[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