Incentive-Based Compensation Arrangements

Forms and Documents

Document Name	Status
Supporting Statement for NCUA Part 751.docx Supporting Statement A	2016-06-14

IC Document Collections

IC ID	Document Title	Status
221586	One time setup of 751.5 and 751.11 recordkeeping	New
221585	One time setup of 751.4 recordkeeping	New
221584	Recordkeeping and development of policies and procedures for credit unions with more than $50 billion in assets	New
221583	Create and maintain records documenting structure of incentive-based compensation arrangements	New

ICR Details

OMB Control No: 3133-0194	ICR Reference No: 201605-3133-003
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: NCUA	Agency Tracking No: OGC
Title: Incentive-Based Compensation Arrangements
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule	Conclusion Date: 07/28/2016
	Date Received in OIRA: 06/14/2016
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR. The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: 12 CFR 751 will require credit unions with assets of more than $1 billion to develop plans and maintain records related to incentive-based compensation arrangements to demonstrate compliance with the requirements of Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 956 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 956 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3133-AE48	Proposed rulemaking	81 FR 37670	06/10/2016

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
One time setup of 751.5 and 751.11 recordkeeping
Create and maintain records documenting structure of incentive-based compensation arrangements
One time setup of 751.4 recordkeeping
Recordkeeping and development of policies and procedures for credit unions with more than $50 billion in assets

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Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Proposed regulation creates new recordkeeping requirements.

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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]? Yes

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: 06/14/2016

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