Golden Parachute and Indemnification Payments under 12 CFR Part 750

ICR 201412-3133-005

OMB: 3133-0183

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2015-01-15
IC Document Collections
ICR Details
3133-0183 201412-3133-005
Historical Active 201111-3133-001
NCUA
Golden Parachute and Indemnification Payments under 12 CFR Part 750
Reinstatement with change of a previously approved collection   No
Regular
Approved without change 04/09/2015
Retrieve Notice of Action (NOA) 01/23/2015
  Inventory as of this Action Requested Previously Approved
04/30/2018 36 Months From Approved
5 0 0
20 0 0
800 0 0

NCUA is announcing that a proposed collection of information has been submitted to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (PRA) (Public Law 104-13, 44 U.S.C. Chapter 35). The purpose of this notice is to allow for 30 days of public comment. This is related to NCUA's regulation that prohibits, in certain circumstances, a federally insured credit union (FICU) from making golden parachute and indemnification payments to an institution-affiliated party (IAP). The regulation requires requests for a troubled FICU to make a severance or golden parachute payment to an IAP to be submitted in writing to NCUA.

US Code: 12 USC 1786(t) Name of Law: Federal Credit Union Act
  
None

Not associated with rulemaking

  79 FR 65711 11/05/2014
80 FR 3258 01/22/2015
No

1
IC Title Form No. Form Name
Golden Parachute and Indemnification Payments under 12 CFR Part 750

  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 5 0 0 -10 0 15
Annual Time Burden (Hours) 20 0 0 -40 0 60
Annual Cost Burden (Dollars) 800 0 0 -1,600 0 2,400
No
Yes
Miscellaneous Actions
There is a reduction in number of problem FICUs since the original collection in 2011.

$2,400
No
No
No
No
No
Uncollected
Pamela Yu 703 518-6540 [email protected]

  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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
01/23/2015


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