[Federal Register Volume 87, Number 239 (Wednesday, December 14, 2022)]
[Notices]
[Pages 76541-76542]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-27142]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Annual Certification and Data Collection 
Report Form and the Abbreviated Transaction Level Report

AGENCY: Departmental Offices, Department of the Treasury.

ACTION: Notice of information collection; request for comment.

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SUMMARY: The Department of the Treasury will submit the following 
information requests to the Office of Management and Budget (OMB) for 
review and clearance in accordance with the Paperwork Reduction Act of 
1995, on or after the date of publication of this notice. The public is 
invited to submit comments on these requests.

DATES: Comments should be received on or before January 13, 2023 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 submissions may be 
obtained from Melody Braswell by emailing [email protected], calling 
(202) 622-1035, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

CDFI Fund

    Title: Annual Certification and Data Collection Report Form and the 
abbreviated Transaction Level Report.
    OMB Control Number: 1559-0046.
    Type of Review: Revision of a currently approved collection.
    Description: A Certified Community Development Financial 
Institution (CDFI) is a specialized financial institution that works in 
markets that are underserved by traditional financial institutions and 
provide a range of Financial Products and Financial Services in 
economically distressed Target Markets. CDFIs include regulated 
institutions such as community development banks and credit unions, and 
non-regulated institutions such as loan and venture capital funds. CDFI 
Certification is a designation conferred by the Community Development 
Financial Institutions Fund (CDFI Fund) and is a requirement for 
accessing various CDFI Fund programs. A financial institution seeking 
to become a Certified CDFI and qualify to apply for assistance from the 
CDFI Fund must complete the CDFI Certification Application (OMB Control 
Number 1559-0028). CDFI Certification and the Annual Certification and 
Data Collection Report (ACR) are requirements of Certified CDFIs. The 
Transaction Level Report (TLR) is a requirement of CDFIs that receive 
Financial Assistance (FA) awards from the CDFI Fund.
    The CDFI Fund is authorized by the Riegle Community Development 
Banking and Financial Institutions Act of 1994 (Pub. L. 103-325, 12 
U.S.C. 4701 et seq.) (the Act). The regulations governing CDFI 
Certification are found at 12 CFR. 1805.201 (the Regulations). The 
significance of CDFI Certification has increased over the years, as the 
CDFI Certification status has come to serve as a qualifier for other 
federal government and private sector resources and benefits. Beginning 
in January 2017, through the issuance of a Request for Information, the 
CDFI Fund sought to review and update the CDFI Certification policies 
and procedures to ensure they continue to meet the statutory and 
regulatory requirements,

[[Page 76542]]

are responsive to the evolving nature of the CDFI industry, and protect 
government resources. In May 2020, the CDFI Fund requested public 
comment on proposed revisions to the CDFI Certification Application 
(Application) and reporting requirements for Certified CDFIs, including 
the introduction of the Certification Transaction Level Report (CTLR). 
As a result of comments received during that public comment period, the 
CDFI Fund made additional revisions to the existing ACR, the new CTLR 
and proposed Certification Application.
    The revised ACR, new CTLR, certification policies, and Application 
attempt both to provide the flexibility necessary for CDFIs to grow and 
to serve the hardest to reach distressed communities, and to maintain 
the integrity of what it means to be a Certified CDFI from a mission 
perspective. In addition, where existing policy was considered 
appropriate, changes were made to the Application and guidance to 
provide greater transparency and clarity around the criteria that 
entities must meet to obtain and maintain CDFI Certification.
    Form: Annual Certification and Data Collection Report.
    Affected Public: Certified CDFIs.
    Estimated Number of ACR Respondents: 1,460.
    Estimated Annual Time per ACR Respondent: 14 hours.
    Estimated Total ACR Annual Burden Hours: 20,440 hours.
    Form: abbreviated Transaction Level Report.
    Affected Public: Non-Financial Assistance Certified CDFIs seeking 
Recertification (597) and new Certification Applicants (150).
    Estimated Number of abbreviated TLR Respondents: 747.
    Estimated Annual Time per abbreviated TLR Respondent: 10 hours.
    Estimated Total abbreviated TLR Annual Burden Hours: 7,470 hours.

    Authority: 44 U.S.C. 3501 et seq.

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2022-27142 Filed 12-13-22; 8:45 am]
BILLING CODE 4810-70-P