[Federal Register Volume 85, Number 246 (Tuesday, December 22, 2020)]
[Notices]
[Pages 83625-83626]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-28184]


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

NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request; Fair Credit Reporting Disclosure and Recordkeeping 
Requirements

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

DATES: Written comments should be received on or before February 22, 
2021 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. 703-548-2279; or email at [email protected]. Given 
the limited in-house staff because of the COVID-19 pandemic, email 
comments are preferred.

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: 3133-0165.
    Title: Fair Credit Reporting (FCRA).
    Type of Review: Extension of a currently approved collection.
    Abstract: The Fair Credit Reporting Act (FCRA) (15 U.S.C. 1681 et 
seq.) sets standards for the collection, communication, and use of 
information bearing on a consumer's creditworthiness, credit standing, 
credit capacity, character, general reputation, personal 
characteristics, or mode of living. FCRA has been revised numerous 
times since it took effect, notably by passage of the Consumer Credit 
Reporting Reform Act of 1996, the Gramm-Leach-Bliley Act of 1999, and 
the Fair and Accurate Credit Transactions Act of 2003.
    The Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) 
amended a number of consumer financial protection laws, including most 
provisions of FCRA. In addition to substantive amendments, the DFA 
transferred rulemaking authority for

[[Page 83626]]

most provisions of FCRA to the Consumer Financial Protection Bureau 
(CFPB). Pursuant to the DFA and FCRA, as amended, CFPB promulgated 
Regulation V, 12 CFR 1022, to implement those provisions of FCRA for 
which CFPB has rulemaking authority. Regulation V contains several 
requirements that impose information collection requirements on federal 
credit unions (FCUs).
    The DFA did not transfer certain rulemaking authority under FCRA. 
Specifically, the DFA did not transfer to CFPB the authority to 
promulgate the requirement to properly dispose of consumer information; 
rules on identity theft red flags and corresponding interagency 
guidelines on identity theft detection, prevention, and mitigation, and 
rules on the duties of card issuers regarding changes of address. These 
provisions are promulgated in NCUA's Fair Credit Reporting regulation, 
12 CFR 717, which applies to federal credit unions.
    The collection of information pursuant to Parts 1022 and 717 is 
triggered by specific events and disclosures and must be provided to 
consumers within the time periods established under the regulation.
    Affected Public: Private Sector: Not-for-profit institutions; 
Individuals or Households.
    Estimated Number of Respondents: FCU: 3,232; Consumer: 143,300.
    Estimated Frequency of Response: Upon occurrence of triggering 
action.
    Estimated Burden Hours per Response: FCU: 5.07; Consumer: 0.08.
    Estimated Total Annual Burden Hours: 272,686 (FCU: 248,827; 
Consumer: 23,859).
    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 Melane Conyers-Ausbrooks, Secretary of the Board, the National 
Credit Union Administration, on December 16, 2020.

    Dated: December 17, 2020.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2020-28184 Filed 12-21-20; 8:45 am]
BILLING CODE 7535-01-P