[Federal Register Volume 85, Number 121 (Tuesday, June 23, 2020)]
[Notices]
[Pages 37694-37695]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-13400]


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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 extension of a currently approved collection, as required by 
the Paperwork Reduction Act of 1995.

DATES: Written comments should be received on or before July 23, 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: 3133-0135.
    Title: Authorization Agreement for Electronic Funds Transfer 
Payment.
    Form: NCUA 2005.
    Type of Review: Extension of a currently approved collection.
    Abstract: The NCUA is required under the Debt Collection 
Improvement Act of 1996 to issue payments to credit unions and all 
other entities electronically. The ``Authorization Agreement for 
Electronic Funds Transfer Payment'' form is used to maintain up-to-date 
and accurate electronic payment data for new and existing credit 
unions. NCUA will use the information to update its vendor (credit 
union) electronic routing and transit data database to enable 
transmittal of funds and payments. If this information is not 
collected, NCUA will not be able to make payment electronically through 
the Automated Clearing House (ACH) and will be in non-compliance with 
the Debt Collection Improvement Act of 1996.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 25.
    OMB Number: 3133-0166.
    Title: Home Mortgage Disclosure Act (HMDA), 12 CFR 1003 (Regulation 
C).
    Type of Review: Extension of a currently approved collection.
    Abstract: The collection of this data is required under the Home 
Mortgage Disclosure Act (HMDA) (12 U.S.C. 2801 et seq.), as codified 
under 12 CFR part 1003, Regulation C. The information collection is 
intended to provide the public with loan data that can be used to help 
determine whether financial institutions are serving the housing needs 
of their communities; to assist public officials in distributing 
public-sector investments so as to attract private investment to areas 
where it is needed, and to assist in identifying possible 
discriminatory lending patterns and enforcing anti-discrimination 
statutes.
    The information collection will assist NCUA's examiners, and 
examiners of other federal supervisory agencies, in determining that 
the financial institutions they supervise comply with the applicable 
provisions of HMDA.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 108,175.
    OMB Number: 3133-0151.
    Title: Leasing, 12 CFR part 714.

[[Page 37695]]

    Type of Review: Extension of a currently approved collection.
    Abstract: Section 714.5 of NCUA's Regulations requires a federal 
credit union engaged in leasing to obtain or have on file financial 
documentation demonstrating that the guarantor of an estimated residual 
value has the resources to meet the guarantee. Estimated residual value 
is the projected future value of leased property at lease end. The 
accuracy of the estimated residual values used in a lease program is a 
fundamental element in the success or failure of a lease program. The 
higher the estimated residual values used by a federal credit union, 
the greater the potential for loss. To mitigate this risk, the leasing 
rule requires that if the amount of the estimated residual value relied 
on by the federal credit union to satisfy the full payout lease 
requirement exceeds 25 percent of the original cost of the leased 
property, the credit union must obtain a guarantee of the excess from a 
financially capable party. If the guarantor cannot meet its guarantee, 
a federal credit union may suffer serious financial loss. Accordingly, 
it is important that a federal credit union documents that a guarantor 
has the financial resources and capability to meet the guarantee. If 
the guarantor is an insurance company, the federal credit union may 
satisfy this record keeping requirement by obtaining and maintaining 
information demonstrating that the insurance company has a rating 
equivalent to a B+ or better from a major rating company.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated No. of Respondents: 83.
    Estimated No. of Responses per Respondent: 5.
    Estimated Total Annual Responses: 415.
    Estimated Hours per Response: 2.
    Estimated Total Annual Burden Hours: 830.
    Reason for Change: Adjustment is attributed to current updated data 
since the last previous submission.
    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on June 17, 2020.

    Dated: June 17, 2020.
Mackie I. Malaka,
NCUA PRA Clearance Officer.
[FR Doc. 2020-13400 Filed 6-22-20; 8:45 am]
BILLING CODE 7535-01-P