Quiero saber acerca de...

khammond on DSKJM1Z7X2PROD with PROPOSALS

11650

Federal Register / Vol. 86, No. 37 / Friday, February 26, 2021 / Proposed Rules
the FICU to obtain a written legal opinion prior to investing in a CUSO, as prescribed by 712.4b, and that these CUSO would be categorized a complex and be required to complete the expanded information via the CUSO
Registry 712.3d5. It is estimated that the increase in the number of respondents would increase total burden hours by 690.
OMB Control Number: 31330149.
Title of information collection: Credit Union Service Organizations CUSOs, 12 CFR part 712.
Estimated number of respondents:
1,843.
Estimated number of responses per respondent: 1.
Estimated total annual responses:
1,843.
Estimated burden per response: 1.82.
Estimated total annual burden: 3,356.
The NCUA invites comments on: a Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility;
b the accuracy of the agencys estimate of the burden of the proposed 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 information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology; and e estimates of capital or start-up costs and cost of operation, maintenance, and purchase of services to provide information.
All comments are a matter of public records. Due to the limited in-house staff, email comments are preferred.
Comments regarding the information collection requirements of this rule should be 1 mailed to: PRAcomments@
ncua.gov with OMB No. 31330149 in the subject line; faxed to 703 837
2406, or mailed to Dawn Wolfgang, NCUA PRA Clearance Officer, National Credit Union Administration, 1775
Duke Street, Suite 6032, Alexandria, VA
22314, and to the 2 Office of Information and Regulatory Affairs, Office of Management and Budget, at www.reginfo.gov/public/do/PRAMain.
Select Currently under 30-day ReviewOpen for Public Comments or by using the search function.
Executive Order 13132
Executive Order 13132 encourages independent regulatory agencies to consider the impact of their actions on
VerDate Sep<11>2014

16:16 Feb 25, 2021

Jkt 253001

state and local interests. In adherence to fundamental federalism principles, the NCUA, an independent regulatory agency as defined in 44 U.S.C. 35025, voluntarily complies with the principles of the Executive order. This rulemaking will not have a substantial direct effect on the states, on the connection between the National Government and the states, or on the distribution of power and responsibilities among the various levels of government. The NCUA has determined that this proposal does not constitute a policy that has federalism implications for purposes of the Executive order.
Assessment of Federal Regulations and Policies on Families The NCUA has determined that this proposed rule will not affect family well-being within the meaning of section 654 of the Treasury and General Government Appropriations Act, 1999, Public Law 105277, 112 Stat. 2681
1998.53
List of Subjects in 12 CFR Part 712
Administrative practices and procedure, Credit, Credit unions, Insurance, Investments, Reporting and recordkeeping requirements.
By the National Credit Union Administration Board on January 14, 2021.
Melane Conyers-Ausbrooks, Secretary of the Board.

For the reasons discussed above, the Board proposes to amend 12 CFR part 712 as follows:
PART 712CREDIT UNION SERVICE
ORGANIZATIONS CUSOs 1. The authority citation for part 712
continues to read as follows:

Authority: 12 U.S.C. 1756, 17575D and 7I, 1766, 1782, 1784, 1785, and 1786.

2. Amend 712.3 by revising paragraphs d5i, d5ii introductory text, and d5iii to read as follows:

712.3 What are the characteristics of and what requirements apply to CUSOs?

d
5
i Credit and lending:
A Loan support services, including servicing; and B Loan origination, including originating, purchasing, selling, and holding any loan as described in 712.5q.
ii Information technology:

53 Public
PO 00000

Law 105277, 112 Stat. 2681 1998.

Frm 00006

Fmt 4702

Sfmt 4702

iii Custody, safekeeping, and investment management services for credit unions.

3. Amend 712.5 as follows:
a. Revise paragraph a introductory text;
b. In paragraph a4, add a semicolon at the end of the paragraph;
c. Revise paragraph b introductory text;
d. In paragraph b11, remove the period and add a semicolon in its place;
e. Remove paragraphs c, d, n, and s;
f. Redesignate paragraphs e through t as paragraphs c through p;
g. Revise newly redesignated paragraphs c introductory text, d introductory text, e introductory text, f introductory text, g introductory text, and h introductory text;
h. In newly redesignated paragraph h3, remove the word and;
i. Revise newly redesignated paragraphs i introductory text, j, k, l, and m introductory text;
j. In newly redesignated paragraph m3, remove the period and add a semicolon in its place;
k. Revise newly redesignated paragraph n;
l. In newly redesignated paragraph o, remove CUSO investments in nonCUSO service providers: and remove the last period and add a semicolon in its place;
m. In newly redesignated paragraph p, remove the period and add a semicolon in its place; and n. Add new paragraphs q and r.
The additions read as follows:
712.5 What activities and services are preapproved for CUSOs?

a Checking and currency services:

b Clerical, professional and management services:

c Electronic transaction services:

d Financial counseling services:

e Fixed asset services:

f Insurance brokerage or agency:

g Leasing:

h Loan support services:

i Record retention, security and disaster recovery services:

j Securities brokerage services;

E:FRFM26FEP1.SGM

26FEP1