[Federal Register Volume 78, Number 167 (Wednesday, August 28, 2013)]
[Notices]
[Pages 53170-53171]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-20941]
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NATIONAL CREDIT UNION ADMINISTRATION
Agency Information Collection Activities: Submission to OMB for
Reinstatement, With Change, of a Previously Approved Collection;
Comment Request
AGENCY: National Credit Union Administration (NCUA).
ACTION: Request for comment.
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SUMMARY: The NCUA intends to submit the following information
collection to the Office of Management and Budget (OMB) for review and
clearance under the Paperwork Reduction Act of 1995. This information
collection is published to obtain comments from the public. NCUA has
authorized federal credit unions to advance money to members to cover
account deficits without having a credit application on file if the
credit union has a written overdraft policy. NCUA has also authorized
federally insured credit unions to offer lending-related incentive pay
to employees, provided they establish written policies regarding such
plans.
DATES: Comments will be accepted until September 27, 2013.
ADDRESSES: Interested parties are invited to submit written comments to
the NCUA Contact and the OMB Reviewer listed below:
NCUA Contact: Tracy Crews, National Credit Union Administration, 1775
Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-2861,
Email: [email protected].
OMB Contact: Office of Management and Budget, ATTN: Desk Officer for
the National Credit Union Administration, Office of Information and
Regulatory Affairs, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: Requests for additional information, a
copy of the information collection request, or a copy of submitted
comments should be directed to Tracy Crews at the National Credit Union
Administration, 1775 Duke Street, Alexandria, VA 22314-3428, or at
(703) 518-6444.
SUPPLEMENTARY INFORMATION:
I. Abstract and Request for Comments
NCUA is reinstating the collection of information for 3133-0139.
NCUA has authorized federal credit unions to advance money to members
to cover account deficits without having a credit application on file
if the credit union has a written overdraft policy. 12 CFR
701.21(c)(3). NCUA believes a written policy is necessary to ensure
safety and soundness in the credit union industry and to protect the
interests of credit union members where a federal credit union provides
overdraft protection to a member without having his or her credit
application on file. NCUA has also authorized federally insured credit
unions to offer lending-related incentive pay to employees, provided
they establish written policies regarding such plans. 12 CFR
701.21(c)(8). NCUA believes those written policies are necessary to
ensure a plan is fully considered before being adopted and for the
examination process. NCUA examiners use the information in these
policies to review for safety and soundness. This submission represents
an adjustment to the recordkeeping hour and cost burden since the last
submission. Based on information in March 2013 call reports, we
estimate approximately 1,725 federal credit unions are required to have
written overdraft policies and approximately 575 federally insured
credit unions are required to have written policies for lending-related
employee incentive pay plans.
The NCUA requests that you send your comments on this collection to
the location listed in the addresses section. Your comments should
address: (a) The necessity of the information collection for the proper
performance of NCUA, including whether the information will have
practical utility; (b) the accuracy of our estimate of the burden
(hours and cost) of the collection of information, including the
validity of the methodology and assumptions used; (c) ways we could
enhance the quality, utility, and clarity of the information to be
collected; and (d) ways we could minimize the burden of the collection
of the information on the respondents such as through the use of
automated collection techniques or other forms of information
technology. It is NCUA's policy to make all comments available to the
public for review.
II. Data
Title: Organization and Operations of Federal Credit Unions (12 CFR
Part 701), (previously titled Overdraft and Lending-Related Employee
Incentive Pay Plan Policies).
OMB Number: 3133-0139.
Form Number: None.
Type of Review: Reinstatement, with change, of a previously
approved collection.
Description: Federal credit unions wishing to advance money to
members to cover account deficits without having a credit application
on file must establish a written overdraft policy. Federally insured
credit unions wishing
[[Page 53171]]
to pay lending-related incentives to employees must establish written
policies.
Respondents: Certain Federal and federally insured credit unions.
Estimated No. of Respondents/Recordkeepers: 2,300.
Estimated Burden Hours per Response: 3 hours for overdraft policy
and 2 hours for lending-related employee incentive pay plan policies.
Frequency of Response: On occasion.
Estimated Total Annual Burden Hours: 6,325 hours.
Estimated Total Annual Cost: $158,125.
By the National Credit Union Administration Board on August 22,
2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013-20941 Filed 8-27-13; 8:45 am]
BILLING CODE 7535-01-P