[Federal Register Volume 85, Number 112 (Wednesday, June 10, 2020)]
[Notices]
[Page 35443]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-12568]
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NATIONAL CREDIT UNION ADMINISTRATION
Agency Information Collection Activities: Proposed Collection;
Comment Request; Designation of Low Income Status
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 a
continuing effort to reduce paperwork and respondent burden, invites
the general public and other Federal agencies to comment on the
following extension of a currently approved collection, as required by
the Paperwork Reduction Act of 1995.
DATES: Written comments should be received on or before August 10, 2020
to be assured consideration.
ADDRESSES: Interested persons are invited to submit written comments on
the information collection to Mackie Malaka, National Credit Union
Administration, 1775 Duke Street, Suite 6018, Alexandria, Virginia
22314; Fax No. 703-519-8579; or email at [email protected]. Given
the limited in-house staff because of the COVID-19 pandemic, email
comments are preferred.
FOR FURTHER INFORMATION CONTACT: Address requests for additional
information to Mackie Malaka at the address above or telephone 703-548-
2704.
SUPPLEMENTARY INFORMATION:
OMB Number: 3133-0117.
Title: Designation of Low Income Status, 12 CFR part 701.34(a).
Type of Review: Extension of a currently approved collection.
Abstract: The Federal Credit Union Act (12 U.S.C. 1752(5))
authorizes the NCUA Board to define low-income members so that credit
unions with a membership serving predominantly low-income members can
benefit from certain statutory relief and receive assistance from the
Community Development Revolving Loan Fund. To utilize this authority, a
credit union must receive a low-income designation from NCUA as defined
in NCUA's regulations at 12 CFR 701.34. NCUA uses the information from
credit unions to determine whether they meet the criteria for the low-
income designation.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated No. of Respondents: 287.
Estimated No. of Responses per Respondent: 1.
Estimated Total Annual Responses: 287.
Estimated Burden Hours per Response: 1.
Estimated Total Annual Burden Hours: 443.
Reason for Change: The Office of Management and Budget (OMB)
approved a procedural change for credit unions, in qualifying for low-
income designation status, to include military personnel in the low-
income designation calculation. The revision to the information
collection requirements was approved as an emergency in accordance with
5 CFR 1320.13 and is set to expire November 30, 2020. This revision
gave more credit unions access to congressionally appropriated COVID-19
stimulus and loan programs
Request for Comments: Comments submitted in response to this notice
will be summarized and included in the request for OMB 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 June 5, 2020.
Dated: June 5, 2020.
Mackie I. Malaka,
NCUA PRA Clearance Officer.
[FR Doc. 2020-12568 Filed 6-9-20; 8:45 am]
BILLING CODE 7535-01-P