Overdraft and Lending-Related Incentive Pay Plan Policies (12 C.F.R. 701)

Forms and Documents

Document	Type	Status	Availability
FINAL 0139-Justification2013.pdf	Supporting Statement A	Uploaded 2013-11-15	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
32770	Overdraft Policies		Modified
209352	Lending-Related Employee Incentive Pay Plans		New

ICR Details

OMB Control No: 3133-0139	ICR Reference No: 201311-3133-001
Status: Historical Active	Previous ICR Reference No: 200609-3133-003
Agency/Subagency: NCUA	Agency Tracking No:
Title: Overdraft and Lending-Related Incentive Pay Plan Policies (12 C.F.R. 701)
Type of Information Collection: Reinstatement without change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/28/2014
	Date Received in OIRA: 11/15/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2017	36 Months From Approved
Responses	2,300	0	0
Time Burden (Hours)	6,325	0	0
Cost Burden (Dollars)	158,125	0	0

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Abstract: A federal credit union wishing to advance money to members to cover account deficits without having a credit application on file must have a written overdraft policy. A federally insured credit union wishing to pay lending-related incentives to employees must establish written policies.

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Authorizing Statute(s): US Code: 12 USC 1751 Name of Law: Federal Credit Union Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 43234	07/19/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 53170	08/28/2013
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Lending-Related Employee Incentive Pay Plans
Overdraft Policies

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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	2,300	0	0	800	0	1,500
Annual Time Burden (Hours)	6,325	0	0	825	0	5,500
Annual Cost Burden (Dollars)	158,125	0	0	20,575	0	137,550

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: Estimates were based on March 2013 Call Report Data.

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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

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Common Form ICR:  No

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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: 11/15/2013

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