Skip to main content
An official website of the United States government
The .gov means it's official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.
The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Search:
Agenda
Reg Review
ICR
This script is used to control the display of information in this page.
Display additional information by clicking on the following:
All
Brief and OIRA conclusion
Abstract/Justification
Legal Statutes
Rulemaking
FR Notices/Comments
IC List
Burden
Misc.
Common Form Info.
Certification
View Information Collection (IC) List
View Supporting Statement and Other Documents
Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3133-0134
ICR Reference No:
201310-3133-013
Status:
Historical Inactive
Previous ICR Reference No:
200511-3133-002
Agency/Subagency:
NCUA
Agency Tracking No:
Title:
Truth in Savings, Disclosure and Recordkeeping Requirements under 12 U.S.C. 4301 et seq. and 12 CFR Part 707
Type of Information Collection:
Reinstatement with change of a previously approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Improperly submitted
Conclusion Date:
10/15/2014
Retrieve Notice of Action (NOA)
Date Received in OIRA:
10/28/2013
Terms of Clearance:
NCUA will resubmit the collection and ensure that the next submission excludes items which are not information collections under the PRA and include any model disclosure as an instrument along with its corresponding burden. NCUA will also include an information collection instrument and burden for those entities it estimates will not use the model disclosures. NCUA will also include, in the information collection instrument, a reference to the specific regulatory provision where the information collection is contained.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
36 Months From Approved
Responses
0
0
0
Time Burden (Hours)
0
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
As required under Truth in Savings Act, credit unions must disclose interest rates, dividends, APRs, bonuses, and fees associated with share accounts and the accompanying services to members and potential members.
Authorizing Statute(s):
US Code:
12 USC 4301
Name of Law: Truth in Savings Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
78 FR 47424
08/05/2013
30-day Notice:
Federal Register Citation:
Citation Date:
78 FR 59378
09/26/2013
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
11
IC Title
Form No.
Form Name
Advertising
Advertising updates
Change-in-term notices
Continuing Training
Initial training and education of staff
Model Form
New account/requested disclosures
Notice to existing accountholders
Periodic Statements
System updates
Term account renewal notices
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
This is a reinstatement of a previously approved collection. In comparison with prior submission and approval, the information collection involves a program change of -2269 respondents. This is due to a change in the number of credit unions. Due to a steady increase in credit union membership over the past five years, however, the disclosure and record keeping burden has increased by an inestimable number of hours.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Moisette Sweat 703 518-1142
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
10/28/2013
An official website of the United States government
The .gov means it's official.
The site is secure.
