[Federal Register Volume 78, Number 172 (Thursday, September 5, 2013)]
[Notices]
[Pages 54681-54682]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-21492]


=======================================================================
-----------------------------------------------------------------------

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.

-----------------------------------------------------------------------

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 (Pub. L. 104-13, 44 
U.S.C. Chapter 35). This information collection is published to obtain 
comments from the public. Section 721.1(h) of the NCUA Rules and 
Regulations regulates purchases by federally insured credit unions of 
indirect vehicle loans serviced by third-parties. Section 721.1(h) 
limits the aggregate amount of these loans serviced by any single 
third-party to a percentage of the credit union's net worth. This rule 
ensures that federally insured credit unions do not undertake undue 
risk with these purchases. This data collection enables NCUA to 
evaluate waiver requests of these limits.

DATES:  Comments must be received on or before October 7, 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,

[[Page 54682]]

Alexandria, VA 22314-3428, or at (703) 518-6444.

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    NCUA is reinstating, with change, the collection for 3133-0171. 
NCUA Rules and Regulations Sec.  701.21(h) establishes limits at 
federally-insured credit unions on the purchase of interests in 
indirect vehicle loans serviced by any particular third-party servicer. 
These indirect, outsourced programs create numerous risks to the credit 
union, and the rule ensures that these risks will not lead to 
significant negative impacts on the credit union's net worth and losses 
to the National Credit Union Share Insurance Fund. The rule allows a 
credit union to apply for a waiver of the limits, but to obtain a 
waiver the credit union must demonstrate to the NCUA that it 
understands the risks and has taken appropriate measures to monitor and 
protect itself against the risks. Because the waiver requests consist 
primarily of qualitative data, the NCUA call report system cannot be 
used for this collection.
    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: Third Party Servicing of Indirect Vehicle Loans, 12 CFR 
Sec.  701.21(h).
    OMB Number: 3133-0171.
    Form Number: None.
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Description: The rule limits the aggregate amount of indirect 
vehicle loans that federally insured credit unions loans may have 
serviced by any single third-party to a percentage of the credit 
union's net worth. Credit unions may apply for a waiver to this rule, 
which is the purpose of this data collection.
    Respondents: Federally insured credit unions.
    Estimated No. of Respondents/Recordkeepers: 15.
    Estimated Burden Hours per Response: 50 hours.
    Frequency of Response: Upon waiver request.
    Estimated Total Annual Burden Hours: 750 hours.
    Estimated Total Annual Cost: 750 hours x $31.56/hr, or $23,670.

    By the National Credit Union Administration Board on August 29, 
2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013-21492 Filed 9-4-13; 8:45 am]
BILLING CODE 7535-01-P