82 FR 8438 - Agency Information Collection Activities: Proposed Collection; Comment Request; Leasing
NATIONAL CREDIT UNION ADMINISTRATION Federal Register Volume 82, Issue 15 (January 25, 2017)
Federal Register Volume 82, Issue 15 (January 25, 2017)
| Page Range | 8438-8439 | |
| FR Document | 2017-01646 |
[Federal Register Volume 82, Number 15 (Wednesday, January 25, 2017)] [Notices] [Pages 8438-8439] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-01646] ----------------------------------------------------------------------- NATIONAL CREDIT UNION ADMINISTRATION Agency Information Collection Activities: Proposed Collection; Comment Request; Leasing AGENCY: National Credit Union Administration (NCUA). ACTION: Notice and request for comment. ----------------------------------------------------------------------- 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 the following extension request of currently approved collection, 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 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: 3133-0151. Title: Leasing, 12 CFR part 714. Abstract: Section 714.5 of NCUA's Regulations requires a federal credit [[Page 8439]] 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 previously approved collection. Affected Public: Private Sector: Not-for-profit institutions. Estimated No. of Respondents: 68. Estimated Annual Frequency: 5. Estimated Annual No. of Responses: 340. Estimated Burden Hours per Respondent: 2. Estimated Total Annual Burden Hours: 680. An adjustment is due to the increase in the number of credit unions that offer leasing products, resulting in an increase in burden. 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 Gerard Poliquin, Secretary of the Board, the National Credit Union Administration, on January 19, 2017. Dawn D. Wolfgang, NCUA PRA Clearance Officer. [FR Doc. 2017-01646 Filed 1-24-17; 8:45 am] BILLING CODE 7535-01-P
![8438 Federal Register / Vol. 82, No. 15 / Wednesday, January 25, 2017 / Notices
Title: Authorization Agreement for and income; and Each property, become a matter of public record. The
Electronic Funds Transfer Payment. including location and occupancy public is invited to submit comments
Abstract: The NCUA is required status. concerning: (a) Whether the collection
under the Debt Collection Improvement A covered lender generally must of information is necessary for the
Act of 1996 to issue payments to credit update information quarterly—all proper performance of the function of
unions and all other entities reportable transaction must be recorded the agency, including whether the
electronically. The ‘‘Authorization within 30 calendar days after the end of information will have practical utility;
Agreement for Electronic Funds the calendar quarter in which final (b) the accuracy of the agency’s estimate
Transfer Payment’’ form is used to action is taken on a loan application of the burden of the collection of
maintain up-to-date and accurate register (LAR)—and must submit the information, including the validity of
electronic payment data for new and completed LAR annually to the the methodology and assumptions used;
existing credit unions. NCUA will use appropriate Federal agency by March 1 (c) ways to enhance the quality, utility,
the information to update its vendor of the year following the year covered and clarity of the information to be
(credit union) electronic routing and by the LAR. Institutions that submit collected; and (d) ways to minimize the
transit data database to enable incorrect information may be required burden of the collection of the
transmittal of funds and payments. If to correct and resubmit the information. information on the respondents,
this information is not collected, NCUA The Federal Financial Institutions including the use of automated
will not be able to make payment Examination Council (FFIEC) then collection techniques or other forms of
electronically through the Automated prepares a disclosure statement from information technology.
Clearing House (ACH) and will be in data submitted by the financial By Gerard Poliquin, Secretary of the Board,
non-compliance with the Debt institutions, and provides the disclosure the National Credit Union Administration, on
Collection Improvement Act of 1996. statement to the financial institution. January 19, 2017.
Type of Review: Extension of a Within three business days of receiving Dated: January 19, 2017.
currently approved collection. its statement, the financial institution Dawn D. Wolfgang,
Affected Public: Private Sector: Not- must make a copy available at its home NCUA PRA Clearance Officer.
for-profit institutions. office. In addition, within ten business [FR Doc. 2017–01658 Filed 1–24–17; 8:45 am]
Estimated Number of Respondents: days of receiving its disclosure
BILLING CODE 7535–01–P
100. statement, the financial institution must
Estimated Annual Frequency: 1. either: (1) Make the disclosure statement
Estimated Number Responses per available in at least one branch office in NATIONAL CREDIT UNION
Respondent: 100. every Metropolitan Statistical Area ADMINISTRATION
Estimated Burden Hours per (MSA) and Metropolitan Division
Response: 15 minutes. (Division) where it has an office or (2) Agency Information Collection
Estimated Total Annual Burden post a notice in at least one branch Activities: Proposed Collection;
Hours: 25. office per MSA and Division where it Comment Request; Leasing
The number of respondents has been has an office stating that the disclosure
revised to reflect only submissions statement is available upon written AGENCY: National Credit Union
made by new or FCU requesting changes request. A covered lender must make Administration (NCUA).
to their account information. each public disclosure statement ACTION: Notice and request for comment.
OMB Number: 3133–0166. available to the public for five years.
Each financial institution must retain SUMMARY: The National Credit Union
Title: Home Mortgage Disclosure Administration (NCUA), as part of a
(Regulation C), 12 CFR 1003. its completed LAR for three years and
during that period it must make its LAR continuing effort to reduce paperwork
Abstract: HMDA was enacted in 1975 and respondent burden, invites the
and requires most mortgage lenders available to the public after redacting
certain information to protect the general public and other Federal
lending in metropolitan areas to collect agencies to comment on the following
data about their housing-related lending privacy of its applicants and borrowers.
Type of Review: Extension of a extension request of currently approved
activity. Historically, HMDA has been collection, as required by the Paperwork
implemented by the Board of Governors currently approved collection.
Affected Public: Private Sector: Not- Reduction Act of 1995.
of the Federal Reserve System’s (FRB)
for-profit institutions. DATES: Written comments should be
Regulation C, 12 CFR part 203. Congress Estimated Number of Respondents: received on or before March 27, 2017 to
has periodically modified the law, and 1,967. be assured consideration.
FRB has routinely updated Regulation Estimated Number of Loan
C. The Dodd-Frank Wall Street Reform ADDRESSES: Interested persons are
Applications/Responses: 894,500. invited to submit written comments on
and Consumer Protection Act of 2010 Estimated Burden Hours per
transferred FRB’s rulemaking authority the information collections to Dawn
Response: 5 minutes. Wolfgang, National Credit Union
for HMDA to CFPB. Estimated Total Annual Burden
Regulation C, 12 CFR part 1003, Administration, 1775 Duke Street, Suite
Hours: 74,542.
requires financial institutions that meet The number of federally insured 5067, Alexandria, Virginia 22314; Fax
certain thresholds to report data credit union respondents filing HMDA No. 703–519–8579; or Email at
annually about: Each application or LAR and the total number of reportable PRAComments@NCUA.gov.
loan, including the application date; the HMDA loans have been adjusted to FOR FURTHER INFORMATION CONTACT:
mstockstill on DSK3G9T082PROD with NOTICES
action taken and the date of that action; reflect the numbers obtained for Requests for additional information
the loan amount; the loan type (for calendar years 2012 and 2013. should be directed to the address above.
example, government guaranteed or not) Request for Comments: Comments SUPPLEMENTARY INFORMATION:
and purpose (for example, home submitted in response to this notice will OMB Number: 3133–0151.
purchase); and, if the loan is sold, the be summarized and included in the Title: Leasing, 12 CFR part 714.
type of purchaser; Each applicant or request for Office of Management and Abstract: Section 714.5 of NCUA’s
borrower, including ethnicity, race, sex, Budget approval. All comments will Regulations requires a federal credit
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![Federal Register / Vol. 82, No. 15 / Wednesday, January 25, 2017 / Notices 8439
union engaged in leasing to obtain or the methodology and assumptions used; members may inspect and copy the
have on file financial documentation (c) ways to enhance the quality, utility, FCU’s books, records, and minutes of
demonstrating that the guarantor of an and clarity of the information to be meetings. The collection of information
estimated residual value has the collected; and (d) ways to minimize the requirements apply to FCU members
resources to meet the guarantee. burden of the collection of the seeking inspection and copying of the
Estimated residual value is the information on the respondents, FCU’s records and FCUs that receive
projected future value of leased property including the use of automated such member requests. To obtain access
at lease end. The accuracy of the collection techniques or other forms of to records, members are required to
estimated residual values used in a lease information technology. submit a petition to the FCU, stating a
program is a fundamental element in the By Gerard Poliquin, Secretary of the Board, proper purpose for inspection and
success or failure of a lease program. the National Credit Union Administration, on signed by at least one percent of the
The higher the estimated residual values January 19, 2017. members, with a minimum of 20 and a
used by a federal credit union, the Dawn D. Wolfgang, maximum of 500 members. The FCU
greater the potential for loss. To mitigate NCUA PRA Clearance Officer. must permit inspection of relevant
this risk, the leasing rule requires that [FR Doc. 2017–01646 Filed 1–24–17; 8:45 am]
records if it receives such a petition.
if the amount of the estimated residual The FCU uses the information in
BILLING CODE 7535–01–P
value relied on by the federal credit determining whether and upon what
union to satisfy the full payout lease terms to provide records to members for
requirement exceeds 25 percent of the NATIONAL CREDIT UNION inspection. The petition signatures
original cost of the leased property, the ADMINISTRATION collected by each FCU will be used by
credit union must obtain a guarantee of the FCU to verify the membership status
the excess from a financially capable Submission for OMB Review; of each petitioner.
party. Comment Request Type of Review: Extension of a
If the guarantor cannot meet its previously approved collection.
guarantee, a federal credit union may AGENCY: National Credit Union Affected Public: Individuals and
suffer serious financial loss. Administration (NCUA). Households; Private Sector: Not-for-
Accordingly, it is important that a ACTION: Notice. profit institutions.
federal credit union documents that a Estimated Total Annual Burden
SUMMARY: The National Credit Union
guarantor has the financial resources Hours: 360.
Administration (NCUA) will be
and capability to meet the guarantee. If OMB Number: 3133–XXXX.
submitting the following information
the guarantor is an insurance company, Title: Contractor’s Diversity Profile.
collection requests to the Office of
the federal credit union may satisfy this Abstract: As part of NCUA’s mission,
Management and Budget (OMB) for
record keeping requirement by the Office of Minority and Women
review and clearance in accordance
obtaining and maintaining information Inclusion (OMWI) ‘‘implements
with the Paperwork Reduction Act of
demonstrating that the insurance standards and procedures to ensure, to
1995, Public Law 104–13, on or after the
company has a rating equivalent to a B+ the maximum extent possible, the fair
date of publication of this notice.
or better from a major rating company. inclusion and utilization of minorities,
DATES: Comments should be received on
Type of Review: Extension of a women, and minority-owned and
previously approved collection. or before February 24, 2017 to be
assured of consideration. women-owned businesses in all
Affected Public: Private Sector: Not- business activities of the agency.’’
for-profit institutions. ADDRESSES: Send comments regarding
In accordance with Section 342 of the
Estimated No. of Respondents: 68. the burden estimate, or any other aspect
Dodd-Frank Act that OMWIs ‘‘include a
Estimated Annual Frequency: 5. of the information collection, including
written statement, in a form and with
Estimated Annual No. of Responses: suggestions for reducing the burden, to
such content as the [OMWI] Director
340. (1) Office of Information and Regulatory
shall prescribe, that a contractor shall
Estimated Burden Hours per Affairs, Office of Management and
ensure, to the maximum extent possible,
Respondent: 2. Budget, Attention: Desk Officer for
the fair inclusion of women and
Estimated Total Annual Burden NCUA, New Executive Office Building,
minorities in the workforce of the
Hours: 680. Room 10235, Washington, DC 20503, or
contractor and, as applicable,
An adjustment is due to the increase email at OIRA_Submission@
subcontractors,’’ each new contract
in the number of credit unions that offer OMB.EOP.gov and (2) NCUA PRA
award whose dollar value exceeds
leasing products, resulting in an Clearance Officer, 1775 Duke Street,
$100,000 (NCUA’s Simplified
increase in burden. Alexandria, VA 22314, Suite 5067, or
Acquisition Threshold) will include a
email at PRAComments@ncua.gov.
REQUEST FOR COMMENTS: Comments Good Faith Effort (GFE) Certification.
submitted in response to this notice will FOR FURTHER INFORMATION CONTACT: This certification is included in the
be summarized and included in the Copies of the submission may be solicitation package and returned to
request for Office of Management and obtained by emailing PRAComments@ NCUA as part the contractor’s proposal,
Budget approval. All comments will ncua.gov or viewing the entire with the understanding that the
become a matter of public record. The information collection request at contractor maybe required to provide
public is invited to submit comments www.reginfo.gov. documentation in support of
concerning: (a) Whether the collection SUPPLEMENTARY INFORMATION: certification. As part of this compliance
mstockstill on DSK3G9T082PROD with NOTICES
of information is necessary for the OMB Number: 3133–0176. review, selected contractors will be sent
proper execution of the function of the Title: Member Inspection of Credit a Contractors Diversity Profile to
agency, including whether the Union Books, Records, and Minutes. provide documentation outlined in the
information will have practical utility; Abstract: Section 701.3 of NCUA’s GFE certification to NCUA. The
(b) the accuracy of the agency’s estimate regulations establishes the contractor would provide current
of the burden of the collection of circumstances and conditions under information on their diversity strategy,
information, including the validity of which Federal credit union (FCU) policies, recruitment, planning and
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Document Created: 2017-01-25 00:08:55
Document Modified: 2017-01-25 00:08:55
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice and request for comment. | |
| Dates | Written comments should be received on or before March 27, 2017 to be assured consideration. | |
| Contact | Requests for additional information | |
| FR Citation | 82 FR 8438 |
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