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contains regulatory documents having general

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are keyed to and codified in the Code of

Federal Regulations, which is published under

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Rules and Regulations Federal Register

16425 

Vol. 77, No. 55 

Wednesday, March 21, 2012 

1The Office of Minority and Women Inclusion 

was required to be established by the Dodd-Frank 

Wall Street Reform and Consumer Protection Act of 

2010. 

NATIONAL CREDIT UNION 

ADMINISTRATION 

12 CFR Parts 701, 760, and 790 

Technical Amendments 

AGENCY: National Credit Union 

Administration (NCUA). 

ACTION: Final rule. 

SUMMARY: The NCUA Board (Board) is 

amending the sections of NCUA’s 

regulations addressing 

nondiscrimination requirements, flood 

insurance and the description of NCUA 

to make minor, nonsubstantive 

technical corrections. The technical 

amendments update the regulations to 

reflect current agency practice and will 

not cause any substantive changes. 

DATES: This rule is effective March 21, 

2012. 

FOR FURTHER INFORMATION CONTACT: 

Lance Noggle, Staff Attorney, Office of 

General Counsel, National Credit Union 

Administration, 1775 Duke Street, 

Alexandria, Virginia 22314–3428 or 

telephone: (703) 518–6555. 

SUPPLEMENTARY INFORMATION: 

I. Background 

II. Regulatory Changes 

III. Regulatory Procedures 

I. Background 

A. Why is NCUA adopting this rule? 

NCUA reviews one-third of its 

regulations each year to ‘‘update, clarify 

and simplify existing regulations and 

eliminate redundant and unnecessary 

provisions.’’ NCUA Interpretive Ruling 

and Policy Statement (IRPS) 87–2, as 

amended by IRPS 03–2, Developing and 

Reviewing Government Regulations. In 

its 2011 review, NCUA determined 

minor revisions to parts 760 and 790 are 

necessary to reflect current agency 

practice. In addition, a similar update to 

part 701 is made. 

B. What changes does this rule make? 

This rule amends parts 701, 760 and 

790 of NCUA’s regulations to make 

minor technical corrections. The 

corrections are necessary to update and 

conform the sections to current agency 

practice. Specifically, section 701.31 is 

updated to reflect that the Board has 

redesignated the Office of Consumer 

Protection to hear discrimination 

complaints under the Fair Housing Act 

and Equal Credit Opportunity Act. The 

Office of Examination and Insurance 

previously was assigned this 

responsibility. The rule amends section 

701.31 to remove references to ‘‘Office 

of Examination and Insurance’’ and to 

replace those references with ‘‘Office of 

Consumer Protection’’. Section 760.6 is 

updated to replace the Federal 

Emergency Management 

Administration’s mailing address with 

its Web site address. Section 790.2 is 

amended to add the Office of Minority 

and Women Inclusion 1 to the list of 

office descriptions; remove the separate 

description of the Office of Capital 

Markets and Planning and incorporate it 

into the description of the Office of 

Examination and Insurance; change the 

title of Director to Chief Financial 

Officer in the description of the Office 

of the Chief Financial Officer; update 

the description of the Regional Offices 

to reflect that other offices are primarily 

involved in chartering and insurance 

issues; and update the contact address 

of Region II. 

II. Regulatory Changes 

This rule provides minor technical 

corrections and will not cause any 

substantive changes. 

III. Regulatory Procedures 

Final Rule Under the Administrative 

Procedure Act 

The Board is issuing this rulemaking 

as a final rule, effective upon 

publication. Generally, the 

Administrative Procedure Act (APA) 

requires a rulemaking to be published as 

a notice of proposed rulemaking with 

the opportunity for public comment, 

unless the agency for good cause finds 

that notice and public comment are 

impracticable, unnecessary, or contrary 

to the public interest. 5 U.S.C. 553. The 

Board believes good cause exists for 

issuing these amendments without 

notice and public comment. The 

amendments in this rule are not 

substantive, but merely technical in that 

they make minor corrections to update 

the regulations and conform them to 

current agency practice. 

Additionally, the APA requires that a 

final rule must have a delayed effective 

date of 30 days from the date of 

publication, except for good cause. 5 

U.S.C. 553(d). The Board also finds good 

cause to waive the customary 30-day 

delayed effective date requirement 

under the APA. 5 U.S.C. 553(d)(3). 

Again, the technical changes conform 

the rules to current agency practice. 

This rule will, therefore, be effective 

immediately upon publication. 

Regulatory Flexibility Act 

The Regulatory Flexibility Act 

requires NCUA to prepare an analysis to 

describe any significant economic 

impact a rule may have on a substantial 

number of small entities (primarily 

those credit unions under ten million 

dollars in assets). This rule does not 

impose any regulatory burden. It merely 

makes non-substantive technical 

changes to parts 701, 760 and 790 of 

NCUA’s regulations. These changes will 

not have a significant economic impact 

on a substantial number of small credit 

unions. Therefore, a regulatory 

flexibility analysis is not required. 

Paperwork Reduction Act 

The Paperwork Reduction Act of 1995 

(PRA) applies to rulemakings in which 

an agency by rule creates a new 

paperwork burden on regulated entities 

or modifies an existing burden. 44 

U.S.C. 3507(d); 5 CFR part 1320. For 

purposes of the PRA, a paperwork 

burden may take the form of either a 

reporting or a recordkeeping 

requirement, both referred to as 

information collections. These technical 

amendments do not impose any new 

paperwork burden. 

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 


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16426 Federal Register / Vol. 77, No. 55 / Wednesday, March 21, 2012 / Rules and Regulations 

order. These changes will not have 

substantial direct effects on the states, 

on the relationship 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 these changes do 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 rule 

will not affect family well-being within 

the meaning of section 654 of the 

Treasury and General Government 

Appropriations Act, 1999, Pub. L. 105– 

277, 112 Stat. 2681 (1998). 

Small Business Regulatory Enforcement 

Fairness Act 

The Small Business Regulatory 

Enforcement Fairness Act of 1996 (Pub. 

L. 104–121) (SBREFA) provides 

generally for congressional review of 

agency rules. A reporting requirement is 

triggered in instances where NCUA 

issues a final rule as defined by Section 

551 of the APA. 5 U.S.C. 551. Based on 

similar technical changes to the NCUA 

regulations, we believe the Office of 

Management and Budget will determine 

that this rule is not a major rule for 

purposes of SBREFA. As required by 

SBREFA, NCUA will file the 

appropriate reports with Congress and 

the General Accounting Office so this 

rule may be reviewed. 

List of Subjects 

12 CFR Part 701 

Advertising, Aged, Civil rights, Credit, 

Credit unions, Fair housing, Individuals 

with disabilities, Marital status 

discrimination, Mortgages, Religious 

discrimination, Sex discrimination, 

Signs and symbols. 

12 CFR Part 760 

Flood insurance. 

12 CFR Part 790 

Organization and functions 

(Government agencies). 

By the National Credit Union 

Administration Board on March 15, 2012. 

Mary Rupp, 

Secretary of the Board. 

For the reasons discussed above, 

NCUA amends 12 CFR parts 701, 760, 

and 790 of title 12, chapter VII, of the 

Code of Federal Regulations as follows: 

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, 1758, 1759, 1761A, 1761B, 1766, 1767, 

1782, 1784, 1786, 1787, 1789, Section 701.6 

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. 

■ 2. Section 701.31 is amended by 

revising the image in paragraph (d)(3). 

§ 701.31 Nondiscrimination requirements. 

* * * * * 

(d) * * * 

(3) * * * 

BILLING CODE 7535–01–P 


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BILLING CODE 7535–01–C 


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* * * * * 

PART 760—LOANS IN AREAS HAVE 

SPECIAL FLOOD HAZARDS 

■ 3. The authority for citation part 760 

continues to read as follows: 

Authority: 12 U.S.C. 1757, 1789; 42 U.S.C 

4012a, 4104, 4104b, 4106, and 4128. 

§ 760.6 [Amended] 

■ 4. Section 760.6 is amended by 

removing from paragraph (a) ‘‘FEMA, 

P.O. Box 2012, Jessup, MD 20794–2012’’ 

and adding in its place ‘‘FEMA’s Web 

site at www.fema.gov’’. 

PART 790—DESCRIPTION OF NCUA; 

REQUEST FOR AGENCY ACTION 

■ 5. The authority citation for part 790 

continues to read as follows: 

Authority: 12 U.S.C. 1766, 1789, 1795f. 

■ 6. In § 790.2: 

■ a. Revise paragraphs (b)(4), (b)(5), and 

(b)(13); 

■ b. Remove from table in paragraph 

(c)(1) the address for Region No. II 

‘‘1775 Duke Street, Suite 4206, 

Alexandria, VA 22314–3437’’ and add 

in its place ‘‘1900 Duke St., Suite 300, 

Alexandria, VA 22314–3498’’; and 

■ c. Revise paragraph (c)(2). 

The revisions read as follows: 

§ 790.2 Central and regional office 

organization. 

* * * * * 

(b) * * * 

(4) Office of Chief Financial Officer. 

NCUA’s Chief Financial Officer is in 

charge of budgetary, accounting and 

financial matters for the NCUA, 

including responsibility for submitting 

annual budget and staffing requests for 

approval by the Board and, as required, 

by the Office of Management and 

Budget; for managing NCUA’s budgetary 

resources; for managing the operations 

of the National Credit Union Share 

Insurance Fund (NCUSIF) to include 

accounting, financial reporting and the 

collection and payment of capitalization 

deposits, insurance premiums and 

insurance dividends; for collecting 

annual operating fees from federal credit 

unions; for maintaining NCUA’s 

accounting system and accounting 

records; for processing payroll, travel, 

and accounts payable disbursements; 

and for preparing internal and external 

financial reports. The Chief Financial 

Officer is also responsible for providing 

NCUA’s executive offices and Regional 

Directors with administrative services, 

including: agency security; contracting 

and procurement; management of 

equipment and supplies; acquisition; 

printing; graphics; and warehousing and 

distribution. 

(5) Office of Examination and 

Insurance. The Director of the Office of 

Examination and Insurance: formulates 

standards and procedures for 

examination and supervision of the 

community of federally insured credit 

unions, and reports to the Board on the 

performance of the examination 

program; manages the risk to the 

NCUSIF, to include overseeing the 

NCUSIF Investment Committee, 

monitoring the adequacy of NCUSIF 

reserves, analyzing the reasons for 

NCUSIF losses, formulating policies and 

procedures regarding the supervision of 

financially troubled credit unions, and 

evaluating certain requests for special 

assistance pursuant to Section 208 of 

the Federal Credit Union Act and for 

certain proposed administrative actions 

regarding federally insured credit 

unions; serves as the Board expert on 

accounting principles and standards 

and on auditing standards; represents 

NCUA at meetings with the American 

Institute of Certified Public Accountants 

(AICPA), Federal Financial Institutions 

Examination Council (FFIEC) and 

General Accounting Office (GAO); and 

collects data and provides statistical 

reports. The Director is responsible for 

developing and conducting research in 

support of NCUA programs, and for 

preparing reports on research activities 

for the information and use of agency 

staff, credit union officials, state credit 

union supervisory authorities, and other 

governmental and private groups. The 

Director is also responsible for 

providing interest rate risk assessment, 

investment expertise and advice to the 

Board and agency staff and conducting 

research and development to assess risk 

areas of emerging products, delivery 

systems, infrastructure issues, and 

investments. 

* * * * * 

(13) Office of Minority and Women 

Inclusion. The Office of Minority and 

Women Inclusion was established 

pursuant to the Dodd-Frank Wall Street 

Reform and Consumer Protection Act of 

2010. It has the responsibility for all 

NCUA matters relating to diversity in 

management, employment, and business 

activities. Specific duties of the office 

include developing and implementing 

standards for: equal employment 

opportunity and the racial, ethnic, and 

gender diversity of the workforce and 

senior management of NCUA; increased 

participation of minority-owned and 

women-owned businesses in the 

programs and contracts of NCUA, 

including standards for coordinating 

technical assistance to such businesses; 

assessing the diversity policies and 

practices of credit unions regulated by 

NCUA; and preserving credit unions run 

by minorities and/or serving minorities. 

* * * * * 

(c) * * * 

(2) A Regional Director is in charge of 

each Regional Office. The Regional 

Director manages NCUA’s programs in 

the Region assigned in accordance with 

established policies. A Regional 

Director’s duties include: directing 

examination and supervision programs 

to promote and assure safety and 

soundness; assisting other offices in 

chartering and insurance issues; 

managing regional resources to meet 

program objectives in the most 

economical and practical manner; and 

maintaining good public relations with 

public, private, and governmental 

organizations, Federal credit union 

officials, credit union organizations, and 

other groups which have an interest in 

credit union matters in the assigned 

Region. The Regional Director maintains 

liaison and cooperation with other 

regional offices of Federal departments 

and agencies, state agencies, city and 

county officials, and other governmental 

units that affect credit unions. The 

Regional Director is aided by an 

Associate Regional Director for 

Operations and Associate Regional 

Director for Programs. Staff working in 

the Regional Office report to the 

Associate Regional Director for 

Operations. Each region is divided into 

examiner districts, each assigned to a 

Supervisory Credit Union Examiner; 

groups of examiners are directed by a 

Supervisory Credit Union Examiner, 

each of whom in turn reports directly to 

the Associate Regional Director for 

Programs. 

[FR Doc. 2012–6835 Filed 3–20–12; 8:45 am] 

BILLING CODE 7535–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2011–1088; Directorate 

Identifier 2011–NM–099–AD; Amendment 

39–16985; AD 2012–06–04] 

RIN 2120–AA64 

Airworthiness Directives; Bombardier, 

Inc. Airplanes 

AGENCY: Federal Aviation 

Administration (FAA), Department of 

Transportation (DOT). 

ACTION: Final rule. 


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