Agency Reorganization, 60290-60292 [2017-27411]
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60290
Federal Register / Vol. 82, No. 243 / Wednesday, December 20, 2017 / Rules and Regulations
insolvency category; 18 months for the
critically undercapitalized category; 36
months for the significantly
undercapitalized category; and 15
months for the proposed 208 assistance
category. The commenter said that
while it ‘‘supports the extensions and
additions suggested in the proposed
rule, it is recommended that a holistic
view of look-back and forecast
timeframes is important and suggests
that standardization of such timeframes
may assist the industry.’’ The Board
does not necessarily agree that
standardization of timeframes across
NCUA’s regulations relative to
capitalization and net worth is desirable
or would benefit credit unions. Further,
the Board believes this comment to
beyond the scope of this rulemaking.
IV. Regulatory Procedures
voluntarily complies with the executive
order. This rulemaking will not have a
substantial direct effect on the states, on
the connection between the national
government and the states, or on the
distribution of power and
responsibilities among the various
levels of government. The NCUA has
therefore determined that this final rule
does not constitute a policy that has
federalism implications for purposes of
the executive order.
D. Assessment of Federal Regulations
and Policies on Families
The NCUA has determined that this
final rule will not affect family wellbeing within the meaning of Section 654
of the Treasury and General
Government Appropriations Act,
1999.13
danger of insolvency’’ to read as
follows:
Appendix B to Part 701—Chartering
and Field of Membership Manual
*
*
*
*
A. Regulatory Flexibility Act
The Regulatory Flexibility Act
requires the NCUA to prepare an
analysis of any significant economic
impact a regulation may have on a
substantial number of small entities
(primarily those under $100 million in
assets).10 This final rule merely provides
the NCUA greater flexibility to authorize
emergency mergers and will not have a
significant economic impact on a
substantial number of small credit
unions. Accordingly, the NCUA certifies
that the final rule will not have a
significant economic impact on a
substantial number of small credit
unions.
E. Small Business Regulatory
Enforcement Fairness Act
B. Paperwork Reduction Act
The Paperwork Reduction Act of 1995
(PRA) applies to rulemakings in which
an agency creates new or amends
existing information collection
requirements.11 For the purpose of the
PRA, an information collection
requirement may take the form of a
reporting, recordkeeping, or a thirdparty disclosure requirement. The final
rule does not contain information
collection requirements that require
approval by OMB under the PRA.12 The
final rule will merely provide the NCUA
greater flexibility to authorize
emergency mergers.
ethrower on DSK3G9T082PROD with RULES
*
In danger of insolvency—In making the
determination that a particular credit union
is in danger of insolvency, NCUA will
establish that the credit union falls into one
or more of the following categories:
1. The credit union’s net worth is declining
at a rate that will render it insolvent within
30 months. In projecting future net worth,
NCUA may rely on data in addition to Call
Report data. The trend must be supported by
at least 12 months of historic data.
2. The credit union’s net worth is declining
at a rate that will take it under two percent
(2%) net worth within 18 months. In
projecting future net worth, NCUA may rely
on data in addition to Call Report data. The
trend must be supported by at least 12
months of historic data.
3. The credit union’s net worth, as selfreported on its Call Report, is significantly
undercapitalized, and NCUA determines that
there is no reasonable prospect of the credit
union becoming adequately capitalized in the
succeeding 36 months. In making its
determination on the prospect of achieving
adequate capitalization, NCUA will assume
that, if adverse economic conditions are
affecting the value of the credit union’s assets
and liabilities, including property values and
loan delinquencies related to unemployment,
these adverse conditions will not further
deteriorate.
4. The credit union has been granted or
received assistance under section 208 of the
Federal Credit Union Act, 12 U.S.C. 1788, in
the 15 months prior to the Region’s
determination that the credit union is in
danger of insolvency.
Credit, Credit unions, Reporting and
recordkeeping requirements.
*
By the National Credit Union
Administration Board on December 14, 2017.
Gerard Poliquin,
Secretary of the Board.
BILLING CODE 7535–01–P
C. Executive Order 13132
Executive Order 13132 encourages
independent regulatory agencies to
consider the impact of their actions on
state and local interests. In adherence to
fundamental federalism principles, the
NCUA, an independent regulatory
agency as defined in 44 U.S.C. 3502(5),
10 5
U.S.C. 603(a).
U.S.C. 3507(d); 5 CFR part 1320.
12 44 U.S.C. chap. 35.
The Small Business Regulatory
Enforcement Fairness Act of 1996 (Pub.
L. 104–121) (SBREFA) provides
generally for congressional review of
agency rules. A reporting requirement is
triggered in instances where the NCUA
issues a final rule as defined by Section
551 of the Administrative Procedure
Act. The NCUA does not believe this
final rule is a ‘‘major rule’’ within the
meaning of the relevant sections of
SBREFA. As required by SBREFA, the
NCUA has filed the appropriate reports
so that this final rule may be reviewed.
List of Subjects in 12 CFR Part 701
For the reasons discussed above, the
NCUA Board amends 12 CFR part 701
as follows:
PART 701—ORGANIZATION AND
OPERATION OF FEDERAL CREDIT
UNIONS
16:19 Dec 19, 2017
Jkt 244001
*
*
*
NATIONAL CREDIT UNION
ADMINISTRATION
12 CFR Parts 701, 705, 708a, 708b, and
790
RIN 3133–AE81
Agency Reorganization
National Credit Union
Administration (NCUA).
ACTION: Final rule.
AGENCY:
1. The authority citation for part 701
is revised to read as follows:
■
Authority: 12 U.S.C. 1752(5), 1755, 1756,
1757, 1758, 1759, 1761a, 1761b, 1766, 1767,
1782, 1784, 1785, 1786, 1787, 1788, 1789.
Section 701.6 is also authorized by 15 U.S.C.
3717. Section 701.31 is also authorized by 15
U.S.C. 1601 et seq.; 42 U.S.C. 1981 and 3601–
3610. Section 701.35 is also authorized by 42
U.S.C. 4311–4312.
2. In appendix B to part 701, in the
glossary, revise the definition of ‘‘in
■
11 44
VerDate Sep<11>2014
*
[FR Doc. 2017–27410 Filed 12–19–17; 8:45 am]
13 Public
PO 00000
Law 105–277, 112 Stat. 2681 (1998).
Frm 00010
Fmt 4700
Sfmt 4700
The NCUA Board (‘‘Board’’) is
issuing a final rule to implement certain
features of the NCUA reorganization
that the Board announced earlier this
year. This rule amends the NCUA’s
regulations related to the organization of
the NCUA’s Central Office.
DATES: This rule is effective January 6,
2018.
FOR FURTHER INFORMATION CONTACT:
Elizabeth Wirick, Senior Staff Attorney,
SUMMARY:
E:\FR\FM\20DER1.SGM
20DER1
Federal Register / Vol. 82, No. 243 / Wednesday, December 20, 2017 / Rules and Regulations
addresses the NCUA’s organization and
structure.2
Office of General Counsel, 1775 Duke
Street, Alexandria, VA 22314 or
telephone (703) 518–6540.
SUPPLEMENTARY INFORMATION:
I. Background
In July 2017, the Board announced a
plan to streamline and consolidate
certain of the NCUA’s functions and
offices in an effort to reduce the NCUA’s
budget and increase efficiency. The
portions of the Board’s reorganization
plan reflected in this rule will:
• Eliminate the Office of Small Credit
Union Initiatives;
• Rename the Office of Consumer
Financial Protection and Access the
‘‘Office of Consumer Financial
Protection;’’ and
• Create a new office named the
‘‘Office of Credit Union Resources and
Expansion’’ to absorb: (1) Most of the
current functions of the Office of Small
Credit Union Initiatives; (2) the federal
credit union chartering and field of
membership functions of the Office of
Consumer Financial Protection; and (3)
the minority depository institution
preservation program of the Office of
Minority and Women Inclusion.
Other aspects of the Board’s
reorganization plan, such as changes
affecting the Office of Examination and
Insurance, do not require regulatory
changes.
The rule also makes a technical
correction to the definition of ‘‘Regional
Director’’ in the NCUA’s voluntary
merger regulation to reflect the fact that
the Office of National Examinations and
Supervision supervises natural person
credit unions with assets of $10 billion
or more as well as corporate credit
unions.
Additionally, the changes articulated
in this rulemaking relate only to
changes in the organization of the
NCUA’s Central Office, which become
effective January 6, 2018. The two
NCUA Regional Offices that are to be
eliminated under the reorganization
plan will not be closed until December
31, 2018. The Board will issue another
rule in 2018 to reflect the reduction in
the number of NCUA Regional Offices
beginning in 2019.
II. Regulatory Procedures
ethrower on DSK3G9T082PROD with RULES
1. Final Rule Under the Administrative
Procedure Act (APA)
Generally, the APA requires a federal
agency to provide the public with notice
and an opportunity to comment on
agency rulemakings.1 This rule is
exempt from the APA’s notice and
comment requirement because it only
15
U.S.C. 553(b).
VerDate Sep<11>2014
16:19 Dec 19, 2017
Jkt 244001
2. Effective Date
The APA also generally requires
publication of a rule in the Federal
Register at least 30 days before the
effective date of the rule. Agencies can
dispense with the 30-day requirement
for good cause.3 The NCUA finds good
cause to dispense with the 30-day
effective date requirement, as this rule
is technical rather than substantive. The
rule will, therefore, be effective January
6, 2018 to coincide with the
implementation of the NCUA’s
reorganization plan.
3. Small Business Regulatory
Enforcement Fairness Act
The Small Business Regulatory
Enforcement Fairness Act of 1996 4
(SBREFA) provides generally for
congressional review of agency rules. A
reporting requirement is triggered in
instances where the NCUA issues a final
rule as defined by Section 551 of the
APA.5 As required by SBREFA, the
NCUA has submitted this rule to the
Office of Management and Budget for it
to determine if the final rule is a ‘‘major
rule’’ for purposes of SBREFA. The
NCUA does not believe the rule is
major.
4. Regulatory Flexibility Act
The Regulatory Flexibility Act
requires the NCUA to prepare an
analysis of any significant economic
impact a regulation may have on a
substantial number of small entities
(primarily those under $100 million in
assets).6 This final rule will not have a
significant economic impact on small
credit unions as it addresses only the
NCUA’s internal organization.
Accordingly, the NCUA certifies the
rule will not have a significant
economic impact on a substantial
number of small credit unions.
5. Paperwork Reduction Act
The Paperwork Reduction Act of 1995
(PRA) applies to rulemakings in which
an agency by rule creates a new
paperwork burden on regulated entities
or increases an existing burden.7 For
purposes of the PRA, a paperwork
burden may take the form of a reporting
or recordkeeping requirement, both
referred to as information collections.
As the final rule simply conforms the
NCUA’s regulations to reflect its new
2 Id.
(b)(A).
553(d)(3).
4 Public Law 104–121.
5 5 U.S.C. 551.
6 5 U.S.C. 603(a).
7 44 U.S.C. 3507(d); 5 CFR part 1320.
3 Id.
PO 00000
Frm 00011
Fmt 4700
Sfmt 4700
60291
organizational structure, the NCUA has
determined it does not increase
paperwork requirements under the PRA.
6. Executive Order 13132
Executive Order 13132 encourages
independent regulatory agencies to
consider the impact of their actions on
state and local interests. The NCUA, an
independent regulatory agency as
defined in 44 U.S.C. 3502(5), voluntarily
complies with the executive order to
adhere to fundamental federalism
principles. The final rule does not have
substantial direct effects on the states,
on the relationship between the national
government and the states, or on the
distribution of power and
responsibilities among the various
levels of government. The NCUA has
therefore determined that this final rule
does not constitute a policy that has
federalism implications for purposes of
the executive order.
7. Assessment of Federal Regulations
and Policies on Families
The NCUA has determined that this
rule will not affect family well-being
within the meaning of § 654 of the
Treasury and General Government
Appropriations Act, 1999, Public Law
105–277, 112 Stat. 2681 (1998).
List of Subjects
12 CFR Part 701
Credit unions, Chartering, Field of
membership.
12 CFR Part 705
Credit unions, Grants, Loans, Lowincome credit unions, Revolving fund.
12 CFR Part 708a
Credit unions, Charter conversions.
12 CFR Part 708b
Credit unions, Mergers of credit
unions.
12 CFR Part 790
Organization and functions
(Government agencies).
By the National Credit Union
Administration Board on December 14, 2017.
Gerard Poliquin,
Secretary of the Board.
For the reasons discussed above, the
National Credit Union Administration
amends 12 CFR parts 701, 705, 708a,
708b, and 790 as follows:
PART 701—ORGANIZATION AND
OPERATION OF FEDERAL CREDIT
UNIONS
1. The authority citation for part 701
continues to read as follows:
■
E:\FR\FM\20DER1.SGM
20DER1
60292
Federal Register / Vol. 82, No. 243 / Wednesday, December 20, 2017 / Rules and Regulations
Authority: 12 U.S.C. 1752(5), 1755, 1756,
1757, 1758, 1759, 1761a, 1761b, 1766, 1767,
1782, 1784, 1786, 1787, 1789. Section 701.6
is also authorized by 15 U.S.C. 3717. Section
701.31 is also authorized by 15 U.S.C. 1601
et seq.; 42 U.S.C. 1981 and 3601–3610.
Section 701.35 is also authorized by 42
U.S.C. 4311–4312.
Appendix B to Part 701 [Amended]
2. In appendix B to part 701, remove
the term ‘‘Office of Consumer Financial
Protection and Access’’ wherever it
appears and add in its place the term
‘‘Office of Credit Union Resources and
Expansion’’.
■
PART 705—COMMUNITY
DEVELOPMENT REVOLVING LOAN
FUND FOR CREDIT UNIONS
10. In § 790.2, revise the second
sentence of paragraph (b)(6), paragraph
(b)(12), the third sentence of paragraph
(b)(13), and paragraph (b)(15) to read as
follows:
Authority: 12 U.S.C. 1756, 1757, 1766,
1782, 1784, 1785, 1786.
4. In § 705.5, in paragraph (d), remove
the term ‘‘Office of Small Credit Union
Initiatives’’ and add in its place the term
‘‘Office of Credit Union Resources and
Expansion’’.
■
PART 708a—BANK CONVERSIONS
AND MERGERS
5. The authority citation for part 708a
continues to read as follows:
■
Authority: 12 U.S.C. 1766, 1785(b), and
1785(c).
6. In § 708a.101, revise the first
sentence of the definition of ‘‘Regional
Director’’ to read as follows:
■
Definitions.
*
*
*
*
*
Regional Director means either the
director for the NCUA Regional Office
for the region where a natural person
credit union’s main office is located or
the director of the NCUA’s Office of
Credit Union Resources and
Expansion. * * *
*
*
*
*
*
PART 708b—MERGERS OF
FEDERALLY-INSURED CREDIT
UNIONS; VOLUNTARY TERMINATION
OR CONVERSION OF INSURED
STATUS
7. The authority citation for part 708b
continues to read as follows:
■
ethrower on DSK3G9T082PROD with RULES
Authority: 12 U.S.C. 1752(7), 1766, 1785,
1786, and 1789.
8. In § 708b.2, revise the definition of
‘‘Regional Director’’ to read as follows:
§ 708b.2
Definitions.
*
*
*
*
*
Regional Director means either the
director for the NCUA Regional Office
VerDate Sep<11>2014
16:19 Dec 19, 2017
Jkt 244001
9. The authority citation for part 790
continues to read as follows:
■
■
3. The authority citation for part 705
continues to read as follows:
■
PART 790—DESCRIPTION OF NCUA;
REQUEST FOR AGENCY ACTION
Authority: 12 U.S.C. 1766, 1789, 1795f.
■
§ 708a.101
for the region where a natural person
credit union’s main office is located or
the director of the NCUA’s Office of
Credit Union Resources and Expansion.
For corporate credit unions and natural
person credit unions with $10 billion or
more in assets, Regional Director means
the director of the NCUA’s Office of
National Examinations and Supervision.
*
*
*
*
*
§ 790.2 Central and field office
organization.
*
*
*
*
*
(b) * * *
(6) * * * The Executive Director
translates the NCUA Board policy
decisions into workable programs,
delegates responsibility for these
programs to appropriate staff members,
and coordinates the activities of the
senior executive staff, which includes:
The General Counsel; the Regional
Directors; and the Office Directors for
the Asset Management and Assistance
Center, Chief Economist, Chief
Financial Officer, Chief Information
Officer, Consumer Financial Protection,
Continuity and Security Management,
Credit Union Resources and Expansion,
Examination and Insurance, Human
Resources, Minority and Women
Inclusion, National Examinations and
Supervision, and Public and
Congressional Affairs. * * *
*
*
*
*
*
(12) Credit Union Resources and
Expansion. This Office is responsible
for coordinating NCUA policy and
actions related to credit union
chartering and field of membership, low
income designation, and preserving
credit unions run by minorities and/or
serving minorities. The Office
administers the Community
Development Revolving Loan Program
for Credit Unions (Program). This
Program is funded from congressional
appropriations and serves as a source of
financial support, in the form of
technical assistance grants and loans to
low-income credit unions serving
predominantly low-income members.
The Program is governed by part 705 of
subchapter A of this chapter.
*
*
*
*
*
PO 00000
Frm 00012
Fmt 4700
Sfmt 4700
(13) Office of Minority and Women
Inclusion. * * * Specific duties of the
Office include developing and
implementing standards for: Equal
employment opportunity and the racial,
ethnic, and gender diversity of the
workforce and senior management of
the NCUA; increased participation of
minority-owned and women-owned
businesses in the programs and
contracts of the NCUA, including
standards for coordinating technical
assistance to such businesses; and
assessing the diversity policies and
practices of credit unions regulated by
the NCUA. * * *
*
*
*
*
*
(15) Office of Consumer Financial
Protection. (i) The Office of Consumer
Financial Protection contains two
divisions:
(A) The Division of Consumer
Compliance Policy and Outreach; and
(B) The Division of Consumer Affairs;
(ii) The Office provides consumer
financial services, including consumer
education and complaint resolution;
establishes, consolidates, and
coordinates consumer financial
protections within the agency; oversees
the agency’s fair lending examination
program; and acts as the central liaison
on consumer financial protection with
other federal agencies.
*
*
*
*
*
[FR Doc. 2017–27411 Filed 12–19–17; 8:45 am]
BILLING CODE 7535–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 39
[Docket No. FAA–2017–0671; Product
Identifier 2016–SW–072–AD; Amendment
39–19135; AD 2017–26–04]
RIN 2120–AA64
Airworthiness Directives; Airbus
Helicopters (Previously Eurocopter
France)
Federal Aviation
Administration (FAA), DOT.
ACTION: Final rule.
AGENCY:
We are superseding
Airworthiness Directive (AD) 2009–25–
07 for Airbus Helicopters Model
EC120B helicopters. AD 2009–25–07
required amending the rotorcraft flight
manual supplement (RFMS) and preflight checking the emergency flotation
gear before each flight over water. Since
we issued AD 2009–25–07, Airbus
Helicopters developed a terminating
action and identified an additional part-
SUMMARY:
E:\FR\FM\20DER1.SGM
20DER1
]]>Agencies
[Federal Register Volume 82, Number 243 (Wednesday, December 20, 2017)]
[Rules and Regulations]
[Pages 60290-60292]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-27411]
-----------------------------------------------------------------------
NATIONAL CREDIT UNION ADMINISTRATION
12 CFR Parts 701, 705, 708a, 708b, and 790
RIN 3133-AE81
Agency Reorganization
AGENCY: National Credit Union Administration (NCUA).
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The NCUA Board (``Board'') is issuing a final rule to
implement certain features of the NCUA reorganization that the Board
announced earlier this year. This rule amends the NCUA's regulations
related to the organization of the NCUA's Central Office.
DATES: This rule is effective January 6, 2018.
FOR FURTHER INFORMATION CONTACT: Elizabeth Wirick, Senior Staff
Attorney,
[[Page 60291]]
Office of General Counsel, 1775 Duke Street, Alexandria, VA 22314 or
telephone (703) 518-6540.
SUPPLEMENTARY INFORMATION:
I. Background
In July 2017, the Board announced a plan to streamline and
consolidate certain of the NCUA's functions and offices in an effort to
reduce the NCUA's budget and increase efficiency. The portions of the
Board's reorganization plan reflected in this rule will:
Eliminate the Office of Small Credit Union Initiatives;
Rename the Office of Consumer Financial Protection and
Access the ``Office of Consumer Financial Protection;'' and
Create a new office named the ``Office of Credit Union
Resources and Expansion'' to absorb: (1) Most of the current functions
of the Office of Small Credit Union Initiatives; (2) the federal credit
union chartering and field of membership functions of the Office of
Consumer Financial Protection; and (3) the minority depository
institution preservation program of the Office of Minority and Women
Inclusion.
Other aspects of the Board's reorganization plan, such as changes
affecting the Office of Examination and Insurance, do not require
regulatory changes.
The rule also makes a technical correction to the definition of
``Regional Director'' in the NCUA's voluntary merger regulation to
reflect the fact that the Office of National Examinations and
Supervision supervises natural person credit unions with assets of $10
billion or more as well as corporate credit unions.
Additionally, the changes articulated in this rulemaking relate
only to changes in the organization of the NCUA's Central Office, which
become effective January 6, 2018. The two NCUA Regional Offices that
are to be eliminated under the reorganization plan will not be closed
until December 31, 2018. The Board will issue another rule in 2018 to
reflect the reduction in the number of NCUA Regional Offices beginning
in 2019.
II. Regulatory Procedures
1. Final Rule Under the Administrative Procedure Act (APA)
Generally, the APA requires a federal agency to provide the public
with notice and an opportunity to comment on agency rulemakings.\1\
This rule is exempt from the APA's notice and comment requirement
because it only addresses the NCUA's organization and structure.\2\
---------------------------------------------------------------------------
\1\ 5 U.S.C. 553(b).
\2\ Id. (b)(A).
---------------------------------------------------------------------------
2. Effective Date
The APA also generally requires publication of a rule in the
Federal Register at least 30 days before the effective date of the
rule. Agencies can dispense with the 30-day requirement for good
cause.\3\ The NCUA finds good cause to dispense with the 30-day
effective date requirement, as this rule is technical rather than
substantive. The rule will, therefore, be effective January 6, 2018 to
coincide with the implementation of the NCUA's reorganization plan.
---------------------------------------------------------------------------
\3\ Id. 553(d)(3).
---------------------------------------------------------------------------
3. Small Business Regulatory Enforcement Fairness Act
The Small Business Regulatory Enforcement Fairness Act of 1996 \4\
(SBREFA) provides generally for congressional review of agency rules. A
reporting requirement is triggered in instances where the NCUA issues a
final rule as defined by Section 551 of the APA.\5\ As required by
SBREFA, the NCUA has submitted this rule to the Office of Management
and Budget for it to determine if the final rule is a ``major rule''
for purposes of SBREFA. The NCUA does not believe the rule is major.
---------------------------------------------------------------------------
\4\ Public Law 104-121.
\5\ 5 U.S.C. 551.
---------------------------------------------------------------------------
4. Regulatory Flexibility Act
The Regulatory Flexibility Act requires the NCUA to prepare an
analysis of any significant economic impact a regulation may have on a
substantial number of small entities (primarily those under $100
million in assets).\6\ This final rule will not have a significant
economic impact on small credit unions as it addresses only the NCUA's
internal organization. Accordingly, the NCUA certifies the rule will
not have a significant economic impact on a substantial number of small
credit unions.
---------------------------------------------------------------------------
\6\ 5 U.S.C. 603(a).
---------------------------------------------------------------------------
5. Paperwork Reduction Act
The Paperwork Reduction Act of 1995 (PRA) applies to rulemakings in
which an agency by rule creates a new paperwork burden on regulated
entities or increases an existing burden.\7\ For purposes of the PRA, a
paperwork burden may take the form of a reporting or recordkeeping
requirement, both referred to as information collections. As the final
rule simply conforms the NCUA's regulations to reflect its new
organizational structure, the NCUA has determined it does not increase
paperwork requirements under the PRA.
---------------------------------------------------------------------------
\7\ 44 U.S.C. 3507(d); 5 CFR part 1320.
---------------------------------------------------------------------------
6. Executive Order 13132
Executive Order 13132 encourages independent regulatory agencies to
consider the impact of their actions on state and local interests. The
NCUA, an independent regulatory agency as defined in 44 U.S.C. 3502(5),
voluntarily complies with the executive order to adhere to fundamental
federalism principles. The final rule does not have substantial direct
effects on the states, on the relationship between the national
government and the states, or on the distribution of power and
responsibilities among the various levels of government. The NCUA has
therefore determined that this final rule does not constitute a policy
that has federalism implications for purposes of the executive order.
7. Assessment of Federal Regulations and Policies on Families
The NCUA has determined that this rule will not affect family well-
being within the meaning of Sec. 654 of the Treasury and General
Government Appropriations Act, 1999, Public Law 105-277, 112 Stat. 2681
(1998).
List of Subjects
12 CFR Part 701
Credit unions, Chartering, Field of membership.
12 CFR Part 705
Credit unions, Grants, Loans, Low-income credit unions, Revolving
fund.
12 CFR Part 708a
Credit unions, Charter conversions.
12 CFR Part 708b
Credit unions, Mergers of credit unions.
12 CFR Part 790
Organization and functions (Government agencies).
By the National Credit Union Administration Board on December
14, 2017.
Gerard Poliquin,
Secretary of the Board.
For the reasons discussed above, the National Credit Union
Administration amends 12 CFR parts 701, 705, 708a, 708b, and 790 as
follows:
PART 701--ORGANIZATION AND OPERATION OF FEDERAL CREDIT UNIONS
0
1. The authority citation for part 701 continues to read as follows:
[[Page 60292]]
Authority: 12 U.S.C. 1752(5), 1755, 1756, 1757, 1758, 1759,
1761a, 1761b, 1766, 1767, 1782, 1784, 1786, 1787, 1789. Section
701.6 is also authorized by 15 U.S.C. 3717. Section 701.31 is also
authorized by 15 U.S.C. 1601 et seq.; 42 U.S.C. 1981 and 3601-3610.
Section 701.35 is also authorized by 42 U.S.C. 4311-4312.
Appendix B to Part 701 [Amended]
0
2. In appendix B to part 701, remove the term ``Office of Consumer
Financial Protection and Access'' wherever it appears and add in its
place the term ``Office of Credit Union Resources and Expansion''.
PART 705--COMMUNITY DEVELOPMENT REVOLVING LOAN FUND FOR CREDIT
UNIONS
0
3. The authority citation for part 705 continues to read as follows:
Authority: 12 U.S.C. 1756, 1757, 1766, 1782, 1784, 1785, 1786.
0
4. In Sec. 705.5, in paragraph (d), remove the term ``Office of Small
Credit Union Initiatives'' and add in its place the term ``Office of
Credit Union Resources and Expansion''.
PART 708a--BANK CONVERSIONS AND MERGERS
0
5. The authority citation for part 708a continues to read as follows:
Authority: 12 U.S.C. 1766, 1785(b), and 1785(c).
0
6. In Sec. 708a.101, revise the first sentence of the definition of
``Regional Director'' to read as follows:
Sec. 708a.101 Definitions.
* * * * *
Regional Director means either the director for the NCUA Regional
Office for the region where a natural person credit union's main office
is located or the director of the NCUA's Office of Credit Union
Resources and Expansion. * * *
* * * * *
PART 708b--MERGERS OF FEDERALLY-INSURED CREDIT UNIONS; VOLUNTARY
TERMINATION OR CONVERSION OF INSURED STATUS
0
7. The authority citation for part 708b continues to read as follows:
Authority: 12 U.S.C. 1752(7), 1766, 1785, 1786, and 1789.
0
8. In Sec. 708b.2, revise the definition of ``Regional Director'' to
read as follows:
Sec. 708b.2 Definitions.
* * * * *
Regional Director means either the director for the NCUA Regional
Office for the region where a natural person credit union's main office
is located or the director of the NCUA's Office of Credit Union
Resources and Expansion. For corporate credit unions and natural person
credit unions with $10 billion or more in assets, Regional Director
means the director of the NCUA's Office of National Examinations and
Supervision.
* * * * *
PART 790--DESCRIPTION OF NCUA; REQUEST FOR AGENCY ACTION
0
9. The authority citation for part 790 continues to read as follows:
Authority: 12 U.S.C. 1766, 1789, 1795f.
0
10. In Sec. 790.2, revise the second sentence of paragraph (b)(6),
paragraph (b)(12), the third sentence of paragraph (b)(13), and
paragraph (b)(15) to read as follows:
Sec. 790.2 Central and field office organization.
* * * * *
(b) * * *
(6) * * * The Executive Director translates the NCUA Board policy
decisions into workable programs, delegates responsibility for these
programs to appropriate staff members, and coordinates the activities
of the senior executive staff, which includes: The General Counsel; the
Regional Directors; and the Office Directors for the Asset Management
and Assistance Center, Chief Economist, Chief Financial Officer, Chief
Information Officer, Consumer Financial Protection, Continuity and
Security Management, Credit Union Resources and Expansion, Examination
and Insurance, Human Resources, Minority and Women Inclusion, National
Examinations and Supervision, and Public and Congressional Affairs. * *
*
* * * * *
(12) Credit Union Resources and Expansion. This Office is
responsible for coordinating NCUA policy and actions related to credit
union chartering and field of membership, low income designation, and
preserving credit unions run by minorities and/or serving minorities.
The Office administers the Community Development Revolving Loan Program
for Credit Unions (Program). This Program is funded from congressional
appropriations and serves as a source of financial support, in the form
of technical assistance grants and loans to low-income credit unions
serving predominantly low-income members. The Program is governed by
part 705 of subchapter A of this chapter.
* * * * *
(13) Office of Minority and Women Inclusion. * * * Specific duties
of the Office include developing and implementing standards for: Equal
employment opportunity and the racial, ethnic, and gender diversity of
the workforce and senior management of the NCUA; increased
participation of minority-owned and women-owned businesses in the
programs and contracts of the NCUA, including standards for
coordinating technical assistance to such businesses; and assessing the
diversity policies and practices of credit unions regulated by the
NCUA. * * *
* * * * *
(15) Office of Consumer Financial Protection. (i) The Office of
Consumer Financial Protection contains two divisions:
(A) The Division of Consumer Compliance Policy and Outreach; and
(B) The Division of Consumer Affairs;
(ii) The Office provides consumer financial services, including
consumer education and complaint resolution; establishes, consolidates,
and coordinates consumer financial protections within the agency;
oversees the agency's fair lending examination program; and acts as the
central liaison on consumer financial protection with other federal
agencies.
* * * * *
[FR Doc. 2017-27411 Filed 12-19-17; 8:45 am]
BILLING CODE 7535-01-P
