2020-12568. 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.

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 [e-mail]. 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 [phone].

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.