82 FR 16073 - Submission for OMB Review; Comment Request

NATIONAL CREDIT UNION ADMINISTRATION

Federal Register Volume 82, Issue 61 (March 31, 2017)

The National Credit Union Administration (NCUA) will be submitting 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.

[Federal Register Volume 82, Number 61 (Friday, March 31, 2017)]
[Notices]
[Page 16073]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-06353]


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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 be 
submitting 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 May 1, 2017 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
NCUA, New Executive Office Building, Room 10235, Washington, DC 20503, 
or email at [email protected] and (2) NCUA PRA Clearance 
Officer, 1775 Duke Street, Alexandria, VA 22314, Suite 5067, or email 
at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by contacting Dawn Wolfgang, NCUA PRA Clearance Officer, at 
(703) 548-2279, emailing [email protected], or viewing the entire 
information collection request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0151.
    Title: Leasing, 12 CFR part 714.
    Abstract: Section 714.5 of NCUA's Regulations requires a federal 
credit union engaged in leasing to obtain or have on file financial 
documentation demonstrating that the guarantor of an estimated residual 
value has the resources to meet the guarantee. Estimated residual value 
is the projected future value of leased property at lease end. The 
accuracy of the estimated residual values used in a lease program is a 
fundamental element in the success or failure of a lease program. The 
higher the estimated residual values used by a federal credit union, 
the greater the potential for loss. To mitigate this risk, the leasing 
rule requires that if the amount of the estimated residual value relied 
on by the federal credit union to satisfy the full payout lease 
requirement exceeds 25 percent of the original cost of the leased 
property, the credit union must obtain a guarantee of the excess from a 
financially capable party.
    If the guarantor cannot meet its guarantee, a federal credit union 
may suffer serious financial loss. Accordingly, it is important that a 
federal credit union documents that a guarantor has the financial 
resources and capability to meet the guarantee. If the guarantor is an 
insurance company, the federal credit union may satisfy this record 
keeping requirement by obtaining and maintaining information 
demonstrating that the insurance company has a rating equivalent to a 
B+ or better from a major rating company.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 680.

    OMB Number: 3133-0135.
    Title: Authorization Agreement for Electronic Funds Transfer 
Payment.
    Abstract: The NCUA is required under the Debt Collection 
Improvement Act of 1996 to issue payments to credit unions and all 
other entities electronically. The ``Authorization Agreement for 
Electronic Funds Transfer Payment'' form is used to maintain up-to-date 
and accurate electronic payment data for new and existing credit 
unions. NCUA uses this information to update their electronic routing 
and transit database to enable transmittal of funds and payments. This 
collection of information is needed to allow NCUA authorization to make 
financial transactions electronically through the Automated Clearing 
House (ACH) in compliance with the Debt Collection Improvement Act of 
1996.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 25.

    OMB Number: 3133-0166.
    Title: Home Mortgage Disclosure Act (HMDA), 12 CFR 1003 (Regulation 
C).
    Abstract: Regulation C, 12 CFR part 1003, requires financial 
institutions that meet certain thresholds to report data annually 
about: Each application or loan, including the application date; the 
action taken and the date of that action; the loan amount; the loan 
type, and purpose; and, if the loan is sold, the type of purchaser; 
Each applicant or borrower, including ethnicity, race, sex, and income; 
and Each property, including location and occupancy status.
    A covered lender generally must update information quarterly and 
must submit the completed loan application register (LAR) annually to 
the appropriate Federal agency by March 1 of the year following the 
year covered by the LAR. The Federal Financial Institutions Examination 
Council (FFIEC) then prepares a disclosure statement from data 
submitted by the financial institutions, and provides the disclosure 
statement to the financial institution to make available at its home 
office. A covered lender must make each public disclosure statement 
available to the public for five years and retain its completed LAR for 
three years.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 74,542.

    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on March 28, 2017.

     Dated: March 28, 2017.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2017-06353 Filed 3-30-17; 8:45 am]
BILLING CODE 7535-01-P