[Federal Register Volume 88, Number 109 (Wednesday, June 7, 2023)]
[Notices]
[Page 37290]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-12116]


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NATIONAL CREDIT UNION ADMINISTRATION


Renewal of Agency Information Collections for Comments Request: 
Proposed Collections

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comments.

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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: Written comments should be received on or before August 7, 2023 
to be assured consideration.

ADDRESSES: Interested persons are invited to submit written comments on 
the information collection to Mahala Vixamar, National Credit Union 
Administration, 1775 Duke Street, Alexandria, Virginia 22314, Suite 
5067; Fax No. 703-519-8579; or Email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by contacting Mahala Vixamar at (703) 518-6540, emailing 
[email protected], or viewing the entire information collection 
request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0134.
    Title: Account Based Disclosures in Connection with 12 CFR part 707 
(Truth in Savings).
    Type of Review: Extension of a previously approved collection.
    Abstract: NCUA's TISA regulation requires credit unions to provide 
specific disclosures when an account is opened, when a disclosed term 
changes or a term account is close to renewal, on periodic statements 
of account activity, in advertisements, and upon a member's or 
potential member's request. Credit unions that provide periodic 
statements are required to include information about fees imposed, the 
annual percentage yield earned during those statement periods, and 
other account terms. The requirements for creating and disseminating 
account disclosures, change in terms notices, term share renewal 
notices, statement disclosures, and advertising disclosures are 
necessary to implement TISA's purpose of providing the public with 
information that will permit informed comparisons of accounts at 
depository institutions.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 373,870.
    OMB Number: 3133-0154.
    Type of Review: Extension of a previously approved collection.
    Title: Prompt Corrective Action, 12 CFR 702 (Subparts A-D).
    Abstract: Section 216 of the Federal Credit Union Act mandates 
prompt corrective action (PCA) requirements for federally insured 
credit unions (FICUs) that become less than well capitalized. Section 
216 requires the NCUA Board to (1) adopt, by regulation, a system of 
prompt corrective action to restore the net worth of inadequately 
capitalized FICUs and (2) develop an alternative system of prompt 
corrective action for new credit unions that carries out the purpose of 
PCA while allowing an FICU reasonable time to build its net worth to an 
adequately capitalized level. The purpose of PCA is to resolve the 
problems of FICUs at the least possible long-term loss to the National 
Credit Union Share Insurance Fund (NCUSIF).
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 569.
    OMB Number: 3133-0166.
    Type of Review: Extension of a previously approved collection.
    Title: Home Mortgage Disclosure Act (HMDA), 12 CFR 1003 (Regulation 
C).
    Abstract: The collection of this data is required under the Home 
Mortgage Disclosure Act. 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.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 108,175.
    OMB Number: 3133-0167.
    Type of Review: Extension of a previously approved collection.
    Title: Foreign Branching, 12 CFR 741.11.
    Abstract: This collection covers the additional information a 
credit union must provide to establish a branch office outside the 
United States (except for U.S. embassies and military installations). 
The application must include (1) a business plan, (2) written approval 
by the state supervisory agency if the applicant is a state-chartered 
credit union, and (3) documentation evidencing written permission from 
the host country to establish the branch that explicitly recognizes 
NCUA's authority to examine and take any enforcement actions, including 
conservatorship and liquidation actions.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 33.
    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 
performance 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 the National Credit Union Administration Board.
Melane Conyers-Ausbrooks,
Secretary of the Board.
[FR Doc. 2023-12116 Filed 6-6-23; 8:45 am]
BILLING CODE 7535-01-P