Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request, 59377-59378 [2013-23478]

Download as PDF tkelley on DSK3SPTVN1PROD with NOTICES Federal Register / Vol. 78, No. 187 / Thursday, September 26, 2013 / Notices 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 FCU to verify the membership status of each petitioner. The information collection only arises upon a member request. In NCUA’s experience, members do not use this petition authority often. NCUA estimates that, on an annual basis and across all FCUs, there will be only approximately five member petitions requesting inspection of FCU records. NCUA estimates that it will take a group of member-petitioners (each group treated as one respondent) approximately ten hours to prepare a petition and submit it to the FCU. Five groups of member-petitioners times ten hours per respondent equals 50 annual burden hours. NCUA estimates that it will take an FCU that receives a petition approximately 20 hours to evaluate the petition, locate the relevant documents, and make them available for inspection 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 VerDate Mar<15>2010 18:19 Sep 25, 2013 Jkt 229001 59377 policy to make all comments available to the public for review. NATIONAL CREDIT UNION ADMINISTRATION II. Data Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request 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 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. National Credit Union Administration (NCUA). ACTION: Request for comment. AGENCY: By the National Credit Union Administration Board on September 20, 2013. Gerard Poliquin, Secretary of the Board. 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 is published to obtain comments from the public and is not part of any new requirements or program changes. This information collection is related to credit unions that serve predominately low-income members and seek a low-income designation from NCUA so they may benefit from certain statutory relief and receive assistance from the Community Development Revolving Loan Fund. DATES: Comments will be accepted until October 28, 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 NCUA, 1775 Duke Street, Alexandria, VA 22314–3428, or at (703) 518–6444. For additional information about low-income designations, contact Susan Ryan in the NCUA Office of Consumer Protection, Division of Consumer Access, at the above address, or at (703) 518–1140. SUPPLEMENTARY INFORMATION: [FR Doc. 2013–23450 Filed 9–25–13; 8:45 am] I. Abstract and Request for Comments BILLING CODE 7535–01–P NCUA is amending and reinstating the collection for 3133–0117. The collection of information requirement is for those credit unions seeking a lowincome designation. A credit union’s PO 00000 Frm 00043 Fmt 4703 Sfmt 4703 SUMMARY: E:\FR\FM\26SEN1.SGM 26SEN1 59378 Federal Register / Vol. 78, No. 187 / Thursday, September 26, 2013 / Notices tkelley on DSK3SPTVN1PROD with NOTICES member address data are utilized for analysis in the NCUA Low-Income Designation (LID) Tool. The LID Tool is a geocoding software program which analyzes member address data. A credit union’s member address data are obtained either through the NCUA examination file or a credit union sends the data as an electronic attachment to NCUA. If the member address data are obtained through the examination process and the results of the LID Tool indicate the credit union serves predominantly low-income members, the credit union is notified it is eligible for the low-income designation. The credit union then must contact NCUA to opt for the designation. If the credit union wishes to have its data reviewed other than through the examination process, it may send an electronic member address data file for analysis in the LID Tool. If a credit union does not qualify for a low-income designation using the geocoding software LID Tool, it may submit a statistically valid sample of member income data as evidence it qualifies for the designation. Credit unions are permitted to draw this sample from loan files or a member survey. 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: Designation of Low-Income Status. OMB Number: 3133–0117. Form Number: None. Type of Review: Reinstatement, with change, of a previously approved collection. Description: Credit unions that obtain a low-income designation benefit from certain statutory relief, including: Accepting nonmember deposits from any source; offering secondary capital accounts; an exemption from the VerDate Mar<15>2010 18:19 Sep 25, 2013 Jkt 229001 aggregate loan limit for member business loans; and being eligible to receive assistance from the Community Development Revolving Loan Fund. Respondents: Certain credit unions serving predominantly low-income members. Estimated Number of Respondents/ Recordkeepers: 265 (260 credit unions requesting the designation utilizing the LID Tool, and 5 credit unions requesting the designation utilizing the sampling method). Estimated Burden Hours per Response: 15 minutes for LID Tool; 40 hours for sampling method. Frequency of Response: Once, on occasion, and recordkeeping. Estimated Total Annual Burden Hours: 265 hours. Estimated Total Annual Cost: $20,000. By the National Credit Union Administration Board on September 20, 2013. Gerard Poliquin, Secretary of the Board. [FR Doc. 2013–23478 Filed 9–25–13; 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: NCUA intends to submit the following information collection to the Office of Management and Budget (OMB) for reinstatement under the Paperwork Reduction Act of 1995 (Pub. L. 104–13, 44 U.S.C. Chapter 35). This information collection is published to obtain comments from the public. The Truth in Savings Act (TISA) requires depository institutions to disclose to consumers certain information, including interest rates, bonuses, and fees associated with their deposit accounts and accompanying services. TISA also requires NCUA to promulgate implementing regulations governing all credit unions. NCUA regulations require 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 or potential member’s request. The disclosures are for the benefit of credit SUMMARY: PO 00000 Frm 00044 Fmt 4703 Sfmt 4703 union members and consumers; NCUA does not collect the information. Additionally, NCUA regulations contain a recordkeeping requirement for compliance purposes. DATES: Comments will be accepted until October 28, 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. For other questions, you may contact NCUA’s Office of Consumer Protection, Division of Consumer Compliance Policy and Outreach, at the above address, or at (703) 518–1140, or OCPCCPOmail@NCUA.gov. SUPPLEMENTARY INFORMATION: I. Abstract and Request for Comments NCUA is reinstating the information collection approved as OMB control number 3133–0134, under the Truth in Savings Act, 12 U.S.C. 4301 et seq. TISA requires depository institutions to disclose to consumers certain information, including interest rates, bonuses, and fees associated with their deposit accounts and accompanying services. Clear and uniform disclosures of the interest rates payable on deposit accounts and the fees assessable against them by depository institutions permits consumers to make meaningful decisions about their finances. Under TISA, NCUA must promulgate regulations substantially similar to those issued by the Consumer Financial Protection Bureau, taking into account the nature of credit unions. See 12 U.S.C. 4311. NCUA’s regulations governing all credit unions are found in 12 CFR Part 707. For the benefit of credit union members and consumers, NCUA regulations require 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 E:\FR\FM\26SEN1.SGM 26SEN1

Agencies

[Federal Register Volume 78, Number 187 (Thursday, September 26, 2013)]
[Notices]
[Pages 59377-59378]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-23478]


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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 is published to obtain 
comments from the public and is not part of any new requirements or 
program changes. This information collection is related to credit 
unions that serve predominately low-income members and seek a low-
income designation from NCUA so they may benefit from certain statutory 
relief and receive assistance from the Community Development Revolving 
Loan Fund.

DATES: Comments will be accepted until October 28, 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 NCUA, 1775 Duke 
Street, Alexandria, VA 22314-3428, or at (703) 518-6444. For additional 
information about low-income designations, contact Susan Ryan in the 
NCUA Office of Consumer Protection, Division of Consumer Access, at the 
above address, or at (703) 518-1140.

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    NCUA is amending and reinstating the collection for 3133-0117. The 
collection of information requirement is for those credit unions 
seeking a low-income designation. A credit union's

[[Page 59378]]

member address data are utilized for analysis in the NCUA Low-Income 
Designation (LID) Tool. The LID Tool is a geocoding software program 
which analyzes member address data. A credit union's member address 
data are obtained either through the NCUA examination file or a credit 
union sends the data as an electronic attachment to NCUA. If the member 
address data are obtained through the examination process and the 
results of the LID Tool indicate the credit union serves predominantly 
low-income members, the credit union is notified it is eligible for the 
low-income designation. The credit union then must contact NCUA to opt 
for the designation. If the credit union wishes to have its data 
reviewed other than through the examination process, it may send an 
electronic member address data file for analysis in the LID Tool.
    If a credit union does not qualify for a low-income designation 
using the geocoding software LID Tool, it may submit a statistically 
valid sample of member income data as evidence it qualifies for the 
designation. Credit unions are permitted to draw this sample from loan 
files or a member survey.
    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: Designation of Low-Income Status.
    OMB Number: 3133-0117.
    Form Number: None.
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Description: Credit unions that obtain a low-income designation 
benefit from certain statutory relief, including: Accepting nonmember 
deposits from any source; offering secondary capital accounts; an 
exemption from the aggregate loan limit for member business loans; and 
being eligible to receive assistance from the Community Development 
Revolving Loan Fund.
    Respondents: Certain credit unions serving predominantly low-income 
members.
    Estimated Number of Respondents/Recordkeepers: 265 (260 credit 
unions requesting the designation utilizing the LID Tool, and 5 credit 
unions requesting the designation utilizing the sampling method).
    Estimated Burden Hours per Response: 15 minutes for LID Tool; 40 
hours for sampling method.
    Frequency of Response: Once, on occasion, and recordkeeping.
    Estimated Total Annual Burden Hours: 265 hours.
    Estimated Total Annual Cost: $20,000.

    By the National Credit Union Administration Board on September 
20, 2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013-23478 Filed 9-25-13; 8:45 am]
BILLING CODE 7535-01-P
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