Minority Depository Institution Preservation Program, 42105-42109 [2023-13848]
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Federal Register / Vol. 88, No. 124 / Thursday, June 29, 2023 / Notices
You may submit comment
as follows. Please note that late,
untimely filed comments will not be
considered.
Written/Paper Submissions: Submit
written/paper submissions in the
following way:
• Mail/Hand Delivery: Mail or visit
DOL–OWCP, Office of Workers’
Compensation Programs, U.S.
Department of Labor, 200 Constitution
Ave. NW, Room S–3323, Washington,
DC 20210.
• OWCP will post your comment as
well as any attachments, except for
information submitted and marked as
confidential, in the docket at https://
www.regulations.gov.
ADDRESSES:
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FOR FURTHER INFORMATION CONTACT:
Anjanette Suggs, Office of Workers’
Compensation Programs, at
suggs.anjanette@dol.gov (email) or by
telephone at (202) 354–9660 (this is not
a toll-free number).
SUPPLEMENTARY INFORMATION:
I. Background: The Office of Workers’
Compensation Programs (OWCP) is the
agency responsible for administration of
the Federal Employees’ Compensation
Act (FECA), 5 U.S.C. 8101 et seq., the
Black Lung Benefits Act (BLBA), 30
U.S.C. 901 et seq., and the Energy
Employees Occupational Illness
Compensation Program Act of 2000
(EEOICPA), 42 U.S.C. 7384 et seq. These
statutes require OWCP to pay for
appropriate medical and vocational
rehabilitation services provided to
beneficiaries. In order for OWCP’s
billing contractor to pay providers of
these services with its automated bill
processing system, providers must
‘‘enroll’’ with one or more of the OWCP
programs that administer the statutes by
submitting certain profile information,
including identifying information, tax
I.D. information, and whether they
possess specialty or sub-specialty
training. Form OWCP–1168 is used to
obtain this information from each
provider. This information collection is
currently approved for use through
December 31, 2023.
II. Desired Focus of Comments: OWCP
is soliciting comments concerning the
proposed information collection (ICR)
titled ‘‘Provider Enrollment Form’’, PE–
1164. The Department of Labor is
particularly interested in comments
which:
• Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
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proposed collection of information,
including the validity of the
methodology and assumptions used in
the estimate;
• Suggest methods to enhance the
quality, utility and clarity of the
information to be collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submissions
of responses.
Background documents related to this
information collection request are
available at https://regulations.gov and
at DOL–OWCP located at 200
Constitution Avenue NW, Room S3323,
Washington, DC 20210. Questions about
the information collection requirements
may be directed to the person listed in
the FOR FURTHER INFORMATION section of
this notice.
III. Current Actions: This information
collection request concerns the Provider
Enrollment Form, PE–1164. OWCP has
updated the data with respect to the
number of respondents, responses,
burden hours, and burden costs
supporting the information collection
requests from the previous information
request.
Type of Review: Extension.
Agency: Office of Workers’
Compensation Programs.
Title: Provider Enrollment Form.
OMB Number: 1240–0021.
Agency Number: OWCP–1168.
Affected Public: Businesses or other
for-profit.
Total Respondents: 23,318.
Total Responses: 23,318.
Time per Response: 25 minutes.
Estimated Total Burden Hours: 9,719.
Total Burden Cost (capital/startup):
$0.
Total Burden Cost (operating/
maintenance): $201,601.81.
Comments submitted in response to
this notice will be summarized in the
request for Office of Management and
Budget approval of the information
collection request; they will also
become a matter of public record and
will be available at https://reginfo.gov.
Anjanette C. Suggs,
Agency Clearance Officer, Office of Workers’
Compensation Programs, US Department of
Labor.
42105
NATIONAL CREDIT UNION
ADMINISTRATION
[NCUA–2023–0070]
Minority Depository Institution
Preservation Program
National Credit Union
Administration (NCUA).
ACTION: Proposed interpretive ruling and
policy statement.
AGENCY:
The NCUA Board is issuing
proposed revisions to Interpretive
Ruling and Policy Statement 13–1,
regarding the Minority Depository
Institution Preservation Program for
credit unions.
DATES: Comments must be received on
or before August 28, 2023.
ADDRESSES: You may submit comments
by any of the following methods (Please
send comments by one method only):
• Federal eRulemaking Portal:
https://www.regulations.gov/. Follow
the instructions for submitting
comments for Docket Number NCUA–
2023–XXXX.
• NCUA website: Rulemakings and
Proposals for Comment | NCUA. Follow
the instructions for submitting
comments.
• USPS/Hand Delivery/Courier:
Address to Melane Conyers-Ausbrooks,
Secretary of the Board, National Credit
Union Administration, 1775 Duke
Street, Alexandria, Virginia 22314–
3428.
Public Inspection: You may view all
public comments on the Federal
eRulemaking Portal at https://
www.regulations.gov, as submitted,
except for those we cannot post for
technical reasons. The NCUA will not
edit or remove any identifying or
contact information from the public
comments submitted. If you are unable
to access public comments on the
internet, you may contact the NCUA for
alternative access by calling (703) 518–
6540 or emailing OGCMail@ncua.gov.
FOR FURTHER INFORMATION CONTACT:
Supervisory Program Manager Kristi
Kubista-Hovis or Program Manager
Pamela Williams, Office of Credit Union
Resources and Expansion, 703–518–
6610 or CUREMDI@ncua.gov.
SUMMARY:
I. Background
Congress enacted the Financial
Institutions Reform, Recovery, and
Enforcement Act of 1989 (FIRREA) in
response to the savings and loan
industry crisis.1 FIRREA included
provisions designed to encourage
Federal financial regulators to preserve
[FR Doc. 2023–13813 Filed 6–28–23; 8:45 am]
1 Public
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Law 101–73, 103 Stat. 183 (1989).
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and promote minority depository
institutions.2 Specifically, FIRREA
section 308 required the Secretary of the
Treasury to consult with the Office of
Thrift Supervision (OTS) and the
Federal Deposit Insurance Corporation
(FDIC) on best methods to achieve the
following goals:
• Preserving the number of minority
depository institutions;
• Preserving the minority character of
a minority depository institution
involved in a merger or acquisition;
• Providing technical assistance to
prevent the insolvency of minority
depository institutions;
• Encouraging the formation of new
minority depository institutions; and
• Providing training, technical
assistance, and educational programs to
minority depository institutions.3
Those agencies developed various
initiatives aimed at preserving federally
insured banks and savings institutions
that meet FIRREA’s definition of a
minority depository institution (MDI).4
In 2010, Congress enacted the DoddFrank Wall Street Reform and Consumer
Protection Act (Dodd-Frank Act).5
Section 367(4)(A) of the Dodd-Frank Act
expanded FIRREA section 308 to require
the Secretary of the Treasury to consult
with the National Credit Union
Administration (NCUA) and the Board
of Governors of the Federal Reserve
System (Fed), in addition to the FDIC
and the Office of the Comptroller of the
Currency (OCC) on methods for best
achieving the FIRREA goals.6 Section
367(4)(B) of the Dodd-Frank Act also
amended FIRREA section 308 to require
each agency to submit an annual report
to Congress describing actions it has
taken to preserve and encourage MDIs.7
In 2013, the NCUA Board proposed
Interpretive Ruling and Policy
Statement (IRPS) 13–1 to establish a
Minority Depository Institution
Preservation Program (MDI Program) to
encourage the preservation of MDIs and
the establishment of new ones.8 In 2015,
the NCUA Board approved final IRPS
2 Id. Title III, sec. 308, 103 Stat. 353, codified at
12 U.S.C. 1463 note, ‘‘Preserving Minority
Ownership of Minority Financial Institutions.’’
3 Id. sec. (a). The Office of the Comptroller of the
Currency and the Board of Governors of the Federal
Reserve System also initiated minority depository
institution programs to comply with the spirit of
FIRREA sec. 308, even though neither was
originally required to do so. OTS became part of the
Office of the Comptroller of the Currency on July
21, 2011.
4 Id. sec. (b).
5 Public Law 111–203, 124 Stat. 1376 (July 21,
2010); 12 U.S.C. 5301 et seq.
6 12 U.S.C. 1463 note sec. (a).
7 Id. sec. (c).
8 78 FR 46374 (July 31, 2013).
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13–1, establishing the NCUA’s MDI
Program.9
The NCUA Board subsequently
restructured the agency in 2018. Among
other changes, the restructuring created
the Office of Credit Union Resources
and Expansion (CURE). CURE assumed
administration of the NCUA’s MDI
Program from the agency’s Office of
Minority and Women Inclusion.
II. Summary of Proposed Changes to
IRPS 13–1 and Request for Comments
The NCUA is proposing to amend
IRPS 13–1 to reflect changes to the
agency’s structure and current
administration of the MDI Program by
CURE and improve the MDI Program,
including: recognizing the transfer of
the MDI program administration to
CURE, incorporating recent program
initiatives, simplifying ‘‘community it
services, as designated in its charter’’ to
refer to an MDI’s field of membership,
referencing guidance the NCUA
provides examination staff who
continue to play a significant role in
supporting and guiding MDIs under
their supervision, explaining how the
NCUA will review an MDI’s designation
status during routine evaluations, and
adding new subsections on engagement,
technical assistance, MDI examinations,
Community Development Revolving
Loan Fund grants and loans, training
and education, and MDI preservation.
The Board invites comments on all
aspects of the proposed amendments to
the IRPS. Additionally, the agency
welcomes comments on any other
aspects of the IRPS and what additional
information the agency could provide to
help MDIs and how best to deliver the
information.
Authority: 12 U.S.C. 1463 note; Sec.
308, Pub. L. 101–73, 103 Stat. 353; as
amended by Sec. 367(4), Pub. L. 111–
203, 124 Stat. 1556.
III. Interpretive Ruling and Policy
Statement 13–1, Minority Depository
Institution Preservation Program, as
Amended
The text of IRPS 13–1, with proposed
amendments, follows:
a. Goals and Objectives of the MDI
Preservation Program
Minority Depository Institutions
(MDIs) play an important and unique
role in promoting the economic viability
of minority and underserved
communities. The NCUA employs
proactive steps and outreach efforts to
preserve MDIs and foster their success.
The NCUA’s MDI Preservation Program
(MDI Program) is designed to comply
9 80
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with section 308 of FIRREA, which
requires the NCUA to report on the
actions it has taken in furtherance of the
following goals:10
• Preserve the present number of
MDIs;
• Preserve the minority character of
MDIs involved in mergers and
acquisitions;
• Provide technical assistance to
prevent insolvency of MDIs that are not
now insolvent;
• Promote and encourage the creation
of new MDIs; and
• Provide training, technical
assistance, and educational programs for
MDIs.
b. Description of the MDI Program
The NCUA’s MDI Program consists of
proactive steps and outreach efforts to
promote and preserve MDIs in the credit
union system. The NCUA’s Office of
Credit Union Resources and Expansion
(CURE) administers the agency’s MDI
Program and will meet periodically with
State regulators, other Federal
regulators, and other stakeholders to
discuss outreach efforts, share ideas,
and identify areas to work together to
assist MDIs.
The NCUA offers MDI-designated
credit unions a variety of initiatives to
assist in preserving the economic
viability of their institutions. The
initiatives include technical assistance,
educational opportunities, and funding.
Examples of such initiatives include the
following:
• Consulting and support program;
• Training; and
• Grants and loans through the
NCUA’s Community Development
Revolving Loan Fund (CDRLF), subject
to eligibility.11
Examples of broad-based and
individualized technical assistance
include the following:
• Providing guidance in resolving
examination concerns;
• Helping MDIs locate new sponsors,
mentors, or merger partners;
• Assisting with field of membership
expansions;
• Supporting management in setting
up new programs and services;
• Attempting to preserve the minority
character of failing institutions during
the resolution process; and
• Aiding groups that are interested in
chartering a new MDI.
10 Public Law 101–73, title III, sec. 308, 103 Stat.
353 (1989), as amended by Public Law 111–203,
title III, sec. 367(4), 124 Stat. 1556 (2010), codified
at 12 U.S.C. 1463 note.
11 Prior to 2023, under the annual appropriations
statutes, grants and loans from the CDRLF were
historically only available to low-income
designated credit unions, some of which are also
MDIs. However, not all MDIs have a low-income
designation.
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Engagement With MDIs
The NCUA’s MDI Program will
provide continual engagement with
MDIs through interaction with
headquarters and field staff. This
interaction includes sharing information
and expertise on supervisory topics,
using various venues to engage in an
open dialogue between NCUA, MDIs,
and related organizations, seeking
feedback on the NCUA’s efforts under
the MDI program, and providing a
variety of training opportunities hosted
or sponsored by the NCUA. The NCUA’s
outreach also includes seeking out,
working with, and supporting groups
interested in applying for a new Federal
or State charter with an MDI
designation, and aiding existing credit
unions interested in receiving the MDI
designation.
Technical Assistance
The NCUA will provide technical
assistance to an MDI designated credit
union upon request. The agency
contacts each MDI at least annually to
ask if it would like to receive technical
assistance. Also, an MDI can contact its
assigned field office, supervisory
examiner, or district examiner to request
technical assistance.
Technical assistance is not an
examination or supervisory activity and
will be provided separate from
examinations and supervision contacts.
Technical assistance includes but is not
limited to assistance in understanding
applicable laws and regulations, agency
processes, reporting requirements,
supervisory guidance, accounting
standards, supervisory findings and
conclusions (only after the conclusion
of the applicable examination or
supervision contact), applications or
requests for agency approval or action
(such as field of membership, bidding
on a failing institution, regulatory
waivers, etc.), and assistance in
receiving an MDI designation. In
providing technical assistance, agency
staff will not perform tasks expected of
an institution’s management or
employees. And while they may help
the institution understand how to apply
for something or submit a bid, agency
staff will not assist or guide the
institution in developing the substance
of such application or bid.
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Examinations of MDIs
MDI-designated credit unions have a
unique role in promoting the economic
viability of minority and underserved
communities, at times necessitating
distinct approaches to taking and
managing the related financial and
operational risks. The NCUA expects
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examiners to recognize the distinctive
characteristics and differences in core
objectives of each financial institution
and consider these when evaluating the
institution’s financial and operational
condition and related management
practices. Examiners are able to evaluate
an MDI using peer metrics such as
through the Financial Performance
Report.
The NCUA provides examiners
guidance to educate them about the
unique challenges faced by MDIs and
the support and services the NCUA
offers to assist MDIs to address such
challenges. The guidance acknowledges,
at times, some MDIs may need more or
different support from the NCUA than
other credit unions. The guidance also
lists specific types of technical
assistance an MDI may request of the
NCUA. It also advises that MDIs often
have unique memberships and provide
financial services to consumers and
businesses in communities that might
not otherwise have access to another
federally insured financial institution.
Therefore, the policies, processes, risks,
and practices of MDIs may vary and
comparison to other credit unions based
solely on similar size may have limited
value. Instead, examiners are instructed
to assess each MDI based on its unique
strategy and membership.
CDRLF Grants and Loans
The CDRLF provides loans and grants
to low-income designated credit unions
to expand outreach to underserved
populations, improve digital services
and cybersecurity, to provide staff
training, and to support capacitybuilding programs for example. In 2023,
MDIs without the low-income
designation became eligible for CDRLF
grants and loans.12
Training and Education
The NCUA offers training to credit
unions through various formats such as
webinars, online courses, videos, and
in-person events. Through the Learning
Management System, the agency offers
training and educational resources to
credit union board members,
management, employees, and volunteers
online and at no charge. Examples of the
content provided include guidance on
credit union operations, compliance,
community partnerships, and strategic
planning.13
12 Refer to the Grants and Loans section of the
NCUA website for eligibility requirements in future
periods.
13 These training opportunities are accessible to
all credit unions through the Learning section the
NCUA’s website.
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42107
Preservation of MDIs
With regard to a potentially failing
MDI or the need for an assisted merger
of an MDI, as with any insured credit
union, the NCUA Board will consider
providing Section 208 assistance to
reduce the risk or avert a threatened loss
to the National Credit Union Share
Insurance Fund (NCUSIF), facilitate a
merger or consolidation, or to prevent
the closing of a credit union that the
Board determines is in danger of
closing.14 Requirements concerning
field of membership apply to most
mergers. In addition, the NCUA must
consider resolution costs and safety and
soundness implications for all mergers.
The NCUA will attempt to preserve
the minority character of failing MDIs
during the resolution process. In the
event of the potential failure of an MDI,
the agency will contact MDIs in the
NCUA’s merger registry that qualify to
bid on a particular failing institution.
Agency staff will solicit interest in
bidding on the failing MDI and offer
technical assistance to any MDI desiring
to bid. The NCUA will also provide
MDIs interested in submitting a bid with
an additional two weeks to submit a bid
whenever possible. Except in the cases
of conservatorships, liquidations, or
assisted mergers, the MDI’s board of
directors is generally the decision maker
on a merger partner provided the
selection is consistent with regulatory
and safety and soundness standards. For
conservatorships, liquidations, or
assisted mergers, in the selection
process, the NCUA will consider all the
requirements applicable to a merger or
purchase and assumption, including
FIRREA’s general preference
guidelines.15
c. MDI Designation Eligibility
The agency adopted the definition of
an MDI in FIRREA section 308 that
applies to a mutual institution.16
Accordingly, a credit union is eligible to
receive the MDI designation if it meets
all the following criteria:
• A majority of its current members
are from any of the eligible minority
groups;
• A majority of the members of its
board of directors are from any of the
eligible minority groups; and
14 12
U.S.C. 1788(a)(1)–(2).
the NCUA is involved in the
selection process when the transaction will cause
a loss to the Share Insurance Fund or when the
failing credit union is in conservatorship and the
NCUA Board is the conservator. For additional
information on the NCUA’s selection process, see
Letter to Credit Unions 10–CU–11, Information on
NCUA’s Merger and Purchase & Assumption
Process.
16 12 U.S.C. 1463 note sec. (b)(1)(C).
15 Generally,
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• A majority of the community it
services, as designated in its field of
membership, are from any of the eligible
minority groups.
For minority representation to be a
‘‘majority,’’ it must be greater than 50
percent.
The NCUA relies on the FIRREA
section 308 ‘‘minority’’ definition to
identify an eligible minority as any
Black American, Asian American,
Hispanic American, or Native
American.17 For the purpose of this
IRPS, Asian American includes anyone
who is Native Hawaiian or Other Pacific
Islander, and Native American includes
anyone who is American Indian or
Alaska Native. Also, for the purpose of
minority representation under the MDI
definition, an individual who falls into
more than one of the minority categories
will be considered as a single, eligible
minority.
A credit union that meets the
eligibility requirements can self-certify
as an MDI by following agency
guidelines as specified on the NCUA’s
website. The instructions to the NCUA’s
Credit Union Profile form, which credit
unions use to self-certify as an MDI,
contain detailed directions on how to
make the designation.18 An MDI may
participate in the NCUA’s MDI Program
subject to the eligibility requirements of
any specific initiative. An eligible credit
union’s decision to designate as an MDI
or to participate in the MDI Program is
voluntary.
A credit union defined as a ‘‘small
credit union’’ by the NCUA under the
Regulatory Flexibility Act (RFA) may
self-certify greater than 50 percent
representation among its current
members, and within the community it
services (potential members), based
solely on knowledge of those members.
Under the RFA, the NCUA currently
defines a small credit union as a credit
union with total assets of less than $100
million.19
A credit union not defined as a small
credit union by the NCUA may rely on
one of the following methods, as
applicable, to determine the minority
composition of its current membership
exclusively and of the community it
services. The credit union must
maintain documentation supporting its
MDI self-designation.
1. The credit union may ascertain the
minority representation using
demographic data from the U.S. Census
Bureau website, based on the area(s)
17 Id.
18 NCUA Form 4501A, https://ncua.gov/files/
publications/regulations/credit-union-profile-forminstructions-4501A-sept-2022.pdf.
19 80 FR 57512 (Sept. 24, 2015).
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where the current or potential
membership resides, such as a
township, borough, city, county, or
Metropolitan Statistical Area. If the U.S.
Census data—for example, census tracts,
zip codes, townships, boroughs, cities,
or counties—shows the area’s
population comprises mostly eligible
minorities, the credit union may assume
that its current membership and the
community it services each have the
same minority composition as the
Census data indicates.
2. The credit union may use Home
Mortgage Disclosure Act (HMDA) data
to calculate the reported number of
minority mortgage applicants divided
by the total number of mortgage
applicants within the credit union’s
membership. If the share of minority
representation among applicants is
greater than 50 percent, the credit union
may assume its current membership has
the same minority composition as the
HMDA data indicates. If a credit union
grants a majority of its mortgage loans
to minorities, it is likely the majority of
the community the credit union services
(its potential members) will consist of
minorities.20
3. The credit union may elect to
collect data from members who
voluntarily choose to participate in such
collection about their racial identity and
use the data to determine minority
representation among the credit union’s
membership. The credit union should
consider using an unbiased third party
to conduct such a collection. For
example, data can be collected through
a survey of members, assessing the
services they desire, or by mailed
electoral ballots for official positions.
Once collected, it is essential to
maintain the confidentiality of the data;
it should not be retained in the
members’ files or with any personal
identifiers, such as, names, accounts, or
Social Security numbers. If a majority of
its current members are minorities, it is
likely the majority of the community the
credit union services (its potential
members) will consist of minorities.
4. The credit union may use any other
reasonable form of data, such as
membership address list analyses or an
employer’s demographic analysis of
employees.
An MDI credit union must assess
whether it continues to meet the
required definition of an MDI whenever
there is a significant change in its board
of directors, or it changes its field of
membership, and update its
designation, if necessary, in the NCUA
Credit Union Profile. In accordance with
20 HMDA data can be obtained from the Federal
Financial Institutions Examination Council website.
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the regular examination process, the
NCUA will review whether a credit
union has updated its analysis and
made any corresponding changes to its
self-certification in the Credit Union
Profile. Credit unions can expect to have
the Credit Union Profile reviewed
during routine evaluations. An MDI may
elect to withdraw its designation by not
completing the relevant questions in the
Profile.
d. Monitoring and Reporting on MDIs
The NCUA will monitor MDIs and
report to Congress annually on the
number and overall financial condition
of MDIs, along with actions taken by the
agency to preserve and strengthen them
and to encourage the chartering of new
ones.21 The report summarizes the
NCUA’s efforts to obtain feedback from
MDIs on the effectiveness of the
agency’s MDI support and preservation
activities. The NCUA also maintains a
list of MDIs on its website.
IV. Regulatory Procedures
Regulatory Flexibility Act
The RFA generally requires that, in
connection with a notice of proposed
rulemaking, an agency prepare and
make available for public comment an
initial regulatory flexibility analysis that
describes the impact of a proposed rule
on small entities. A regulatory flexibility
analysis is not required, however, if the
agency certifies that the rule will not
have a significant economic impact on
a substantial number of small entities
(defined for purposes of the RFA to
include credit unions with assets less
than $100 million) 22 and publishes its
certification and a short, explanatory
statement in the Federal Register
together with the rule.
The Board fully considered the
potential economic impact of the
proposed changes during the
development of the revised IRPS. As
noted in the preamble, the revised IRPS
would clarify the NCUA’s current policy
on MDI preservation and provide
additional services to MDIs. The
proposed rule would not impose any
new significant burden on credit unions
designated as MDIs and may provide
some additional resources. The
resources gained, however, are unlikely
to result in a significant economic
impact for affected credit unions. Small
credit unions are also not obligated to
participate in the MDI program.
Accordingly, the NCUA certifies that it
would not have a significant economic
impact on a substantial number of small
federally insured credit unions.
21 12
U.S.C. 1463 note sec. (c).
80 FR 57512 (Sept. 24, 2015).
22 See
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Paperwork Reduction Act
The Paperwork Reduction Act of 1995
(PRA) applies to rulemakings in which
an agency creates a new information
collection or amends existing
information collection requirements.23
For purposes of the PRA, an information
collection requirement may take the
form of a reporting, recordkeeping, or a
third-party disclosure requirement. The
NCUA may not conduct or sponsor, and
the respondent is not required to
respond to, an information collection
unless it displays a valid Office of
Management and Budget (OMB) control
number. The current information
collection requirements for the MDI
policy are approved under OMB control
number 3133–0195, Minority
Depository Institution Preservation
Program.
The amendments in this proposed
revision to IRPS 13–1 do not alter the
information collection described under
OMB control number 3133–0195, and
the NCUA does not anticipate an
increase in the burden based on the
proposed revisions. There are no
additional information collections
resulting from these proposed changes.
lotter on DSK11XQN23PROD with NOTICES1
Executive Order 13132
U.S.C. 3507(d); 5 CFR part 1320.
VerDate Sep<11>2014
17:21 Jun 28, 2023
Assessment of Federal Regulations and
Policies on Families
The NCUA has determined that these
proposed revisions to IRPS 13–1 will
not affect family well-being within the
meaning of section 654 of the Treasury
and General Government
Appropriations Act, 1999.24 The
proposed revisions to IRPS 13–1 may
increase the ability of MDIs to provide
financial services to families. However,
the Board does not have a means to
quantify how this might affect family
well-being as described in factors
included in the legislation, which
include the effects of the action on the
stability and safety of the family;
parental authority and rights in the
education, supervision, and nurture of
their children; the ability of families to
support their functions or substitute
governmental activity for these
functions; and on increases or decreases
to disposable income.
By the National Credit Union
Administration Board on June 22, 2023.
Melane Conyers-Ausbrooks,
Secretary of the Board.
[FR Doc. 2023–13848 Filed 6–28–23; 8:45 am]
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. This revised IRPS will not
have a substantial direct effect 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. Although Statechartered credit unions are eligible to
obtain the MDI designation and receive
assistance based on it, the NCUA does
not believe this affects State
governments generally or State credit
union regulators in particular. The
NCUA will continue to work
cooperatively with State credit union
regulators to examine federally insured,
State-chartered credit unions and does
not expect the proposed IRPS to alter
these relationships or allocation of
responsibilities. The decision about
whether to certify as an MDI or seek
MDI program benefits will be an
individual business decision for each
credit union’s board. The NCUA has
determined that this revised IRPS does
not constitute a policy that has
23 44
federalism implications for purposes of
the executive order.
Jkt 259001
BILLING CODE 7535–01–P
NUCLEAR REGULATORY
COMMISSION
[Docket No. 50–0320; NRC–2023–0042]
TMI–2 Solutions; Three Mile Island
Nuclear Station, Unit No. 2
Nuclear Regulatory
Commission.
ACTION: Exemption; issuance.
AGENCY:
The U.S. Nuclear Regulatory
Commission (NRC, or Commission) is
issuing an exemption in response to a
September 29, 2022, request from TMI–
2 Solutions, LLC (TMI–2 Solutions, or
Licensee) for an exemption from NRC
regulations. The action exempts TMI–2
Solutions from the requirements to
maintain a radiation monitoring system
in each area where licensed special
nuclear material is handled, used, or
stored that would energize clearly
audible alarm signals if accidental
criticality occurred during
decommissioning. In evaluating the
exemption request, the NRC staff
determined that the Licensee’s proposed
decommissioning activities do not
present any credible criticality hazards.
SUMMARY:
24 Public
PO 00000
Law 105–277, 112 Stat. 2681 (1998).
Frm 00069
Fmt 4703
Sfmt 4703
42109
The exemption was issued on
and was effective on May 2, 2023.
ADDRESSES: Please refer to Docket ID
NRC–2023–0042 when contacting the
NRC about the availability of
information regarding this document.
You may obtain publicly available
information related to this document
using any of the following methods:
• Federal Rulemaking Website: Go to
https://www.regulations.gov and search
for Docket ID NRC–2023–0042. Address
questions about Docket IDs in
Regulations.gov to Stacy Schumann;
telephone: 301–415–0624; email:
Stacy.Schumann@nrc.gov. For technical
questions, contact the individual listed
in the FOR FURTHER INFORMATION
CONTACT section of this document.
• NRC’s Agencywide Documents
Access and Management System
(ADAMS): You may obtain publicly
available documents online in the
ADAMS Public Documents collection at
https://www.nrc.gov/reading-rm/
adams.html. To begin the search, select
‘‘Begin Web-based ADAMS Search.’’ For
problems with ADAMS, please contact
the NRC’s Public Document Room (PDR)
reference staff at 1–800–397–4209, 301–
415–4737, or by email to
PDR.Resource@nrc.gov. The ADAMS
accession number for each document
referenced (if it is available in ADAMS)
is provided the first time that it is
mentioned in this document.
• NRC’s PDR: You may examine and
purchase copies of public documents,
by appointment, at the NRC’s PDR,
Room P1 B35, One White Flint North,
11555 Rockville Pike, Rockville,
Maryland 20852. To make an
appointment to visit the PDR, please
send an email to PDR.Resource@nrc.gov
or call 1–800–397–4209 or 301–415–
4737, between 8 a.m. and 4 p.m. eastern
time (ET), Monday through Friday,
except Federal holidays.
FOR FURTHER INFORMATION CONTACT:
Amy M. Snyder, Office of Nuclear
Material Safety and Safeguards, U.S.
Nuclear Regulatory Commission,
Washington, DC 20555–0001, telephone:
301–415–6822, email: Amy.Snyder@
nrc.gov.
DATES:
SUPPLEMENTARY INFORMATION:
I. Background
TMI–2 Solutions is the holder of
Possession Only License (POL) No.
DPR–73 for Three Mile Island Nuclear
Station, Unit No. 2 (TMI–2). The POL
provides, among other things, that the
facility is subject to all rules,
regulations, and orders of the NRC now
or hereafter in effect. TMI–2 is located
in Dauphin County, Pennsylvania.
E:\FR\FM\29JNN1.SGM
29JNN1
]]>Agencies
[Federal Register Volume 88, Number 124 (Thursday, June 29, 2023)]
[Notices]
[Pages 42105-42109]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-13848]
=======================================================================
-----------------------------------------------------------------------
NATIONAL CREDIT UNION ADMINISTRATION
[NCUA-2023-0070]
Minority Depository Institution Preservation Program
AGENCY: National Credit Union Administration (NCUA).
ACTION: Proposed interpretive ruling and policy statement.
-----------------------------------------------------------------------
SUMMARY: The NCUA Board is issuing proposed revisions to Interpretive
Ruling and Policy Statement 13-1, regarding the Minority Depository
Institution Preservation Program for credit unions.
DATES: Comments must be received on or before August 28, 2023.
ADDRESSES: You may submit comments by any of the following methods
(Please send comments by one method only):
Federal eRulemaking Portal: https://www.regulations.gov/.
Follow the instructions for submitting comments for Docket Number NCUA-
2023-XXXX.
NCUA website: Rulemakings and Proposals for Comment
[verbar] NCUA. Follow the instructions for submitting comments.
USPS/Hand Delivery/Courier: Address to Melane Conyers-
Ausbrooks, Secretary of the Board, National Credit Union
Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428.
Public Inspection: You may view all public comments on the Federal
eRulemaking Portal at https://www.regulations.gov, as submitted, except
for those we cannot post for technical reasons. The NCUA will not edit
or remove any identifying or contact information from the public
comments submitted. If you are unable to access public comments on the
internet, you may contact the NCUA for alternative access by calling
(703) 518-6540 or emailing [email protected].
FOR FURTHER INFORMATION CONTACT: Supervisory Program Manager Kristi
Kubista-Hovis or Program Manager Pamela Williams, Office of Credit
Union Resources and Expansion, 703-518-6610 or [email protected].
I. Background
Congress enacted the Financial Institutions Reform, Recovery, and
Enforcement Act of 1989 (FIRREA) in response to the savings and loan
industry crisis.\1\ FIRREA included provisions designed to encourage
Federal financial regulators to preserve
[[Page 42106]]
and promote minority depository institutions.\2\ Specifically, FIRREA
section 308 required the Secretary of the Treasury to consult with the
Office of Thrift Supervision (OTS) and the Federal Deposit Insurance
Corporation (FDIC) on best methods to achieve the following goals:
---------------------------------------------------------------------------
\1\ Public Law 101-73, 103 Stat. 183 (1989).
\2\ Id. Title III, sec. 308, 103 Stat. 353, codified at 12
U.S.C. 1463 note, ``Preserving Minority Ownership of Minority
Financial Institutions.''
---------------------------------------------------------------------------
Preserving the number of minority depository institutions;
Preserving the minority character of a minority depository
institution involved in a merger or acquisition;
Providing technical assistance to prevent the insolvency
of minority depository institutions;
Encouraging the formation of new minority depository
institutions; and
Providing training, technical assistance, and educational
programs to minority depository institutions.\3\
---------------------------------------------------------------------------
\3\ Id. sec. (a). The Office of the Comptroller of the Currency
and the Board of Governors of the Federal Reserve System also
initiated minority depository institution programs to comply with
the spirit of FIRREA sec. 308, even though neither was originally
required to do so. OTS became part of the Office of the Comptroller
of the Currency on July 21, 2011.
---------------------------------------------------------------------------
Those agencies developed various initiatives aimed at preserving
federally insured banks and savings institutions that meet FIRREA's
definition of a minority depository institution (MDI).\4\
---------------------------------------------------------------------------
\4\ Id. sec. (b).
---------------------------------------------------------------------------
In 2010, Congress enacted the Dodd-Frank Wall Street Reform and
Consumer Protection Act (Dodd-Frank Act).\5\ Section 367(4)(A) of the
Dodd-Frank Act expanded FIRREA section 308 to require the Secretary of
the Treasury to consult with the National Credit Union Administration
(NCUA) and the Board of Governors of the Federal Reserve System (Fed),
in addition to the FDIC and the Office of the Comptroller of the
Currency (OCC) on methods for best achieving the FIRREA goals.\6\
Section 367(4)(B) of the Dodd-Frank Act also amended FIRREA section 308
to require each agency to submit an annual report to Congress
describing actions it has taken to preserve and encourage MDIs.\7\
---------------------------------------------------------------------------
\5\ Public Law 111-203, 124 Stat. 1376 (July 21, 2010); 12
U.S.C. 5301 et seq.
\6\ 12 U.S.C. 1463 note sec. (a).
\7\ Id. sec. (c).
---------------------------------------------------------------------------
In 2013, the NCUA Board proposed Interpretive Ruling and Policy
Statement (IRPS) 13-1 to establish a Minority Depository Institution
Preservation Program (MDI Program) to encourage the preservation of
MDIs and the establishment of new ones.\8\ In 2015, the NCUA Board
approved final IRPS 13-1, establishing the NCUA's MDI Program.\9\
---------------------------------------------------------------------------
\8\ 78 FR 46374 (July 31, 2013).
\9\ 80 FR 36356 (June 24, 2015).
---------------------------------------------------------------------------
The NCUA Board subsequently restructured the agency in 2018. Among
other changes, the restructuring created the Office of Credit Union
Resources and Expansion (CURE). CURE assumed administration of the
NCUA's MDI Program from the agency's Office of Minority and Women
Inclusion.
II. Summary of Proposed Changes to IRPS 13-1 and Request for Comments
The NCUA is proposing to amend IRPS 13-1 to reflect changes to the
agency's structure and current administration of the MDI Program by
CURE and improve the MDI Program, including: recognizing the transfer
of the MDI program administration to CURE, incorporating recent program
initiatives, simplifying ``community it services, as designated in its
charter'' to refer to an MDI's field of membership, referencing
guidance the NCUA provides examination staff who continue to play a
significant role in supporting and guiding MDIs under their
supervision, explaining how the NCUA will review an MDI's designation
status during routine evaluations, and adding new subsections on
engagement, technical assistance, MDI examinations, Community
Development Revolving Loan Fund grants and loans, training and
education, and MDI preservation.
The Board invites comments on all aspects of the proposed
amendments to the IRPS. Additionally, the agency welcomes comments on
any other aspects of the IRPS and what additional information the
agency could provide to help MDIs and how best to deliver the
information.
Authority: 12 U.S.C. 1463 note; Sec. 308, Pub. L. 101-73, 103 Stat.
353; as amended by Sec. 367(4), Pub. L. 111-203, 124 Stat. 1556.
III. Interpretive Ruling and Policy Statement 13-1, Minority Depository
Institution Preservation Program, as Amended
The text of IRPS 13-1, with proposed amendments, follows:
a. Goals and Objectives of the MDI Preservation Program
Minority Depository Institutions (MDIs) play an important and
unique role in promoting the economic viability of minority and
underserved communities. The NCUA employs proactive steps and outreach
efforts to preserve MDIs and foster their success. The NCUA's MDI
Preservation Program (MDI Program) is designed to comply with section
308 of FIRREA, which requires the NCUA to report on the actions it has
taken in furtherance of the following goals:\10\
---------------------------------------------------------------------------
\10\ Public Law 101-73, title III, sec. 308, 103 Stat. 353
(1989), as amended by Public Law 111-203, title III, sec. 367(4),
124 Stat. 1556 (2010), codified at 12 U.S.C. 1463 note.
---------------------------------------------------------------------------
Preserve the present number of MDIs;
Preserve the minority character of MDIs involved in
mergers and acquisitions;
Provide technical assistance to prevent insolvency of MDIs
that are not now insolvent;
Promote and encourage the creation of new MDIs; and
Provide training, technical assistance, and educational
programs for MDIs.
b. Description of the MDI Program
The NCUA's MDI Program consists of proactive steps and outreach
efforts to promote and preserve MDIs in the credit union system. The
NCUA's Office of Credit Union Resources and Expansion (CURE)
administers the agency's MDI Program and will meet periodically with
State regulators, other Federal regulators, and other stakeholders to
discuss outreach efforts, share ideas, and identify areas to work
together to assist MDIs.
The NCUA offers MDI-designated credit unions a variety of
initiatives to assist in preserving the economic viability of their
institutions. The initiatives include technical assistance, educational
opportunities, and funding. Examples of such initiatives include the
following:
Consulting and support program;
Training; and
Grants and loans through the NCUA's Community Development
Revolving Loan Fund (CDRLF), subject to eligibility.\11\
---------------------------------------------------------------------------
\11\ Prior to 2023, under the annual appropriations statutes,
grants and loans from the CDRLF were historically only available to
low-income designated credit unions, some of which are also MDIs.
However, not all MDIs have a low-income designation.
---------------------------------------------------------------------------
Examples of broad-based and individualized technical assistance
include the following:
Providing guidance in resolving examination concerns;
Helping MDIs locate new sponsors, mentors, or merger
partners;
Assisting with field of membership expansions;
Supporting management in setting up new programs and
services;
Attempting to preserve the minority character of failing
institutions during the resolution process; and
Aiding groups that are interested in chartering a new MDI.
[[Page 42107]]
Engagement With MDIs
The NCUA's MDI Program will provide continual engagement with MDIs
through interaction with headquarters and field staff. This interaction
includes sharing information and expertise on supervisory topics, using
various venues to engage in an open dialogue between NCUA, MDIs, and
related organizations, seeking feedback on the NCUA's efforts under the
MDI program, and providing a variety of training opportunities hosted
or sponsored by the NCUA. The NCUA's outreach also includes seeking
out, working with, and supporting groups interested in applying for a
new Federal or State charter with an MDI designation, and aiding
existing credit unions interested in receiving the MDI designation.
Technical Assistance
The NCUA will provide technical assistance to an MDI designated
credit union upon request. The agency contacts each MDI at least
annually to ask if it would like to receive technical assistance. Also,
an MDI can contact its assigned field office, supervisory examiner, or
district examiner to request technical assistance.
Technical assistance is not an examination or supervisory activity
and will be provided separate from examinations and supervision
contacts. Technical assistance includes but is not limited to
assistance in understanding applicable laws and regulations, agency
processes, reporting requirements, supervisory guidance, accounting
standards, supervisory findings and conclusions (only after the
conclusion of the applicable examination or supervision contact),
applications or requests for agency approval or action (such as field
of membership, bidding on a failing institution, regulatory waivers,
etc.), and assistance in receiving an MDI designation. In providing
technical assistance, agency staff will not perform tasks expected of
an institution's management or employees. And while they may help the
institution understand how to apply for something or submit a bid,
agency staff will not assist or guide the institution in developing the
substance of such application or bid.
Examinations of MDIs
MDI-designated credit unions have a unique role in promoting the
economic viability of minority and underserved communities, at times
necessitating distinct approaches to taking and managing the related
financial and operational risks. The NCUA expects examiners to
recognize the distinctive characteristics and differences in core
objectives of each financial institution and consider these when
evaluating the institution's financial and operational condition and
related management practices. Examiners are able to evaluate an MDI
using peer metrics such as through the Financial Performance Report.
The NCUA provides examiners guidance to educate them about the
unique challenges faced by MDIs and the support and services the NCUA
offers to assist MDIs to address such challenges. The guidance
acknowledges, at times, some MDIs may need more or different support
from the NCUA than other credit unions. The guidance also lists
specific types of technical assistance an MDI may request of the NCUA.
It also advises that MDIs often have unique memberships and provide
financial services to consumers and businesses in communities that
might not otherwise have access to another federally insured financial
institution. Therefore, the policies, processes, risks, and practices
of MDIs may vary and comparison to other credit unions based solely on
similar size may have limited value. Instead, examiners are instructed
to assess each MDI based on its unique strategy and membership.
CDRLF Grants and Loans
The CDRLF provides loans and grants to low-income designated credit
unions to expand outreach to underserved populations, improve digital
services and cybersecurity, to provide staff training, and to support
capacity-building programs for example. In 2023, MDIs without the low-
income designation became eligible for CDRLF grants and loans.\12\
---------------------------------------------------------------------------
\12\ Refer to the Grants and Loans section of the NCUA website
for eligibility requirements in future periods.
---------------------------------------------------------------------------
Training and Education
The NCUA offers training to credit unions through various formats
such as webinars, online courses, videos, and in-person events. Through
the Learning Management System, the agency offers training and
educational resources to credit union board members, management,
employees, and volunteers online and at no charge. Examples of the
content provided include guidance on credit union operations,
compliance, community partnerships, and strategic planning.\13\
---------------------------------------------------------------------------
\13\ These training opportunities are accessible to all credit
unions through the Learning section the NCUA's website.
---------------------------------------------------------------------------
Preservation of MDIs
With regard to a potentially failing MDI or the need for an
assisted merger of an MDI, as with any insured credit union, the NCUA
Board will consider providing Section 208 assistance to reduce the risk
or avert a threatened loss to the National Credit Union Share Insurance
Fund (NCUSIF), facilitate a merger or consolidation, or to prevent the
closing of a credit union that the Board determines is in danger of
closing.\14\ Requirements concerning field of membership apply to most
mergers. In addition, the NCUA must consider resolution costs and
safety and soundness implications for all mergers.
---------------------------------------------------------------------------
\14\ 12 U.S.C. 1788(a)(1)-(2).
---------------------------------------------------------------------------
The NCUA will attempt to preserve the minority character of failing
MDIs during the resolution process. In the event of the potential
failure of an MDI, the agency will contact MDIs in the NCUA's merger
registry that qualify to bid on a particular failing institution.
Agency staff will solicit interest in bidding on the failing MDI and
offer technical assistance to any MDI desiring to bid. The NCUA will
also provide MDIs interested in submitting a bid with an additional two
weeks to submit a bid whenever possible. Except in the cases of
conservatorships, liquidations, or assisted mergers, the MDI's board of
directors is generally the decision maker on a merger partner provided
the selection is consistent with regulatory and safety and soundness
standards. For conservatorships, liquidations, or assisted mergers, in
the selection process, the NCUA will consider all the requirements
applicable to a merger or purchase and assumption, including FIRREA's
general preference guidelines.\15\
---------------------------------------------------------------------------
\15\ Generally, the NCUA is involved in the selection process
when the transaction will cause a loss to the Share Insurance Fund
or when the failing credit union is in conservatorship and the NCUA
Board is the conservator. For additional information on the NCUA's
selection process, see Letter to Credit Unions 10-CU-11, Information
on NCUA's Merger and Purchase & Assumption Process.
---------------------------------------------------------------------------
c. MDI Designation Eligibility
The agency adopted the definition of an MDI in FIRREA section 308
that applies to a mutual institution.\16\ Accordingly, a credit union
is eligible to receive the MDI designation if it meets all the
following criteria:
---------------------------------------------------------------------------
\16\ 12 U.S.C. 1463 note sec. (b)(1)(C).
---------------------------------------------------------------------------
A majority of its current members are from any of the
eligible minority groups;
A majority of the members of its board of directors are
from any of the eligible minority groups; and
[[Page 42108]]
A majority of the community it services, as designated in
its field of membership, are from any of the eligible minority groups.
For minority representation to be a ``majority,'' it must be
greater than 50 percent.
The NCUA relies on the FIRREA section 308 ``minority'' definition
to identify an eligible minority as any Black American, Asian American,
Hispanic American, or Native American.\17\ For the purpose of this
IRPS, Asian American includes anyone who is Native Hawaiian or Other
Pacific Islander, and Native American includes anyone who is American
Indian or Alaska Native. Also, for the purpose of minority
representation under the MDI definition, an individual who falls into
more than one of the minority categories will be considered as a
single, eligible minority.
---------------------------------------------------------------------------
\17\ Id.
---------------------------------------------------------------------------
A credit union that meets the eligibility requirements can self-
certify as an MDI by following agency guidelines as specified on the
NCUA's website. The instructions to the NCUA's Credit Union Profile
form, which credit unions use to self-certify as an MDI, contain
detailed directions on how to make the designation.\18\ An MDI may
participate in the NCUA's MDI Program subject to the eligibility
requirements of any specific initiative. An eligible credit union's
decision to designate as an MDI or to participate in the MDI Program is
voluntary.
---------------------------------------------------------------------------
\18\ NCUA Form 4501A, https://ncua.gov/files/publications/regulations/credit-union-profile-form-instructions-4501A-sept-2022.pdf.
---------------------------------------------------------------------------
A credit union defined as a ``small credit union'' by the NCUA
under the Regulatory Flexibility Act (RFA) may self-certify greater
than 50 percent representation among its current members, and within
the community it services (potential members), based solely on
knowledge of those members. Under the RFA, the NCUA currently defines a
small credit union as a credit union with total assets of less than
$100 million.\19\
---------------------------------------------------------------------------
\19\ 80 FR 57512 (Sept. 24, 2015).
---------------------------------------------------------------------------
A credit union not defined as a small credit union by the NCUA may
rely on one of the following methods, as applicable, to determine the
minority composition of its current membership exclusively and of the
community it services. The credit union must maintain documentation
supporting its MDI self-designation.
1. The credit union may ascertain the minority representation using
demographic data from the U.S. Census Bureau website, based on the
area(s) where the current or potential membership resides, such as a
township, borough, city, county, or Metropolitan Statistical Area. If
the U.S. Census data--for example, census tracts, zip codes, townships,
boroughs, cities, or counties--shows the area's population comprises
mostly eligible minorities, the credit union may assume that its
current membership and the community it services each have the same
minority composition as the Census data indicates.
2. The credit union may use Home Mortgage Disclosure Act (HMDA)
data to calculate the reported number of minority mortgage applicants
divided by the total number of mortgage applicants within the credit
union's membership. If the share of minority representation among
applicants is greater than 50 percent, the credit union may assume its
current membership has the same minority composition as the HMDA data
indicates. If a credit union grants a majority of its mortgage loans to
minorities, it is likely the majority of the community the credit union
services (its potential members) will consist of minorities.\20\
---------------------------------------------------------------------------
\20\ HMDA data can be obtained from the Federal Financial
Institutions Examination Council website.
---------------------------------------------------------------------------
3. The credit union may elect to collect data from members who
voluntarily choose to participate in such collection about their racial
identity and use the data to determine minority representation among
the credit union's membership. The credit union should consider using
an unbiased third party to conduct such a collection. For example, data
can be collected through a survey of members, assessing the services
they desire, or by mailed electoral ballots for official positions.
Once collected, it is essential to maintain the confidentiality of the
data; it should not be retained in the members' files or with any
personal identifiers, such as, names, accounts, or Social Security
numbers. If a majority of its current members are minorities, it is
likely the majority of the community the credit union services (its
potential members) will consist of minorities.
4. The credit union may use any other reasonable form of data, such
as membership address list analyses or an employer's demographic
analysis of employees.
An MDI credit union must assess whether it continues to meet the
required definition of an MDI whenever there is a significant change in
its board of directors, or it changes its field of membership, and
update its designation, if necessary, in the NCUA Credit Union Profile.
In accordance with the regular examination process, the NCUA will
review whether a credit union has updated its analysis and made any
corresponding changes to its self-certification in the Credit Union
Profile. Credit unions can expect to have the Credit Union Profile
reviewed during routine evaluations. An MDI may elect to withdraw its
designation by not completing the relevant questions in the Profile.
d. Monitoring and Reporting on MDIs
The NCUA will monitor MDIs and report to Congress annually on the
number and overall financial condition of MDIs, along with actions
taken by the agency to preserve and strengthen them and to encourage
the chartering of new ones.\21\ The report summarizes the NCUA's
efforts to obtain feedback from MDIs on the effectiveness of the
agency's MDI support and preservation activities. The NCUA also
maintains a list of MDIs on its website.
---------------------------------------------------------------------------
\21\ 12 U.S.C. 1463 note sec. (c).
---------------------------------------------------------------------------
IV. Regulatory Procedures
Regulatory Flexibility Act
The RFA generally requires that, in connection with a notice of
proposed rulemaking, an agency prepare and make available for public
comment an initial regulatory flexibility analysis that describes the
impact of a proposed rule on small entities. A regulatory flexibility
analysis is not required, however, if the agency certifies that the
rule will not have a significant economic impact on a substantial
number of small entities (defined for purposes of the RFA to include
credit unions with assets less than $100 million) \22\ and publishes
its certification and a short, explanatory statement in the Federal
Register together with the rule.
---------------------------------------------------------------------------
\22\ See 80 FR 57512 (Sept. 24, 2015).
---------------------------------------------------------------------------
The Board fully considered the potential economic impact of the
proposed changes during the development of the revised IRPS. As noted
in the preamble, the revised IRPS would clarify the NCUA's current
policy on MDI preservation and provide additional services to MDIs. The
proposed rule would not impose any new significant burden on credit
unions designated as MDIs and may provide some additional resources.
The resources gained, however, are unlikely to result in a significant
economic impact for affected credit unions. Small credit unions are
also not obligated to participate in the MDI program. Accordingly, the
NCUA certifies that it would not have a significant economic impact on
a substantial number of small federally insured credit unions.
[[Page 42109]]
Paperwork Reduction Act
The Paperwork Reduction Act of 1995 (PRA) applies to rulemakings in
which an agency creates a new information collection or amends existing
information collection requirements.\23\ For purposes of the PRA, an
information collection requirement may take the form of a reporting,
recordkeeping, or a third-party disclosure requirement. The NCUA may
not conduct or sponsor, and the respondent is not required to respond
to, an information collection unless it displays a valid Office of
Management and Budget (OMB) control number. The current information
collection requirements for the MDI policy are approved under OMB
control number 3133-0195, Minority Depository Institution Preservation
Program.
---------------------------------------------------------------------------
\23\ 44 U.S.C. 3507(d); 5 CFR part 1320.
---------------------------------------------------------------------------
The amendments in this proposed revision to IRPS 13-1 do not alter
the information collection described under OMB control number 3133-
0195, and the NCUA does not anticipate an increase in the burden based
on the proposed revisions. There are no additional information
collections resulting from these proposed changes.
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. This revised IRPS will not have a substantial
direct effect 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. Although
State-chartered credit unions are eligible to obtain the MDI
designation and receive assistance based on it, the NCUA does not
believe this affects State governments generally or State credit union
regulators in particular. The NCUA will continue to work cooperatively
with State credit union regulators to examine federally insured, State-
chartered credit unions and does not expect the proposed IRPS to alter
these relationships or allocation of responsibilities. The decision
about whether to certify as an MDI or seek MDI program benefits will be
an individual business decision for each credit union's board. The NCUA
has determined that this revised IRPS does not constitute a policy that
has federalism implications for purposes of the executive order.
Assessment of Federal Regulations and Policies on Families
The NCUA has determined that these proposed revisions to IRPS 13-1
will not affect family well-being within the meaning of section 654 of
the Treasury and General Government Appropriations Act, 1999.\24\ The
proposed revisions to IRPS 13-1 may increase the ability of MDIs to
provide financial services to families. However, the Board does not
have a means to quantify how this might affect family well-being as
described in factors included in the legislation, which include the
effects of the action on the stability and safety of the family;
parental authority and rights in the education, supervision, and
nurture of their children; the ability of families to support their
functions or substitute governmental activity for these functions; and
on increases or decreases to disposable income.
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\24\ Public Law 105-277, 112 Stat. 2681 (1998).
By the National Credit Union Administration Board on June 22,
2023.
Melane Conyers-Ausbrooks,
Secretary of the Board.
[FR Doc. 2023-13848 Filed 6-28-23; 8:45 am]
BILLING CODE 7535-01-P
