Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request, 50116-50117 [2013-19970]

Download as PDF 50116 Federal Register / Vol. 78, No. 159 / Friday, August 16, 2013 / Notices emcdonald on DSK67QTVN1PROD with NOTICES and copying. Five FCUs times 20 hours per respondent equals 100 annual burden hours. The estimated total annual burden hours for all respondents equal 150 hours. The FCU’s costs of document search and copying fall on the member-petitioners and not on the FCU. NCUA requests that you send your comments on the information collection requirements under section 701.3 to the locations listed in the addresses section. Your comments should address: (a) The necessity of the information collection for the proper performance of NCUA, including whether the information will have practical utility; (b) the accuracy of our estimate of the burden (hours and cost) of the collection of information, including the validity of the methodology and assumptions used; (c) ways we could enhance the quality, utility, and clarity of the information to be collected; and (d) ways we could minimize the burden of the collection of the information on the respondents such as through the use of automated collection techniques or other forms of information technology. It is NCUA’s policy to make all comments available to the public for review. II. Data Title: Member Inspection of Credit Union Books, Records, and Minutes, 12 CFR § 701.3. OMB Number: 3133–0176. Form Number: None. Type of Review: Reinstatement, with change, of a previously approved collection. Description: Section 701.3 is NCUA’s regulation on the circumstances and conditions under which FCU members may inspect and copy the FCU’s books, records, and minutes of meetings. The collection of information requirements apply to FCU members seeking inspection and copying of the FCU’s records and FCUs that receive such member requests. To obtain access to records, members are required to submit a petition to the FCU, stating a proper purpose for inspection and signed by at least one percent of the members, with a minimum of 20 and a maximum of 500 members. Section 701.3 requires that the FCU must permit inspection of relevant records if it receives such a petition. The members of an FCU own it, and the disclosure requirements placed on an FCU are necessary to ensure transparency and protect the rights of the members. The FCU records disclosed to members as a result of a petition are used by the members to protect their ownership and financial interests. The petition signatures collected by each FCU are used by the VerDate Mar<15>2010 19:06 Aug 15, 2013 Jkt 229001 FCU to verify the membership status of each petitioner. Respondents: Federal credit unions; members of Federal credit unions. Estimated No. of Respondents: 10. Frequency of Response: Upon request. Estimated Burden Hours per Response: Ranges from 10 to 20 hours. Estimated Total Annual Burden Hours: 150. Estimated Total Annual Cost: $4,000. By the National Credit Union Administration Board on August 13, 2013. Gerard Poliquin, Secretary of the Board. [FR Doc. 2013–19969 Filed 8–15–13; 8:45 am] BILLING CODE 7535–01–P NATIONAL CREDIT UNION ADMINISTRATION Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request National Credit Union Administration (NCUA). ACTION: Request for comment. AGENCY: The NCUA intends to submit the following information collection to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104–13, 44 U.S.C. Chapter 35). This information collection notice is published to obtain comments from the public. This collection of information is related to NCUA’s regulation on nondiscrimination requirements in real estate-related lending. DATES: Comments will be accepted until October 15, 2013. ADDRESSES: Interested parties are invited to submit written comments to the NCUA Contact and the OMB Reviewer listed below: NCUA Contact: Tracy Crews, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314–3428, Fax No. 703–837–2861, Email: OCIOPRA@ncua.gov. OMB Contact: Office of Management and Budget, ATTN: Desk Officer for the National Credit Union Administration, Office of Information and Regulatory Affairs, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Requests for additional information, a copy of the information collection request, or a copy of submitted comments should be directed to Tracy Crews at the National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314–3428, or at (703) 518–6444. SUMMARY: PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 SUPPLEMENTARY INFORMATION: I. Abstract and Request for Comments NCUA is reinstating a previously approved collection of information for 12 CFR 701.31, Nondiscrimination Requirements in Real Estate-Related Lending, Appraisals, and Advertising. Section 701.31 implements requirements of the Fair Housing Act, 42 U.S.C. 3601 et seq. It requires each Federal credit union (FCU) to maintain a copy of the real estate appraisal used to support an applicant’s real estaterelated loan application and to make it available to any requesting member/ applicant for a period of 25 months. It also requires an FCU using geographic factors in evaluating real estate-related loan applications to disclose such fact on the appraisal, along with a statement demonstrating the necessity of using such factors. The FCU retains the appraisal with the noted factors in its records to prove compliance with nondiscrimination statutes and regulations. The FCU’s borrowers and NCUA use the information to determine whether the FCU discriminates against certain borrowers. This regulation ensures compliance with the Fair Housing Act anti-redlining requirements. The real estate appraisal is an integral part of most real estate-related loan transactions. The appraisal, factors affecting the appraisal, and record retention are all routinely included in most real estate-related loan transactions as a usual and customary industry practice. Therefore, any cost in time for the FCU is minimal. NCUA estimates that the time required for this collection of information is approximately one hour per year for each FCU. As of July 2, 2013, there were 4,220 FCUs that could make real estaterelated loans. 1 hour × 4,220 respondents/recordkeepers = 4,220 total annual burden hours. NCUA does not believe that FCUs will incur any additional costs as a result of the recordkeeping requirement. NCUA requests that you send your comments on the information collection requirement under section 701.31 to the locations listed in the addresses section. Your comments should address: (a) The necessity of the information collection for the proper performance of NCUA, including whether the information will have practical utility; (b) the accuracy of our estimate of the burden (hours and cost) of the collection of information, including the validity of the methodology and assumptions used; (c) ways we could enhance the quality, utility, and clarity of the information to be collected; and (d) ways we could E:\FR\FM\16AUN1.SGM 16AUN1 Federal Register / Vol. 78, No. 159 / Friday, August 16, 2013 / Notices minimize the burden of the collection of the information on the respondents such as through the use of automated collection techniques or other forms of information technology. It is NCUA’s policy to make all comments available to the public for review. II. Data emcdonald on DSK67QTVN1PROD with NOTICES Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request National Credit Union Administration (NCUA). ACTION: Request for comment. AGENCY: Title: Nondiscrimination Requirements in Real Estate-Related Lending, Appraisals, and Advertising, 12 CFR 701.31. OMB Number: 3133–0068. Form Number: None. Type of Review: Reinstatement, with change, of a previously approved collection. Description: Section 701.31 is NCUA’s regulation implementing requirements of the Fair Housing Act, 42 U.S.C. 3601 et seq. It requires each FCU to maintain a copy of the real estate appraisal used to support an applicant’s real estaterelated loan application and to make it available to any requesting member/ applicant for a period of 25 months. It also requires an FCU using geographic factors in evaluating real estate-related loan applications to disclose such fact on the appraisal, along with a statement demonstrating the necessity of using such factors. The FCU retains the appraisal with the noted factors in its records to prove compliance with nondiscrimination statutes and regulations. The FCU’s borrowers and NCUA use the information to determine whether the FCU discriminates against certain borrowers. This regulation ensures compliance with the Fair Housing Act anti-redlining requirements. Respondents: Federal Credit Unions. Estimated No. of Respondents/ Recordkeepers: 4,220. Frequency of Response: Recordkeeping on occasion. Estimated Burden Hours Per Response: 1 hour. Estimated Total Annual Burden Hours: 4,220 hours. Estimated Total Annual Cost: $0. By the National Credit Union Administration Board on August 13, 2013. Gerard Poliquin, Secretary of the Board. [FR Doc. 2013–19970 Filed 8–15–13; 8:45 am] BILLING CODE 7535–01–P VerDate Mar<15>2010 NATIONAL CREDIT UNION ADMINISTRATION 19:06 Aug 15, 2013 Jkt 229001 The NCUA intends to submit the following information collection to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104–13, 44 USC Chapter 35). This information collection is not from any new requirements. It is a reinstatement of a prior collection related to NCUA’s leasing rule. The rule requires a federal credit union engaged in leasing to obtain or have on file financial documentation demonstrating that the guarantor of an estimated residual value can meet the guarantee. This information collection is being published to obtain comments from the public. DATES: Comments will be accepted until October 15, 2013. ADDRESSES: Interested parties are invited to submit written comments to the NCUA Contact and the OMB Reviewer listed below: NCUA Contact: Tracy Crews, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314–3428, Fax No. 703–837–2861, Email: OCIOPRA@ncua.gov. OMB Contact: Office of Management and Budget, ATTN: Desk Officer for the National Credit Union Administration, Office of Information and Regulatory Affairs, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Requests for additional information, a copy of the information collection request, or a copy of submitted comments should be directed to Tracy Crews at the National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314–3428, or at (703) 518–6444. SUPPLEMENTARY INFORMATION: SUMMARY: I. Abstract and Request for Comments NCUA is amending and reinstating the collection for 3133–0151 for NCUA’s leasing regulation. 12 CFR part 714. In a leasing situation, the NCUA requires the financially responsible party to guarantee the excess when the residual value of a lease will exceed 25% of the original cost of the leased property. 12 CFR 714.5. The guarantor may be the manufacturer or an insurance company. PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 50117 The federal credit union must obtain and have on file financial documentation demonstrating that the guarantor has the resources to meet the guarantee. If a manufacturer is involved, the federal credit union must review financial statements for the period that would establish a reasonable financial trend. If an insurance company is involved, it must have a major company rating of at least a B+. The federal credit union will use the information as part of the risk assessment process to analyze and evaluate the financial capabilities and resources of a party that guarantees the residual value used in a leasing arrangement. There are currently 35 federal credit unions offering leases. Most leases are offered with residual payments of less than 25% of the original leased property value. Therefore, there are a limited number of leases requiring a guarantee. This is estimated to be 5 transactions per year for federal credit unions offering leases. The hourly burden per transaction is approximately 2 hours. Completing the financial review requires a combination of clerical and officer time which is estimated to be a blended hourly rate of $60. Therefore, the estimated annual hourly burden for federal credit unions offering leases is 350 hours, at an hourly cost of $60 resulting in an estimated annual financial burden of $21,000. The burden is minimal and offset by the additional benefit of mitigating and reducing the potential for losses to the credit union. The NCUA requests that you send your comments on this collection to the location listed in the ADDRESSES section. Your comments should address: (a) The necessity of the information collection for the proper performance of NCUA, including whether the information will have practical utility; (b) the accuracy of our estimate of the burden (hours and cost) of the collection of information, including the validity of the methodology and assumptions used; (c) ways we could enhance the quality, utility, and clarity of the information to be collected; and (d) ways we could minimize the burden of the collection of the information on the respondents such as through the use of automated collection techniques or other forms of information technology. It is NCUA’s policy to make all comments available to the public for review. II. Data Title: Leasing—Statistical Documentation Required for a Guarantor of a Residual Value, 12 CFR part 714. OMB Number: 3133–0151. Form Number: None. E:\FR\FM\16AUN1.SGM 16AUN1

Agencies

[Federal Register Volume 78, Number 159 (Friday, August 16, 2013)]
[Notices]
[Pages 50116-50117]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-19970]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Submission to OMB for 
Reinstatement, With Change, of a Previously Approved Collection; 
Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Request for comment.

-----------------------------------------------------------------------

SUMMARY: The NCUA intends to submit the following information 
collection to the Office of Management and Budget (OMB) for review and 
clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44 
U.S.C. Chapter 35). This information collection notice is published to 
obtain comments from the public. This collection of information is 
related to NCUA's regulation on nondiscrimination requirements in real 
estate-related lending.

DATES: Comments will be accepted until October 15, 2013.

ADDRESSES: Interested parties are invited to submit written comments to 
the NCUA Contact and the OMB Reviewer listed below:
    NCUA Contact: Tracy Crews, National Credit Union Administration, 
1775 Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-
2861, Email: OCIOPRA@ncua.gov.
    OMB Contact: Office of Management and Budget, ATTN: Desk Officer 
for the National Credit Union Administration, Office of Information and 
Regulatory Affairs, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Requests for additional information, a 
copy of the information collection request, or a copy of submitted 
comments should be directed to Tracy Crews at the National Credit Union 
Administration, 1775 Duke Street, Alexandria, VA 22314-3428, or at 
(703) 518-6444.

SUPPLEMENTARY INFORMATION: 

I. Abstract and Request for Comments

    NCUA is reinstating a previously approved collection of information 
for 12 CFR 701.31, Nondiscrimination Requirements in Real Estate-
Related Lending, Appraisals, and Advertising. Section 701.31 implements 
requirements of the Fair Housing Act, 42 U.S.C. 3601 et seq. It 
requires each Federal credit union (FCU) to maintain a copy of the real 
estate appraisal used to support an applicant's real estate-related 
loan application and to make it available to any requesting member/
applicant for a period of 25 months. It also requires an FCU using 
geographic factors in evaluating real estate-related loan applications 
to disclose such fact on the appraisal, along with a statement 
demonstrating the necessity of using such factors. The FCU retains the 
appraisal with the noted factors in its records to prove compliance 
with nondiscrimination statutes and regulations. The FCU's borrowers 
and NCUA use the information to determine whether the FCU discriminates 
against certain borrowers. This regulation ensures compliance with the 
Fair Housing Act anti-redlining requirements.
    The real estate appraisal is an integral part of most real estate-
related loan transactions. The appraisal, factors affecting the 
appraisal, and record retention are all routinely included in most real 
estate-related loan transactions as a usual and customary industry 
practice. Therefore, any cost in time for the FCU is minimal. NCUA 
estimates that the time required for this collection of information is 
approximately one hour per year for each FCU. As of July 2, 2013, there 
were 4,220 FCUs that could make real estate-related loans. 1 hour x 
4,220 respondents/recordkeepers = 4,220 total annual burden hours. NCUA 
does not believe that FCUs will incur any additional costs as a result 
of the recordkeeping requirement.
    NCUA requests that you send your comments on the information 
collection requirement under section 701.31 to the locations listed in 
the addresses section. Your comments should address: (a) The necessity 
of the information collection for the proper performance of NCUA, 
including whether the information will have practical utility; (b) the 
accuracy of our estimate of the burden (hours and cost) of the 
collection of information, including the validity of the methodology 
and assumptions used; (c) ways we could enhance the quality, utility, 
and clarity of the information to be collected; and (d) ways we could

[[Page 50117]]

minimize the burden of the collection of the information on the 
respondents such as through the use of automated collection techniques 
or other forms of information technology. It is NCUA's policy to make 
all comments available to the public for review.

II. Data

    Title: Nondiscrimination Requirements in Real Estate-Related 
Lending, Appraisals, and Advertising, 12 CFR 701.31.
    OMB Number: 3133-0068.
    Form Number: None.
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Description: Section 701.31 is NCUA's regulation implementing 
requirements of the Fair Housing Act, 42 U.S.C. 3601 et seq. It 
requires each FCU to maintain a copy of the real estate appraisal used 
to support an applicant's real estate-related loan application and to 
make it available to any requesting member/applicant for a period of 25 
months. It also requires an FCU using geographic factors in evaluating 
real estate-related loan applications to disclose such fact on the 
appraisal, along with a statement demonstrating the necessity of using 
such factors. The FCU retains the appraisal with the noted factors in 
its records to prove compliance with nondiscrimination statutes and 
regulations. The FCU's borrowers and NCUA use the information to 
determine whether the FCU discriminates against certain borrowers. This 
regulation ensures compliance with the Fair Housing Act anti-redlining 
requirements.
    Respondents: Federal Credit Unions.
    Estimated No. of Respondents/Recordkeepers: 4,220.
    Frequency of Response: Recordkeeping on occasion.
    Estimated Burden Hours Per Response: 1 hour.
    Estimated Total Annual Burden Hours: 4,220 hours.
    Estimated Total Annual Cost: $0.

    By the National Credit Union Administration Board on August 13, 
2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013-19970 Filed 8-15-13; 8:45 am]
BILLING CODE 7535-01-P
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