12 C.F.R. Part 712, Credit Union Service Organizations (CUSO's)

Forms and Documents

Document	Type	Status	Availability
FINAL 0149 PRA - Supporting Statement - 2013.pdf	Supporting Statement A	Uploaded 2013-11-22	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
32793	Written Agreement Relating to Accounting and Access to Information		Modified
209479	Obtaining NCUA Prior Approval		New
209478	Written Legal Opinion		New

ICR Details

OMB Control No: 3133-0149	ICR Reference No: 201311-3133-008
Status: Historical Active	Previous ICR Reference No: 200504-3133-001
Agency/Subagency: NCUA	Agency Tracking No:
Title: 12 C.F.R. Part 712, Credit Union Service Organizations (CUSO's)
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: 02/11/2014
	Date Received in OIRA: 11/22/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2017	36 Months From Approved
Responses	281	0	0
Time Burden (Hours)	562	0	0
Cost Burden (Dollars)	0	0	0

---

Abstract: This rule regulates the relationship between credit unions and their service organizations and helps assure that the relationship is properly established and documented; it also provides NCUA with authority to review books and records of CUSOs to assure that potential risks to the safety and soundness of credit unions are properly managed.

---

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:
	78 FR 47425	08/05/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 59375	09/26/2013
Did the Agency receive public comments on this ICR? Yes

---

Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Written Agreement Relating to Accounting and Access to Information
Written Legal Opinion
Obtaining NCUA Prior Approval

---

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	281	0	0	254	0	27
Annual Time Burden (Hours)	562	0	0	2	0	560
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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 an update of an information collection. The timeframe for credit unions to amend existing agreements with their CUSO is over, thus eliminating the initial burden of the rule as approved in 2008. The information collection requirements now are one-time obligations that help NCUA assure the continued safety and soundness of the industry. The rule also requires certain less than adequately capitalized FCUs to obtain NCUA's prior approval before re-capitalizing an insolvent CUSO.

---

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

---

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: 11/22/2013

---