80 FR 30498 - Agency Information Collection Activities: Submission for Office of Management and Budget Review; Comment Request; for Reinstatement, With Change, of a Previously Approved Collection; Notice of Change of Officials and Senior Executive Officers Forms

NATIONAL CREDIT UNION ADMINISTRATION

Federal Register Volume 80, Issue 102 (May 28, 2015)

NCUA intends to submit a collection of information related to the Notice of Change of Officials and Senior Executive Officers Forms to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (PRA).

[Federal Register Volume 80, Number 102 (Thursday, May 28, 2015)]
[Notices]
[Pages 30498-30499]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-12814]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Submission for Office 
of Management and Budget Review; Comment Request; for Reinstatement, 
With Change, of a Previously Approved Collection; Notice of Change of 
Officials and Senior Executive Officers Forms

AGENCY: National Credit Union Administration (NCUA).

ACTION: Request for comment.

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SUMMARY: NCUA intends to submit a collection of information related to 
the Notice of Change of Officials and Senior Executive Officers Forms 
to the Office of Management and Budget (OMB) for review and clearance 
under the Paperwork Reduction Act of 1995 (PRA).

DATES: Comments will be accepted until June 29, 2015.

ADDRESSES: Comments should be directed to: (i) Desk Officer for the 
National Credit Union Administration, 3133-0121, U.S. Office of 
Management and Budget, 725 17th Street NW., #10102, Washington, DC 
20503, [email protected]; and (ii) Jessica Khouri, 1775 Duke 
Street, Alexandria, VA 22314-3428, [email protected].

FOR FURTHER INFORMATION CONTACT: Requests for additional information, a 
copy of the information collection request, or a copy of submitted 
comments should be directed to Jessica Khouri at the National Credit 
Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428, or 
at [email protected].

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    NCUA is requesting an extension of the previously approved 
collection for 3133-0121. The Federal Credit Union (FCU) Act 
specifically requires all federally insured credit unions to notify 
NCUA at least 30 days prior to a change in official or senior executive 
officer if that credit union is newly chartered or in troubled 
condition. During that 30-day period, NCUA can disapprove the credit 
union's request. Since the last submission for 3133-0121, NCUA amended 
12 CFR 701.14 to redefine ``troubled condition'' in relation to 
federally insured state chartered credit unions (FISCUs). The revised 
rule redefines a FISCU in ``troubled condition'' to be not only when 
its state supervisory authority (SSA) assigns it a ``4'' or ``5'' 
composite code rating, but

[[Page 30499]]

also when either its SSA or NCUA assigns such a rating. Prior 
definitions of troubled credit unions did not include FISCUs rated a 
code 4 or 5 only by NCUA.
    The FCU Act requires notice from the insured credit union to 
include certain personal information about the individual to determine 
the individual's fitness for the position. NCUA regulation at 12 CFR 
701.14 implements Section 212. Section 701.14 requires that within 10 
calendar days of receiving the notice, the Regional Director must 
inform the credit union either that the notice is complete or that 
additional specified information is required to be submitted within 30 
calendar days. Additionally, this section requires the Regional 
Director or Director of Office of National Examinations and Supervision 
to issue a written decision of approval or disapproval to the 
individual and the credit union within 30 calendar days of receipt of 
the notice. Otherwise, the individual is approved. NCUA's regulation at 
12 CFR 741.205 requires federally insured state-chartered credit unions 
to follow section 701.14.
    NCUA's regulations at 12 CFR part 747 (subpart J) sets forth the 
rights an individual or a credit union may exercise and procedures to 
be followed in responding to a notice of disapproval by NCUA.
    NCUA's forms 4063 and 4063a provide a uniform method for credit 
unions and individuals to submit information to NCUA regarding changes 
to officials and senior executive officers. NCUA uses the information 
to determine an individual's fitness for the position.
    In the Federal Register of January 22, 2015 (80 FR 3255), NCUA 
published a 60-day notice requesting public comment on the proposed 
collection of information. NCUA received no comments.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid OMB control number.
    NCUA requests that you send your comments on the information 
collection requirements outlined by 12 CFR 701.14 to the locations 
listed in the addresses section. Your comments should address: (a) The 
necessity of the information collection for the proper performance of 
NCUA, including whether the information will have practical utility; 
(b) the accuracy of our estimate of the burden (hours and cost) of the 
collection of information, including the validity of the methodology 
and assumptions used; (c) ways we could enhance the quality, utility, 
and clarity of the information to be collected; and (d) ways we could 
minimize the burden of the collection of the information on the 
respondents such as through the use of automated collection techniques 
or other forms of information technology. It is NCUA's policy to make 
all comments available to the public for review.

II. Data

    Title: Notice of Change of Officials and Senior Executive Officers 
Forms.
    OMB Number: 3133-0121.
    Form Number: NCUA Form 4063 and NCUA Form 4063a.
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Description: To comply with statutory requirements, NCUA must 
obtain sufficient information from new officials or senior executive 
officers of newly chartered or troubled credit unions to determine the 
individual's fitness for the positon. This is established by the 
Financial Institutions Reform, Recovery, and Enforcement Act of 1989. 
These forms standardize the information gathered to evaluate the 
individual's fitness for the position.
    Respondents: Credit unions defined as newly chartered or in 
troubled condition and individuals applying for senior executive 
officer or official positions within a credit union defined as newly 
chartered or in troubled condition.
    Estimated Number of Respondents/Record keepers: 424.
    Estimated Burden Hours per Response: 1-2 hours.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden Hours: 1,907 hours.
    Estimated Total Annual Cost: $34,948.

    By the National Credit Union Administration Board on May 21, 
2015.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2015-12814 Filed 5-27-15; 8:45 am]
 BILLING CODE 7535-01-P