[Federal Register Volume 78, Number 167 (Wednesday, August 28, 2013)]
[Notices]
[Pages 53170-53171]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-20941]


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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. NCUA has 
authorized federal credit unions to advance money to members to cover 
account deficits without having a credit application on file if the 
credit union has a written overdraft policy. NCUA has also authorized 
federally insured credit unions to offer lending-related incentive pay 
to employees, provided they establish written policies regarding such 
plans.

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.

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    NCUA is reinstating the collection of information for 3133-0139. 
NCUA has authorized federal credit unions to advance money to members 
to cover account deficits without having a credit application on file 
if the credit union has a written overdraft policy. 12 CFR 
701.21(c)(3). NCUA believes a written policy is necessary to ensure 
safety and soundness in the credit union industry and to protect the 
interests of credit union members where a federal credit union provides 
overdraft protection to a member without having his or her credit 
application on file. NCUA has also authorized federally insured credit 
unions to offer lending-related incentive pay to employees, provided 
they establish written policies regarding such plans. 12 CFR 
701.21(c)(8). NCUA believes those written policies are necessary to 
ensure a plan is fully considered before being adopted and for the 
examination process. NCUA examiners use the information in these 
policies to review for safety and soundness. This submission represents 
an adjustment to the recordkeeping hour and cost burden since the last 
submission. Based on information in March 2013 call reports, we 
estimate approximately 1,725 federal credit unions are required to have 
written overdraft policies and approximately 575 federally insured 
credit unions are required to have written policies for lending-related 
employee incentive pay plans.
    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 and cost) 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.

II. Data

    Title: Organization and Operations of Federal Credit Unions (12 CFR 
Part 701), (previously titled Overdraft and Lending-Related Employee 
Incentive Pay Plan Policies).
    OMB Number: 3133-0139.
    Form Number: None.
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Description: Federal credit unions wishing to advance money to 
members to cover account deficits without having a credit application 
on file must establish a written overdraft policy. Federally insured 
credit unions wishing

[[Page 53171]]

to pay lending-related incentives to employees must establish written 
policies.
    Respondents: Certain Federal and federally insured credit unions.
    Estimated No. of Respondents/Recordkeepers: 2,300.
    Estimated Burden Hours per Response: 3 hours for overdraft policy 
and 2 hours for lending-related employee incentive pay plan policies.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden Hours: 6,325 hours.
    Estimated Total Annual Cost: $158,125.

    By the National Credit Union Administration Board on August 22, 
2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013-20941 Filed 8-27-13; 8:45 am]
BILLING CODE 7535-01-P