the
credit union will report the vendor and product name. Adding this
question will expand the information reported related to digital
services and allow NCUA to focus on the areas of greatest risk.
(2) Modifying the core applications question to add two new core
applications (general ledger and other) and separate the core
application vendor from the core application product name. Modifying
this question will expand the information reported related to core
applications and allow NCUA to focus on the areas of greatest risk.
(3) Adding a question for credit unions to report the Managed
Security Service Provider service(s) the credit union uses. The vendor
and product name will also be reported for the 24/7 network security
monitoring and security operations center.
[[Page 60664]]
Grants tab:
(1) Removing the Grants tab. Grants awarded and received year-to-
date are reported on the Call Report.
Merger Partner Registry tab:
(1) Adding a question for a Minority Depository Institution credit
union to express an interest in being considered a merger partner for a
Minority Depository Institution.
Request for Comment: 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 proposed revisions to the collection of information that
are the subject of this notice are 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 as proposed to be revised,
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
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. 2024-16460 Filed 7-25-24; 8:45 am]
BILLING CODE 7535-01-P
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</html>Indexed from Federal Register on July 26, 2024.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.