Agency Information Collection Activities: Submission to OMB for Revision of a Currently Approved Information Collection, Credit Union Service Organizations; Comment Request, 38475-38476 [2015-16497]

Download as PDF Federal Register / Vol. 80, No. 128 / Monday, July 6, 2015 / Notices Department of Labor Veterans’ Employment and Training Service, 200 Constitution Ave. NW., Washington, DC 20210. NOTIFICATION PROCEDURE: Inquiries should be mailed to the System Manager. RECORD ACCESS PROCEDURE: A request for access should be mailed to the System Manager. CONTESTING RECORD PROCEDURES: A petition for amendment should be mailed to the System Manager. RECORD SOURCE CATEGORIES: Information contained within this system is obtained from the DOD/ DMDC. SYSTEMS EXEMPTED FROM CERTAIN PROVISIONS OF THE ACT: None. BILLING CODE 4510–49–P NATIONAL COUNCIL ON DISABILITY Sunshine Act Meetings The Members of the National Council on Disability (NCD) will hold a quarterly meeting on Thursday, July 23, 2015, 9:00 a.m.–4:30 p.m. (Eastern Daylight Time), and on Friday, July 24, 2015, 9:00 a.m.–12:30 p.m. (Eastern Daylight Time) in Washington, DC. PLACE: This meeting will occur in Washington, DC, at the Access Board Conference Room, 1331 F Street NW., Suite 800, Washington, DC 20004. Interested parties are welcome to join in person or by phone in a listening-only capacity (other than the period allotted for by-phone public comment on Friday, July 24) using the following call-in number: 888–523–1225; Conference ID: 7629517; Conference Title: NCD Meeting; Host Name: Jeff Rosen. MATTERS TO BE CONSIDERED: The Council will receive reports from its standing committees; release its annual Progress Report; review and vote on proposed policy projects for FY16 and FY17; discuss updates on the rights of parents with disabilities; host a discussion on emerging technologies; and receive public comment focused on future directions in technology policy. AGENDA: The times provided below are approximations for when each agenda item is anticipated to be discussed (all times Eastern): TIME AND DATES: Lhorne on DSK7TPTVN1PROD with NOTICES 9:00–10:15 a.m.—Call to Order, Standing Committee Reports 10:15–11:15 a.m.—Release of the NCD Progress Report and Discussion Panel 11:15 a.m.–12:00 p.m.—Remarks by Maria Town, Associate Director for Public Engagement, The White House (tentative) 12:00–12:30 p.m.—Impact of the ADA in American Communities 2025 12:30–1:30 p.m.—Lunch Break 1:30–2:00 p.m.—Discussion of Proposed Changes to Congressional Justification 2:00–3:00 p.m.—Council Presentations of Proposed FY16, FY17 Policy Projects 3:00–3:15 p.m.—Break 3:15–4:30 p.m.—Continuation of Presentations and Vote 4:30 p.m.—Adjournment access CART on July 23, 2015 is http://www.streamtext.net/ text.aspx?event=072315ncd900am; and on July 24, 2015 is http:// www.streamtext.net/ text.aspx?event=072415ncd900am. Those who plan to attend the meeting in-person and require accommodations should notify NCD as soon as possible to allow time to make arrangements. To help reduce exposure to fragrances for those with multiple chemical sensitivities, NCD requests that all those attending the meeting in person refrain from wearing scented personal care products such as perfumes, hairsprays, and deodorants. Dated: June 30, 2015. Rebecca Cokley, Executive Director. [FR Doc. 2015–16559 Filed 7–1–15; 11:15 am] BILLING CODE 8421–03–P Friday, July 24 [FR Doc. 2015–16460 Filed 7–2–15; 8:45 am] VerDate Sep<11>2014 Thursday, July 23 38475 14:37 Jul 02, 2015 Jkt 235001 9:00–10:15 a.m.—Civil Rights of Parents with Disabilities Discussion 10:15–11:45 a.m.—Accessibility in Emerging Technologies Discussion 11:45 a.m.–12:30 p.m.—Public Comment (Note: Comments received will be limited to those regarding future directions in technology policy.) 12:30 p.m.—Adjournment Public Comment: To better facilitate NCD’s public comment, any individual interested in providing public comment is asked to register his or her intent to provide comment in advance by sending an email to PublicComment@ncd.gov with the subject line ‘‘Public Comment’’ with your name, organization, state, and topic of comment included in the body of your email. Full-length written public comments may also be sent to that email address. All emails to register for public comment at the quarterly meeting must be received by Wednesday, July 22, 2015. Priority will be given to those individuals who are in-person to provide their comments. Those commenters on the phone will be called on according to the list of those registered via email. Due to time constraints, NCD asks all commenters to limit their comments to three minutes. Comments received at the July quarterly meeting will be limited to those regarding future directions in technology policy. Contact Person: Anne Sommers, NCD, 1331 F Street NW., Suite 850, Washington, DC 20004; 202–272–2004 (V), 202–272–2074 (TTY). Accommodations: A CART streamtext link has been arranged for this teleconference meeting. The web link to PO 00000 Frm 00049 Fmt 4703 Sfmt 4703 NATIONAL CREDIT UNION ADMINISTRATION Agency Information Collection Activities: Submission to OMB for Revision of a Currently Approved Information Collection, Credit Union Service Organizations; 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 is published to obtain comments from the public. NCUA amended its credit union service organization (CUSO) regulation to increase transparency and address certain safety and soundness concerns. The final rule extends certain requirements of the CUSO regulation to federally insured, state-chartered credit unions and imposes new requirements on federally insured credit unions (FICUs). Under the amended rule FICUs with an investment in, or loan to, a CUSO must obtain a written agreement with the CUSO addressing accounting, financial statements, audits, reporting, and legal opinions. The rule limits the ability of a ‘‘less than adequately capitalized’’ FICU to recapitalize an insolvent CUSO. All CUSOs are required to annually provide basic profile information to NCUA and the appropriate state supervisory authority (SSA). CUSOs engaging in certain SUMMARY: E:\FR\FM\06JYN1.SGM 06JYN1 38476 Federal Register / Vol. 80, No. 128 / Monday, July 6, 2015 / Notices Lhorne on DSK7TPTVN1PROD with NOTICES I. Abstract and Request for Comments NCUA is revising the currently approved collection of information, OMB Control Number, 3133–0149, to reflect amendments to part 712 (part 712 or the rule). Part 712 of the National Credit Union Administration’s (NCUA) regulations 1 implements authority in the Federal Credit Union Act 2 relating to federally insured credit union (FICU) lending or investment activity with a credit union service organization (CUSO). The rule addresses NCUA’s safety and soundness concerns for activities conducted by CUSOs and imposes certain recordkeeping obligations on FICUs that have investment or lending relationships with, or conduct operations through, CUSOs. Certain reporting obligations are imposed on natural person credit union CUSOs and corporate credit union CUSOs as a result of the rule. Part 712 contains the following information collection (IC) requirements: (IC 1.) Obtain Written Agreement. Before making a loan to, or investment in, a CUSO, a FICU must obtain a written agreement from the CUSO (or revise any current agreement the FICU has with a CUSO) that the CUSO will: 1 12 CFR part 712. U.S.C. 1756, 1757(5)(D), 1757(7)(I), 1766, 1782, 1785, and 1786. 2 12 VerDate Sep<11>2014 14:37 Jul 02, 2015 Jkt 235001 Follow generally accepted accounting principles (GAAP); prepare financial statements at least quarterly and obtain an annual opinion audit from a licensed certified public accountant; provide access to its books and records to NCUA and the appropriate SSA; and file financial and other reports directly with NCUA and the appropriate SSA; (IC 2.) Obtain Written Legal Opinion. A FICU must obtain a written legal opinion confirming the CUSO is established in a legally sufficient way to limit the credit union’s exposure to loss of its loans to, or investments in, the CUSO; (IC 3.) Obtain Regulatory Approval. Any FICU that is or, as a result of recapitalizing an insolvent CUSO will become, less than adequately capitalized, must seek NCUA approval before recapitalizing an insolvent CUSO; and (IC 4.) CUSO Reporting. A CUSO with an investment or loan from a FICU must annually submit a report directly to NCUA and the appropriate SSA that contains financial and other information prescribed in the rule. All CUSOs are required to provide basic profile information to NCUA and the appropriate SSA. CUSOs engaging in certain complex or high-risk activities are also required to report more detailed information, including audited financial statements and customer information. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. NCUA requests that you send your comments on the information collection requirements for Credit Union Service Organizations, 12 CFR part 712, 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. OMB Number: 3133–0149. Form Number: None. Type of Review: Revision to a currently approved collection. Description: NCUA amended part 712 to increase transparency and address safety and soundness concerns about activities conducted by CUSOs and imposes certain recordkeeping obligations on FICUs that have investment or lending relationships with, or conduct operations through, CUSOs.3 The final rule extends certain requirements of the CUSO regulation to federally insured, state-chartered credit unions and imposes new requirements on federally insured credit unions (FICUs). Under the amended rule a FICU with an investment in, or loan to, a CUSO must obtain a written agreement with the CUSO addressing accounting, financial statements, audits, reporting, and legal opinions. The rule limits the ability of a ‘‘less than adequately capitalized’’ FICU to recapitalize an insolvent CUSO. All CUSOs are required to annually provide basic profile information to NCUA and the appropriate SSA. CUSOs engaging in certain complex or high-risk activities are also required to report more detailed information, including audited financial statements and customer information. These reporting obligations are imposed on natural person credit union CUSOs and corporate credit union CUSOs as a result of the rule. Respondents: Federally insured credit unions and credit union service organizations. Estimated No. of Respondents: 4,116. Frequency of Response: One-time, on occasion, and annual. Estimated Burden Hours per Response: Varies based on type and frequency of response. Estimated Total Annual Burden Hours: 11,558.5 hours. Estimated Total Annual Cost: $76,177.2. II. Data Title: Credit Union Service Organizations, 12 CFR part 712. complex or high-risk activities are also required to report more detailed information, including audited financial statements and customer information. DATES: Comments will be accepted until September 4, 2015. ADDRESSES: Interested parties are invited to submit written comments to the NCUA Contact and the OMB Reviewer listed below: NCUA Contact: Joy Lee, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314–3428, Fax No. 703–837–2861, Email: OCIOPRA@ncua.gov. OMB Reviewer: 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: NCUA Contact: Joy Lee, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314–3428, Fax No. 703–837–2861, Email: OCIOPRA@ncua.gov. SUPPLEMENTARY INFORMATION: ACTION: PO 00000 Frm 00050 Fmt 4703 Sfmt 4703 By the National Credit Union Administration Board on June 30, 2015. Gerard Poliquin, Secretary of the Board. [FR Doc. 2015–16497 Filed 7–2–15; 8:45 am] BILLING CODE 7535–01–P POSTAL REGULATORY COMMISSION [Docket Nos. MC2015–58 and CP2015–88; Order No. 2556] New Postal Product Postal Regulatory Commission. Notice. AGENCY: 3 78 E:\FR\FM\06JYN1.SGM FR 72537 (Dec. 3, 2013). 06JYN1

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[Federal Register Volume 80, Number 128 (Monday, July 6, 2015)]
[Notices]
[Pages 38475-38476]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-16497]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Submission to OMB for 
Revision of a Currently Approved Information Collection, Credit Union 
Service Organizations; 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. NCUA amended its credit union service 
organization (CUSO) regulation to increase transparency and address 
certain safety and soundness concerns. The final rule extends certain 
requirements of the CUSO regulation to federally insured, state-
chartered credit unions and imposes new requirements on federally 
insured credit unions (FICUs). Under the amended rule FICUs with an 
investment in, or loan to, a CUSO must obtain a written agreement with 
the CUSO addressing accounting, financial statements, audits, 
reporting, and legal opinions. The rule limits the ability of a ``less 
than adequately capitalized'' FICU to recapitalize an insolvent CUSO. 
All CUSOs are required to annually provide basic profile information to 
NCUA and the appropriate state supervisory authority (SSA). CUSOs 
engaging in certain

[[Page 38476]]

complex or high-risk activities are also required to report more 
detailed information, including audited financial statements and 
customer information.

DATES: Comments will be accepted until September 4, 2015.

ADDRESSES: Interested parties are invited to submit written comments to 
the NCUA Contact and the OMB Reviewer listed below:
    NCUA Contact: Joy Lee, National Credit Union Administration, 1775 
Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-2861, 
Email: OCIOPRA@ncua.gov.
    OMB Reviewer: 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:
    NCUA Contact: Joy Lee, National Credit Union Administration, 1775 
Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-2861, 
Email: OCIOPRA@ncua.gov.

SUPPLEMENTARY INFORMATION: 

I. Abstract and Request for Comments

    NCUA is revising the currently approved collection of information, 
OMB Control Number, 3133-0149, to reflect amendments to part 712 (part 
712 or the rule). Part 712 of the National Credit Union 
Administration's (NCUA) regulations \1\ implements authority in the 
Federal Credit Union Act \2\ relating to federally insured credit union 
(FICU) lending or investment activity with a credit union service 
organization (CUSO). The rule addresses NCUA's safety and soundness 
concerns for activities conducted by CUSOs and imposes certain 
recordkeeping obligations on FICUs that have investment or lending 
relationships with, or conduct operations through, CUSOs. Certain 
reporting obligations are imposed on natural person credit union CUSOs 
and corporate credit union CUSOs as a result of the rule.
---------------------------------------------------------------------------

    \1\ 12 CFR part 712.
    \2\ 12 U.S.C. 1756, 1757(5)(D), 1757(7)(I), 1766, 1782, 1785, 
and 1786.
---------------------------------------------------------------------------

    Part 712 contains the following information collection (IC) 
requirements:
    (IC 1.) Obtain Written Agreement. Before making a loan to, or 
investment in, a CUSO, a FICU must obtain a written agreement from the 
CUSO (or revise any current agreement the FICU has with a CUSO) that 
the CUSO will: Follow generally accepted accounting principles (GAAP); 
prepare financial statements at least quarterly and obtain an annual 
opinion audit from a licensed certified public accountant; provide 
access to its books and records to NCUA and the appropriate SSA; and 
file financial and other reports directly with NCUA and the appropriate 
SSA;
    (IC 2.) Obtain Written Legal Opinion. A FICU must obtain a written 
legal opinion confirming the CUSO is established in a legally 
sufficient way to limit the credit union's exposure to loss of its 
loans to, or investments in, the CUSO;
    (IC 3.) Obtain Regulatory Approval. Any FICU that is or, as a 
result of recapitalizing an insolvent CUSO will become, less than 
adequately capitalized, must seek NCUA approval before recapitalizing 
an insolvent CUSO; and
    (IC 4.) CUSO Reporting. A CUSO with an investment or loan from a 
FICU must annually submit a report directly to NCUA and the appropriate 
SSA that contains financial and other information prescribed in the 
rule. All CUSOs are required to provide basic profile information to 
NCUA and the appropriate SSA. CUSOs engaging in certain complex or 
high-risk activities are also required to report more detailed 
information, including audited financial statements and customer 
information.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid OMB control number.
    NCUA requests that you send your comments on the information 
collection requirements for Credit Union Service Organizations, 12 CFR 
part 712, 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: Credit Union Service Organizations, 12 CFR part 712.
    OMB Number: 3133-0149.
    Form Number: None.
    Type of Review: Revision to a currently approved collection.
    Description: NCUA amended part 712 to increase transparency and 
address safety and soundness concerns about activities conducted by 
CUSOs and imposes certain recordkeeping obligations on FICUs that have 
investment or lending relationships with, or conduct operations 
through, CUSOs.\3\ The final rule extends certain requirements of the 
CUSO regulation to federally insured, state-chartered credit unions and 
imposes new requirements on federally insured credit unions (FICUs). 
Under the amended rule a FICU with an investment in, or loan to, a CUSO 
must obtain a written agreement with the CUSO addressing accounting, 
financial statements, audits, reporting, and legal opinions. The rule 
limits the ability of a ``less than adequately capitalized'' FICU to 
recapitalize an insolvent CUSO. All CUSOs are required to annually 
provide basic profile information to NCUA and the appropriate SSA. 
CUSOs engaging in certain complex or high-risk activities are also 
required to report more detailed information, including audited 
financial statements and customer information. These reporting 
obligations are imposed on natural person credit union CUSOs and 
corporate credit union CUSOs as a result of the rule.
---------------------------------------------------------------------------

    \3\ 78 FR 72537 (Dec. 3, 2013).
---------------------------------------------------------------------------

    Respondents: Federally insured credit unions and credit union 
service organizations.
    Estimated No. of Respondents: 4,116.
    Frequency of Response: One-time, on occasion, and annual.
    Estimated Burden Hours per Response: Varies based on type and 
frequency of response.
    Estimated Total Annual Burden Hours: 11,558.5 hours.
    Estimated Total Annual Cost: $76,177.2.

    By the National Credit Union Administration Board on June 30, 
2015.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2015-16497 Filed 7-2-15; 8:45 am]
 BILLING CODE 7535-01-P