81 FR 50564 - Agency Information Collection Activities: Proposed Collection; Comment Request

NATIONAL CREDIT UNION ADMINISTRATION

Federal Register Volume 81, Issue 147 (August 1, 2016)

Page Range50564-50565
FR Document2016-18135

The National Credit Union Administration (NCUA), as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment the following information collections, as required by the Paperwork Reduction Act of 1995 (Public Law 104-13, 44 U.S.C. Chapter 35).

Federal Register, Volume 81 Issue 147 (Monday, August 1, 2016)
[Federal Register Volume 81, Number 147 (Monday, August 1, 2016)]
[Notices]
[Pages 50564-50565]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-18135]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request

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 
its continuing effort to reduce paperwork and respondent burden, 
invites the general public and other Federal agencies to comment the 
following information collections, as required by the Paperwork 
Reduction Act of 1995 (Public Law 104-13, 44 U.S.C. Chapter 35).

DATES: Written comments should be received on or before August 31, 2016 
to be assured consideration.

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

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to the address above.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0108.
    Title: Monitoring Bank Secrecy Act Compliance, 12 CFR 748.2.
    Abstract: Section 748.2 of NCUA's regulations, directs credit 
unions to establish a Bank Secrecy Act (BSA) compliance program that 
maintains procedures designed to assure and

[[Page 50565]]

monitor compliance with the requirement of 31 U.S.C., Chap. 53, 
Subchapter II (sec. 5301-5329), the Bank Secrecy Act (31 U.S.C. 
5318(g)), and 31 CFR Chapter X (parts 1000-1099), Financial Crimes 
Enforcement Network, Department of the Treasury. Each federally insured 
credit union (FICU) must develop and provide for the continued 
administration of a BSA compliance program to assure and monitor 
compliance with the recordkeeping and recording requirements prescribed 
by the BSA. At a minimum, a compliance program shall provide for a 
system of internal controls, independent testing for compliance, 
designation of an individual responsible for coordinating and 
monitoring day-to-day compliance; and training. NCUA examiners review 
the program to determine whether the credit union's procedures comply 
with all BSA requirements.
    Type of Review: Extension of a previously approved collection.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated No. of Respondents/Recordkeepers: 5,954.
    Estimated Annual Frequency: 1.
    Estimated Annual No. of Responses: 5,954.
    Estimated Burden Hours per Response: 16.
    Estimated Total Annual Burden Hours: 95,264.
    Adjustment are being made to reflect the decline in the number of 
FICUs.
    OMB Number: 3133-0146.
    Title: Production of Non-public Records and Testimony of Employees 
in Legal Proceedings (Touhy Request).
    Abstract: Title 12 CFR part 792, subpart C, requires anyone 
requesting NCUA non-public records for use in legal proceedings, or 
similarly the testimony of NCUA personnel, to provide NCUA with 
information regarding the requester's grounds for the request. This 
process is also known as a ``Touhy Request''. The information collected 
will help the NCUA decide whether to release non-public records or 
permit employees to testify in legal proceedings.
    Type of Review: Extension of a previously approved collection.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated No. of Respondents: 20.
    Estimated Annual Frequency: 1.
    Estimated Annual No. of Responses: 20.
    Estimated Burden Hours per Response: 2.
    Estimated Total Annual Burden Hours: 40.
    OMB Number: 3133-0181.
    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.
    Type of Review: Reinstatement of a previously approved collection.
    Affected Public: Individuals or households; Private Sector: Not-
for-profit institutions.
    Estimated No. of Respondents/Recordkeepers: 56,276 MLO; 3,357 
Federal-Insured Credit Unions (FICU).
    Estimated Annual Frequency: 2.25.
    Estimated Annual No. of Responses: 132,068.
    Estimated Burden Hours per Response: 0.58.
    Estimated Total Annual Burden Hours: 76,204.
    Adjustment are being made to provide updated recordkeeping burden 
on FICU. Since 2010, the registry is a standard business practice for 
MLOs and adjustment have been made to reflect this decrease.
    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 Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on July 27, 2016.

    Dated: July 27, 2016.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-18135 Filed 7-29-16; 8:45 am]
 BILLING CODE 7535-01-P


Current View
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice and request for comment.
DatesWritten comments should be received on or before August 31, 2016 to be assured consideration.
ContactRequests for additional information
FR Citation81 FR 50564 

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