6586 Federal Register / Vol. 86, No. 13 / Friday, January 22, 2021 / Proposed Rules 

1See 50 FR 53294–01 (Dec. 31, 1985). 

2 58 FR 5663 (Jan. 22, 1993). 

3Public Law 102–550, 106 Stat. 3672, 4059 

(1992). 

4 31 U.S.C. 5318(g)(1). The quoted text is from 

section 1517 of the Annunzio-Wylie Anti-Money 

Laundering Act, which was originally codified at 31 

U.S.C. 5314(g). The text was moved as part of the 

Violent Crime Control and Law Enforcement Act of 

1994. 

seek FinCEN’s determination whether 

the exemption is consistent with the 

purposes of the BSA, if applicable. The 

exemption shall be applicable only as 

expressly stated in the exemption, may 

be conditional or unconditional, may 

apply to particular persons or to classes 

of persons, and may apply to 

transactions or classes of transactions. 

The FDIC will seek FinCEN’s 

concurrence with regard to any 

exemption request that also requires an 

exemption from FinCEN’s SAR 

regulation, and may consult with 

FinCEN regarding other exemption 

requests. The FDIC also may consult 

with the other state and federal banking 

agencies before granting any exemption. 

(4) The FDIC will provide a written 

response to the FDIC-supervised 

institution that submitted the exemption 

request after considering whether the 

exemption is consistent with safe and 

sound banking, consulting with the 

appropriate agencies, and seeking 

concurrence when appropriate. An 

FDIC-supervised institution that has 

received an exemption under paragraph 

(d)(3) of this section may rely on the 

exemption for a period of time to be 

communicated by the FDIC in its 

granting of the exemption, which may 

be indefinite. 

(5) The FDIC may extend the period 

of time or may revoke an exemption 

granted under paragraph (d)(3) of this 

section. Exemptions may be revoked at 

the sole discretion of the FDIC. The 

FDIC will provide written notice to the 

FDIC-supervised institution of the 

FDIC’s intention to revoke an 

exemption. The notice will include the 

basis for the revocation and will provide 

an opportunity for the FDIC-supervised 

institution to submit a response to the 

FDIC. The FDIC will consider the 

response prior to deciding whether or 

not to revoke an exemption, and will 

notify the FDIC-supervised institution of 

the FDIC’s final decision to revoke an 

exemption in writing. 

* * * * * 

Federal Deposit Insurance Corporation. 

By order of the Board of Directors. 

Dated at Washington, DC, on December 15, 

2020. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2021–00037 Filed 1–21–21; 8:45 am] 

BILLING CODE 6714–01–P 

NATIONAL CREDIT UNION 

ADMINISTRATION 

12 CFR Part 748 

RIN 3133–AF25 

Bank Secrecy Act 

AGENCY: National Credit Union 

Administration (NCUA). 

ACTION: Proposed rule. 

SUMMARY: The NCUA Board (Board) is 

inviting comment on a proposed rule 

that would modify the requirements for 

federally insured credit unions (FICUs) 

to file Suspicious Activity Reports 

(SARs). The proposed rule would 

amend the NCUA’s SARs regulation to 

allow the Board to issue exemptions 

from the requirements of that regulation 

in order to grant relief to FICUs that 

develop innovative solutions to meet 

the requirements of the Bank Secrecy 

Act (BSA). 

DATES: Comments must be received by 

February 22, 2021. 

ADDRESSES: You may submit written 

comments, identified by RIN 3133– 

AF25, by any of the following methods 

(Please send comments by one method 

only): 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Fax: (703) 518–6319. Include 

‘‘[Your Name]—Comments on Proposed 

Rule: Bank Secrecy Act’’ in the 

transmittal. 

• Mail: Address to Melane ConyersAusbrooks, Secretary of the Board, 

National Credit Union Administration, 

1775 Duke Street, Alexandria, Virginia 

22314–3428. 

• Hand Delivery/Courier: Same as 

mail address. 

Public Inspection: You may view all 

public comments on the Federal 

eRulemaking Portal at http://

www.regulations.gov as submitted, 

except for those we cannot post for 

technical reasons. The NCUA will not 

edit or remove any identifying or 

contact information from the public 

comments submitted. Due to social 

distancing measures in effect, the usual 

opportunity to inspect paper copies of 

comments in the NCUA’s law library is 

not currently available. After social 

distancing measures are relaxed, visitors 

may make an appointment to review 

paper copies by calling (703) 518–6540 

or emailing OGCMail@ncua.gov. 

FOR FURTHER INFORMATION CONTACT: 

Policy and Analysis: Timothy Segerson, 

Deputy Director, Office of Examination 

and Insurance, (703) 518–6397; 

Legal:Justin Anderson, Senior Staff 

Attorney, Damon P. Frank, Staff 

Attorney, and Chrisanthy J. Loizos, 

Senior Staff Attorney, Office of General 

Counsel, (703) 518–6540; or by mail at 

National Credit Union Administration, 

1775 Duke Street, Alexandria, VA 

22314. 

SUPPLEMENTARY INFORMATION: 

I. Introduction 

Requirements related to SARs are 

codified in 12 CFR 748.1(c). This 

section of the NCUA’s regulations 

requires FICUs to file SARs under 

certain conditions. In addition, this 

section provides for: (i) Board of 

director or other committee notification; 

(ii) filing exceptions; (iii) SAR 

confidentiality; (iv) recordkeeping 

requirements; (v) supporting 

documentation requirements; and (vi) 

limitations on liability. The proposed 

rule would allow the NCUA to issue 

exemptions from the regulation’s SAR 

requirements. 

II. Background 

The NCUA’s original SARs regulation 

required FICUs to report potential 

violations of law arising from 

transactions that flow through those 

institutions.1 As discussed in more 

detail later in this document, this 

regulation has been amended and 

updated since its inception. The 

NCUA’s purpose for the regulation has, 

however, remained unchanged because 

fraud, abusive insider transactions, 

check-kiting schemes, money 

laundering, and other financial crimes 

can pose serious threats to a financial 

institution’s continued viability and, if 

unchecked, can undermine the public 

confidence in the nation’s financial 

services industry generally.2

In 1992, Congress passed the 

Annunzio-Wylie Anti-Money 

Laundering Act (the Anti-Money 

Laundering Act), which redesigned the 

criminal referral process applicable to 

credit unions and made the reporting of 

certain suspicious transactions a 

requirement of the BSA.3 The AntiMoney Laundering Act permitted the 

Department of the Treasury to require 

financial institutions, including credit 

unions, to ‘‘report any suspicious 

transaction relevant to a possible 

violation of law or regulation.’’ 4


jbell on DSKJLSW7X2PROD with PROPOSALS
Federal Register / Vol. 86, No. 13 / Friday, January 22, 2021 / Proposed Rules 6587 

5For purposes of this rulemaking, the other 

federal banking agencies are defined as the Board 

of Governors of the Federal Reserve (FRB), the 

Federal Deposit Insurance Corporation (FDIC), and 

the Office of the Comptroller of the Currency (OCC). 

6 61 FR 4326 (Feb. 5, 1996) (FinCEN). The 

NCUA’s current regulation is codified at 12 CFR 

748.1(c)(1)(iv)(B). It should be noted that prior to 

the adoption of FinCEN’s SAR regulation in 1996 

and the accompanying revisions to the NCUA’s 

regulation, the NCUA’s criminal referral regulation 

did not have a specific provision that required the 

reporting of money laundering transactions. 

However, the required criminal referral form 

broadly encompassed money laundering and 

structuring transactions. 

7 61 FR 11526 (Mar. 21, 1996) (NCUA); 61 FR 

4326 (Feb. 5, 1996) (FinCEN). 

8 12 CFR 748.1(c)(1)(iv)(B) (NCUA); 31 CFR 

1020.320(a)(2) (FinCEN). 

9 12 CFR 748.1(c)(5) (NCUA); 31 CFR 

1020.320(e)(1) (FinCEN). 

10 12 CFR 748.1(c) (NCUA); 12 CFR 208.62 (FRB); 

12 CFR 390.355 (FDIC); 12 CFR 21.11, 163.80 

(OCC). 

11See 31 U.S.C. 5318(a)(7), with implementing 

regulations at 31 CFR 1010.970. 

12Treas. Order 180–01, (re-affirmed Jan. 14, 

2020). 

13 Joint Statement on Innovative Efforts to Combat 

Money Laundering and Terrorist Financing (Dec. 3, 

2018), available at https://www.ncua.gov/ 

newsroom/press-release/2018/agencies-issue-jointstatement-encourage-innovative-approachesbsaaml-compliance. 

Thereafter, the Department of the 

Treasury, in consultation with the 

NCUA, the other federal banking 

agencies,5 and law enforcement 

developed the modern SAR form and 

reporting process, which standardized 

the reporting forms and created a 

centralized database that could be 

accessed by multiple law enforcement 

and regulatory agencies. 

To implement this new reporting 

system, in 1996, the Financial Crimes 

Enforcement Network of the Department 

of the Treasury (FinCEN) issued its 

implementing SAR regulations for 

financial institutions subject to the 

requirements of the BSA to, among 

other things, specifically address the 

reporting of money laundering 

transactions and transactions designed 

to evade the reporting requirements of 

the BSA.6 To further implement this 

new reporting process and reduce 

unnecessary reporting burdens, the 

NCUA and the other federal banking 

agencies contemporaneously amended 

their criminal referral form regulations 

to incorporate the new SAR form and 

reporting database, align their regulatory 

reporting requirements with FinCEN’s 

BSA reporting requirements, and further 

refine the reporting processes.7

As a result of this redesign and 

FinCEN’s implementing regulations, 

FICUs are currently required to file 

SARs under both NCUA and FinCEN 

regulations. These regulations are not 

identical but are substantially similar 

with regard to the specified BSA 

reporting obligations required by 

FinCEN. Both the NCUA’s and FinCEN’s 

SAR regulations, among other things, 

require FICUs to file SARs relating to 

money laundering and transactions that 

are designed to evade the reporting 

requirements of the BSA 8 Furthermore, 

with respect to the SAR confidentiality 

requirements in the BSA, both the 

NCUA’s and FinCEN’s SAR regulations 

require FICUs to maintain the 

confidentiality of a SAR, and any 

information that would reveal the 

existence of the SAR, outside of certain 

circumstances.9

However, the NCUA’s and the other 

federal banking agencies’ regulations 

cover a slightly broader range of 

transactions (e.g., insider abuse at any 

dollar amount).10

The NCUA and FinCEN SAR 

regulations also provide: (i) That SARs 

are not required for a robbery or 

burglary committed or attempted that is 

reported to appropriate law enforcement 

authorities; (ii) that SARs are 

confidential and shall not be disclosed 

except as authorized; (iii) recordkeeping 

requirements for SARs and supporting 

documentation; (iv) that supporting 

documentation shall be deemed to have 

been filed with the SAR; and (v) that 

supporting documentation shall be 

made available to appropriate law 

enforcement agencies upon request. The 

NCUA and FinCEN SAR regulations 

also provide a safe harbor from liability 

to any FICU and any of its officials, 

employees, or agents that make a 

voluntary disclosure of any possible 

violation of law or regulation to a 

government agency or file a SAR 

pursuant to the regulations or any other 

authority. The NCUA’s regulation also 

contains a provision requiring that 

FICUs promptly notify their board of 

directors or committee designated by 

the board of directors to receive such 

notifications when a SAR has been filed. 

FinCEN has general authority to grant 

exemptions from the requirements of 

the BSA, which includes granting 

exemptions under its SAR reporting 

regulations.11 FinCEN’s regulation 

provides that ‘‘[t]he Secretary [of 

Treasury], in his sole discretion, may by 

written order or authorization make 

exceptions to or grant exemptions from 

the requirements of [the BSA]. Such 

exemptions may be conditional or 

unconditional, may apply to particular 

persons or to classes of persons, and 

may apply to transactions or classes of 

transactions.’’ The Secretary has 

delegated this exemption authority to 

FinCEN.12

As financial technology and 

innovation continue to develop in the 

area of monitoring and reporting 

financial crime and terrorist financing, 

the NCUA will need the express 

regulatory flexibility to grant exemptive 

relief when appropriate in this area on 

a consistent basis. In 2018, the NCUA, 

FinCEN, and the other federal banking 

agencies issued a statement encouraging 

financial institutions to take innovative 

approaches to meet their BSA/antimoney laundering (BSA/AML) 

compliance obligations.13 That 

statement explained that financial 

institutions are encouraged to consider, 

evaluate, and where appropriate, 

responsibly implement innovative 

approaches in this area. Today, 

innovative approaches and 

technological developments in the areas 

of SAR monitoring, investigation and 

filings may involve, among other things: 

(i) Automated form population using 

natural language processing, transaction 

data, and customer due diligence 

information; (ii) automated or limited 

investigation processes depending on 

the complexity and risk of a particular 

transaction and appropriate safeguards; 

and (iii) enhanced monitoring processes 

using more and better data, optical 

scanning, artificial intelligence, or 

machine learning capabilities. Requests 

for exemptive relief pertaining to 

innovation or other matters may 

involve, among other things, expanded 

investigations and SAR timing issues, 

SAR disclosures and sharing, continued 

SAR filings for ongoing activity, SAR 

outsourcing of responsibilities and 

practices, the role of agents of FICUs, 

the use of shared utilities and shared 

data, and the use and sharing of deidentified data. The NCUA expects that 

new technologies will continue to 

prompt additional innovative 

approaches related to SAR filing and 

monitoring. 

It is important to recognize that any 

NCUA-issued exemptions from its SAR 

regulation would not relieve the FICU 

from independent obligation to comply 

with FinCEN’s SAR regulations, if 

applicable. To the extent an exemption 

request from a FICU involves both the 

NCUA’s SAR regulation and FinCEN’s 

SAR regulation, the FICU would need 

an exemption from both the NCUA and 

FinCEN. The NCUA expects to 

coordinate with FinCEN when handling 

parallel exemptions. As explained 

above, however, the NCUA’s SAR 

regulation imposes additional 

requirements not included in FinCEN’s 

SAR regulation. To the extent an 

exemption request is subject to a 

requirement imposed by the NCUA’s 

SAR regulation alone (and not a parallel 


jbell on DSKJLSW7X2PROD with PROPOSALS
6588 Federal Register / Vol. 86, No. 13 / Friday, January 22, 2021 / Proposed Rules 

14See NCUA Interpretive Ruling and Policy 

Statement (IRPS) 87–2, as amended by IRPS 03–2 

and IRPS 15–1. 80 FR 57512 (Sept. 24, 2015), 

available at https://www.ncua.gov/files/ 

publications/irps/IRPS1987-2.pdf. 

15See NCUA Interpretive Ruling and Policy 

Statement 87–2, as amended by IRPS 03–2 and IRPS 

15–1, 80 FR 57512 (Sept. 24, 2015). 

FinCEN requirement), the proposed rule 

would allow the NCUA to exempt a 

FICU from that requirement. 

III. The Proposal 

This proposed rule would allow the 

NCUA to issue exemptions from the 

requirements of its SAR regulation. 

Specifically, the proposed rule would 

add a provision to 12 CFR 748.1 that 

would provide that the NCUA may 

exempt a FICU from the requirements of 

that section. Under the proposed rule, 

the NCUA would determine whether the 

exemption is consistent with the 

purposes of the BSA, if applicable, and 

with safe and sound practices, and may 

consider other appropriate factors. The 

NCUA would also seek FinCEN’s 

determination on whether the 

exemption would be consistent with the 

purposes of the BSA. The exemptions 

may be conditional or unconditional, 

may apply to particular persons or to 

classes of persons, and may apply to 

transactions or classes of transactions. 

In addition, this proposal would 

require the NCUA to seek FinCEN’s 

concurrence regarding any exemption 

requests that involve an exemption from 

the requirement to file a SAR required 

by FinCEN regulations implementing 

the BSA. The proposal would also 

permit the NCUA to consult with 

FinCEN regarding other exemption 

requests. The NCUA may also consult 

with the other state and federal banking 

agencies before granting any exemption. 

Finally, the proposed rule provides 

that the NCUA may grant an exemption 

for a specified time period. Under the 

proposed rule, the NCUA could also 

revoke previously granted exemptions if 

circumstances change related to the 

factors set out above (consistency with 

the BSA and safety and soundness) or 

any imposed conditions. 

If the NCUA adopts this proposed rule 

and uses it to grant exemptions, such 

exemptions would not relieve a FICU 

from the obligation to comply with 

FinCEN’s SAR regulation, if applicable. 

To the extent a FICU is subject to 

requirements imposed by both the 

NCUA’s SAR regulation and FinCEN’s 

SAR regulation, the FICU would need to 

seek an exemption from both the NCUA 

and FinCEN. As explained above, 

however, the NCUA’s SAR regulation 

imposes additional requirements not 

included in FinCEN’s regulation. To the 

extent a FICU is subject to a requirement 

imposed by the NCUA’s SAR regulation 

alone (and not a parallel FinCEN 

requirement), the proposed rule would 

allow the NCUA to exempt a FICU from 

that requirement. 

The Board is providing for a 30-day 

comment period instead of a 60-day 

comment period because the proposed 

rule is limited in scope, and the Board 

believes that 30 days will provide the 

public adequate time to review and 

comment on it.14

The Board invites comments on the 

proposed rule, including whether any 

additional detail relating to the 

procedures that would be followed in 

considering, granting or revoking 

exemptions is necessary. The Board is 

also specifically requesting comments 

on whether additional or different 

factors or standards should be applied 

in the determination whether to grant an 

exemption request, as well as the form 

and manner of the Board’s response to 

an exemption request. 

IV. Regulatory Procedures 

Regulatory Flexibility Act 

The Regulatory Flexibility Act (RFA) 

generally requires that, in connection 

with a notice of proposed rulemaking, 

an agency prepare and make available 

for public comment an initial regulatory 

flexibility analysis that describes the 

impact of a proposed rule on small 

entities (defined for purposes of the 

RFA to include credit unions with 

assets less than $100 million).15 A 

regulatory flexibility analysis is not 

required, however, if the agency 

certifies that the rule will not have a 

significant economic impact on a 

substantial number of small entities and 

publishes its certification and a short, 

explanatory statement in the Federal 

Register together with the rule. 

The proposed rule would allow FICUs 

to request exemptions from certain 

regulatory requirements if they choose 

to do so. As a result, it would not cause 

any increased burden or impose any 

new requirements on FICUs. 

Accordingly, the NCUA certifies that the 

proposed rule would not have a 

significant economic impact on a 

substantial number of small credit 

unions. 

Paperwork Reduction Act 

The Paperwork Reduction Act of 1995 

(PRA) applies to information collection 

requirements in which an agency 

creates a new paperwork burden on 

regulated entities or modifies an 

existing burden. For purposes of the 

PRA, a paperwork burden may take the 

form of a reporting, recordkeeping, or 

third-party disclosure requirement, each 

referred to as an information collection. 

The NCUA may not conduct or sponsor, 

and the respondent is not required to 

respond to, an information collection 

unless it displays a currently valid 

Office of Management and Budget 

(OMB) control number. 

This proposed rule adds a provision 

to § 748.1(c) that would allow FICUs to 

submit a written request to NCUA if it 

wishes to seek an exemption from the 

requirements of this section. There are 

2,932 FICUs that currently file SARs 

annually. It is estimated that 50 of these 

FICUs would file for an exemption 

under the proposed new § 748.1(c)(7); 

taking 2 hours per response, for a total 

increase of 100 burden hours. This 

proposed rule would revise the 

information collection requirement 

currently approved under OMB number 

3133–0094, as follows: 

Title of Information Collection: 

Suspicious Activity Report by 

Depository Institutions. 

OMB Control Number: 3133–0094. 

Estimated Number of Respondents: 

2,932. 

Estimated Annual Frequency of 

Response: 65. 

Estimated Total Annual Reponses: 

191,069. 

Estimated Hours per Response: 1. 

Estimated Total Annual Burden 

Hours: 191,119. 

Affected Public: Private Sector: Notfor-profit institutions. 

The NCUA invites comments on: (a) 

Whether the collections of information 

are necessary for the proper 

performance of the agencies’ functions, 

including whether the information has 

practical utility; (b) the accuracy of the 

estimates of the burden of the 

information collections, including the 

validity of the methodology and 

assumptions used; (c) ways to enhance 

the quality, utility, and clarity of the 

information to be collected; (d) ways to 

minimize the burden of the information 

collections on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

All comments are a matter of public 

record. Due to the limited in-house staff, 

email comments are preferred. 

Comments regarding the information 

collection requirements of this rule 

should be (1) emailed to: 

PRAcomments@ncua.gov with ‘‘OMB 

No. 3133–0094’’ in the subject line; 

faxed to 703–837–2406, or mailed to 

Mackie Malaka, NCUA PRA Clearance 

Officer, National Credit Union 

Administration, 1775 Duke Street, Suite 


jbell on DSKJLSW7X2PROD with PROPOSALS
Federal Register / Vol. 86, No. 13 / Friday, January 22, 2021 / Proposed Rules 6589 

5080, Alexandria, Virginia 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 

Review—Open 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 

state and local interests. In adherence to 

fundamental federalism principles, the 

NCUA, an independent regulatory 

agency as defined in 44 U.S.C. 3502(5), 

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 105–277, 112 Stat. 2681 

(1998). 

List of Subjects in 12 CFR Part 748 

Security program, report of suspected 

crimes, suspicious transactions, 

catastrophic acts and Bank Secrecy Act 

compliance. 

By the National Credit Union 

Administration Board on December 17, 2020. 

Melane Conyers-Ausbrooks, 

Secretary of the Board. 

For the reasons discussed in the 

preamble, the Board proposes to amend 

12 CFR part 748, as follows: 

PART 748—SECURITY PROGRAM, 

REPORT OF SUSPECTED CRIMES, 

SUSPICIOUS TRANSACTIONS, 

CATASTROPHIC ACTS AND BANK 

SECRECY ACT COMPLIANCE 

■ 1. The authority citation for part 748 

continues to read as follows: 

Authority: 12 U.S.C. 1766(a), 1786(q); 15 

U.S.C. 6801–6809; 31 U.S.C. 5311 and 5318. 

■ 2. Amend § 748.1 by adding new 

paragraph (c)(7) to read as follows: 

§ 748.1 Filing of reports. 

* * * * * 

(c) Suspicious Activity Report. * * * 

(7) Exemptions. 

(i) The NCUA may exempt any 

federally insured credit union from the 

requirements of paragraph (c) of this 

section. Upon receiving a written 

request from a federally insured credit 

union, the NCUA will determine 

whether the exemption is consistent 

with safe and sound practices, and may 

consider other appropriate factors. The 

NCUA will also seek FinCEN’s 

determination whether the exemption is 

consistent with the purposes of the 

BSA, if applicable. The exemption shall 

be applicable only as expressly stated in 

the exemption, may be conditional or 

unconditional, may apply to particular 

persons or to classes of persons, and 

may apply to transactions or classes of 

transactions. The NCUA will seek 

FinCEN’s concurrence with regard to 

any exemption request that would also 

require an exemption from the 

requirements of FinCEN’s SAR 

regulations, and may consult with 

FinCEN regarding other exemption 

requests. The NCUA also may consult 

with the other state and federal banking 

agencies and consider comments before 

granting any exemption. 

(ii) The NCUA will provide a written 

response to the federally insured credit 

union that submitted the exemption 

request after considering whether the 

exemption is consistent with safe and 

sound banking, consulting with the 

appropriate agencies, and seeking 

concurrence when appropriate. A 

federally insured credit union that has 

received an exemption under paragraph 

(i) of this section may rely on the 

exemption for a period of time to be 

communicated by the NCUA in its 

granting of the exemption, which may 

indefinite. The NCUA may extend the 

period of time or may revoke an 

exemption granted under paragraph (i) 

of this section. Exemptions may be 

revoked at the sole discretion of the 

NCUA. The NCUA will provide written 

notice to the federally insured credit 

union of the NCUA’s intention to revoke 

an exemption. Such notice will include 

the basis for the revocation and will 

provide an opportunity for the federally 

insured credit union to submit a 

response to the NCUA. The NCUA will 

consider the credit union’s response 

prior to deciding whether to revoke an 

exemption and will notify the federally 

insured credit union of the NCUA’s 

decision to revoke an exemption in 

writing. 

[FR Doc. 2021–00048 Filed 1–21–21; 8:45 am] 

BILLING CODE 7535–01–P 

ENVIRONMENTAL PROTECTION 

AGENCY 

40 CFR Part 52 

[EPA–R04–OAR–2020–0102; FRL–10018– 

62–Region 4] 

Air Plan Approval; KY; Gasoline 

Loading Facilities at Existing Bulk 

Terminals and New Bulk Plants 

AGENCY: Environmental Protection 

Agency (EPA). 

ACTION: Proposed rule. 

SUMMARY: The Environmental Protection 

Agency (EPA) is proposing to approve 

revisions to the Jefferson County portion 

of the Kentucky State Implementation 

Plan (SIP), submitted by the 

Commonwealth of Kentucky, through 

the Energy and Environment Cabinet 

(Cabinet) on September 5, 2019. The 

revisions were submitted by the Cabinet 

on behalf of the Louisville Metro Air 

Pollution Control District (District) and 

include amendments related to the 

standards for existing gasoline loading 

facilities at bulk terminals and new 

gasoline loading facilities at bulk plants. 

The amendments to these standards 

replace a requirement for gasoline tank 

trucks to possess a valid Kentucky 

pressure vacuum test sticker with a 

requirement for specific vapor tightness 

testing and recordkeeping procedures, 

clarify rule applicability, and remove 

language stating that a pressure 

measuring device will be supplied by 

the District. EPA is proposing to 

approve the revisions because they are 

consistent with the Clean Air Act (CAA 

or Act). 

DATES: Comments must be received on 

or before February 22, 2021. 

ADDRESSES: Submit your comments, 

identified by Docket ID No. EPA–R04– 

OAR–2020–0102 at 

www.regulations.gov. Follow the online 

instructions for submitting comments. 

Once submitted, comments cannot be 

edited or removed from Regulations.gov. 

EPA may publish any comment received 

to its public docket. Do not submit 

electronically any information you 

consider to be Confidential Business 

Information (CBI) or other information 

whose disclosure is restricted by statute. 

Multimedia submissions (audio, video, 

etc.) must be accompanied by a written 

comment. The written comment is 

considered the official comment and 

should include discussion of all points 

you wish to make. EPA will generally 

not consider comments or comment 

contents located outside of the primary 

submission (i.e., on the web, cloud, or 

other file sharing system). For 

additional submission methods, the full 


jbell on DSKJLSW7X2PROD with PROPOSALS