82 FR 8437 - Agency Information Collection Activities: Proposed Collection; Comment Request

NATIONAL CREDIT UNION ADMINISTRATION

Federal Register Volume 82, Issue 15 (January 25, 2017)

NCUA, as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extensions of currently approved collections, as required by the Paperwork Reduction Act of 1995.

[Federal Register Volume 82, Number 15 (Wednesday, January 25, 2017)]
[Notices]
[Pages 8437-8438]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-01658]


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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: NCUA, as part of a continuing effort to reduce paperwork and 
respondent burden, invites the general public and other Federal 
agencies to comment on the following extensions of currently approved 
collections, as required by the Paperwork Reduction Act of 1995.

DATES: Written comments should be received on or before March 27, 2017 
to be assured consideration.

ADDRESSES: Interested persons are invited to submit written comments on 
the information collection to Dawn Wolfgang, 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: Requests for additional information 
should be directed to the address above.

SUPPLEMENTARY INFORMATION: NCUA, as part of a continuing effort to 
reduce paperwork and respondent burden, invites the general public and 
other Federal agencies to comment on the following extensions of 
currently approved collections, as required by the Paperwork Reduction 
Act of 1995 (Pub. L. 104-13, 44 U.S.C. Chapter 35).
    OMB Number: 3133-0135.

[[Page 8438]]

    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 will use the information to update its vendor (credit 
union) electronic routing and transit data database to enable 
transmittal of funds and payments. If this information is not 
collected, NCUA will not be able to make payment electronically through 
the Automated Clearing House (ACH) and will be in non-compliance with 
the Debt Collection Improvement Act of 1996.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Number of Respondents: 100.
    Estimated Annual Frequency: 1.
    Estimated Number Responses per Respondent: 100.
    Estimated Burden Hours per Response: 15 minutes.
    Estimated Total Annual Burden Hours: 25.
    The number of respondents has been revised to reflect only 
submissions made by new or FCU requesting changes to their account 
information.

    OMB Number: 3133-0166.
    Title: Home Mortgage Disclosure (Regulation C), 12 CFR 1003.
    Abstract: HMDA was enacted in 1975 and requires most mortgage 
lenders lending in metropolitan areas to collect data about their 
housing-related lending activity. Historically, HMDA has been 
implemented by the Board of Governors of the Federal Reserve System's 
(FRB) Regulation C, 12 CFR part 203. Congress has periodically modified 
the law, and FRB has routinely updated Regulation C. The Dodd-Frank 
Wall Street Reform and Consumer Protection Act of 2010 transferred 
FRB's rulemaking authority for HMDA to CFPB.
    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 (for 
example, government guaranteed or not) and purpose (for example, home 
purchase); 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--all 
reportable transaction must be recorded within 30 calendar days after 
the end of the calendar quarter in which final action is taken on a 
loan application register (LAR)--and must submit the completed LAR 
annually to the appropriate Federal agency by March 1 of the year 
following the year covered by the LAR. Institutions that submit 
incorrect information may be required to correct and resubmit the 
information. 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. Within three business days of receiving its 
statement, the financial institution must make a copy available at its 
home office. In addition, within ten business days of receiving its 
disclosure statement, the financial institution must either: (1) Make 
the disclosure statement available in at least one branch office in 
every Metropolitan Statistical Area (MSA) and Metropolitan Division 
(Division) where it has an office or (2) post a notice in at least one 
branch office per MSA and Division where it has an office stating that 
the disclosure statement is available upon written request. A covered 
lender must make each public disclosure statement available to the 
public for five years.
    Each financial institution must retain its completed LAR for three 
years and during that period it must make its LAR available to the 
public after redacting certain information to protect the privacy of 
its applicants and borrowers.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Number of Respondents: 1,967.
    Estimated Number of Loan Applications/Responses: 894,500.
    Estimated Burden Hours per Response: 5 minutes.
    Estimated Total Annual Burden Hours: 74,542.
    The number of federally insured credit union respondents filing 
HMDA LAR and the total number of reportable HMDA loans have been 
adjusted to reflect the numbers obtained for calendar years 2012 and 
2013.
    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 January 19, 2017.
    Dated: January 19, 2017.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2017-01658 Filed 1-24-17; 8:45 am]
BILLING CODE 7535-01-P