[Federal Register Volume 85, Number 13 (Tuesday, January 21, 2020)]
[Notices]
[Pages 3430-3431]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-00871]


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NATIONAL CREDIT UNION ADMINISTRATION


Submission for OMB Review; Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice.

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SUMMARY: The National Credit Union Administration (NCUA) will submit 
the following information collection requests to the Office of 
Management and Budget (OMB) for review and clearance in accordance with 
the Paperwork Reduction Act of 1995, on or after the date of 
publication of this notice.

[[Page 3431]]


DATES: Comments should be received on or before February 20, 2020 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimates, or any other 
aspect of the information collections, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
NCUA, New Executive Office Building, Room 10235, Washington, DC 20503, 
or email at [email protected] and (2) NCUA PRA Clearance 
Officer, 1775 Duke Street, Suite 6032, Alexandria, VA 22314, or email 
at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by contacting Dawn Wolfgang at (703) 548-2279, emailing 
[email protected], or viewing the entire information collection 
request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0103.
    Type of Review: Extension of a currently approved collection.
    Title: Recordkeeping and Disclosure Requirements Associated with 
Regulations B, E, M, and CC.
    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.
    Affected Public: Private Sector: Not-for-profit institutions; 
Individuals or households.
    Estimated Total Annual Burden Hours: 3,239,916.

    OMB Number: 3133-0163.
    Type of Review: Extension of a currently approved collection.
    Title: Privacy of Consumer Financial Information, Regulation P, 12 
CFR part 1016.
    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 Total Annual Burden Hours: 426,248.

    OMB Number: 3133-0187.
    Type of Review: Extension of a currently approved collection.
    Title: Reverse Mortgage Products--Guidance for Managing Reputation 
Risks.
    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 Total Annual Burden Hours: 176.

    OMB Number: 3133-0204.
    Type of Review: Revision of a currently approved collection.
    Title: NCUA Profile.
    Form: NCUA Form 4501A.
    Abstract: Sections 106 and 202 of the Federal Credit Union Act 
require federally insured credit unions (FICU) to make financial 
reports to the NCUA. Section 741.6 prescribes the method in which 
federally insured credit unions must submit this information to NCUA. 
NCUA Form 4501A, Credit Union Profile, is used to obtain non-financial 
data relevant to regulation and supervision such as the names of senior 
management and volunteer officials, and are reported through NCUA's 
online portal, CUOnline.
    The financial and statistical information is essential to NCUA in 
carrying out its responsibility for supervising federal credit unions. 
The information also enables NCUA to monitor all federally insured 
credit unions with National Credit Union Share Insurance Fund (NCUSIF) 
insured share accounts.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 42,248.
    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on January 15, 2020.

    Dated: January 15, 2020.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2020-00871 Filed 1-17-20; 8:45 am]
 BILLING CODE 7535-01-P