[Federal Register Volume 80, Number 14 (Thursday, January 22, 2015)]
[Notices]
[Pages 3255-3256]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-00949]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Extension of a 
Previously Approved Collection; for Change of Senior Executives and 
Officials forms; Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Request for comment.

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SUMMARY: 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 notice is published to obtain 
comments from the public. NCUA is requesting an

[[Page 3256]]

extension of a previously approved collection 3133-0121. The Federal 
Credit Union Act, 12 U.S.C. 1790a, specifically requires all federally 
insured credit unions to notify NCUA at least 30 days prior to a change 
in official or senior executive officer if that credit union is newly 
chartered or in troubled condition.

DATES: Comments will be accepted until March 23, 2015.

ADDRESSES: Interested persons are invited to submit written comments on 
the information collection to Jessica Khouri, National Credit Union 
Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428, Fax 
No. 703-837-2861, or by Email at [email protected]

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 Jessica Khouri at the National Credit 
Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428, or 
by Email at [email protected].

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    NCUA is requesting an extension of the previously approved 
collection for 3133-0121. The Federal Credit Union (FCU) Act 
specifically requires all federally insured credit unions to notify 
NCUA at least 30 days prior to a change in official or senior executive 
officer if that credit union is newly chartered or in troubled 
condition. During that 30-day period, NCUA can disapprove the credit 
union's request. Since the last submission for 3133-0121, NCUA amended 
12 CFR 701.14 to redefine ``troubled condition'' in relation to 
federally insured state chartered credit unions (FISCUs). The revised 
rule redefines a FISCU in ``troubled condition'' to be not only when 
its state supervisory authority (SSA) assigns it a ``4'' or ``5'' 
composite code rating, but also when either its SSA or NCUA assigns 
such a rating. Prior definitions of troubled credit unions did not 
include FISCUs rated a code 4 or 5 only by NCUA.
    The FCU Act requires notice from the insured credit union to 
include certain personal information about the individual to determine 
the individual's fitness for the position. NCUA regulation at 12 CFR 
701.14 implements Section 212. Section 701.14 requires that within 10 
calendar days of receiving the notice, the Regional Director must 
inform the credit union either that the notice is complete or that 
additional specified information is required to be submitted within 30 
calendar days. Additionally, this section requires the Regional 
Director or Director of Office of National Examinations and Supervision 
to issue a written decision of approval or disapproval to the 
individual and the credit union within 30 calendar days of receipt of 
the notice. Otherwise, the individual is approved. NCUA's regulation at 
12 CFR 741.205 requires federally insured state-chartered credit unions 
to follow section 701.14.
    NCUA's regulations at 12 CFR part 747 (Subpart J) sets forth the 
rights an individual or a credit union may exercise and procedures to 
be followed in responding to a notice of disapproval by NCUA.
    NCUA's forms 4063 and 4063a provide a uniform method for credit 
unions and individuals to submit information to NCUA regarding changes 
to officials and senior executive officers. NCUA uses the information 
to determine an individual's fitness for the position.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    NCUA requests 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: Change of Officials or Senior Executive Officer Forms
    OMB Number: 3133-0121.
    Form Number: NCUA Form 4063 and NCUA Form 4063a
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Description: To comply with statutory requirements, the agency must 
obtain sufficient information from new officials or senior executive 
officers of newly chartered or troubled credit unions to determine the 
individual's fitness for the position. This is established by the 
Financial Institutions Reform, Recovery, and Enforcement Act of 1989. 
These forms standardize the information gathered to evaluate the 
individual's fitness for the position.
    Respondents: Credit unions defined as newly chartered or in 
troubled condition and individuals applying for senior executive or 
official positions within a credit union defined as newly chartered or 
in troubled condition.
    Estimated No. of Respondents/Record keepers: 1,017.
    Estimated Burden Hours per Response: 1-2 hours.
    Frequency of Response: Occasionally.
    Estimated Total Annual Burden Hours: 1,907 hours.
    Estimated Total Annual Cost: $40,692.

    By the National Credit Union Administration Board on January 14, 
2015.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2015-00949 Filed 1-21-15; 8:45 am]
BILLING CODE 7535-01-P