81 FR 65674 - Agency Information Collection Activities: Proposed Collections; Comment Request

NATIONAL CREDIT UNION ADMINISTRATION

Federal Register Volume 81, Issue 185 (September 23, 2016)

The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on extensions of previously approved collections, as required by the Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44 U.S.C. Chapter 35).

[Federal Register Volume 81, Number 185 (Friday, September 23, 2016)]
[Notices]
[Pages 65674-65675]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-22913]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collections; 
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 a 
continuing effort to reduce paperwork and respondent burden, invites 
the general public and other Federal agencies to comment on extensions 
of previously approved collections, as required by the Paperwork 
Reduction Act of 1995 (Pub. L. 104-13, 44 U.S.C. Chapter 35).

DATES: Written comments should be received on or before November 22, 
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, 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: 3133-0094.
    Title: Suspicious Activity Report by Depository Institutions.
    Abstract: The Financial Crimes Enforcement Network (FinCEN), 
Department of the Treasury, was granted broad authority to require 
suspicious transaction reporting under the Bank Secrecy Act (BSA) (31 
U.S.C. 5318(g)). FinCEN joined with the bank regulators in adopting and 
requiring reports of suspicious transactions on a consolidated 
suspicious activity report (SARs) form. This simplified the process 
through which banks inform their regulators and law enforcement about 
suspected criminal activity. In 2011, FinCEN transitioned from industry 
specific paper forms to one electronically filed dynamic and 
interactive BAS-SAR for use by all filing institutions.
    Information about suspicious transactions conducted or attempted 
by, at, through, or otherwise involving credit unions are collected 
through FinCEN's BSA E-filing system by credit unions. A SAR is to be 
filed no later than 30 calendar days from the date of the initial 
detection of facts that may constitute a basis for filing a SAR. If no 
suspect can be identified, the period for filing a SAR is extended to 
60 days. FinCEN and law enforcement agencies use the information on 
BSA-SARs and the supporting documentation retained by the banks for 
criminal investigation and prosecution purposes.
    Adjustments in burden are due to an increase in total filings of 
suspicious activity by federally insured credit unions. The decrease in 
burden is due to adjustments made to the reporting and recordkeeping 
burden to align with FinCEN requirements.
    Type of Review: Extension of a previously approved collection.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated No. of Respondents/Recordkeepers: 5,887.
    Estimated No. of Responses per Respondent: 14.24.
    Estimated Annual Responses: 83,859.
    Estimated Burden Hours per Response: 1.
    Estimated Total Annual Burden Hours: 83,859.
    OMB Number: 3133-0167.
    Title: Foreign Branching; 12 CFR 741.11.
    Abstract: Pursuant to Part 741, Section 741.11 of the NCUA Rules 
and Regulations, an insured credit union that wishes to establish a 
branch office outside the United States (other than branches located on 
United States military installations or embassies) must apply for and 
receive approval from the NCUA regional director before establishing 
that branch. 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,

[[Page 65675]]

including conservatorship and liquidation actions.
    It is NCUA's understanding that no Federally Insured Credit Unions 
have sought to open any branches covered by this requirement over the 
last three years. However, we are seeking to maintain the OMB control 
number in the event that a credit union wishes to exercise this option.
    This information is necessary to evaluate the safety and soundness 
of the decision to open the branch and to protect the interests of the 
National Credit Union Share Insurance Fund.
    Type of Review: Extension of a previously approved collection.
    Estimated No. Respondents: Federally-insured credit unions.
    Estimated No. of Respondents: One.
    Frequency of Response: Once per foreign branch.
    Estimated Burden Hours per Response: 32.
    Estimated Total Annual Burden Hours: 32.
    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 
execution 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 John Brolin, Acting Secretary of the Board, the National 
Credit Union Administration, on September 19, 2016.

    Dated: September 19, 2016.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-22913 Filed 9-22-16; 8:45 am]
 BILLING CODE 7535-01-P