[Federal Register Volume 78, Number 167 (Wednesday, August 28, 2013)]
[Notices]
[Pages 53171-53172]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-20939]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Submission to OMB for 
Reinstatement, With Change, of a Previously Approved Collection; 
Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Request for comment.

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SUMMARY: The NCUA intends to submit the following information 
collection to the Office of Management and Budget (OMB) for review and 
clearance under the Paperwork Reduction Act of 1995. This information 
collection is published to obtain comments from the public. The 
collection is related to the requirement that each federal credit union 
(FCU) must establish reasonable policies and procedures for 
implementing the red flag guidelines to identify possible risks to FCU 
members or to an FCU's safety and soundness. Each FCU also must develop 
an Identity Theft Prevention Program, provide staff training, and 
report to its board of directors, a board committee, or senior 
management, at least annually. Due to the transferring of agency 
responsibilities under the Dodd-Frank Wall Street Reform and Consumer 
Protection Act, (Dodd-Frank Act), this notice and collection have been 
modified since the 60-day notice to reflect the current regulatory 
landscape.

DATES: Comments will be accepted until September 27, 2013.

ADDRESSES: Interested parties are invited to submit written comments to 
the NCUA Contact and the OMB Reviewer listed below:

NCUA Contact: Tracy Crews, National Credit Union Administration, 1775 
Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-2861, 
Email: [email protected].
OMB Contact: Office of Management and Budget, ATTN: Desk Officer for 
the National Credit Union Administration, Office of Information and 
Regulatory Affairs, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Requests for additional information, a 
copy of the information collection request, or a copy of submitted 
comments should be directed to Tracy Crews at the National Credit Union 
Administration, 1775 Duke Street, Alexandria, VA 22314-3428, or at 
(703) 518-6444.
    E&I Contact: Program Officer Judy Graham [email protected], 703-518-
6360.

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    NCUA is reinstating and amending the collection for 3133-0175. This 
collection of information is required by Sections 114 of the Fair and 
Accurate Credit Transactions Act (FACT Act), Public Law 108-159, 
amending the Fair Credit Reporting Act, 15 U.S.C. 1681-1681x. NCUA is 
renewing its collection, and also updating the collection to reflect 
that a portion of the FACT Act authority has been transferred to the 
Bureau of Consumer Financial Protection (CFPB) pursuant to Title X of 
the Dodd-Frank Act, Public Law 111-203, 124 Stat. 1955, and republished 
as CFPB regulations at 76 FR 79308, Dec. 21, 2011. The burden estimates 
for this portion of the collection have been revised to remove the 
burden attributable to the four federally insured credit unions with 
over $10 billion in total assets, now carried by CFPB pursuant to 
section 1025 of the Dodd-Frank Act. As required by Section 114 of the 
FACT Act, Appendix J to 12 CFR part 717 contains red flag guidelines 
for FCUs to use in identifying patterns, practices, and specific forms 
of activity that indicate the possible existence of identity theft. In 
addition, 12 CFR 717.90 requires each FCU to establish reasonable 
policies and procedures to address the risk of identity theft that 
incorporate the guidelines. Pursuant to Section 717.91, credit card and 
debit card issuers must implement reasonable policies and procedures to 
assess the validity of a request for a change of address under certain 
circumstances.
    Section 717.90 requires each NCUA regulated FCUs that offers or 
maintains one or more covered accounts to develop and implement a 
written Identity Theft Prevention Program (Program). In developing the 
Program, financial institutions and creditors are required to consider 
the guidelines in Appendix J to part 717 and include those that are 
appropriate. The initial Program must be approved by the board of 
directors or an appropriate committee thereof. The board, an 
appropriate committee thereof, or a designated employee at the level of 
senior management must be involved in the oversight of the Program. In 
addition, staff members must be trained to carry out the Program. 
Pursuant to Section 717.91, each credit and debit card issuer is 
required to establish and implement policies and procedures to assess 
the validity of a change of address request under certain 
circumstances. Before issuing an additional or replacement card, the 
card issuer must notify the cardholder or use another means to assess 
the validity of the change of address.
    Burden estimate: The hourly burden increased despite a decline in 
respondents due to an increase in the estimated processing times. NCUA 
estimates 4,206 respondents (FCUs with assets of $10 million or less). 
Each FCU requires 111 hours annually for a total of 466,866 hours 
annually.
    Included in the NCUA estimates of the 4,206 annual respondents 
annually, two are new FCUs requiring a one-time additional 250 hours 
for program development. Therefore, the new FCUs incur an additional 
500 hours annually.
    Hence, NCUA's estimated total annual burden is 467,366 hours, based 
upon the 111 hours for the annual program and additional 250 hours for 
new FCU program development.
    The NCUA requests that you send your comments on this collection to 
the location listed in the addresses section. Your comments should 
address: (a) The necessity of the information collection for the proper 
performance of NCUA, including whether the information will have 
practical utility; (b) the accuracy of our estimate of the burden hours 
of the collection of information, including the validity of the 
methodology and assumptions used; (c) ways we could enhance the 
quality, utility, and clarity of the information to be collected; and 
(d) ways we could minimize the burden of the collection of the 
information on the respondents such as through the use of automated 
collection techniques or other forms of information technology. It is 
NCUA's policy to make all comments available to the public for review.

[[Page 53172]]

II. Data

    Title: Identity Theft Red Flags under the FACT Act of 2003, 12 CFR 
Part 717.
    OMB Number: 3133-0175.
    Form Number: None.
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Description: This collection of information is pursuant to 
regulations implementing Sections 114 of the FACT Act related to 
guidelines for identifying patterns, practices and activity indicative 
of possible identity theft. The FACT Act regulations require FCUs to 
establish policies and procedures to implement the red flag guidelines.
    Respondents: Federal Credit Unions.
    Estimated No. of Respondents/Record keepers: 4,206.
    Estimated Burden Hours per Response: 111 hours.
    Frequency of Response: Initial and Annual.
    Estimated Total Annual Burden Hours: 467,366
    Estimated Total Annual Cost: N/A.

    By the National Credit Union Administration Board on August 22, 
2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013-20939 Filed 8-27-13; 8:45 am]
BILLING CODE 7535-01-P