[Federal Register Volume 85, Number 82 (Tuesday, April 28, 2020)]
[Notices]
[Pages 23536-23537]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-08943]


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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), 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 currently approved collections, as required by 
the Paperwork Reduction Act of 1995.

DATES: Written comments should be received on or before May 28, 2020 to 
be assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by contacting Mackie Malaka at (703) 548-2704, emailing 
[email protected], or viewing the entire information collection 
request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0092.
    Title: Loans to Members and Lines of Credit to Members, 12 CFR 
701.21 and Appendix B to 741.
    Type of Review: Extension of a currently approved collection.
    Abstract: Section 107(5) of the Federal Credit Union Act authorizes 
Federal Credit Unions (FCU) to make loans to members and issue lines of 
credit (including credit cards) to members. Section 701.21 governs the 
requirements related to loans to members and lines of credit to members 
for FCUs. Additionally, Part 741 established requirements for all 
federally insured credit unions (both Federal and state charters) 
related to loans to members and lines of credit union members. NCUA 
reviews the information collections to ensure compliance with 
applicable regulations and laws, and to assess the safety and soundness 
of the credit union's lending program.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 21,534.

    OMB Number: 3133-0101.
    Title: Member Business Loans; Commercial Lending, 12 CFR 723.
    Type of Review: Extension of a currently approved collection.
    Abstract: As part of NCUA's Regulatory Modernization Initiative, 
the NCUA Board amended Part 723 to provide federally insured credit 
unions with greater flexibility and individual autonomy in safely and 
soundly providing commercial and business loans to serve their members. 
The rule modernizes the regulatory requirements that govern credit 
union commercial lending activities by replacing the current rule's 
prescriptive requirement and limitations with a broad principles-based 
regulatory approach.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 3,656.

    OMB Number: 3133-0140.
    Title: Secondary Capital for Low-Income Designated Credit Unions, 
12 CFR 701.34(b).
    Type of Review: Extension of a currently approved collection.
    Abstract: Section 701.34 (b) of NCUA's regulations provide that 
designated low-income credit unions (LICU) may accept secondary capital 
under certain conditions. For those LICUs wishing to exercise their 
option to access secondary capital, NCUA requires that credit unions 
accepting secondary capital must develop and submit a plan for its 
acquisition, use, and repayment. The information is used by NCUA to 
determine if the secondary capital will be managed by the credit union 
without risk to its financial condition, the U.S. government, or the 
National Credit Union Share Insurance Fund. This collection of 
information is necessary to obtain the information needed to ensure 
compliance with requirements related to acceptance and management of 
secondary capital.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 1,020.
    Reason for change: An adjustment has been made due to a decrease in 
the number of credit unions requesting redemption of secondary capital. 
A total of 80 burden hours has been removed as result of the 
adjustment. A total of 1,020 burden hours is being requested.

    OMB Number: 3133-0152.
    Title: Management Official Interlocks, 12 CFR 711.
    Type of Review: Extension of a currently approved collection.
    Abstract: NCUA requires this information collection to ensure 
federally insured credit unions comply with NCUA's Management Official 
Interlocks regulation at 12 CFR part 711, implementing the Depository 
Institution Management Interlocks Act (``Interlocks Act'') (12 U.S.C. 
3201-3208). The Interlocks Act generally prohibits financial 
institutions management officials from serving simultaneously with two 
unaffiliated depository institutions or their holding companies. For 
credit unions, the Interlocks Act restricts interlocks only between 
credit unions and other financial institutions, such as banks and their 
holding companies. The information collection requirements of this part 
covers interlock relationships permitted by statute.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 6.

    OMB Number: 3133-0196.
    Title: Contractor's Diversity Profile.
    Type of Review: Extension of a currently approved collection.
    Abstract: On January 2011, NCUA created the Office of Minority and 
Women Inclusion (OMWI), as mandated by sec. 342 of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act (``Act'') (Pub. L. 111-203). 
As prescribed by sec. 342(c) of the Act, OMWIs shall develop and 
implement standards and procedures to ensure the fair inclusions and 
utilization of minorities, women, and minority-owned and women-owned 
business in all business and activities of the agency at all levels, 
including in procurement, insurance, and all types of contracts. As a 
result, NCUA developed the Contractor Profile form to be completed by a 
contractor to ensure the fair inclusion and utilization of minorities 
and women in the workforce of the contractor and, as applicable, 
subcontractor. The Contractor Profile form includes a series of 
questions covering a contractor's, and, as applicable, a 
subcontractor's diversity strategies, policies, recruitment, succession 
planning, and outreach. The information provided is used by NCUA to 
determine if good faith efforts are met and to fulfill statutory 
requirements of the Act. Determinations are valid for a two-year 
period.

[[Page 23537]]

    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 30.

    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on April 22, 2020.

    Dated: April 22, 2020.
Mackie I. Malaka,
NCUA PRA Clearance Officer.
[FR Doc. 2020-08943 Filed 4-27-20; 8:45 am]
 BILLING CODE 7535-01-P