[Federal Register Volume 79, Number 131 (Wednesday, July 9, 2014)]
[Notices]
[Pages 39064-39065]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-15983]


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DEPARTMENT OF THE TREASURY


Community Development Financial Institutions Fund; Proposed Data 
Collection; Comment Request

ACTION: Notice and request for comments.

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SUMMARY: The U.S. Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the Community Development Financial 
Institutions Fund (CDFI Fund), Department of the Treasury, is 
soliciting comments concerning the Annual Certification and Data 
Collection Report Form. This reporting form will enable the CDFI Fund 
to recertify Community Development Financial Institutions (CDFIs) on an 
annual basis and reduce the burden of the re-certification process that 
currently occurs every three years. In addition to recertifying CDFIs, 
this report also seeks to collect financial and impact data on an 
annual basis to provide the CDFI Fund and the industry with more 
insight into the state and accomplishments of CDFIs. The process for 
data collection and reporting is expected to take place via electronic 
submission to the CDFI Fund pending the implementation of an electronic 
submission process. The Annual Certification and Data Collection Report 
Form may be obtained from the CDFI Certification page of the CDFI 
Fund's Web site at http://www.cdfifund.gov/cdficert. The term CDFI is 
defined in regulations that govern the CDFI Program (at 12 CFR 1805).

DATES: Written comments should be received on or before September 8, 
2014 to be assured of consideration. These comments will be considered 
before the CDFI Fund submits a request for Office of Management and 
Budget (OMB) review of the data reporting form described in this 
notice.

ADDRESSES: Direct all comments to Brette Fishman, Management Analyst at 
the Community Development Financial Institutions Fund, U.S. Department 
of the Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20020, by 
email to [email protected], or by facsimile to (202) 508-
0083. Please note this is not a toll free number.

FOR FURTHER INFORMATION CONTACT: The Annual Certification and Data 
Collection Report Form may be obtained from the CDFI Certification page 
of the CDFI Fund's Web site at http://www.cdfifund.gov/cdficert. 
Requests for additional information should be directed to Brette 
Fishman, Management Analyst, at the Community Development Financial 
Institutions Fund, U.S. Department of the Treasury, 1500 Pennsylvania 
Avenue NW., Washington, DC 20020, by email to 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: CDFI Annual Certification and Data Collection Report Form.
    OMB Number: 1559-0044.
    Abstract: A certified CDFI is a specialized financial institution 
that works in markets that are underserved by traditional financial 
institutions. CDFIs provide a unique range of financial products and 
services in economically distressed target markets, such as mortgage 
financing for low-income and first-time homebuyers and not-for-profit 
developers, flexible underwriting and risk capital for needed community 
facilities, and technical assistance, commercial loans and investments 
to small start-up or expanding businesses in low-income areas. CDFIs 
include regulated institutions such as community development banks and 
credit unions, and non-regulated institutions such as loan and venture 
capital funds. CDFI certification is a designation conferred by the 
CDFI Fund and is a requirement for: accessing financial assistance from 
the CDFI Fund through the CDFI Program, the Native American CDFI 
Assistance Program, and the Capital Magnet Fund; receiving certain 
benefits under the Bank Enterprise Award Program; and participation as 
an Eligible CDFI under the CDFI Bond Guarantee Program. Currently, 
CDFIs are currently recertified every three years. The CDFI Annual 
Certification and Data Collection Report Form would replace the 
extensive process conducted every three years with an annual report. 
This report will also collect financial and impact data from all CDFIs 
regardless of whether or not they have received monetary awards in 
their last fiscal year. This report is a preliminary method to collect 
standardized data on the full universe of certified CDFIs.
    Current Actions: New collection.
    Type of Review: Regular review.
    Affected Public: Certified CDFIs.
    Estimated Number Certified CDFI Respondents: 800.
    Estimated Annual Time Per Certified CDFI Respondent: 3 hours.
    Estimated Total Annual Burden Hours: 2,400 hours.
    Requests for Comments: Comments submitted in response to this 
notice will

[[Page 39065]]

be summarized and/or included in the request for Office of Management 
and Budget approval. All comments will become a matter of public record 
and may be published on the CDFI Fund Web site at http://www.cdfifund.gov. Comments are invited on: (a) Whether the collection 
of information is consistent with the stated background and proposed 
use necessary for the proper performance of the functions of the CDFI 
Fund; (b) the accuracy of the CDFI Fund's estimate of the burden of the 
collection of information; (c) ways to enhance the quality, utility, 
and clarity of the information to be collected; (d) ways to minimize 
the burden of the collection of information on respondents, including 
through the use of technology; and (e) estimates of operational or 
maintenance costs to provide information.

    Authority:  Pub. L. 104-13; 12 CFR 1805; 12 CFR 1806; 12 CFR 
1807; 12 CFR 1808.

    Dated: July 1, 2014.
Bob Ibanez,
Acting Deputy Director, Community Development Financial Institutions 
Fund.
[FR Doc. 2014-15983 Filed 7-8-14; 8:45 am]
BILLING CODE 4810-70-P