[Federal Register Volume 81, Number 124 (Tuesday, June 28, 2016)]
[Notices]
[Page 42005]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-15159]



[[Page 42005]]

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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 submit 
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, Public Law 104-13, on or after the 
date of publication of this notice.

DATES: Comments should be received on or before July 28, 2016 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 22314-3428 or email at 
[email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by emailing [email protected] or viewing the entire 
information collection request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0092.
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Title: Loans to Members and Lines of Credit to Members, 12 CFR 
701.21 and 12 CFR 741.
    Abstract: Section 107(5) of the Federal Credit Union Act authorizes 
Federal Credit Unions to make loans to members and issue lines of 
credit (including credit cards) to members. Part 741 of NCUA's rules 
and regulations established requirements for all federally insured 
credit unions related to loans to members and lines of credit union 
members. Additionally, NCUA's rules and regulations at Sec.  701.21 
establish additional requirements related to loans to members and lines 
of credit to members for federal credit unions. These regulations 
include various information collections to ensure credit unions comply 
with applicable laws and operate in a safe and sound manner.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Annual Burden Hours: 423,451.

    OMB Number: 3133-0127.
    Type of Review: Reinstatement without change of a previously 
approved collection.
    Title: Purchase, Sale and Pledge of Eligible Obligations, 12 CFR 
701.23.
    Abstract: The Federal Credit Union Act limits the amount of 
eligible obligations a federal credit union is permitted to purchase, 
sell, pledge, discount, receive or dispose of under Section 107(13), 12 
U.S.C. 107. NCUA's rules and regulations further govern this limitation 
by prescribing additional requirements under Sec.  701.23. The various 
information collections are in place to ensure a federal credit union's 
activities related to the purchase, sale, and pledge of eligible 
obligations comply with applicable laws and are conducted in a safe and 
sound manner.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Annual Burden Hours: 10,540.

    OMB Number: 3133-0134.
    Type of Review: Reinstatement with change of a previously approved 
collection.
    Title: Account Based Disclosures in Connection with 12 CFR part 
707.
    Abstract: NCUA's Truth in Savings Act (TISA) regulation (12 CFR 
707.4, 707.5, 707.6, 707.8) requires credit unions to provide specific 
disclosures when an account is opened, when a disclosed term changes or 
a term account is close to renewal, on periodic statements of account 
activity, in advertisements, and upon a member's or potential member's 
request. Credit unions that provide periodic statements are required to 
include information about fees imposed, the annual percentage yield 
earned during those statement periods, and other account terms.
    The requirements for creating and disseminating account 
disclosures, change in terms notices, term share renewal notices, 
statement disclosures, and advertising disclosures are necessary to 
implement TISA's purpose of providing the public with information that 
will permit informed comparisons of accounts at depository 
institutions.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Annual Burden Hours: 438,852.
    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on June 22, 2016.

    Dated: June 22, 2016.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-15159 Filed 6-27-16; 8:45 am]
 BILLING CODE 7535-01-P