Federal Register / Vol. 75, No. 86 / Wednesday, May 5, 2010 / Proposed Rules 24501 

The proposed rule will not have a 

significant economic impact on a 

substantial number of small credit 

unions, and, therefore, a regulatory 

flexibility analysis is not required. 

Paperwork Reduction Act 

This rule adds a requirement that 

federal credit unions establish a cap on 

short-term, small-dollar loans in their 

general written lending policies, which 

federal credit unions are already 

required to maintain and is currently 

approved under the Paperwork 

Reduction Act control number 3133– 

0139. NCUA has determined that the 

requirements of this rule are additions 

to an FCU’s customary business records 

and do not increase the paperwork 

requirements under the Paperwork 

Reduction Act of 1995 and regulations 

of the Office of Management and 

Budget. 

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, 

NCUA, an independent regulatory 

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

voluntarily complies with the executive 

order. The proposed rule would not 

have substantial direct effects 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. NCUA has 

determined that this proposed rule does 

not constitute a policy that has 

federalism implications for purposes of 

the executive order. 

The Treasury and General Government 

Appropriations Act, 1999—Assessment 

of Federal Regulations and Policies on 

Families 

NCUA has determined that this 

proposed rule would 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 701 

Credit unions, Federal credit unions. 

Mary Rupp, 

Secretary of the Board. 

For the reasons discussed above, the 

National Credit Union Administration 

proposes to amend 12 CFR part 701 as 

set forth below: 

PART 701—ORGANIZATION AND 

OPERATIONS OF FEDERAL CREDIT 

UNIONS 

1. The authority citation for part 701 

continues to read as follows: 

Authority: 12 U.S.C. 1752(5), 1755, 1756, 

1757, 1759, 1761a, 1761b, 766, 1767, 1782, 

1784, 1787, 1789. Section 701.6 is also 

authorized by 15 U.S.C. 3717. Section 701.31 

is also authorized by 15 U.S.C. 1601 et seq.; 

42 U.S.C. 1981 and 3601–3610. Section 

701.35 is also authorized by 42 U.S.C. 4311– 

4312. 

In section 701.21, add paragraph 

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

§ 701.21 Loans to members and lines of 

credit to members. 

* * * * * 

(c) * * * 

(7) * * * 

(iii) Short-term, small amount Loans 

(STS loans). (A) Notwithstanding the 

provisions in § 701.21(c)(7)(ii), a federal 

credit union may charge an interest rate 

of 1000 basis points above the 

maximum interest rate as established by 

the Board, provided the federal credit 

union is making a closed-end loan in 

accordance with the following 

conditions: 

(1) The principal of the loan is not 

less than $200 or more than $1000; 

(2) The loan has a minimum maturity 

term of one month and a maximum 

maturity term of six months; 

(3) The federal credit union does not 

make more than three, STS loans in any 

rolling six-month period to any one 

borrower and makes no more than one, 

short-term, small amount loan at a time 

to a borrower; 

(4) The federal credit union must not 

roll-over any STS loan; 

(5) The federal credit union charges 

an application fee to all members 

applying for a new loan that reflects the 

actual costs associated with processing 

the application, but in no case may the 

application fee exceed $20; and 

(6) The federal credit union includes, 

in its written lending policies, a limit on 

the aggregate number of loans and 

aggregate dollar amount of loans made 

under this section and implements 

appropriate underwriting guidelines to 

minimize risk; for example, requiring a 

borrower to verify employment by 

producing at least two recent pay stubs. 

(B) STS Loan Program Guidance and 

Best Practices. In developing a 

successful STS loan program, a federal 

credit union should consider how the 

program will help benefit a member’s 

financial well-being while considering 

the higher degree of risk associated with 

this type of lending. The guidance and 

best practices are intended to help 

federal credit unions minimize risk and 

develop a successful program, but are 

not an exhaustive checklist and do not 

guarantee a successful program with a 

low degree of risk. 

(1) Program Features. Several features 

that may increase the success of an STS 

loan program and enhance member 

benefit include adding a savings 

component, financial education, 

reporting of members’ payment of STS 

loans to credit bureaus, or electronic 

loan transactions as part of an STS 

program. 

(2) Underwriting. Federal credit 

unions need to develop minimum 

underwriting standards that account for 

a member’s need for quickly available 

funds, while adhering to principles of 

responsible lending. Underwriting 

standards should address required 

documentation for proof of employment 

or income, including at least two recent 

paycheck stubs. FCUs should be able to 

use a borrower’s proof of recurring 

income as the key criterion in 

developing standards for maturity 

lengths and loan amounts so a borrower 

can repay the loan without roll-overs. 

For members with established accounts, 

FCUs should only need to review a 

member’s account records and proof of 

recurring income or employment. 

(3) Risk Avoidance. Federal credit 

unions need to consider risk avoidance 

strategies, including: Imposing a length 

of membership requirement, requiring 

members to participate in a payroll 

deduct program or direct deposit, and 

conducting a thorough evaluation of the 

federal credit unions resources and 

ability to engage in an STS loan 

program. 

* * * * * 

[FR Doc. 2010–10480 Filed 5–4–10; 8:45 am] 

BILLING CODE 7535–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 27 

[Docket No. FAA–2009–0413; Notice No. 10– 

04] 

RIN 2120–AJ51 

Fatigue Tolerance Evaluation of 

Metallic Structures; Extension of 

Comment Period 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of proposed rulemaking 

(NPRM); extension of comment period. 

SUMMARY: This action extends the 

comment period for a NPRM that was 


erowe on DSK5CLS3C1PROD with PROPOSALS-1
24502 Federal Register / Vol. 75, No. 86 / Wednesday, May 5, 2010 / Proposed Rules 

published on March 12, 2010. In that 

document, the FAA proposed to amend 

the airworthiness standards for fatigue 

tolerance evaluation (FTE) of transport 

category metallic rotorcraft structures. 

This notice responds to a request from 

the European Aviation Safety Agency 

(EASA) to extend the comment period 

to the proposal. 

DATES: The comment period for the 

NPRM published on March 12, 2010 (75 

FR 11799) which was scheduled to close 

on June 10, 2010, is extended until July 

30, 2010. 

ADDRESSES: You may send comments 

identified by Docket Number FAA– 

2009–0413 using any of the following 

methods: 

• Federal eRulemaking Portal: Go to 

http://www.regulations.gov and follow 

the instructions for sending your 

comments electronically. 

• Mail: Send comments to Docket 

Operations, M–30, U.S. Department of 

Transportation, 1200 New Jersey 

Avenue, SE., Room W12–140, West 

Building Ground Floor, Washington, DC 

20590–0001. 

• Fax: Fax comments to Docket 

Operations at 202–493–2251. 

• Hand Delivery or Courier: Deliver 

comments to Docket Operations in 

Room W12–140 of the West Building 

Ground Floor at 1200 New Jersey 

Avenue, SE, Washington, DC, between 9 

a.m. and 5 p.m., Monday through 

Friday, except Federal holidays. 

For more information on the 

rulemaking process, see the 

SUPPLEMENTARY INFORMATION section of 

this document. 

Privacy: We will post all comments 

we receive, without change, to http:// 

www.regulations.gov, including any 

personal information you provide. 

Using the search function of our docket 

web site, anyone can find and read the 

comments received into any of our 

dockets, including the name of the 

individual sending the comment (or 

signing the comment for an association, 

business, labor union, etc.). You may 

review DOT’s complete Privacy Act 

Statement in the Federal Register 

published on April 11, 2000 (65 FR 

19477–78) or you may visit http:// 

DocketsInfo.dot.gov. 

Docket: To read background 

documents or comments received, go to 

http://www.regulations.gov at any time 

or to Docket Operations in Room W12– 

140 of the West Building Ground Floor 

at 1200 New Jersey Avenue, SE., 

Washington, DC, between 9 a.m. and 5 

p.m., Monday through Friday, except 

Federal holidays. 

FOR FURTHER INFORMATION CONTACT: 

Minh-Hai Tran-Lam, ARM–207, Office 

of Rulemaking, Federal Aviation 

Administration, 800 Independence 

Avenue, SW., Washington, DC 20591, 

telephone (202) 493–4963. 

SUPPLEMENTARY INFORMATION: 

Comments Invited 

The FAA invites interested persons to 

participate in this rulemaking by 

submitting written comments, data, or 

views. We also invite comments relating 

to the economic, environmental, energy, 

or federalism impacts that might result 

from adopting the proposals in this 

document. The most helpful comments 

reference a specific portion of the 

proposal, explain the reason for any 

recommended change, and include 

supporting data. To ensure the docket 

does not contain duplicate comments, 

please send only one copy of written 

comments, or if you are filing comments 

electronically, please submit your 

comments only one time. 

We will file in the docket all 

comments we receive, as well as a 

report summarizing each substantive 

public contact with FAA personnel 

concerning this proposed rulemaking. 

Before acting on this proposal, we will 

consider all comments we receive on or 

before the closing date for comments. 

We will consider comments filed after 

the comment period has closed if it is 

possible to do so without incurring 

expense or delay. We may change this 

proposal in light of the comments we 

receive. 

Availability of Rulemaking Documents 

You can get an electronic copy using 

the Internet by: 

(1) Searching the Federal 

eRulemaking Portal at http:// 

www.regulations.gov; 

(2) Visiting the Office of 

Rulemaking’s web page at http:// 

www.faa.gov/avr/arm/index.cfm; or 

(3) Accessing the Government 

Printing Office’s web page at http:// 

www.gpoaccess.gov/fr/index.html. 

You can also get a copy by sending a 

request to the Federal Aviation 

Administration, Office of Rulemaking, 

ARM–1, 800 Independence Avenue, 

SW., Washington, DC 20591, or by 

calling (202) 267–9680. Make sure to 

identify the docket number or notice 

number of this rulemaking. 

Background 

On March 7, 2010, the Federal 

Aviation Administration (FAA) 

published Notice No. 10–04, Fatigue 

Tolerance Evaluation of Metallic 

Structures (75 FR 11799, 3/12/2010). 

Comments to that document were to be 

received on or before June 10, 2010. 

By letter dated March 22, 2010, the 

European Aviation Safety Agency 

(EASA) addressed the joint interest in 

this rulemaking objective on the 

international level. EASA will be 

issuing an associated Notice of Proposed 

Amendment (NPA) with anticipated 

close of comment period in the July 

2010 timeframe. EASA stated that in 

order to provide final rules that are 

harmonized as much as possible, it will 

be essential that technical cooperation is 

maintained and that comments arising 

from both the NPRM and NPA processes 

are jointly dispositioned by technical 

experts from each aviation authority. 

EASA requested that the FAA extend 

the comment period for Notice No. 10– 

04 to coincide with their NPA close of 

comment period, to allow the 

rulemaking processes of the FAA and 

EASA to better align and to facilitate 

achieving the objective of common 

international standards. 

Extension of Comment Period 

In accordance with § 11.47(c) of title 

14, Code of Federal Regulations, the 

FAA has reviewed the petition made by 

EASA for extension of the comment 

period to Notice No. 10–04. This 

petitioner has shown a substantive 

interest in the proposed rule and good 

cause for the extension. The FAA has 

determined that extension of the 

comment period is consistent with the 

public interest, and that good cause 

exists for taking this action. 

Accordingly, the comment period for 

Notice No. 10–04 is extended until July 

30, 2010. 

Issued in Washington, DC, on April 30, 

2010. 

Pamela Hamilton-Powell, 

Director, Office of Rulemaking. 

[FR Doc. 2010–10556 Filed 5–4–10; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Parts 27 and 29 

[Docket No. FAA–2009–0660; Notice No. 10– 

09] 

RIN 2120–AJ52 

Damage Tolerance and Fatigue 

Evaluation of Composite Rotorcraft 

Structures; Reopening of Comment 

Period 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of proposed rulemaking 

(NPRM); reopening of comment period. 


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