View Information Collection Request (ICR) Package
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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:
3133-0149
ICR Reference No:
201510-3133-001
Status:
Historical Active
Previous ICR Reference No:
201311-3133-008
Agency/Subagency:
NCUA
Agency Tracking No:
Title:
12 C.F.R. Part 712, Credit Union Service Organizations (CUSOs)
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
12/11/2015
Retrieve Notice of Action (NOA)
Date Received in OIRA:
10/13/2015
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2018
36 Months From Approved
02/28/2017
Responses
4,116
0
281
Time Burden (Hours)
11,559
0
562
Cost Burden (Dollars)
76,177
0
0
Abstract:
Part 712 of NCUA's rules and regulations regulates the relationship between federally insured credit unions (FICUs) and credit union service organizations (CUSOs). The rule requires that FICUs enter into a written agreement with a CUSO (prior to investing in or loaning money to) which stipulates the CUSO will: follow GAAP, prepare quarterly financial statements, grant NCUA access to the CUSO books/records and submit data to NCUA via a new CUSO registry.
Authorizing Statute(s):
US Code:
12 USC 1751
Name of Law: Federal Credit Union 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:
80 FR 38475
07/06/2015
30-day Notice:
Federal Register Citation:
Citation Date:
80 FR 58314
09/28/2015
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
6
IC Title
Form No.
Form Name
1a. FISCUs Changing the Written Agreement Relating to Certain Accounting and Reporting Requirements
1b. FCUs Changing the Written Agreement Relating to Certain Reporting Requirements
2. Obtaining Written Legal Opinion
3. Obtaining Regulatory Approval
4a. CUSO Reporting to NCUA - Basic Information
4b. CUSO Reporting to NCUA - Expanded Information
Written Agreement Relating to Accounting and Access to Information
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
4,116
281
0
3,968
-133
0
Annual Time Burden (Hours)
11,559
562
0
11,263
-266
0
Annual Cost Burden (Dollars)
76,177
0
0
76,177
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
Changes in burden since last submission are detailed by IC. IC 1a: Increase due to extension of recordkeeping burden to all FISCUs with loan or investment in a CUSO. IC 1b: Increase due to change in recordkeeping burden from an annual average number of FCUs to all FCUs with a loan to, or investment in, a CUSO. IC 2.: Unchanged. IC 3.: Reduction in burden due to change in estimated number of respondents. IC 4a: New collection item. IC 4b: New collection item. In addition, upon successful completion of the CUSO Registry System, NCUA will reduce the FICU reporting requirement under the 5300 Call Report and CU Online Profile (3133-0004) as detailed in the supporting statement.
Annual Cost to Federal Government:
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:
Todd Roscoe 703 518-1571 troscoe@ncua.gov
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:
10/13/2015
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