Agency Information Collection Activities; Proposed Collections; Comment Request, 22649-22650 [2016-08876]

Download as PDF Federal Register / Vol. 81, No. 74 / Monday, April 18, 2016 / Notices mstockstill on DSK4VPTVN1PROD with NOTICES reinstatement of the information collection described below. DATES: Comments should be received on or before June 17, 2016 to be assured consideration. ADDRESSES: Interested persons are invited to submit written comments on the information collection to Dawn Wolfgang, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314–3428; Fax No. 703–519–8579; or Email at PRAComments@ncua.gov. FOR FURTHER INFORMATION CONTACT: Requests for additional information should be directed to the address above. SUPPLEMENTARY INFORMATION: I. Abstract and Request for Comments 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, dividends, bonuses, and fees associated with their deposit accounts and accompanying services. TISA directed the Federal Reserve Board (FRB) to issue a final regulation governing depository institution other than credit unions. FRB promulgated the TISA regulation, known as Regulation DD, 12 CFR part 230. The Dodd-Frank Wall Street Reform and Consumer Protection Act transferred FRB’s rulemaking authority for TISA to the Consumer Financial Protection Bureau (CFPB). TISA also directed the National Credit Union Administration (NCUA) to promulgate a TISA regulation governing credit unions. Section 272(b) of TISA, 12 U.S.C. 4311(b), mandated that NCUA regulation be ‘‘substantially similar’’ to those issued by FRB (and now CFPB), but NCUA may take into account the unique nature of credit unions and the limitations under which they may pay dividends. To implement TISA, NCUA published its TISA regulation, 12 CFR part 707, which applies to all credit unions whose accounts are either insured by, or eligible to be insured by, the National Credit Union Share Insurance Fund, except for any credit union that has been designated as a corporate credit union and any non-automated credit union that has $2 million or less in assets (together, ‘‘credit unions’’). In addition, the advertising rules apply to any person who advertises an account offered by a credit union. NCUA’s TISA regulation requires credit unions to disclose fees, dividend rates and other terms concerning accounts to members or potential members. NCUA’s TISA regulation requires credit unions to provide specific VerDate Sep<11>2014 17:54 Apr 15, 2016 Jkt 238001 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’s or potential member’s request. 12 CFR 707.4, 707.5, 707.6, 707.8. Credit unions that provide periodic statements are required to include information about fees imposed, the annual percentage yield earned during those statement periods, and other account terms. The requirements for creating and disseminating account disclosures, change in terms notices, term share renewal notices, statement disclosures, and advertising disclosures are necessary to implement TISA’s purpose of providing the public with information that will permit informed comparisons of accounts at depository institutions. The collection of information pursuant to Part 707 is triggered by specific events and disclosures and must be provided to consumers within the time periods established under the regulation. To ease the compliance cost (particularly for small credit unions), model clauses and sample forms are appended to the regulation. Although the regulation requires depository institutions to retain evidence of compliance with the disclosure requirements, the regulation does not specify the types of records that must be retained. 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. II. Data Title: Account Based Disclosures in Connection with 12 CFR part 707. OMB Number: 3133–0134. Type of Review: Reinstatement with change of a previously approved collection. PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 22649 Description: NCUA’s TISA regulation requires 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’s or potential member’s request. 12 CFR 707.4, 707.5, 707.6, 707.8. Credit unions that provide periodic statements are required to include information about fees imposed, the annual percentage yield earned during those statement periods, and other account terms. The requirements for creating and disseminating account disclosures, change in terms notices, term share renewal notices, statement disclosures, and advertising disclosures are necessary to implement TISA’s purpose of providing the public with information that will permit informed comparisons of accounts at depository institutions. Respondents: All credit unions whose accounts are either insured by, or eligible to be insured by, the National Credit Union Share Insurance Fund, except for any credit union that has been designated as a corporate credit union and any non-automated credit union that has $2 million or less in assets. Estimated Number of Respondents: 6,247. Frequency of Response: Upon occurrence of triggering action. Estimated Burden Hours per Response: For account disclosures, 1.5 minutes; for change-in-terms notices, 1 minute; for notices prior to maturity, 1 minute; for periodic statement disclosures, 4 hours; and for advertising, 30 minutes. Estimated Total Annual Burden Hours: 438,852. By Gerard Poliquin, Secretary of the Board, the National Credit Union Administration, on April 13, 2016. Dated: April 13, 2016 Dawn D. Wolfgang, NCUA PRA Clearance Officer. [FR Doc. 2016–08874 Filed 4–15–16; 8:45 am] BILLING CODE 7535–01–P NATIONAL CREDIT UNION ADMINISTRATION Agency Information Collection Activities; Proposed Collections; Comment Request National Credit Union Administration (NCUA). ACTION: Notice and request for comment. AGENCY: NCUA, as part of its continuing effort to reduce paperwork SUMMARY: E:\FR\FM\18APN1.SGM 18APN1 mstockstill on DSK4VPTVN1PROD with NOTICES 22650 Federal Register / Vol. 81, No. 74 / Monday, April 18, 2016 / Notices and respondent burden, invites the general public and other Federal agencies to comment on these reinstatements of previously approved collections, as required by the Paperwork Reduction Act of 1995 (Pub. L. 104–13, 44 U.S.C. Chapter 35). DATES: Comments should be received on or before June 17, 2016 to be assured consideration. ADDRESSES: Interested persons are invited to submit written comments on the information collection to Troy Hillier, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314–3428; Fax No. 703–519–8595; or Email at PRAComments@NCUA.gov. FOR FURTHER INFORMATION CONTACT: Requests for additional information should be directed to the address above. SUPPLEMENTARY INFORMATION: OMB Number: 3133–0092. Title: Loans to Members and Lines of Credit to Members, 12 CFR 701.21 and 12 CFR 741. Abstract: Section 107(5) of the Federal Credit Union Act authorizes Federal Credit Unions to make loans to members and issue lines of credit (including credit cards) to members. Part 741 of NCUA’s rules and regulations established requirements for all federally insured credit unions related to loans to members and lines of credit union members. Additionally, NCUA’s rules and regulations at § 701.21 establish additional requirements related to loans to members and lines of credit to members for federal credit unions. These regulations include various information collections to ensure credit unions comply with applicable laws and operate in a safe and sound manner. Type of Review: Reinstatement, with change, of a previously approved collection. Affected Public: Private sector: notfor-profit institutions. Estimated Number of Respondents: 3,856. Estimated Number of Responses per Respondent: 392. Estimated Burden Hours per Response: 0.28. Estimated Total Annual Burden Hours: 423,451. Reason for Change: NCUA is combining all of the information collection requirements associated with member loans (12 CFR 701.21 and the associated requirements in 12 CFR 741) under a single control number. Upon approval of the reinstatement, NCUA will discontinue use of two other control numbers (3133–0139 and 3133– 0171) associated with this program. VerDate Sep<11>2014 17:54 Apr 15, 2016 Jkt 238001 OMB Number: 3133–0127. Title: Purchase, Sale and Pledge of Eligible Obligations, 12 CFR 701.23. Abstract: The Federal Credit Union Act limits the amount of eligible obligations a federal credit union is permitted to purchase, sell, pledge, discount, receive or dispose of under Section 107(13), 12 U.S.C. 107. NCUA’s rules and regulations further govern this limitation by prescribing additional requirements under § 701.23. The various information collections are in place to ensure a federal credit union’s activities related to the purchase, sale, and pledge of eligible obligations comply with applicable laws and are conducted in a safe and sound manner. Type of Review: Reinstatement without change of a previously approved collection. Affected Public: Private sector: notfor-profit institutions. Estimated Number of Respondents: 1,004. Estimated Number of Responses per Respondent: 38. Estimated Burden Hours per Response: 0.27. Estimated Total Annual Burden Hours: 10,540. 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 Gerard Poliquin, Secretary of the Board, the National Credit Union Administration, on April 13, 2016. Dated: April 13, 2016. Dawn D. Wolfgang, NCUA PRA Clearance Officer. [FR Doc. 2016–08876 Filed 4–15–16; 8:45 am] BILLING CODE 7535–01–P PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 NATIONAL CREDIT UNION ADMINISTRATION Sunshine Act Meeting 10:00 a.m., Thursday, April 21, 2016. PLACE: Board Room, 7th Floor, Room 7047, 1775 Duke Street (All visitors must use Diagonal Road Entrance), Alexandria, VA 22314–3428. STATUS: Open. MATTERS TO BE CONSIDERED: 1. National Credit Union Share Insurance Fund Quarterly Report. 2. NCUA’s Rules and Regulations, Incentive-Based Executive Compensation. 3. NCUA’s Rules and Regulations, Federal Credit Union Occupancy, Planning, and Disposal of Acquired and Abandoned Premises; Incidental Powers. RECESS: 11:00 a.m. TIME AND DATE: 11:15 a.m., Thursday, April 21, 2016. PLACE: Board Room, 7th Floor, Room 7047, 1775 Duke Street, Alexandria, VA 22314–3428. STATUS: Closed. MATTERS TO BE CONSIDERED: 1. Supervisory Matter. Closed pursuant to Exemption (8). FOR FURTHER INFORMATION CONTACT: Gerard Poliquin, Secretary of the Board, Telephone: 703–518–6304. TIME AND DATE: Gerard Poliquin, Secretary of the Board. [FR Doc. 2016–09039 Filed 4–14–16; 4:15 pm] BILLING CODE 7535–01–P NATIONAL FOUNDATION ON THE ARTS AND THE HUMANITIES National Endowment for the Humanities Meetings of Humanities Panel National Endowment for the Humanities, National Foundation on the Arts and the Humanities. ACTION: Notice of meetings. AGENCY: The National Endowment for the Humanities will hold three meetings of the Humanities Panel, a federal advisory committee, during May, 2016. The purpose of the meetings is for panel review, discussion, evaluation, and recommendation of applications for financial assistance under the National Foundation on the Arts and Humanities Act of 1965. DATES: See SUPPLEMENTARY INFORMATION section for meeting dates. SUMMARY: E:\FR\FM\18APN1.SGM 18APN1

Agencies

[Federal Register Volume 81, Number 74 (Monday, April 18, 2016)]
[Notices]
[Pages 22649-22650]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-08876]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities; Proposed Collections; 
Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

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SUMMARY: NCUA, as part of its continuing effort to reduce paperwork

[[Page 22650]]

and respondent burden, invites the general public and other Federal 
agencies to comment on these reinstatements of previously approved 
collections, as required by the Paperwork Reduction Act of 1995 (Pub. 
L. 104-13, 44 U.S.C. Chapter 35).

DATES: Comments should be received on or before June 17, 2016 to be 
assured consideration.

ADDRESSES: Interested persons are invited to submit written comments on 
the information collection to Troy Hillier, National Credit Union 
Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428; Fax 
No. 703-519-8595; or Email at PRAComments@NCUA.gov.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to the address above.

SUPPLEMENTARY INFORMATION:
    OMB Number: 3133-0092.
    Title: Loans to Members and Lines of Credit to Members, 12 CFR 
701.21 and 12 CFR 741.
    Abstract: Section 107(5) of the Federal Credit Union Act authorizes 
Federal Credit Unions to make loans to members and issue lines of 
credit (including credit cards) to members. Part 741 of NCUA's rules 
and regulations established requirements for all federally insured 
credit unions related to loans to members and lines of credit union 
members. Additionally, NCUA's rules and regulations at Sec.  701.21 
establish additional requirements related to loans to members and lines 
of credit to members for federal credit unions. These regulations 
include various information collections to ensure credit unions comply 
with applicable laws and operate in a safe and sound manner.
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Affected Public: Private sector: not-for-profit institutions.
    Estimated Number of Respondents: 3,856.
    Estimated Number of Responses per Respondent: 392.
    Estimated Burden Hours per Response: 0.28.
    Estimated Total Annual Burden Hours: 423,451.
    Reason for Change: NCUA is combining all of the information 
collection requirements associated with member loans (12 CFR 701.21 and 
the associated requirements in 12 CFR 741) under a single control 
number. Upon approval of the reinstatement, NCUA will discontinue use 
of two other control numbers (3133-0139 and 3133-0171) associated with 
this program.

    OMB Number: 3133-0127.
    Title: Purchase, Sale and Pledge of Eligible Obligations, 12 CFR 
701.23.
    Abstract: The Federal Credit Union Act limits the amount of 
eligible obligations a federal credit union is permitted to purchase, 
sell, pledge, discount, receive or dispose of under Section 107(13), 12 
U.S.C. 107. NCUA's rules and regulations further govern this limitation 
by prescribing additional requirements under Sec.  701.23. The various 
information collections are in place to ensure a federal credit union's 
activities related to the purchase, sale, and pledge of eligible 
obligations comply with applicable laws and are conducted in a safe and 
sound manner.
    Type of Review: Reinstatement without change of a previously 
approved collection.
    Affected Public: Private sector: not-for-profit institutions.
    Estimated Number of Respondents: 1,004.
    Estimated Number of Responses per Respondent: 38.
    Estimated Burden Hours per Response: 0.27.
    Estimated Total Annual Burden Hours: 10,540.
    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 Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on April 13, 2016.

    Dated: April 13, 2016.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-08876 Filed 4-15-16; 8:45 am]
BILLING CODE 7535-01-P
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