[Federal Register Volume 84, Number 220 (Thursday, November 14, 2019)]
[Notices]
[Pages 61941-61942]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-24723]


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

NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

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

SUMMARY: The National Credit Union Administration (NCUA), as part of a 
continuing effort to reduce paperwork and respondent burden, invites 
the general public and other Federal agencies to comment on the 
following extensions of a currently approved collection, as required by 
the Paperwork Reduction Act of 1995.

DATES: Written comments should be received on or before January 13, 
2020 to be assured consideration.

ADDRESSES: Interested persons are invited to submit written comments on 
the information collection to Dawn Wolfgang, National Credit Union 
Administration, 1775 Duke Street, Suite 6032, Alexandria, Virginia 
22314; Fax No. 703-519-8579; or Email at [email protected].

FOR FURTHER INFORMATION CONTACT: Address requests for additional 
information to Dawn Wolfgang at the address above or telephone 703-548-
2279.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0103.
    Title: Recordkeeping and Disclosure Requirements Associated with 
Regulations B, E, M, and CC.
    Type of Review: Extension of a currently approved collection.
    Abstract: This information collection request provides for the 
application of three CFPB rules and one FRB rule. NCUA has enforcement 
responsibility for these rules for federal credit unions. These rules 
are: Regulation B (``Equal Credit Opportunity Act,'' 12 CFR part 1002); 
Regulation E (``Electronic Fund Transfers,'' 12 CFR part 1005); 
Regulation M (``Consumer Leasing,'' 12 CFR part 1013); and Regulation 
CC (``Availability of Funds and Collection of Checks,'' 12 CFR part 
229).
    The third party disclosure and recordkeeping requirements in this 
collection are required by statute and regulation. The regulations 
prescribe certain aspects of the credit application and notification 
process, making certain disclosures, uniform methods for computing the 
costs of credit, disclosing credit terms and cost, resolving errors on 
certain types of credit accounts, and timing requirements and 
disclosures relating to the availability of deposited funds.

[[Page 61942]]

    Affected Public: Private Sector: Not-for-profit institutions; 
Individuals or households.
    Estimated No. of Respondents: Reg. B, 3,330 FCU; Reg. E, 2,661 FCU 
and 24,700,000 credit union members; Reg. M, 48 FCU, and Reg. CC, 4,396 
FICU.
    Estimated No. of Responses per Respondent: Annual for most credit 
unions. Once for credit union members choosing to opt-in.
    Estimated Total Annual Responses: 56,105,209.
    Estimated Burden Hours per Response: Estimated burden hours per 
response range from 0.01 to 20 depending upon the information 
collection activity.
    Estimated Total Annual Burden Hours: 3,239,916.
    OMB Number: 3133-0163.
    Title: Privacy of Consumer Financial Information, Regulation P, 12 
CFR part 1016.
    Type of Review: Extension of a currently approved collection.
    Abstract: Regulation P (12 CFR part 1016) requires credit unions to 
disclose its privacy policies to customers as well as offer customers a 
reasonable opportunity to opt out-in whole or in part-of those policies 
to further restrict the release of their personal financial information 
to nonaffiliated third parties. Credit unions are required to provide 
an initial privacy notice to customers that is clear and conspicuous, 
an annual notice of the privacy policies and practices of the 
institution, a revised notice to customers if triggered by specific 
changes to the existing policy, and a notice of the right of the 
customer to opt out of the institution's information sharing practices. 
Consumers who choose to exercise their opt-out right document this 
choice by returning an opt-out form or other permissible method.
    Affected Public: Private Sector: Not-for-profit institutions; 
Individuals or households.
    Estimated No. of Respondents: 2,654 FICU; 1,360,000 members who 
opt-out.
    Estimated No. of Responses per Respondent: Annual for most FICUs. 
Once for credit union members choosing to opt-out.
    Estimated Total Annual Responses: 1,365,319.
    Estimated Burden Hours per Response: FICUs, 8.11; Consumers, 0.28.
    Estimated Total Annual Burden Hours: 426,248.
    OMB Number: 3133-0187.
    Title: Reverse Mortgage Products--Guidance for Managing Reputation 
Risks.
    Type of Review: Extension of a currently approved collection.
    Abstract: The Reverse Mortgage Guidance sets forth standards 
intended to ensure that financial institutions effectively assess and 
manage the compliance and reputation risks associated with reverse 
mortgage products. The information collection will allow NCUA to 
evaluate the adequacy of a federally-insured credit union's internal 
policies and procedures as they relate to reverse mortgage products.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated No. of Respondents: 17.
    Estimated No. of Responses per Respondent: 1.05.
    Estimated Total Annual Responses: 18.
    Estimated Burden Hours per Response: 9.78.
    Estimated Total Annual Burden Hours: 176.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and included in the request for Office of Management 
and Budget approval. All comments will become a matter of public 
record. The public is invited to submit comments concerning: (a) 
Whether the collection of information is necessary for the proper 
execution of the function of the agency, including whether the 
information will have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information, 
including the validity of the methodology and assumptions used; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the collection of 
the information on the respondents, including the use of automated 
collection techniques or other forms of information technology.

    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on November 7, 2019.

    Dated: November 8, 2019.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2019-24723 Filed 11-13-19; 8:45 am]
 BILLING CODE 7535-01-P