[Federal Register Volume 80, Number 14 (Thursday, January 22, 2015)]
[Notices]
[Page 3259]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-00973]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Submission for Office 
of Management and Budget Review; Comment Request; for New Collection 
Involuntary Liquidation Proof of Claim Form and Instructions

AGENCY: National Credit Union Administration (NCUA).

ACTION: Request for comment.

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SUMMARY: NCUA is announcing that a proposed collection of information 
has been submitted to the Office of Management and Budget (OMB) for 
review and clearance under the Paperwork Reduction Act of 1995 (PRA) 
(Pub. L. 104-13, 44 U.S.C. Chapter 35). The purpose of this notice is 
to allow for 30 days of public comment. NCUA is appointed the 
liquidating agent of a credit union when a credit union is placed into 
involuntary liquidation. NCUA is required to notify creditors of the 
liquidated credit union that they must submit claims, together with 
proof, to the liquidating agent. This is a one-time requirement to 
which creditors will respond by submitting the proposed Proof of Claim 
form.

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

ADDRESSES: Interested persons are invited to submit comments to: (i) 
Desk Officer for the National Credit Union Administration, 3133-NEW, 
U.S. Office of Management and Budget, 725 17th Street NW., #10102, 
Washington, DC 20503, or by email to: [email protected]; and 
(ii) Jessica Khouri by mail at the National Credit Union 
Administration, 1775 Duke Street, Alexandria, VA 22314-3428, by fax at 
Fax No. 703-837-2861, or by email to: [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 by mail at the National 
Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-
3428, by fax at Fax No. 703-837-2861, or by email at [email protected].

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    Section 709.4(b) of NCUA's Rules and Regulations (12 CFR 709) 
requires the liquidating agent of a credit union placed into 
involuntary liquidation to publish a notice to creditors instructing 
creditors to present their claims to the liquidating agent by a 
specified date. Section 709.6 requires that any party wishing to submit 
a claim against the liquidated credit union must submit a written proof 
of claim. In addition, the liquidating agent may require claimants to 
submit supplemental evidence. The new collection of information 
requirement is that those creditors making a claim must document their 
claim and submit it to the liquidating agent by using the proposed 
Proof of Claim form. The liquidating agent notifies creditors of the 
need to submit a claim by means of a published notice or letters sent 
directly to creditors. Generally, one entity would have one claim 
against a credit union placed in liquidation. The liquidating agent 
would use the completed Proof of Claim form to determine a claim has 
been made against a liquidated credit union and evaluate the claim for 
payment. On occasion, the liquidating agent may require supplemental 
evidence from the claimant. NCUA estimates the liquidating agent will 
request ten percent (10%) of the claimants to furnish additional 
evidence to support the claim.
    In the Federal Register of June 17, 2014 (79 FR34555), NCUA 
published a 60-day notice requesting public comment on the proposed 
collection of information. NCUA received no comments.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid OMB control number.
    NCUA requests that you send your comments on this collection to the 
locations 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: Involuntary Liquidation Proof of Claim Form and 
Instructions.
    OMB Number: 3133-NEW.
    Form Number: None.
    Type of Review: New Collection.
    Description: Section 709.4(b) of the NCUA Rules and Regulations (12 
CFR 709) requires the liquidating agent to publish notice to creditors, 
instructing creditors to present their claims to the liquidating agent 
by a specified date. Section 709.6 requires that creditors wishing to 
submit a claim against the liquidated credit union must submit a 
written proof of claim. Creditors would use the proposed Proof of Claim 
form to submit their claims. On occasion, the liquidating agent may 
require supplemental evidence from the claimant to support the claim.
    Respondents: Creditors making a claim against a liquidated credit 
union.
    Estimated No. of Respondents/Recordkeepers: 220.
    Frequency of Response: On occasion.
    Estimated Burden Hours per Response: 1 hour.
    Estimated Total Annual Burden Hours: 220 hours.
    Estimated Total Annual Cost: $11,000.

    By the National Credit Union Administration Board on January 14, 
2015.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2015-00973 Filed 1-21-15; 8:45 am]
BILLING CODE 7535-01-P