Community Development Revolving Loan Fund Access for Credit Unions, 22745-22749 [2024-06962]

Download as PDF Federal Register / Vol. 89, No. 64 / Tuesday, April 2, 2024 / Notices number for each schedule in parentheses at the end of each schedule’s entry in the list at the end of this notice. FOR FURTHER INFORMATION CONTACT: Eddie Germino, Strategy and Performance Division, by email at regulation_comments@nara.gov or at 301–837–3758. For information about records schedules, contact Records Management Operations by email at request.schedule@nara.gov or by phone at 301–837–1799. SUPPLEMENTARY INFORMATION: khammond on DSKJM1Z7X2PROD with NOTICES Public Comment Procedures We are publishing notice of records schedules in which agencies propose to dispose of records they no longer need to conduct agency business. We invite public comments on these records schedules, as required by 44 U.S.C. 3303a(a), and list the schedules at the end of this notice by agency and subdivision requesting disposition authority. In addition, this notice lists the organizational unit(s) accumulating the records or states that the schedule has agency-wide applicability. It also provides the control number assigned to each schedule, which you will need if you submit comments on that schedule. We have uploaded the records schedules and accompanying appraisal memoranda to the regulations.gov docket for this notice as ‘‘other’’ documents. Each records schedule contains a full description of the records at the file unit level as well as their proposed disposition. The appraisal memorandum for the schedule includes information about the records. We will post comments, including any personal information and attachments, to the public docket unchanged. Because comments are public, you are responsible for ensuring that you do not include any confidential or other information that you or a third party may not wish to be publicly posted. If you want to submit a comment with confidential information or cannot otherwise use the regulations.gov portal, you may contact request.schedule@nara.gov for instructions on submitting your comment. We will consider all comments submitted by the posted deadline and consult as needed with the Federal agency seeking the disposition authority. After considering comments, we may or may not make changes to the proposed records schedule. The schedule is then sent for final approval by the Archivist of the United States. After the schedule is approved, we will VerDate Sep<11>2014 17:06 Apr 01, 2024 Jkt 262001 post on regulations.gov a ‘‘Consolidated Reply’’ summarizing the comments, responding to them, and noting any changes we made to the proposed schedule. You may elect at regulations.gov to receive updates on the docket, including an alert when we post the Consolidated Reply, whether or not you submit a comment. If you have a question, you can submit it as a comment, and can also submit any concerns or comments you would have to a possible response to the question. We will address these items in consolidated replies along with any other comments submitted on that schedule. We will post schedules on our website in the Records Control Schedule (RCS) Repository, at https:// www.archives.gov/records-mgmt/rcs, after the Archivist approves them. The RCS contains all schedules approved since 1973. Background Each year, Federal agencies create billions of records. To control this accumulation, agency records managers prepare schedules proposing retention periods for records and submit these schedules for NARA’s approval. Once approved by NARA, records schedules provide mandatory instructions on what happens to records when no longer needed for current Government business. The records schedules authorize agencies to preserve records of continuing value in the National Archives or to destroy, after a specified period, records lacking continuing administrative, legal, research, or other value. Some schedules are comprehensive and cover all the records of an agency or one of its major subdivisions. Most schedules, however, cover records of only one office or program or a few series of records. Many of these update previously approved schedules, and some include records proposed as permanent. Agencies may not destroy Federal records without the approval of the Archivist of the United States. The Archivist grants this approval only after thorough consideration of the records’ administrative use by the agency of origin, the rights of the Government and of private people directly affected by the Government’s activities, and whether or not the records have historical or other value. Public review and comment on these records schedules is part of the Archivist’s consideration process. Schedules Pending 1. Department of Energy, Agencywide, Employee Training Records (DAA–0434–2020–0014). PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 22745 2. Department of Health and Human Services, Administration for Strategic Preparedness and Response, Continuity of Operation (COOP) Records (DAA– 0611–2023–0016). 3. Department of Health and Human Services, Administration for Strategic Preparedness and Response, Recovery Coordination Training Records (DAA– 0611–2023–0019). 4. Department of Health and Human Services, Administration for Strategic Preparedness and Response, International Operations Records (DAA– 0611–2023–0020). 5. Department of the Treasury, Internal Revenue Service, eAuth was Decommissioned in Fiscal Year 2023 (DAA–0058–2024–0003). 6. American Battle Monuments Commission, Agency-wide, Mission and Organization (DAA–0117–2023–0007). 7. Central Intelligence Agency, Agency-wide, Non-Employee Payment Records (DAA–0263–2022–0007). Laurence Brewer, Chief Records Officer for the U.S. Government. [FR Doc. 2024–06924 Filed 4–1–24; 8:45 am] BILLING CODE 7515–01–P NATIONAL CREDIT UNION ADMINISTRATION Community Development Revolving Loan Fund Access for Credit Unions ACTION: Notice of funding opportunity. Funding Opportunity Title: Community Development Revolving Loan Fund (CDRLF) Grants. Catalog of Federal Domestic Assistance (CFDA) Number: 44.002. The National Credit Union Administration (NCUA) is issuing this Notice of Funding Opportunity (NOFO) to announce the availability of technical assistance grants (awards) for lowincome-designated credit unions (LICUs) through the CDRLF. The CDRLF provides financial support in the form of loans and technical assistance grants that help credit unions support the communities in which they operate. All grant awards made under this NOFO are subject to funds availability and are at the NCUA’s discretion. Table of Contents A. Program Description B. Award Information C. Eligibility Information D. Application and Submission Information E. Application Review Information F. Federal Award Administration G. Federal Awarding Agency H. Grant Terms and Conditions E:\FR\FM\02APN1.SGM 02APN1 22746 Federal Register / Vol. 89, No. 64 / Tuesday, April 2, 2024 / Notices A. Program Description The purpose of the Community Development Revolving Loan Fund (CDRLF) is to assist LICUs in providing basic financial services to their members and to stimulate economic activities in their communities. Through the CDRLF, the NCUA provides financial support in the form of technical assistance grants to eligible credit unions to modernize, build capacity, and extend outreach into underserved communities. The NCUA will consider requests for various funding initiatives. More detailed information about the purpose of each initiative, amount of funds available, funding priorities, permissible uses of funds, funding limits, deadlines, and other pertinent details will be defined in the Grant Round Guidelines. In addition, the NCUA may periodically publish information regarding the CDRLF in Letters to Credit Unions, press releases, and/or on the agency website, NCUA.gov. 1. Funding Initiatives The funding initiatives available during 2024 include: i. Training; ii. Digital Services and Cybersecurity; iii. Consumer Financial Protection; iv. MDI Capacity Building; v. Underserved Outreach; and vi. Impact Through Innovation. khammond on DSKJM1Z7X2PROD with NOTICES 2. Authority and Regulations i. Authority: 12 U.S.C. 1772c–1, 1756, 1757(5)(D), and (7)(I), 1766, 1782, 1784, 1785 and 1786; and Further Consolidated Appropriations Act, 2024, Public Law 118–47, Div. B, Title V (2024). ii. Regulations: The regulation governing the CDRLF is found at 12 CFR part 705. In general, this regulation governs the CDRLF, and sets forth the program requirements. Additional regulations related to the low-income designation are found at 12 CFR 701.34 and 741.204. For the purposes of this NOFO, an ‘‘Applicant’’ is a Participating Credit Union that submits a complete application to the NCUA under the CDRLF. The NCUA encourages Applicants to review the regulations, this NOFO, the Grant Round Guidelines, and other program materials for a complete understanding of the program. B. Award Information Up to $3,465,000 in awards will be available through this NOFO. The NCUA reserves the right to: (i) award more or less than the amounts cited above; (ii) fund, in whole or in part, any, all, or none of the applications submitted in response to this NOFO; and (iii) reallocate funds available under VerDate Sep<11>2014 17:06 Apr 01, 2024 Jkt 262001 this NOFO to other programs, particularly if the NCUA finds that the number of awards made under this NOFO is fewer than projected. General information about the purpose of each funding initiative and the maximum award amount is provided below. Additional initiative information will be detailed in the 2024 Community Development Revolving Loan Fund Grant Round Application Guidelines found on the NCUA’s website. 1. Purpose of Funding Initiatives i. Training: The training initiative aims to strengthen credit union management’s leadership skills and promote succession planning. Credit unions will be able to use funds to develop a management succession plan or to enroll an employee in advanced training courses to enhance leadership skills and operational knowledge of credit unions. To direct grant funds to credit unions with the greatest need for resources, credit unions with assets in excess of $100 million are not eligible for funding under this initiative. ii. Digital Services and Cybersecurity: This initiative is intended to increase access to safe, fair, and affordable digital financial products and services. Applicants can request funding for equipment needed to improve their remote work posture, upgrade equipment to current industry standards, or implement new financial products and services that provide members access to the credit union without physical access to the branch. Cybersecurity activities include cybersecurity training for board members and employees, procurement of software and hardware required for cybersecurity upgrades, contracts for external security services, business continuity, development or implementation of an incident response plan, vulnerability scans, or IT auditing and testing. To direct grant funds to credit unions with the greatest need for resources, credit unions with assets in excess of $250 million are not eligible for funding under this initiative. iii. Consumer Financial Protection: The purpose of this initiative is to ensure credit unions have the resources and expertise to protect credit union members and consumers, raise awareness of potential frauds, and facilitate access to fair and affordable financial services. Many credit unions need additional expertise, systems, and support to ensure consumer financial protection. Under this initiative, credit unions can obtain the resources, such as consultants, to train staff on consumer financial protection laws and regulations. To ensure funds for these PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 activities reach credit unions with the greatest need for resources, credit unions with assets in excess of $500 million are not eligible for funding under this initiative. iv. MDI Capacity Building: The purpose of funding initiatives for lowincome-designated MDIs is to support and help preserve these institutions in furtherance of Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. Lowincome-designated MDI credit unions are often challenged to fund training for staff and volunteers or invest in technological upgrades, growth, and expansion. The MDI Capacity Building initiative will provide larger awards to low-income designated MDIs for training, mentoring, implementing new products and services, strategic planning, outreach, opening a new service facility in an underserved community, and other capacity building activities. This initiative allows these credit unions to undertake the many activities required to grow and meet the unique needs of their members. Only low-income-designated credit unions that also have self-designated as Minority Depository Institutions as of the date of their grant application are eligible for funding under this initiative. To ensure funds for these activities reach credit unions with the greatest need regardless of size, no asset limitations will be placed on applicants for this initiative. v. Underserved Outreach: The Underserved Outreach initiative will help credit unions implement innovative outreach strategies to help close the wealth gap in underserved communities and for minority, veteran, and immigrant populations through new or expanded outreach efforts, such as opening a new service facility in an underserved community, creating financial education programs, and offering financial products and services. To ensure funds for these activities reach credit unions with the greatest need regardless of size, no asset limitations will be placed on applicants for this initiative. vi. Impact Through Innovation: The NCUA’s priority for the CDRLF is to support the growth of credit unions and make a positive impact on communities that are financially underserved. Providing greater support will require larger awards and longer performance periods. The Impact Through Innovation initiative will encourage credit unions to meet challenges affecting underserved communities, targeting banking deserts, affordable housing, credit invisibles, and financial technologies (fintechs) in new ways. As E:\FR\FM\02APN1.SGM 02APN1 Federal Register / Vol. 89, No. 64 / Tuesday, April 2, 2024 / Notices part of the 2023 CDRLF Pilot grant initiative, funds will be available only to credit unions that received a 2023 CDRLF Pilot grant under the Impact Through Innovation initiative. The Impact Through Innovation initiative is a multi-year award implemented as a continuation grant. Funds are available for the second performance period of these projects. Credit unions are eligible to receive funding up to $100,000 in 2024. Subsequent awards are dependent on successful project performance and the availability of future congressional appropriations. See the 2023 Community Development Revolving Loan Fund Pilot Grant Application Guidelines for additional details. 2. Maximum Award Amount The maximum amount for a CDRLF award is determined by the funding initiative. There is no minimum amount for CDRLF awards. The maximum award amount for each funding initiative is provided below. i. Training—$5,000 ii. Digital Services and Cybersecurity— $10,000 iii. Consumer Financial Protection— $10,000 iv. MDI Capacity Building—$50,000 v. Underserved Outreach—$50,000 vi. Impact Through Innovation— $100,000 C. Eligibility Information khammond on DSKJM1Z7X2PROD with NOTICES 1. Eligible Applicants This NOFO is open to low-incomedesignated credit unions that meet the eligibility requirements defined in 12 CFR part 705. i. Non-Federally Insured Applicants: Each Applicant that is a non-federally insured, state-chartered credit union must submit additional application materials. These additional materials are more fully described in 12 CFR 705.7(b)(3) and in the application. a. Non-federally insured, statechartered credit unions must agree to be examined by the NCUA. The specific terms and covenants pertaining to this condition will be provided in the award agreement of the Participating Credit Union. 2. Employer Identification Number Each application must include a valid and current Employer Identification Number (EIN) issued by the U.S. Internal Revenue Service (IRS). The NCUA will not consider an application that does not include a valid and current EIN. Such an application will be deemed incomplete and will be declined. Information on how to obtain an EIN may be found on the IRS’ website. VerDate Sep<11>2014 17:06 Apr 01, 2024 Jkt 262001 22747 3. System for Award Management All Applicants are required by federal law to have an active registration with the federal government’s System for Award Management (SAM) prior to applying for funding. SAM is a webbased, government-wide application that collects, validates, stores, and disseminates business information about the Federal Government’s trading partners in support of the contract awards, grants, and electronic payment processes. An active SAM account status and unique entity identifier (UEI) number are required to apply for a CDRLF grant. Credit unions receive a UEI upon registration in SAM. Once registered, credit unions must recertify and maintain an active status annually. There is no charge for the SAM registration and recertification process. SAM users can register or recertify their account by following the instructions for registration. The NCUA will not consider an applicant that does not have an active SAM status. Applications must be submitted online at https://www.cybergrants.com/ncua/ applications. The application and related documents are also located on the NCUA’s website at https:// www.ncua.gov/services/Pages/ resources-expansion/grants-loans.aspx. 4. Other Eligibility Requirements i. Financial Viability: Applicants must meet the grant award standards established by the NCUA, including those pertaining to financial viability, as set forth in the application and defined in 12 CFR 705.7(b) and 705.7(c). ii. Compliance with Past Agreements: In evaluating funding requests under this NOFO, the NCUA will consider an Applicant’s record of compliance with past agreements. The NCUA, in its sole discretion, will determine whether to consider an application from an Applicant with a past record of noncompliance, including any deobligation of funds (removal of unused awards). a. If an Applicant is in default of a previously executed agreement with the NCUA, the NCUA will not consider an application for funding under this NOFO. b. If an Applicant is a prior Participating Credit Union under the CDRLF and has unused awards as of the date of application, the NCUA may request a narrative from the Applicant that addresses the reason for its record of noncompliance. The NCUA, in its sole discretion, will determine whether the reason is sufficient to proceed with the review of the application. The NCUA will accept applications beginning May 1, 2024, at 9 a.m. Eastern. Applications must be submitted by July 1, 2024 at 11:59 p.m. Eastern. Late applications will not be considered. D. Application and Submission Information 1. Application Under this NOFO, all applications must be submitted online in the NCUA’s web-based application system, CyberGrants, to be considered. PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 2. Minimum Application Content A complete application will consist of similar components for each funding initiative. At a minimum, each initiative requires a narrative that describes the Applicant’s proposed use of the CDRLF award. The NCUA may waive this requirement for funding initiatives with a defined list of allowable project activities. The NCUA will identify the funding initiatives that do not require a narrative response in the grant round guidelines. Other application contents that are specific to a particular funding initiative will be defined in the grant round guidelines found on the NCUA’s website. 3. Submission Dates and Times E. Application Review Information 1. Eligibility and Completeness Review The NCUA will review each application to determine whether it is complete and that the Applicant meets the eligibility requirements described in the regulations, the Grant Round Guidelines, and in this NOFO. An incomplete application or one that does not meet the eligibility requirements may be declined without further consideration. 2. Evaluation Criteria Each funding initiative, due to its structure and impact, may have different evaluation criteria assigned. The evaluation criteria for each funding initiative are fully described in the Grant Round Guidelines. 3. Application Review The purpose of the application review is to determine whether an application satisfies the criteria for the applicable funding initiative. The NCUA will evaluate each application for adherence to the grant round guidelines. The NCUA may contact the Applicant during its review to clarify or confirm information in the application. The Applicant must respond within the time specified by the NCUA or the NCUA, in its sole discretion, may decline the E:\FR\FM\02APN1.SGM 02APN1 22748 Federal Register / Vol. 89, No. 64 / Tuesday, April 2, 2024 / Notices application without further consideration. request requirements will be described in the post-award guidelines. 4. Scoring and Funding Decision The NCUA uses a scoring system that establishes a ranking position for each application. The applications will be ranked according to the scoring criteria set forth for each funding initiative in the Grant Round Guidelines. G. Federal Awarding Agency F. Federal Award Administration 1. NCUA Award Notice The NCUA will notify each Applicant of its funding decision by email. In addition, the NCUA will announce the successful applications through a press release that includes a list of the Awardees. Applicants that are approved for funding will also receive instructions on how to proceed with the post-award activities. khammond on DSKJM1Z7X2PROD with NOTICES 2. Administrative and National Policy Requirements i. Award Agreement: The specific terms and conditions will be established in the award agreement each Participating Credit Union must sign prior to formally accepting an award. Each Participating Credit Union under this NOFO must enter into an agreement with the NCUA before the NCUA will disburse the award funds. The agreement includes the terms and conditions of funding, including but not limited to the (i) award amount, (ii) grant award details, (iii) accounting treatment, (iv) signature pages, and (v) reporting requirements. ii. Failure to Sign Agreement: The NCUA, in its sole discretion, may rescind an award if the Applicant fails to sign and return the agreement or any other requested documentation, within the time specified by the NCUA. 3. Payment Process Awardees will be responsible for the timely completion of all post-award activities. This includes, but it is not limited to, signing the award agreement and completing a payment request for the awarded funds. The payment requirements vary by funding initiative and are detailed in the application and post-award guidelines. The payment request may require, all or a combination of the following items: (i) certification of expenses; (ii) project related documentation; (iii) a summary of project accomplishments and outcomes; or (iv) a certification form signed by a credit union official (such as CEO, manager, or Board Chairperson) authorized to request the payment and make the certifications. The NCUA, in its sole discretion, may modify these requirements. Additional payment VerDate Sep<11>2014 17:06 Apr 01, 2024 Jkt 262001 1. Methods of Contact Further information can be found at https://www.ncua.gov/services/Pages/ resources-expansion/grants-loans.aspx. For questions related to the CDRLF, email the NCUA’s Office of Credit Union Resources and Expansion at CUREAPPS@ncua.gov. 2. Information Technology Support People who have visual or mobility impairments that prevent them from using the NCUA’s website should call (703) 518–6610 for guidance (this is not a toll-free number). H. Grant Terms and Conditions 1. Every Applicant Must Certify it Meets and Agrees to the Following Terms and Conditions Prior To Submitting an Application i. Applicant is a low-incomedesignated credit union, as defined in Section 701.34 of the NCUA’s Rules and Regulations. ii. Applicant shall comply with U.S. Office of Management and Budget, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. iii. Applicants are required to have an audit conducted if they hold $750,000 or more in Federal awards during a fiscal year. Applicants that hold less than $750,000 in Federal awards are exempt from this requirement. For example, if a credit union uses a $250,000 loan from the NCUA’s CDRLF and a $500,000 grant from the Community Development Financial Institutions Fund, totaling $750,000 in Federal awards during the same fiscal year, then the credit union must have an audit conducted. iv. Applicant is responsible for the efficient and effective administration of the Federal Award through application of sound management practices. Applicant assumes the responsibility for administering Federal Funds in a manner consistent with underlying agreements, program objectives, and the term and conditions of the Federal Award. v. No employee, contractor, consultant, or vendor has participated substantially for this grant-funded activity, nor otherwise benefited directly or indirectly from the grant, who, to its knowledge (assuming reasonable diligence), has a ‘‘covered relationship’’ with an NCUA employee who presently holds a position that would enable him or her to influence a PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 pending or future grant award, or a payment of permitted expenses thereunder. vi. An employee, contractor, consultant, or vendor of the Applicant would have such a ‘‘covered relationship’’ if he or she were either: (1) a member of the household of an NCUA employee who presently holds a position that would enable him or her to influence a pending or future grant award, or a payment thereunder; or (2) a relative of such an NCUA employee with whom he or she has a close personal relationship. 5 CFR 2635.502(b)(1)(ii). vii. Applicant must disclose in writing to the NCUA any potential conflict of interest in accordance with applicable Federal awarding agency policy. viii. Per 2 CFR 200.113, Applicant must disclose all violations of Federal criminal law involving fraud, bribery, or gratuity violations potentially affecting the award. ix. The Applicant conducts its activities such that no person is excluded from participation in, is denied the benefits of, or is subject to discrimination on the basis of race, color, national origin, sex (including pregnancy, sexual orientation, or gender identity), age, or disability in the distribution of services and/or benefits provided under this grant program. The credit union agrees to provide evidence of its compliance as required by the NCUA. Furthermore, credit unions should ensure compliance with title VI of the Civil Rights Act of 1964. x. If a credit union enters into commitments for a project before the grant decision is made, the credit union will be obligated to pay project expenses from its own funds should the grant not be approved; if the grant is approved, the credit union may request payment for expenses incurred as of the publication date of the notice of funding opportunity associated with this funding round. xi. Requests to reallocate or change approved project(s) and/or request an extension to the deadline must be submitted in writing prior to the original deadline and approved by the NCUA prior to Applicant incurring expenses. xii. The Applicant is aware that the NCUA will correspond with the credit union regarding this application by email, using the email address provided in this application. xiii. Applicant hereby acknowledges that the NCUA reserves full discretion to deny payment under this grant in the event the NCUA determines the Applicant is, or previously was, either E:\FR\FM\02APN1.SGM 02APN1 Federal Register / Vol. 89, No. 64 / Tuesday, April 2, 2024 / Notices in breach of any condition or limitation in the grant guidelines or in breach of the ‘covered relationship’ restriction set forth above. xiv. Information included in Outcome Summary or Success Stories is considered by the NCUA to be Research Data and is governed by 2 CFR 200.315 and may be made publicly available. xv. Applicant is aware that any false, fictitious, or fraudulent information or the omission of any material fact may subject Applicant to criminal, civil or administrative penalties for fraud, false statements, false claims, or otherwise. (U.S. Code title 18, section 1001 and title 31, sections 3729–3730, and 3801– 3812). xvi. Applicant is aware recipients and subrecipients are prohibited from obligating or expending loan or grant funds to procure or obtain equipment, services, or systems that use covered telecommunications equipment or services as a substantial or essential component of any system or as critical technology as part of any system in accordance with Public Law 115–232, section 889 and 2 CFR 200.216. xvii. Applicants receiving payment in advance must maintain both written procedures that minimize the time elapsing between the transfer of funds and disbursement by the non-Federal entity, and financial management systems that meet the standards for fund control and accountability. By the National Credit Union Administration Board. Ji Kwon, Acting Secretary of the Board. [FR Doc. 2024–06962 Filed 4–1–24; 8:45 am] BILLING CODE 7535–01–P NATIONAL CREDIT UNION ADMINISTRATION Revision of Agency Information Collection of a Previously Approved Collection; Request for Comments National Credit Union Administration (NCUA). ACTION: Notice of submission to the Office of Management and Budget. AGENCY: As required by the Paperwork Reduction Act of 1995, The National Credit Union Administration (NCUA) is submitting the following extensions and revisions of currently approved collections to the Office of Management and Budget (OMB) for renewal. DATES: Written comments should be received on or before May 2, 2024 to be assured consideration. ADDRESSES: Written comments and recommendations for the proposed khammond on DSKJM1Z7X2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 17:06 Apr 01, 2024 Jkt 262001 information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. FOR FURTHER INFORMATION CONTACT: Copies of the submission may be obtained by contacting Mahala Vixamar at (703) 718–1155, emailing PRAComments@ncua.gov, or viewing the entire information collection request at www.reginfo.gov. SUPPLEMENTARY INFORMATION: OMB Number: 3133–0102. Title: Truth in Lending (TILA); Regulation Z. Type of Review: Revision of a currently approved collection. Abstract: The Truth in Lending Act (TILA) was enacted to foster comparison credit shopping and informed credit decision making by requiring accurate disclosure of the costs and terms of credit to consumers and to protect consumers against inaccurate and unfair credit billing practices. TILA has been revised numerous times since it took effect, notably by passage of the Fair Credit Billing Act of 1974, the Consumer Leasing Act of 1976, the Truth in Lending Simplification and Reform Act of 1980, the Fair Credit and Charge Card Disclosure Act of 1988, and the Home Equity Loan Consumer Protection Act of 1988. Historically, TILA was implemented by the Board of Governors of the Federal Reserve System’s (FRB) Regulation Z, 12 CFR part 226. The Dodd-Frank Wall Street Reform and Consumer Protection Act transferred FRB’s rulemaking authority for TILA to the Consumer Financial Protection Bureau (CFPB). Regulation Z contains several provisions that impose information collection requirements: The information collection requirements for open-end credit products; the information collection requirements for closed-end credit; the information collection requirements that apply to both open- and closed-end mortgage credit; the information collection requirements for specific residential mortgage types-namely, reverse mortgages and high cost mortgages with rates and fees above specified thresholds; the information collection requirements for private education loans; and information collection requirements related to Regulation Z’s advertising and record retention rules. The collection of information pursuant to Part 1026 is triggered by specific events and disclosures and PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 22749 must be provided to consumers within the time periods established under the regulation. To ease the compliance cost (particularly for small credit unions), model forms and clauses are appended to the regulation. Affected Public: Private Sector: Notfor-profit institutions. Estimated Number of Respondents: 4,622. Estimated Number of Responses per Respondent: 9,239.392. Estimated Total Annual Responses: 42,704,470. Estimated Hours per Response: .08541. Estimated Total Annual Burden Hours: 3,647,389. Reason for Change: The number of responses per respondent increased and the estimated hours per response increased. OMB Number: 3133–0180. Title: Liquidity and Contingency Funding Plans, 12 CFR 741.12. Type of Review: Revision of a currently approved collection. Abstract: Section 741.12 establishes a three-tier framework for FICUs, based on asset size. FICUs with assets under $50 million must maintain a basic policy, those with assets of $50 million and over must maintain a contingency funding plan, and those with assets over $250 million must maintain a contingency funding plan and establish a federal liquidity contingency source. The reviews will conclude if federally insured credit unions are maintaining appropriate liquidity levels for the amount of balance sheet risk exposure and help prevent losses to credit unions and the NCUSIF. Affected Public: Private Sector: Notfor-profit institutions. Estimated Number of Respondents: 4,645. Estimated Number of Responses per Respondent: 1. Estimated Total Annual Responses: 4,645. Estimated Hours per Response: .87589. Estimated Total Annual Burden Hours: 4068.50. Reason for Change: The number of respondents decreased. OMB Number: 3133–0186. Title: Higher-Risk Mortgage Appraisals. Type of Review: Revision of a currently approved collection. Abstract: Section 1471 of the DoddFrank Act established Truth in Lending section 129H, which contains appraisal requirements applicable to higher-risk mortgages and prohibits a creditor from extending credit in the form of a higher- E:\FR\FM\02APN1.SGM 02APN1

Agencies

[Federal Register Volume 89, Number 64 (Tuesday, April 2, 2024)]
[Notices]
[Pages 22745-22749]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-06962]


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NATIONAL CREDIT UNION ADMINISTRATION


Community Development Revolving Loan Fund Access for Credit 
Unions

ACTION: Notice of funding opportunity.

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    Funding Opportunity Title: Community Development Revolving Loan 
Fund (CDRLF) Grants.
    Catalog of Federal Domestic Assistance (CFDA) Number: 44.002.
    The National Credit Union Administration (NCUA) is issuing this 
Notice of Funding Opportunity (NOFO) to announce the availability of 
technical assistance grants (awards) for low-income-designated credit 
unions (LICUs) through the CDRLF. The CDRLF provides financial support 
in the form of loans and technical assistance grants that help credit 
unions support the communities in which they operate. All grant awards 
made under this NOFO are subject to funds availability and are at the 
NCUA's discretion.

Table of Contents

A. Program Description
B. Award Information
C. Eligibility Information
D. Application and Submission Information
E. Application Review Information
F. Federal Award Administration
G. Federal Awarding Agency
H. Grant Terms and Conditions

[[Page 22746]]

A. Program Description

    The purpose of the Community Development Revolving Loan Fund 
(CDRLF) is to assist LICUs in providing basic financial services to 
their members and to stimulate economic activities in their 
communities. Through the CDRLF, the NCUA provides financial support in 
the form of technical assistance grants to eligible credit unions to 
modernize, build capacity, and extend outreach into underserved 
communities.
    The NCUA will consider requests for various funding initiatives. 
More detailed information about the purpose of each initiative, amount 
of funds available, funding priorities, permissible uses of funds, 
funding limits, deadlines, and other pertinent details will be defined 
in the Grant Round Guidelines. In addition, the NCUA may periodically 
publish information regarding the CDRLF in Letters to Credit Unions, 
press releases, and/or on the agency website, NCUA.gov.

1. Funding Initiatives

    The funding initiatives available during 2024 include:
    i. Training;
    ii. Digital Services and Cybersecurity;
    iii. Consumer Financial Protection;
    iv. MDI Capacity Building;
    v. Underserved Outreach; and
    vi. Impact Through Innovation.

2. Authority and Regulations

    i. Authority: 12 U.S.C. 1772c-1, 1756, 1757(5)(D), and (7)(I), 
1766, 1782, 1784, 1785 and 1786; and Further Consolidated 
Appropriations Act, 2024, Public Law 118-47, Div. B, Title V (2024).
    ii. Regulations: The regulation governing the CDRLF is found at 12 
CFR part 705. In general, this regulation governs the CDRLF, and sets 
forth the program requirements. Additional regulations related to the 
low-income designation are found at 12 CFR 701.34 and 741.204. For the 
purposes of this NOFO, an ``Applicant'' is a Participating Credit Union 
that submits a complete application to the NCUA under the CDRLF. The 
NCUA encourages Applicants to review the regulations, this NOFO, the 
Grant Round Guidelines, and other program materials for a complete 
understanding of the program.

B. Award Information

    Up to $3,465,000 in awards will be available through this NOFO. The 
NCUA reserves the right to: (i) award more or less than the amounts 
cited above; (ii) fund, in whole or in part, any, all, or none of the 
applications submitted in response to this NOFO; and (iii) reallocate 
funds available under this NOFO to other programs, particularly if the 
NCUA finds that the number of awards made under this NOFO is fewer than 
projected. General information about the purpose of each funding 
initiative and the maximum award amount is provided below. Additional 
initiative information will be detailed in the 2024 Community 
Development Revolving Loan Fund Grant Round Application Guidelines 
found on the NCUA's website.

1. Purpose of Funding Initiatives

    i. Training: The training initiative aims to strengthen credit 
union management's leadership skills and promote succession planning. 
Credit unions will be able to use funds to develop a management 
succession plan or to enroll an employee in advanced training courses 
to enhance leadership skills and operational knowledge of credit 
unions. To direct grant funds to credit unions with the greatest need 
for resources, credit unions with assets in excess of $100 million are 
not eligible for funding under this initiative.
    ii. Digital Services and Cybersecurity: This initiative is intended 
to increase access to safe, fair, and affordable digital financial 
products and services. Applicants can request funding for equipment 
needed to improve their remote work posture, upgrade equipment to 
current industry standards, or implement new financial products and 
services that provide members access to the credit union without 
physical access to the branch. Cybersecurity activities include 
cybersecurity training for board members and employees, procurement of 
software and hardware required for cybersecurity upgrades, contracts 
for external security services, business continuity, development or 
implementation of an incident response plan, vulnerability scans, or IT 
auditing and testing. To direct grant funds to credit unions with the 
greatest need for resources, credit unions with assets in excess of 
$250 million are not eligible for funding under this initiative.
    iii. Consumer Financial Protection: The purpose of this initiative 
is to ensure credit unions have the resources and expertise to protect 
credit union members and consumers, raise awareness of potential 
frauds, and facilitate access to fair and affordable financial 
services. Many credit unions need additional expertise, systems, and 
support to ensure consumer financial protection. Under this initiative, 
credit unions can obtain the resources, such as consultants, to train 
staff on consumer financial protection laws and regulations. To ensure 
funds for these activities reach credit unions with the greatest need 
for resources, credit unions with assets in excess of $500 million are 
not eligible for funding under this initiative.
    iv. MDI Capacity Building: The purpose of funding initiatives for 
low-income-designated MDIs is to support and help preserve these 
institutions in furtherance of Section 308 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989. Low-income-
designated MDI credit unions are often challenged to fund training for 
staff and volunteers or invest in technological upgrades, growth, and 
expansion. The MDI Capacity Building initiative will provide larger 
awards to low-income designated MDIs for training, mentoring, 
implementing new products and services, strategic planning, outreach, 
opening a new service facility in an underserved community, and other 
capacity building activities. This initiative allows these credit 
unions to undertake the many activities required to grow and meet the 
unique needs of their members. Only low-income-designated credit unions 
that also have self-designated as Minority Depository Institutions as 
of the date of their grant application are eligible for funding under 
this initiative. To ensure funds for these activities reach credit 
unions with the greatest need regardless of size, no asset limitations 
will be placed on applicants for this initiative.
    v. Underserved Outreach: The Underserved Outreach initiative will 
help credit unions implement innovative outreach strategies to help 
close the wealth gap in underserved communities and for minority, 
veteran, and immigrant populations through new or expanded outreach 
efforts, such as opening a new service facility in an underserved 
community, creating financial education programs, and offering 
financial products and services. To ensure funds for these activities 
reach credit unions with the greatest need regardless of size, no asset 
limitations will be placed on applicants for this initiative.
    vi. Impact Through Innovation: The NCUA's priority for the CDRLF is 
to support the growth of credit unions and make a positive impact on 
communities that are financially underserved. Providing greater support 
will require larger awards and longer performance periods. The Impact 
Through Innovation initiative will encourage credit unions to meet 
challenges affecting underserved communities, targeting banking 
deserts, affordable housing, credit invisibles, and financial 
technologies (fintechs) in new ways. As

[[Page 22747]]

part of the 2023 CDRLF Pilot grant initiative, funds will be available 
only to credit unions that received a 2023 CDRLF Pilot grant under the 
Impact Through Innovation initiative. The Impact Through Innovation 
initiative is a multi-year award implemented as a continuation grant. 
Funds are available for the second performance period of these 
projects. Credit unions are eligible to receive funding up to $100,000 
in 2024. Subsequent awards are dependent on successful project 
performance and the availability of future congressional 
appropriations. See the 2023 Community Development Revolving Loan Fund 
Pilot Grant Application Guidelines for additional details.

2. Maximum Award Amount

    The maximum amount for a CDRLF award is determined by the funding 
initiative. There is no minimum amount for CDRLF awards. The maximum 
award amount for each funding initiative is provided below.

i. Training--$5,000
ii. Digital Services and Cybersecurity--$10,000
iii. Consumer Financial Protection--$10,000
iv. MDI Capacity Building--$50,000
v. Underserved Outreach--$50,000
vi. Impact Through Innovation--$100,000

C. Eligibility Information

1. Eligible Applicants

    This NOFO is open to low-income-designated credit unions that meet 
the eligibility requirements defined in 12 CFR part 705.
    i. Non-Federally Insured Applicants: Each Applicant that is a non-
federally insured, state-chartered credit union must submit additional 
application materials. These additional materials are more fully 
described in 12 CFR 705.7(b)(3) and in the application.
    a. Non-federally insured, state-chartered credit unions must agree 
to be examined by the NCUA. The specific terms and covenants pertaining 
to this condition will be provided in the award agreement of the 
Participating Credit Union.

2. Employer Identification Number

    Each application must include a valid and current Employer 
Identification Number (EIN) issued by the U.S. Internal Revenue Service 
(IRS). The NCUA will not consider an application that does not include 
a valid and current EIN. Such an application will be deemed incomplete 
and will be declined. Information on how to obtain an EIN may be found 
on the IRS' website.

3. System for Award Management

    All Applicants are required by federal law to have an active 
registration with the federal government's System for Award Management 
(SAM) prior to applying for funding. SAM is a web-based, government-
wide application that collects, validates, stores, and disseminates 
business information about the Federal Government's trading partners in 
support of the contract awards, grants, and electronic payment 
processes. An active SAM account status and unique entity identifier 
(UEI) number are required to apply for a CDRLF grant. Credit unions 
receive a UEI upon registration in SAM. Once registered, credit unions 
must recertify and maintain an active status annually. There is no 
charge for the SAM registration and recertification process. SAM users 
can register or recertify their account by following the instructions 
for registration. The NCUA will not consider an applicant that does not 
have an active SAM status.

4. Other Eligibility Requirements

    i. Financial Viability: Applicants must meet the grant award 
standards established by the NCUA, including those pertaining to 
financial viability, as set forth in the application and defined in 12 
CFR 705.7(b) and 705.7(c).
    ii. Compliance with Past Agreements: In evaluating funding requests 
under this NOFO, the NCUA will consider an Applicant's record of 
compliance with past agreements. The NCUA, in its sole discretion, will 
determine whether to consider an application from an Applicant with a 
past record of noncompliance, including any deobligation of funds 
(removal of unused awards).
    a. If an Applicant is in default of a previously executed agreement 
with the NCUA, the NCUA will not consider an application for funding 
under this NOFO.
    b. If an Applicant is a prior Participating Credit Union under the 
CDRLF and has unused awards as of the date of application, the NCUA may 
request a narrative from the Applicant that addresses the reason for 
its record of noncompliance. The NCUA, in its sole discretion, will 
determine whether the reason is sufficient to proceed with the review 
of the application.

D. Application and Submission Information

1. Application

    Under this NOFO, all applications must be submitted online in the 
NCUA's web-based application system, CyberGrants, to be considered. 
Applications must be submitted online at https://www.cybergrants.com/ncua/applications. The application and related documents are also 
located on the NCUA's website at https://www.ncua.gov/services/Pages/resources-expansion/grants-loans.aspx.

2. Minimum Application Content

    A complete application will consist of similar components for each 
funding initiative. At a minimum, each initiative requires a narrative 
that describes the Applicant's proposed use of the CDRLF award. The 
NCUA may waive this requirement for funding initiatives with a defined 
list of allowable project activities. The NCUA will identify the 
funding initiatives that do not require a narrative response in the 
grant round guidelines. Other application contents that are specific to 
a particular funding initiative will be defined in the grant round 
guidelines found on the NCUA's website.

3. Submission Dates and Times

    The NCUA will accept applications beginning May 1, 2024, at 9 a.m. 
Eastern. Applications must be submitted by July 1, 2024 at 11:59 p.m. 
Eastern. Late applications will not be considered.

E. Application Review Information

1. Eligibility and Completeness Review

    The NCUA will review each application to determine whether it is 
complete and that the Applicant meets the eligibility requirements 
described in the regulations, the Grant Round Guidelines, and in this 
NOFO. An incomplete application or one that does not meet the 
eligibility requirements may be declined without further consideration.

2. Evaluation Criteria

    Each funding initiative, due to its structure and impact, may have 
different evaluation criteria assigned. The evaluation criteria for 
each funding initiative are fully described in the Grant Round 
Guidelines.

3. Application Review

    The purpose of the application review is to determine whether an 
application satisfies the criteria for the applicable funding 
initiative. The NCUA will evaluate each application for adherence to 
the grant round guidelines. The NCUA may contact the Applicant during 
its review to clarify or confirm information in the application. The 
Applicant must respond within the time specified by the NCUA or the 
NCUA, in its sole discretion, may decline the

[[Page 22748]]

application without further consideration.

4. Scoring and Funding Decision

    The NCUA uses a scoring system that establishes a ranking position 
for each application. The applications will be ranked according to the 
scoring criteria set forth for each funding initiative in the Grant 
Round Guidelines.

F. Federal Award Administration

1. NCUA Award Notice

    The NCUA will notify each Applicant of its funding decision by 
email. In addition, the NCUA will announce the successful applications 
through a press release that includes a list of the Awardees. 
Applicants that are approved for funding will also receive instructions 
on how to proceed with the post-award activities.

2. Administrative and National Policy Requirements

    i. Award Agreement: The specific terms and conditions will be 
established in the award agreement each Participating Credit Union must 
sign prior to formally accepting an award. Each Participating Credit 
Union under this NOFO must enter into an agreement with the NCUA before 
the NCUA will disburse the award funds. The agreement includes the 
terms and conditions of funding, including but not limited to the (i) 
award amount, (ii) grant award details, (iii) accounting treatment, 
(iv) signature pages, and (v) reporting requirements.
    ii. Failure to Sign Agreement: The NCUA, in its sole discretion, 
may rescind an award if the Applicant fails to sign and return the 
agreement or any other requested documentation, within the time 
specified by the NCUA.

3. Payment Process

    Awardees will be responsible for the timely completion of all post-
award activities. This includes, but it is not limited to, signing the 
award agreement and completing a payment request for the awarded funds. 
The payment requirements vary by funding initiative and are detailed in 
the application and post-award guidelines.
    The payment request may require, all or a combination of the 
following items: (i) certification of expenses; (ii) project related 
documentation; (iii) a summary of project accomplishments and outcomes; 
or (iv) a certification form signed by a credit union official (such as 
CEO, manager, or Board Chairperson) authorized to request the payment 
and make the certifications. The NCUA, in its sole discretion, may 
modify these requirements. Additional payment request requirements will 
be described in the post-award guidelines.

G. Federal Awarding Agency

1. Methods of Contact

    Further information can be found at https://www.ncua.gov/services/Pages/resources-expansion/grants-loans.aspx. For questions related to 
the CDRLF, email the NCUA's Office of Credit Union Resources and 
Expansion at [email protected].

2. Information Technology Support

    People who have visual or mobility impairments that prevent them 
from using the NCUA's website should call (703) 518-6610 for guidance 
(this is not a toll-free number).

H. Grant Terms and Conditions

1. Every Applicant Must Certify it Meets and Agrees to the Following 
Terms and Conditions Prior To Submitting an Application

    i. Applicant is a low-income-designated credit union, as defined in 
Section 701.34 of the NCUA's Rules and Regulations.
    ii. Applicant shall comply with U.S. Office of Management and 
Budget, Uniform Administrative Requirements, Cost Principles, and Audit 
Requirements for Federal Awards.
    iii. Applicants are required to have an audit conducted if they 
hold $750,000 or more in Federal awards during a fiscal year. 
Applicants that hold less than $750,000 in Federal awards are exempt 
from this requirement.
    For example, if a credit union uses a $250,000 loan from the NCUA's 
CDRLF and a $500,000 grant from the Community Development Financial 
Institutions Fund, totaling $750,000 in Federal awards during the same 
fiscal year, then the credit union must have an audit conducted.
    iv. Applicant is responsible for the efficient and effective 
administration of the Federal Award through application of sound 
management practices. Applicant assumes the responsibility for 
administering Federal Funds in a manner consistent with underlying 
agreements, program objectives, and the term and conditions of the 
Federal Award.
    v. No employee, contractor, consultant, or vendor has participated 
substantially for this grant-funded activity, nor otherwise benefited 
directly or indirectly from the grant, who, to its knowledge (assuming 
reasonable diligence), has a ``covered relationship'' with an NCUA 
employee who presently holds a position that would enable him or her to 
influence a pending or future grant award, or a payment of permitted 
expenses thereunder.
    vi. An employee, contractor, consultant, or vendor of the Applicant 
would have such a ``covered relationship'' if he or she were either: 
(1) a member of the household of an NCUA employee who presently holds a 
position that would enable him or her to influence a pending or future 
grant award, or a payment thereunder; or (2) a relative of such an NCUA 
employee with whom he or she has a close personal relationship. 5 CFR 
2635.502(b)(1)(ii).
    vii. Applicant must disclose in writing to the NCUA any potential 
conflict of interest in accordance with applicable Federal awarding 
agency policy.
    viii. Per 2 CFR 200.113, Applicant must disclose all violations of 
Federal criminal law involving fraud, bribery, or gratuity violations 
potentially affecting the award.
    ix. The Applicant conducts its activities such that no person is 
excluded from participation in, is denied the benefits of, or is 
subject to discrimination on the basis of race, color, national origin, 
sex (including pregnancy, sexual orientation, or gender identity), age, 
or disability in the distribution of services and/or benefits provided 
under this grant program. The credit union agrees to provide evidence 
of its compliance as required by the NCUA. Furthermore, credit unions 
should ensure compliance with title VI of the Civil Rights Act of 1964.
    x. If a credit union enters into commitments for a project before 
the grant decision is made, the credit union will be obligated to pay 
project expenses from its own funds should the grant not be approved; 
if the grant is approved, the credit union may request payment for 
expenses incurred as of the publication date of the notice of funding 
opportunity associated with this funding round.
    xi. Requests to reallocate or change approved project(s) and/or 
request an extension to the deadline must be submitted in writing prior 
to the original deadline and approved by the NCUA prior to Applicant 
incurring expenses.
    xii. The Applicant is aware that the NCUA will correspond with the 
credit union regarding this application by email, using the email 
address provided in this application.
    xiii. Applicant hereby acknowledges that the NCUA reserves full 
discretion to deny payment under this grant in the event the NCUA 
determines the Applicant is, or previously was, either

[[Page 22749]]

in breach of any condition or limitation in the grant guidelines or in 
breach of the `covered relationship' restriction set forth above.
    xiv. Information included in Outcome Summary or Success Stories is 
considered by the NCUA to be Research Data and is governed by 2 CFR 
200.315 and may be made publicly available.
    xv. Applicant is aware that any false, fictitious, or fraudulent 
information or the omission of any material fact may subject Applicant 
to criminal, civil or administrative penalties for fraud, false 
statements, false claims, or otherwise. (U.S. Code title 18, section 
1001 and title 31, sections 3729-3730, and 3801-3812).
    xvi. Applicant is aware recipients and subrecipients are prohibited 
from obligating or expending loan or grant funds to procure or obtain 
equipment, services, or systems that use covered telecommunications 
equipment or services as a substantial or essential component of any 
system or as critical technology as part of any system in accordance 
with Public Law 115-232, section 889 and 2 CFR 200.216.
    xvii. Applicants receiving payment in advance must maintain both 
written procedures that minimize the time elapsing between the transfer 
of funds and disbursement by the non-Federal entity, and financial 
management systems that meet the standards for fund control and 
accountability.

    By the National Credit Union Administration Board.
Ji Kwon,
Acting Secretary of the Board.
[FR Doc. 2024-06962 Filed 4-1-24; 8:45 am]
BILLING CODE 7535-01-P
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