[Federal Register Volume 87, Number 167 (Tuesday, August 30, 2022)]
[Notices]
[Page 53022]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-18629]



[[Page 53022]]

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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collections, 
Bank Conversions and Mergers

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

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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 October 31, 
2022 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; 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: 3133-0182.
    Title: Bank Conversions and Mergers, 12 CFR part 708a.
    Type of Review: Extension of a currently approved collection.
    Abstract: Part 708a of NCUA's Rules and Regulations covers the 
conversion of federally insured credit unions (credit unions) to mutual 
savings banks (MSBs) and mergers of credit unions into both mutual and 
stock banks (banks). Part 708a requires credit unions that intend to 
convert to MSBs or merge into banks to provide notice and disclosure of 
their intent to convert or merge to their members and NCUA, and to 
conduct a membership vote. In addition, Subpart C requires credit 
unions that intend to merge into banks to determine the merger value of 
the credit union. The information collection allows NCUA to ensure 
compliance with statutory and regulatory requirements for conversions 
and mergers and ensures that members of credit unions have sufficient 
and accurate information to exercise an informed vote concerning a 
proposed conversion or merger.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated No. of Respondents: 1.
    Estimated No. of Responses per Respondent: 13.
    Estimated Total Annual Responses: 13.
    Estimated Burden Hours per Response: 30.
    Estimated Total Annual Burden Hours: 391.
    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 August 24, 2022.

    Dated: August 25, 2022.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2022-18629 Filed 8-29-22; 8:45 am]
BILLING CODE 7535-01-P