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View ICR - OIRA Conclusion

OMB Control No: 3133-0092	ICR Reference No: 202107-3133-002
Status: Historical Active	Previous ICR Reference No: 202011-3133-002
Agency/Subagency: NCUA	Agency Tracking No: E&I Final
Title: Loans to Members and Lines of Credit to Members, 12 CFR 701.21 and Apx. B to 741
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: 10/12/2021
	Date Received in OIRA: 07/12/2021
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2024	36 Months From Approved	06/30/2023
Responses	23,534	0	21,534
Time Burden (Hours)	23,584	0	21,584
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	23,534	21,534	2,000
Annual Time Burden (Hours)	23,584	21,584	2,000
Annual Cost Burden (Dollars)	0	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: No

Burden Reduction Due to:

Short Statement: The NCUA amends Appendix B of Part 741 by removing the prohibition on the capitalization of interest in connection with loan workouts and modifications and to allow FICUs to capitalize unpaid interest when working with borrowers. Currently, all FICUs are required to retain and maintain a written loan policy; of which 500 FICUs are estimated to take four hours annually to retain and maintain enhanced records related to loan workout activity. NCUA anticipates a 50 percent increase in the number of these respondents due to the amendment. This revision would increase the information collection requirements by 2,000 burden hours. A total of 23,584 burden hours requested.

Annual Cost to Federal Government: $59,840

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. 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? Yes

Agency Contact: Alison Clark 703 518-6611 aclark@ncua.gov

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