[Federal Register Volume 81, Number 147 (Monday, August 1, 2016)]
[Notices]
[Pages 50564-50565]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-18135]
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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: The National Credit Union Administration (NCUA), as part of
its continuing effort to reduce paperwork and respondent burden,
invites the general public and other Federal agencies to comment the
following information collections, as required by the Paperwork
Reduction Act of 1995 (Public Law 104-13, 44 U.S.C. Chapter 35).
DATES: Written comments should be received on or before August 31, 2016
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: 3133-0108.
Title: Monitoring Bank Secrecy Act Compliance, 12 CFR 748.2.
Abstract: Section 748.2 of NCUA's regulations, directs credit
unions to establish a Bank Secrecy Act (BSA) compliance program that
maintains procedures designed to assure and
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monitor compliance with the requirement of 31 U.S.C., Chap. 53,
Subchapter II (sec. 5301-5329), the Bank Secrecy Act (31 U.S.C.
5318(g)), and 31 CFR Chapter X (parts 1000-1099), Financial Crimes
Enforcement Network, Department of the Treasury. Each federally insured
credit union (FICU) must develop and provide for the continued
administration of a BSA compliance program to assure and monitor
compliance with the recordkeeping and recording requirements prescribed
by the BSA. At a minimum, a compliance program shall provide for a
system of internal controls, independent testing for compliance,
designation of an individual responsible for coordinating and
monitoring day-to-day compliance; and training. NCUA examiners review
the program to determine whether the credit union's procedures comply
with all BSA requirements.
Type of Review: Extension of a previously approved collection.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated No. of Respondents/Recordkeepers: 5,954.
Estimated Annual Frequency: 1.
Estimated Annual No. of Responses: 5,954.
Estimated Burden Hours per Response: 16.
Estimated Total Annual Burden Hours: 95,264.
Adjustment are being made to reflect the decline in the number of
FICUs.
OMB Number: 3133-0146.
Title: Production of Non-public Records and Testimony of Employees
in Legal Proceedings (Touhy Request).
Abstract: Title 12 CFR part 792, subpart C, requires anyone
requesting NCUA non-public records for use in legal proceedings, or
similarly the testimony of NCUA personnel, to provide NCUA with
information regarding the requester's grounds for the request. This
process is also known as a ``Touhy Request''. The information collected
will help the NCUA decide whether to release non-public records or
permit employees to testify in legal proceedings.
Type of Review: Extension of a previously approved collection.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated No. of Respondents: 20.
Estimated Annual Frequency: 1.
Estimated Annual No. of Responses: 20.
Estimated Burden Hours per Response: 2.
Estimated Total Annual Burden Hours: 40.
OMB Number: 3133-0181.
Title: Registration of Mortgage Loan Originators.
Abstract: The Secure and Fair Enforcement for Mortgage Licensing
Act (S.A.F.E. Act), 12 U.S.C. 5101 et seq., as codified by 12 CFR part
1007, requires an employee of a bank, savings association, or credit
union or a subsidiary regulated by a Federal banking agency or an
employee of an institution regulated by the Farm Credit Administration
(FCA), (collectively, Agency-regulated Institutions) who engages in the
business of a residential mortgage loan originator (MLO) to register
with the Nationwide Mortgage Licensing System and Registry (Registry)
and obtain a unique identifier. Agency-regulated institutions must also
adopt and follow written policies and procedures to assure compliance
with the S.A.F.E. Act. The Registry is intended to aggregate and
improve the flow of information to and between regulators; provide
increased accountability and tracking of mortgage loan originators;
enhance consumer protections; reduce fraud in the residential mortgage
loan origination process; and provide consumers with easily accessible
information at no charge regarding the employment history of, and the
publicly adjudicated disciplinary and enforcement actions against MLOs.
Type of Review: Reinstatement of a previously approved collection.
Affected Public: Individuals or households; Private Sector: Not-
for-profit institutions.
Estimated No. of Respondents/Recordkeepers: 56,276 MLO; 3,357
Federal-Insured Credit Unions (FICU).
Estimated Annual Frequency: 2.25.
Estimated Annual No. of Responses: 132,068.
Estimated Burden Hours per Response: 0.58.
Estimated Total Annual Burden Hours: 76,204.
Adjustment are being made to provide updated recordkeeping burden
on FICU. Since 2010, the registry is a standard business practice for
MLOs and adjustment have been made to reflect this decrease.
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 July 27, 2016.
Dated: July 27, 2016.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-18135 Filed 7-29-16; 8:45 am]
BILLING CODE 7535-01-P