Proposed Agency Information Collection Activities; Comment Request, 60662-60664 [2024-16460]

Agencies

• National Credit Union Administration

[Federal Register Volume 89, Number 144 (Friday, July 26, 2024)]
[Notices]
[Pages 60662-60664]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-16460]


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NATIONAL CREDIT UNION ADMINISTRATION


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

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SUMMARY: The NCUA has approved the publication of a proposal to revise 
and extend for three years the Credit Union Profile (Form 4501A), which 
is a currently approved information collection, for public comment. The 
NCUA is submitting the following extension and revision of the 
currently approved information collection to the OMB for review and 
clearance. The revisions are proposed to take effect with the December 
31, 2024 report date.

DATES: Comments must be received on or before September 24, 2024.

ADDRESSES: You may submit written comments on the information 
collection by any of the following methods:
    Federal Register Portal: https://www.federalregister.gov. Find this 
information collection by searching for ``National Credit Union 
Administration'', then selecting ``Past 90 days'', and scrolling 
through the list of documents.
    Office of Information and Regulatory Affairs: https://www.reginfo.gov/public/do/PRAMain. Find this information collection by 
selecting National Credit Union Administration in the ``Currently under 
Review'' area. Scroll until you see the Title ``Form 4501A Credit Union 
Profile'', then click on ``Comment''. For assistance in navigating 
www.reginfo.gov, please contact the Regulatory Information Service 
Center at (202) 482-7340.
    Regulations.gov: https://www.regulations.gov/search?filter=ncua. 
Find this information collection by scrolling through the search 
results and looking for Profile Form 2024-Q4.
    Rulemakings and Proposals for Comment: https://ncua.gov/regulation-supervision/rulemakings-proposals-comment. NCUA will post a link to the 
regulations.gov web page where you can submit a comment by selecting 
Comment.
    Mail: 1775 Duke Street, Suite 5067, Alexandria, Virginia 22314.
    Fax: 703-519-8161.
    Email: [email protected].
    Instructions: All submissions must be identified by the OMB Control 
Number 3133-0204 or by Document Number (Please send comments by one 
method only).

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by contacting Dacia Rogers at (703) 718-1155. You may also 
view the entire information collection request at www.reginfo.gov. 
Enhanced content is also available from the Notice on the Federal 
Register website (www.federalregister.gov). In addition, copies of the 
Profile Form and Instructions can be obtained at the NCUA's website 
(https://ncua.gov/regulation-supervision/regulatory-reporting/cuonline).

SUPPLEMENTARY INFORMATION: The NCUA proposes to extend for three years, 
with revision, the NCUA Form 4501A Credit Union Profile.
    OMB Number: 3133-0204.
    Title: NCUA Form 4501A Credit Union Profile.
    Type of Review: Revision and extension of a currently approved 
collection.
    Abstract: Sections 106 and 202 of the Federal Credit Union Act 
require federally insured credit unions (FICUs) to make financial and 
other reports to the NCUA. Section 741.6(a)(1) of the NCUA regulations 
requires all FICUs to submit a Profile within 10 days after an election 
or appointment of senior management or volunteer officials or within 30 
days of any change of the information in the Profile. Operational 
information reported on the Profile is essential to NCUA's supervision 
of federal credit unions. This information also facilitates NCUA 
monitoring of other credit unions with share accounts insured by the 
National Credit Union Share Insurance Fund (NCUSIF).
    Affected Public: Private sector: Not-for-profit institutions.
    Respondents: All federally insured credit unions.
    Estimated Number of Respondents: 4,572.

[[Page 60663]]

    Estimated Average Burden per Response: 2.0 hours.
    Estimated Total Annual Burden Hours: 36,576.
    Reason for Change: The number of respondents decreased.
    The proposed revisions to the Form 4501A instructions in this 
notice would not have a material impact on the existing burden 
estimates.
    Legal Basis and Need for Collections: The Profile information 
collections are mandatory under 12 U.S.C. 1756, 1766, and 1782. Except 
for select sensitive items, the Profile Form 4501A is not given 
confidential treatment.
    Credit union data reported on the Profile is essential to the NCUA 
supervision and regulation of federal credit unions. This information 
also facilitates the NCUA monitoring of other credit unions with share 
accounts insured by the National Credit Union Share Insurance Fund.
    Credit unions submit Profile data to the NCUA at least quarterly. 
Profile data serve a regulatory or public policy purpose by assisting 
the NCUA in fulfilling its mission of ensuring the safety and soundness 
of individual credit unions and the credit union system, protecting 
consumer financial rights, as well as agency-specific missions 
affecting federal and state-chartered credit unions, such as ensuring 
financial stability and administering share insurance.

Form 4501A Credit Union Profile--Proposed Changes

    General Information tab:
    (1) Adding the name of the credit union's automated anti-money 
laundering (AML) monitoring system to enhance NCUA's ability to 
evaluate a credit union's Bank Secrecy Act/AML program.
    (2) Separating the question relating to the credit union's field of 
membership from the Minority Depository Institution question relating 
to current members. The Interpretive Ruling and Policy Statement that 
establishes the criteria for a credit union to be considered a Minority 
Depository Institution was revised in March 2024.
    Contacts & Roles tab:
    (1) Adding an indicator for the email address that officials want 
to use to receive confidential credit union correspondence.
    (2) Adding ``or Audit'' everywhere the Supervisory Committee is 
mentioned to allow for differences in terminology between federal 
credit unions and federally insured state-chartered credit unions.
    Sites tab:
    (1) Adding an indicator for credit unions that operate exclusively 
online and do not have a physical site for member services. Exclusively 
online credit unions have not been available in the NCUA's Credit Union 
Locator because they do not offer Public Site Functions at a physical 
site. By indicating the credit union operates exclusively online, the 
credit union's information will be available in the NCUA's Credit Union 
Locator.
    (2) Adding ``ITM'' to the Public Site Functions to allow credit 
unions to report interactive teller machines, also known as ITMs. Also, 
adding clarifying text to the form to indicate credit union location 
information will be published in the NCUA's Credit Union Locator if at 
least one public site function is selected.
    Payment System Service Provider (PSSP) Information tab:
    (1) Removed EPN as a data item.
    (2) To enhance the NCUA's supervision of payment systems, adding:
    a. An indicator for credit unions that process electronic payments 
using SWIFT.
    b. Adding the name of the ACH operator the credit union uses for 
domestic ACH processing.
    c. Adding indicators for reporting participation in, or planned 
participation in, real-time payments or FedNow.
    d. Adding the names of the agents and technology service providers 
used if the credit union is participating, or plans to participate, in 
real-time payments or FedNow. This will enable NCUA to know how the 
credit union is managing funding, settlement, and liquidity functions 
and if it is using a third-party technology service provider.
    (3) Modifying the payment system service providers used by the 
credit union to provide specific payment services. Removing two data 
items. Adding seven payment services to the existing four payment 
services provided by payment system service providers. Modifying this 
question will expand the information reported and allow NCUA to focus 
supervision on the areas with the greatest risk.
    (4) Modifying the question about changing payment system service 
providers within the next 12 months to 24 months and adding new payment 
service(s) being added within the next 24 months. Adding new services 
can lead to increased risk if not managed properly. Having information 
about adding new payment services will enhance the NCUA's ability to 
monitor risk.
    (5) Modifying the question to collect the new payment system 
service providers planned to be used by the credit union to provide new 
payment services. Adding seven payment services to the existing four 
payment services planned to be provided by the new payment system 
service provider. Removing two data items. Adding new services can lead 
to increased risk if not managed properly. Having information about new 
payment services and payment service providers will enhance the NCUA's 
ability to monitor risk.
    (6) Adding an indicator for the credit union to report digitally- 
or instant-issued cards at any credit union location to enhance NCUA's 
supervision of payment systems.
    (7) Adding indicators for credit unions to report owning or leasing 
automated teller machines or interactive teller machines to enhance 
NCUA's supervision of payment systems.
    (8) Adding an indicator for the credit union to report originating 
same-day ACH transactions to enhance NCUA's supervision of payment 
systems.
    (9) Removing two data elements for the credit union to indicate if 
it performs domestic or international ACH transfers. These data 
elements were incorporated into existing questions.
    (10) Removing two data elements for the credit union to indicate if 
it performs domestic or international wire transfers. These data 
elements were incorporated into existing questions.
    (11) Adding three types of methods a member can use to initiate 
electronic payments due to the dynamic nature of payment systems.
    Information Technology tab:
    (1) Adding a question for credit unions to report the types of 
digital banking services they offer. For each service offered, the 
credit union will report the vendor and product name. Adding this 
question will expand the information reported related to digital 
services and allow NCUA to focus on the areas of greatest risk.
    (2) Modifying the core applications question to add two new core 
applications (general ledger and other) and separate the core 
application vendor from the core application product name. Modifying 
this question will expand the information reported related to core 
applications and allow NCUA to focus on the areas of greatest risk.
    (3) Adding a question for credit unions to report the Managed 
Security Service Provider service(s) the credit union uses. The vendor 
and product name will also be reported for the 24/7 network security 
monitoring and security operations center.

[[Page 60664]]

    Grants tab:
    (1) Removing the Grants tab. Grants awarded and received year-to-
date are reported on the Call Report.
    Merger Partner Registry tab:
    (1) Adding a question for a Minority Depository Institution credit 
union to express an interest in being considered a merger partner for a 
Minority Depository Institution.
    Request for Comment: Comments submitted in response to this notice 
will be summarized and included in the request for Office of Management 
and Budget approval. All comments will become a matter of public 
record. The public is invited to submit comments concerning: (a) 
whether the proposed revisions to the collection of information that 
are the subject of this notice are necessary for the proper performance 
of the function of the agency, including whether the information will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the collection of information as proposed to be revised, 
including the validity of the methodology and assumptions used; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the collection of 
information on the respondents, including the use of automated 
collection techniques or other forms of information technology.

    By the National Credit Union Administration Board.
Melane Conyers-Ausbrooks,
Secretary of the Board.
[FR Doc. 2024-16460 Filed 7-25-24; 8:45 am]
BILLING CODE 7535-01-P