[Federal Register Volume 88, Number 59 (Tuesday, March 28, 2023)]
[Notices]
[Pages 18352-18353]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-06383]


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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) will submit 
the following information collection 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.

DATES: Comments should be received on or before April 27, 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 submission may be 
obtained by contacting Venetia Eldridge at (703) 518-1564, emailing 
[email protected], or viewing the entire information collection 
request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0024.
    Title: Mergers of Federally-Insured Credit Unions; Voluntary 
Termination or Conversion of Insured Status, 12 CFR part 708b.
    Type of Review: Extension of a currently approved collection.
    Abstract: Part 708b of NCUA's rules sets forth the procedural and 
disclosure requirements for mergers of federally-insured credit unions, 
conversions from federal share insurance to nonfederal insurance, and 
federal share insurance terminations. Part 708b is designed to ensure 
NCUA has sufficient information whether to approve a proposed merger, 
share insurance conversion, or share insurance termination. It further 
ensures that members of credit unions have sufficient and accurate 
information to exercise their vote properly concerning a proposed 
merger, insurance conversion, or insurance termination. The rule also 
protects the property interests of members who may lose their federal 
share insurance due to a merger, share insurance conversion, or share 
insurance termination.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 5,352.
    OMB Number: 3133-0163.
    Title: Privacy of Consumer Financial Information Recordkeeping and 
Disclosure Requirements. Under the Gramm-Leach-Bliley Act and 
Regulation P, 12 CFR 1016.
    Type of Review: Extension of a currently approved collection.
    Abstract: Regulation P (12 CFR 1016) requires credit unions to 
disclose its privacy policies to customers as well as offer customers a 
reasonable opportunity to opt out--in whole or in part--of those 
policies to further restrict the release of their personal financial 
information to nonaffiliated third parties. Credit unions are required 
to provide an initial privacy notice to customers that is clear and 
conspicuous, an annual notice of the privacy policies and practices of 
the institution, a revised notice to customers if triggered by specific 
changes to the existing policy, and a notice of the right of the 
customer to opt out of the institution's information sharing practices. 
Consumers who choose to exercise their opt-out right document this 
choice by returning an opt-out form or other permissible method.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 433,620.
    OMB Number: 3133-0181.
    Type of Review: Extension of currently approved collection.
    Title: Registration of Mortgage Loan Originators.
    Abstract: The Secure and Fair Enforcement for Mortgage Licensing 
Act (S.A.F.E. Act), 12 U.S.C. 5101 et seq., as codified by 12 CFR part 
1007, requires an employee of a bank, savings association, or credit 
union or a subsidiary regulated by a Federal banking agency or an 
employee of an institution regulated by the Farm Credit Administration 
(FCA), (collectively, Agency-regulated Institutions) who engages in the 
business of a residential mortgage loan originator (MLO) to register 
with the Nationwide Mortgage Licensing System and Registry (Registry) 
and obtain a unique identifier. Agency-regulated institutions must also 
adopt and follow written policies and procedures to assure compliance 
with the S.A.F.E. Act. The Registry is intended to aggregate and 
improve the flow of information to and between regulators; provide 
increased accountability and tracking of mortgage loan originators; 
enhance consumer protections; reduce fraud in the residential mortgage 
loan origination process; and provide consumers with easily accessible 
information at no charge regarding the employment history of, and the 
publicly adjudicated disciplinary and enforcement actions against MLOs.
    Affected Public: Private Sector: Not-for-profit institutions; 
Individuals or households.
    Estimated Total Annual Burden Hours: 86,423.
    OMB Number: 3133-0187.
    Type of Review: Extension currently approved collection.
    Title: Reverse Mortgage Products--Guidance for Managing Reputation 
Risks, 12 CFR 1002, 1005, 1013, and 229.
    Abstract: The Reverse Mortgage Guidance sets forth standards 
intended to ensure that financial institutions effectively assess and 
manage the compliance and reputation risks associated with reverse 
mortgage products. The information collection will allow NCUA to 
evaluate the adequacy of a federally-insured credit union's internal 
policies and procedures as they relate to reverse mortgage products.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 160.
    By Melane Conyers-Ausbrooks, Secretary of the Board, the National

[[Page 18353]]

Credit Union Administration, on March 20, 2023.

    Dated: March 23, 2023.
Nina DiPadova,
NCUA PRA Clearance Officer.
[FR Doc. 2023-06383 Filed 3-27-23; 8:45 am]
BILLING CODE 7535-01-P