Federal Register / Vol. 89, No. 38 / Monday, February 26, 2024 / Notices 14113 

1Public Law 101–73, 103 Stat. 183 (1989). 

2 Id. Title III, sec. 308, 103 Stat. 353, codified at 

12 U.S.C. 1463 note, ‘‘Preserving Minority 

Ownership of Minority Financial Institutions.’’ 

3 Id. sec. (a). The Office of the Comptroller of the 

Currency and the Board of Governors of the Federal 

Reserve System also initiated minority depository 

institution programs to comply with the spirit of 

FIRREA section 308, even though neither was 

originally required to do so. OTS became part of the 

Office of the Comptroller of the Currency on July 

21, 2011. 

4 Id. sec. (b). 

5Public Law 111–203, 124 Stat. 1376 (2010); 12 

U.S.C. 5301 et seq. 

6 12 U.S.C. 1463 note sec. (a). 

7 Id. sec. (c). 

8 78 FR 46374 (July 31, 2013). 

copies of the information collection 

instrument(s) and instructions should 

be directed to NASA PRA Clearance 

Officer, Bill Edwards-Bodmer, NASA 

Headquarters, 300 E Street SW, JF0000, 

Washington, DC 20546, phone 757–864– 

7998, or email hq-ocio-pra-program@

mail.nasa.gov. 

SUPPLEMENTARY INFORMATION: 

I. Abstract 

The Evelyn Johnson Scholarship 

Program (EJSP) recognizes the academic 

achievement of, and provides financial 

assistance to, the dependents of NASA 

Kennedy Space Center (KSC) civil 

service and NASA KSC Exchange 

employees. The scholarship honors the 

dedication and commitment of the late 

Evelyn Johnson, a Deputy Director, 

Equal Opportunity Program Office at 

KSC. Applicants are evaluated on the 

basis of academic achievement, 

involvement in school and community 

activities, and education and career 

goals. The scholarship winners may 

pursue any course of study leading to an 

undergraduate degree at any accredited 

college in the country. The scholarship 

is intended to be used only for tuition, 

fees, books and supplies associated with 

attending college. 

Authority: The National Aeronautics 

and Space Administration (NASA) is 

committed to effectively performing the 

Agency’s communication function in 

accordance with the Space Act section 

203(a)(3) to ‘‘provide for the widest 

practicable and appropriate 

dissemination of information 

concerning its activities and the results 

thereof,’’ and to enhance public 

understanding of, and participation in, 

the nation’s space program in 

accordance with the NASA Strategic 

Plan. 

II. Methods of Collection 

Electronically available form. 

III. Data 

Title: NASA Kennedy Space Center 

Exchange Evelyn Johnson Scholarship 

Program. 

OMB Number: 2700-new. 

Type of Review: New information 

collection. 

Affected Public: Individuals. 

Estimated Annual Number of 

Activities: 20. 

Estimated Number of Respondents 

per Activity: 1. 

Annual Responses: 20. 

Estimated Time per Response: 1 hour. 

Estimated Total Annual Burden 

Hours: 20 hours. 

IV. Request for Comments 

Comments are invited on: (1) Whether 

the proposed collection of information 

is necessary for the proper performance 

of the functions of NASA, including 

whether the information collected has 

practical utility; (2) the accuracy of 

NASA’s estimate of the burden 

(including hours and cost) of the 

proposed collection of information; (3) 

ways to enhance the quality, utility, and 

clarity of the information to be 

collected; and (4) ways to minimize the 

burden of the collection of information 

on respondents, including automated 

collection techniques or the use of other 

forms of information technology. 

Comments submitted in response to 

this notice will be summarized and 

included in the request for OMB 

approval of this information collection. 

They will also become a matter of 

public record. 

William Edwards-Bodmer, 

NASA PRA Clearance Officer. 

[FR Doc. 2024–03861 Filed 2–23–24; 8:45 am] 

BILLING CODE 7510–13–P 

NATIONAL CREDIT UNION 

ADMINISTRATION 

[NCUA–2023–0070] 

Minority Depository Institution 

Preservation Program 

AGENCY: National Credit Union 

Administration (NCUA). 

ACTION: Final interpretive ruling and 

policy statement. 

SUMMARY: The NCUA Board is issuing 

revisions to Interpretive Ruling and 

Policy Statement (IRPS) 13–1, regarding 

the Minority Depository Institution 

Preservation Program for credit unions. 

DATES: The revised IRPS is effective 

March 27, 2024. 

FOR FURTHER INFORMATION CONTACT: 

Supervisory Program Manager Kristi 

Kubista-Hovis or Program Manager 

Pamela Williams, Office of Credit Union 

Resources and Expansion, 703–518– 

6610 or CUREMDI@ncua.gov. 

SUPPLEMENTARY INFORMATION

I. Background 

Congress enacted the Financial 

Institutions Reform, Recovery, and 

Enforcement Act of 1989 (FIRREA) in 

response to the savings and loan 

industry crisis.1 FIRREA included 

provisions designed to encourage 

federal financial regulators to preserve 

and promote minority depository 

institutions.2 Specifically, FIRREA 

section 308 required the Secretary of the 

Treasury to consult with the Office of 

Thrift Supervision (OTS) and the 

Federal Deposit Insurance Corporation 

(FDIC) on best methods to achieve the 

following goals: 

• Preserving the number of minority 

depository institutions; 

• Preserving the minority character of 

a minority depository institution 

involved in a merger or acquisition; 

• Providing technical assistance to 

prevent the insolvency of minority 

depository institutions; 

• Encouraging the formation of new 

minority depository institutions; and 

• Providing training, technical 

assistance, and educational programs to 

minority depository institutions.3

Those agencies developed various 

initiatives aimed at preserving federally 

insured banks and savings institutions 

that meet FIRREA’s definition of a 

minority depository institution.4

In 2010, Congress enacted the DoddFrank Wall Street Reform and Consumer 

Protection Act (Dodd-Frank Act).5

Section 367(4)(A) of the Dodd-Frank Act 

expanded FIRREA section 308 to require 

the Secretary of the Treasury to consult 

with the National Credit Union 

Administration (NCUA) and the Board 

of Governors of the Federal Reserve 

System, in addition to the FDIC and the 

Office of the Comptroller of the 

Currency on methods for best achieving 

the FIRREA goals.6 Section 367(4)(B) of 

the Dodd-Frank Act also amended 

FIRREA section 308 to require each 

agency to submit an annual report to 

Congress describing actions it has taken 

to preserve and encourage minority 

depository institutions.7

In 2013, the NCUA Board (Board) 

proposed Interpretive Ruling and Policy 

Statement (IRPS) 13–1 to establish a 

Minority Depository Institution 

Preservation Program to encourage the 

preservation of minority depository 

institutions and the establishment of 

new ones.8 In 2015, the Board approved 

final IRPS 13–1, establishing the 


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14114 Federal Register / Vol. 89, No. 38 / Monday, February 26, 2024 / Notices 

9 80 FR 36356 (June 24, 2015). 

10 88 FR 42105 (June 29, 2023). 

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

15–1, available at https://ncua.gov/files/ 

publications/irps/IRPS1987-2.pdf. 

12Title III, sec. 308, Public Law 101–73, 103 Stat. 

353 (1989), as amended by title III, sec. 367(4), 

Public Law 111–203, 124 Stat. 1556 (2010), codified 

at 12 U.S.C. 1463 note. 

13 80 FR 36356, 36357 (June 24, 2015). 

NCUA’s Minority Depository Institution 

Preservation Program, administered by 

the agency’s Office of Minority and 

Women Inclusion (OMWI).9 Consistent 

with the statutory language, IRPS 13–1 

required that for designation as an 

minority depository institution, the 

majority of a credit union’s members, 

the majority of its board, and the 

majority of the ‘‘community it services, 

as defined in its charter’’ must be 

eligible minorities. An eligible minority, 

under FIRREA section 308, is any Black 

American, Asian American, Hispanic 

American, or Native American. 

The Board restructured the agency in 

2018. Among other changes, the 

restructuring created the Office of Credit 

Union Resources and Expansion 

(CURE). At that time, CURE assumed 

administration of the NCUA’s Minority 

Depository Institution Preservation 

Program from OMWI. 

In June 2023, the Board invited 

comment on proposed revisions to IRPS 

13–1.10 The proposed revisions 

included: 

• Updating the administering office to 

CURE to reflect the agency’s current 

structure; 

• Clarifying that the meaning of 

‘‘community it services,’’ means a credit 

union’s field of membership; 

• Adding a reference to agency 

guidance to examiners regarding 

supervision of minority depository 

institutions; 

• Clarifying the process for reviewing 

a minority depository institution’s 

designation status; and 

• Adding new subsection headings 

and expanding the discussion of agency 

actions and policies in the areas of 

minority depository institution 

engagement, technical assistance, 

examinations of minority depository 

institutions, grants and loans, and 

training. 

The Board invited comment on all 

aspects of the IRPS, including 

suggestions for any other information or 

resources the agency could provide to 

assist credit unions that are minority 

depository institutions. 

II. Summary of Comments on Proposed 

Changes to IRPS 13–1 and Final IRPS 

The NCUA received five comments on 

the proposed changes. All commenters 

were broadly supportive of minority 

depository institutions and the NCUA’s 

Minority Depository Institution 

Preservation Program. Commenters 

noted that minority depository 

institution credit unions provide 

important benefits to their communities, 

including by offering services to those 

excluded from the mainstream financial 

system, providing safe and affordable 

alternatives to predatory lenders, and 

stimulating economic growth in the 

communities they serve. Most of the 

commenters also had suggestions for 

changes to the IRPS and ways in which 

the NCUA can better support minority 

depository institutions. After 

considering the comments, as discussed 

below, the Board is adopting the IRPS 

substantially as proposed. 

One commenter requested that the 

NCUA extend or reopen the comment 

period, stating that some stakeholders 

may have been unaware of the proposed 

IRPS due to current industry and 

economic challenges. The Board is not 

extending or reopening the comment 

period. The original IRPS includes 

outdated references and the Board 

provided the standard 60 days for 

comments under NCUA rulemaking 

procedures.11 Further, the comments 

received represented input from a 

variety of interested parties. One letter, 

from a trade association focused on 

community development and minority 

depository institution credit unions, had 

42 co-signers, including 38 individual 

minority depository institution credit 

unions, a national credit union trade 

association, a state credit union trade 

association, and groups representing 

minority depository institution credit 

unions and credit union professionals. 

Another national trade association, a 

trade association for state credit union 

regulators, and one state-level trade 

association also submitted comments. 

Every commenter expressed support for 

the IRPS and the mission and purpose 

of minority depository institutions. 

Additionally, many minority depository 

institution credit unions are members of 

one or more of the associations that 

submitted comments. Considering the 

broad representation of credit union 

industry perspectives among the 

commenters, the Board finds that the 

comment period was adequate to ensure 

that it received sufficient feedback on 

the proposal. 

Another commenter requested that 

the NCUA amend the eligibility 

standards so that credit unions that 

meet as few as one of the three required 

criteria could become minority 

depository institutions, instead of the 

requirement in the existing and 

proposed IRPS that all three criteria be 

met. This commenter noted challenges 

in establishing that a majority of ‘‘the 

community it services’’ is made up of 

minorities. This change is not supported 

by the statute, which requires that a 

mutual institution meet all three 

standards to become a minority 

depository institution. The statute 

specifically requires that for a mutual 

institution to qualify as a minority 

depository institution, a majority of the 

board of directors, a majority of the 

account holders, and a majority of ‘‘the 

community which it services’’ are 

minorities.12 The Board’s longstanding 

interpretation of the statutory 

requirement is that credit unions are 

subject to the requirements for mutual 

institutions.13

Similarly, another commenter 

requested an expansion of the minority 

depository institution criteria to include 

all credit unions that commit to 

minority depository institution 

principles, that have some minority 

depository institution characteristics, or 

that have a minority depository 

institution credit union merge into 

them. The Board reiterates that the 

statute establishes the requirements for 

minority depository institution 

designation and permitting differing 

eligibility requirements would not 

comply with the statute. 

Another commenter commended the 

NCUA for recognizing the uniqueness of 

minority depository institutions and the 

need for a tailored approach to 

examination and supervision of them. 

This commenter recommended that the 

NCUA increase efforts to promote and 

support the minority depository 

institution mentorship program and be 

proactive in providing more resources to 

minority depository institutions, such as 

regulatory updates, best practices, and 

opportunities for training. Through 

CURE, the NCUA communicates 

opportunities and resources to minority 

depository institution credit unions, 

such as through social media and direct 

email. The NCUA offered a Minority 

Depository Institution Mentoring 

Program from 2020–2022 in conjunction 

with the then Minority Depository 

Institution Mentoring grant initiative. 

Feedback from participating mentees 

and mentors was overall positive, yet 

there was not sufficient participation to 

sustain the program. The agency will 

continue to seek opportunities to 

support minority depository institution 

credit unions and increase their 

awareness of opportunities. 

One commenter suggested the NCUA 

consider offering technical assistance 


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Federal Register / Vol. 89, No. 38 / Monday, February 26, 2024 / Notices 14115 

14The Mission-Driven Bank Fund is an initiative 

of the Federal Deposit Insurance Corporation 

developed for FDIC-insured Minority Depository 

Institutions and Community Development Financial 

Institutions. 

funding support to very small minority 

depository institution credit unions and 

minority depository institution credit 

unions that are managing significant 

challenges, such as identified in their 

examination reports. The Board notes 

that for the first time during 2023 a 

minority depository institution could 

receive Community Development 

Revolving Loan Fund funding regardless 

of its low-income designation status. 

Such funding may be used for technical 

assistance in accordance with grant 

requirements. The NCUA’s Small Credit 

Union and Minority Depository 

Institution Support Program offers 

technical assistance to address 

challenges such as those identified in 

their examination reports. This 

assistance is provided at no additional 

cost to participating credit unions. 

Another commenter opined that it 

would be helpful if the agency provided 

additional transparency around 

examination standards for minority 

depository institution credit unions and 

explained how these examination 

standards differ from standard 

procedures. While examination 

standards for MDIs and non-MDI credit 

unions are the same, the Board notes 

that the NCUA provides guidance for 

examiners to consider the MDI’s 

mission, unique characteristics, and 

tailored strategies during an 

examination. This same commenter 

suggested creating a group of examiners 

focused on small minority depository 

institution credit unions and extending 

regulatory flexibility to all small 

minority depository institution credit 

unions. These suggestions go beyond 

the scope of the proposed revisions to 

the IRPS and were provided to 

applicable NCUA offices to consider. 

During 2023, the NCUA developed peer 

metrics in order for examiners to 

compare minority depository 

institutions with minority depository 

institutions. The agency also issued 

customized guidance to examiners to 

provide insights into minority 

depository institutions’ unique business 

models and members’ needs. The 

guidance assists examiners in 

understanding minority depository 

institutions’ distinct business model 

compared to other mainstream financial 

institutions by providing instruction on 

how to use minority depository 

institution peer metrics instead of 

traditional peer metrics. 

Commenters also requested the NCUA 

provide resources to minority 

depository institution credit unions for 

specific purposes, such as travel support 

to enable participation in the NCUA’s 

in-person events, access to an 

interactive analysis tool that would 

simplify the process of determining 

whether an area meets the concentration 

of facilities test, and additional 

information about how to track and 

store member demographic data for 

purposes of minority depository 

institution certification. These 

suggestions were provided to applicable 

NCUA offices to consider. 

Finally, one commenter requested 

that the NCUA consider supporting the 

establishment of a fund similar to the 

Mission-Driven Bank Fund.14 This 

commenter also encouraged the NCUA 

to advocate for more inclusion of 

minority depository institution credit 

unions in opportunities provided by the 

Economic Opportunity Coalition. As the 

Economic Opportunity Coalition is 

established and funded by the private 

sector, the Board believes it is not 

appropriate to take an advocacy role 

with respect to this organization. The 

NCUA is researching the feasibility of 

the establishment of a fund similar to 

the Mission-Driven Bank Fund and will 

inform stakeholders of the outcome of 

the research. It should be noted that the 

NCUA engages with other federal 

agencies to educate them about credit 

unions, ensure access to applicable 

resources, and to host webinars about 

resources they offer minority depository 

institutions. Examples include 

engagement with the Community 

Development Financial Institutions 

(CDFI) Fund concerning changes to the 

requirements for CDFI certification, and 

engagement with the U.S. Department of 

the Treasury to facilitate credit union 

access to the Emergency Capital 

Investment Program. The NCUA will 

continue to engage with other 

government entities to further support 

minority depository institution credit 

unions, consistent with its mission and 

statutory authorities. 

In summary, the Board appreciates 

the various suggestions from 

commenters and, as noted above, will 

consider whether and how to 

implement some of the suggestions. The 

final paragraph of the IRPS also states 

that the NCUA’s annual report to 

Congress will include a discussion of 

the feedback it has solicited and 

received from minority depository 

institution credit unions on the 

effectiveness of the agency’s minority 

depository institution support and 

preservation activities. The Board 

believes that, should it determine to 

adopt some of the suggestions, further 

changes to the IRPS would not be 

necessary. 

After carefully considering the 

alternatives offered by these 

commenters, the Board adopts the 

revisions to IRPS 13–1 as proposed, 

with a few minor grammatical and 

stylistic changes and one correction. 

The stylistic changes are that the final 

IRPS consistently uses the phrase ‘‘field 

of membership,’’ (FOM) instead of the 

phrase ‘‘potential members’’ that the 

proposed IRPS had carried over from 

the prior version. This change makes the 

language of the entire IRPS consistent 

with the clarification that ‘‘community 

it services’’ means FOM. 

Additionally, the proposed IRPS 

mischaracterized the agency’s practice 

in stating that technical assistance is 

offered annually to each minority 

depository institution credit union, and 

the final version of the IRPS deletes this 

sentence. The Board emphasizes that 

the change in the language of the IRPS 

does not change the availability of 

technical assistance resources for 

minority depository institution credit 

unions, including through the 

Community Development Revolving 

Loan Fund’s grants and loans and 

through the Small Credit Union and 

Minority Depository Institution Support 

Program. 

Authority: 12 U.S.C. 1463 note; Sec. 

308, Pub. L. 101–73, 103 Stat. 353; as 

amended by Sec. 367(4), Pub. L. 111– 

203, 124 Stat. 1556. 

III. Interpretive Ruling and Policy 

Statement 13–1, Minority Depository 

Institution Preservation Program, as 

Amended 

The text of IRPS 13–1 follows: 

a. Goals and Objectives of the Minority 

Depository Institution Preservation 

Program 

Minority depository institutions play 

an important and unique role in 

promoting the economic viability of 

minority and underserved communities. 

Through its Minority Depository 

Institution Preservation Program, the 

NCUA engages in a range of efforts to 

preserve minority depository 

institutions and foster their success. The 

Minority Depository Institution 

Preservation Program is designed to 

comply with section 308 of the 

Financial Institutions Reform, Recovery 

and Enforcement Act of 1989 (FIRREA), 

which requires the NCUA to submit an 

annual report to Congress summarizing 


khammond on DSKJM1Z7X2PROD with NOTICES
14116 Federal Register / Vol. 89, No. 38 / Monday, February 26, 2024 / Notices 

15Title III, sec. 308, Public Law 101–73, 103 Stat. 

353 (1989), as amended by title III, sec. 367(4), 

Public Law 111–203, 124 Stat. 1556 (2010), codified 

at 12 U.S.C. 1463 note. 

16Prior to 2023, under the annual appropriations 

statutes, grants and loans from the CDRLF were 

historically only available to low-income 

designated credit unions, some of which are also 

minority depository institutions. However, not all 

minority depository institutions have a low-income 

designation. 

its actions taken in furtherance of 

section 308’s goals to: 15

• Preserve the present number of 

minority depository institutions; 

• Preserve the minority character of 

minority depository institutions 

involved in mergers and acquisitions; 

• Provide technical assistance to 

prevent insolvency of minority 

depository institutions that are not now 

insolvent; 

• Promote and encourage the creation 

of new minority depository institutions; 

and 

• Provide training, technical 

assistance, and educational programs for 

minority depository institutions. 

b. Description of the Minority 

Depository Institution Preservation 

Program 

The NCUA’s Minority Depository 

Institution Preservation Program 

consists of proactive steps and outreach 

efforts to promote and preserve minority 

depository institutions in the credit 

union system. The NCUA’s Office of 

Credit Union Resources and Expansion 

(CURE) administers the agency’s 

Minority Depository Institution 

Preservation Program and will meet 

periodically with state regulators, other 

federal regulators, and other 

stakeholders to discuss outreach efforts, 

share ideas, and identify areas to work 

together to assist minority depository 

institutions. 

The NCUA offers minority depository 

institution-designated credit unions a 

variety of initiatives to assist in 

preserving the economic viability of 

their institutions. The initiatives 

include technical assistance, 

educational opportunities, and funding. 

Examples of such initiatives include the 

following: 

• Consulting and support programs; 

• Trainings; and 

• Grants and loans through the 

NCUA’s Community Development 

Revolving Loan Fund (CDRLF), subject 

to eligibility.16

Examples of broad-based and 

individualized technical assistance 

include the following: 

• Providing guidance in resolving 

examination concerns; 

• Helping minority depository 

institutions locate new sponsors, 

mentors, or merger partners; 

• Assisting with field of membership 

expansions; 

• Supporting management in setting 

up new programs and services; 

• Attempting to preserve the minority 

character of failing institutions during 

the resolution process; and 

• Aiding groups that are interested in 

chartering a new minority depository 

institution. 

Engagement With Minority Depository 

Institutions 

The NCUA’s Minority Depository 

Institution Preservation Program will 

provide periodic engagement with 

minority depository institutions through 

interaction with headquarters and field 

staff. This interaction includes: 

• sharing information and expertise 

on supervisory topics; 

• using various venues to engage in 

an open dialogue between the NCUA, 

minority depository institutions, and 

related organizations; 

• seeking feedback on the NCUA’s 

efforts under the Minority Depository 

Institution Preservation Program; and 

• providing a variety of training 

opportunities hosted or sponsored by 

the NCUA. 

The NCUA’s outreach also includes 

seeking out, working with, and 

supporting groups interested in 

applying for a new federal or state 

charter with a minority depository 

institution designation and aiding 

existing credit unions interested in 

receiving the minority depository 

institution designation. 

Technical Assistance 

The NCUA will provide technical 

assistance to a minority depository 

institution upon request. A minority 

depository institution should contact its 

assigned NCUA regional office, 

supervisory examiner, or district 

examiner to request technical 

assistance. 

Technical assistance is not an 

examination or supervisory activity and 

will be provided separately from 

examination and supervision contacts. 

Technical assistance includes, but is not 

limited to, assistance in understanding 

applicable laws and regulations, agency 

processes, reporting requirements, 

supervisory guidance, accounting 

standards, supervisory findings and 

conclusions (only after the conclusion 

of the applicable examination or 

supervision contact), applications or 

requests for agency approval or action 

(such as field of membership, bidding 

on a failing institution, regulatory 

waivers), and assistance in designating 

as a minority depository institution. In 

providing technical assistance, agency 

staff will not perform tasks expected of 

an institution’s management or 

employees. And while they may help 

the institution understand how to apply 

or bid, agency staff will not assist or 

guide the institution in developing the 

substance of such application or bid. 

Examinations of Minority Depository 

Institutions 

Minority depository institutiondesignated credit unions have a unique 

role in promoting the economic viability 

of minority and underserved 

communities, at times necessitating 

distinct approaches to taking and 

managing the related financial and 

operational risks. The NCUA expects 

examiners to recognize the distinctive 

characteristics and differences in core 

objectives of each financial institution 

and consider these when evaluating the 

institution’s financial and operational 

condition and related management 

practices. Examiners will evaluate a 

minority depository institution using, 

among other things, peer metrics such 

as through the Financial Performance 

Report. 

The NCUA provides examiners 

guidance to educate them about the 

unique challenges faced by minority 

depository institutions and the support 

and services the NCUA offers to help 

minority depository institutions address 

such challenges. The guidance 

acknowledges, at times, some minority 

depository institutions may need more 

or different support from the NCUA 

than other credit unions. The guidance 

also lists specific types of technical 

assistance a minority depository 

institution may request of the NCUA. It 

also advises that minority depository 

institutions often have unique 

memberships and provide financial 

services to consumers and businesses in 

communities that might not otherwise 

have access to another federally insured 

financial institution. Therefore, the 

policies, processes, risks, and practices 

of minority depository institutions may 

vary and comparison to other credit 

unions based solely on similar size may 

have limited value. Instead, examiners 

are instructed to assess each minority 

depository institution based on its 

unique strategy and membership. 

CDRLF Grants and Loans 

The CDRLF provides loans and grants 

to low-income designated credit unions, 

some of which are also designated as 

minority depository institutions, to 

expand outreach to underserved 

populations, improve digital services 

and cybersecurity, provide staff training, 

and support capacity-building 

programs, as examples. The 


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Federal Register / Vol. 89, No. 38 / Monday, February 26, 2024 / Notices 14117 

17 Div. E, title V, Public Law 117–328, 136 Stat. 

4690 (2022). Refer to the Grants and Loans section 

of the NCUA website for eligibility requirements in 

future periods. 

18These training opportunities are accessible to 

all credit unions through the Learning section of the 

NCUA’s website. 

19 12 U.S.C. 1788(a)(1)–(2). 

20 Generally, the NCUA is involved in the 

selection process when the transaction will cause 

a loss to the NCUSIF or when the failing credit 

union is in conservatorship and the NCUA Board 

is the conservator. For additional information on 

the NCUA’s selection process, see Letter to Credit 

Unions 10–CU–11, Information on NCUA’s Merger 

and Purchase & Assumption Process. 

21 12 U.S.C. 1463 note sec. (b)(1)(C). 

22 Id. 

23NCUA Form 4501A, https://ncua.gov/files/ 

publications/regulations/credit-union-profile-forminstructions-4501A-sept-2022.pdf. 

24 80 FR 57512 (Sept. 24, 2015). 

Consolidated Appropriations Act for 

fiscal year 2023 made minority 

depository institutions without the lowincome designation eligible for CDRLF 

grants and loans through September 30, 

2024.17

Training and Education 

The NCUA offers training to credit 

unions including minority depository 

institutions, through various formats 

such as webinars, online courses, 

videos, and in-person events. Through 

the NCUA Learning Management 

System, the agency offers training and 

educational resources to credit union 

board members, management, 

employees, and volunteers online and at 

no charge. Examples of the content 

provided include guidance on credit 

union operations, compliance, 

community partnerships, and strategic 

planning.18

Preservation of Minority Depository 

Institutions 

With regard to a potentially failing 

minority depository institution or the 

need for an assisted merger of a 

minority depository institution, as with 

any insured credit union, the Board will 

consider providing section 208 

assistance under the Federal Credit 

Union Act to reduce the risk or avert a 

threatened loss to the National Credit 

Union Share Insurance Fund (NCUSIF), 

facilitate a merger or consolidation, or to 

prevent the closing of a credit union 

that the Board determines is in danger 

of closing.19 Requirements concerning 

field of membership apply to most 

mergers. In addition, the NCUA must 

consider resolution costs and safety and 

soundness implications for all mergers. 

The NCUA will make every effort to 

preserve the minority character of 

failing minority depository institutions 

during the resolution process. In the 

event of the potential failure of an 

minority depository institution, the 

agency will contact minority depository 

institutions in the NCUA’s merger 

registry that qualify to bid on a 

particular failing institution. Agency 

staff will solicit interest in bidding on 

the failing minority depository 

institution and offer technical assistance 

to any minority depository institution 

desiring to bid. The NCUA will also 

provide minority depository institutions 

interested in submitting a bid with an 

additional two weeks to submit a bid 

whenever possible. Except in the cases 

of conservatorships, liquidations, or 

assisted mergers, the minority 

depository institution’s board of 

directors is generally the decision-maker 

on a merger partner provided the 

selection is consistent with regulatory 

and safety and soundness standards. For 

conservatorships, liquidations, or 

assisted mergers, in the selection 

process, the NCUA will consider all the 

requirements applicable to a merger or 

purchase and assumption, including 

FIRREA’s general preference 

guidelines.20

c. Minority Depository Institution 

Designation Eligibility 

The agency adopted the definition of 

a minority depository institution in 

FIRREA section 308 that applies to a 

mutual institution.21 Accordingly, a 

credit union is eligible to receive the 

minority depository institution 

designation if it meets all the following 

criteria: 

• A majority of its current members 

are from any of the eligible minority 

groups; 

• A majority of the members of its 

board of directors are from any of the 

eligible minority groups; and 

• A majority of the community it 

services, as designated in its field of 

membership, are from any of the eligible 

minority groups. 

For minority representation to be a 

‘‘majority,’’ it must be greater than 50 

percent. 

The NCUA relies on the FIRREA 

section 308 ‘‘minority’’ definition to 

identify an eligible minority as any 

Black American, Asian American, 

Hispanic American, or Native 

American.22 For the purpose of this 

IRPS, Asian American includes anyone 

who is Native Hawaiian or Other Pacific 

Islander, and Native American includes 

anyone who is American Indian or 

Alaska Native. Also, for the purpose of 

minority representation under the 

minority depository institution 

definition, an individual who falls into 

more than one of the minority categories 

will be considered as a single, eligible 

minority. 

A credit union that meets the 

eligibility requirements can selfdesignate as a minority depository 

institution by following the guidelines 

as specified on the NCUA’s website. The 

instructions to the NCUA’s Credit Union 

Profile form, which credit unions use to 

self-designate as a minority depository 

institution, contain detailed directions 

on how to make the designation.23 A 

minority depository institution may 

participate in the NCUA’s Minority 

Depository Institution Preservation 

Program subject to the eligibility 

requirements of any specific initiative. 

An eligible credit union’s decision to 

designate as a minority depository 

institution or to participate in the 

Minority Depository Institution 

Preservation Program is voluntary. 

A credit union defined as a ‘‘small 

credit union’’ by the NCUA under the 

Regulatory Flexibility Act (RFA) may 

self-designate greater than 50 percent 

representation among its current 

members, and within the community it 

services (field of membership), based 

solely on knowledge of those members. 

Under the RFA, the NCUA currently 

defines a small credit union as a credit 

union with total assets of less than $100 

million.24

A credit union not defined as a small 

credit union by the NCUA may rely on 

one of the following methods, as 

applicable, to determine the minority 

composition of its current membership 

exclusively and of the community it 

services. The credit union must 

maintain documentation supporting its 

minority depository institution selfdesignation. 

1. The credit union may ascertain the 

minority representation using 

demographic data from the U.S. Census 

Bureau website, based on the area(s) 

where the current membership or field 

of membership resides, such as a 

township, borough, city, county, or 

Metropolitan Statistical Area. If the U.S. 

Census data—for example, census tracts, 

zip codes, townships, boroughs, cities, 

or counties—shows the area’s 

population comprises mostly eligible 

minorities, the credit union may assume 

that its current membership and the 

community it services each have the 

same minority composition as the 

Census data indicates. 

2. The credit union may use Home 

Mortgage Disclosure Act (HMDA) data 

to calculate the reported number of 

minority mortgage applicants divided 

by the total number of mortgage 

applicants within the credit union’s 

membership. If the share of minority 


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14118 Federal Register / Vol. 89, No. 38 / Monday, February 26, 2024 / Notices 

25HMDA data can be obtained from the Federal 

Financial Institutions Examination Council website. 

26 12 U.S.C. 1463 note sec. (c). 27See 80 FR 57512 (Sept. 24, 2015). 28 44 U.S.C. 3507(d); 5 CFR part 1320. 

representation among applicants is 

greater than 50 percent, the credit union 

may assume its current membership has 

the same minority composition as the 

HMDA data indicates. If a credit union 

grants a majority of its mortgage loans 

to minorities, it is likely the majority of 

the community the credit union services 

(its field of membership) will consist of 

minorities.25

3. The credit union may elect to 

collect data from members who 

voluntarily choose to participate in such 

collection about their racial identity and 

use the data to determine minority 

representation among the credit union’s 

membership. The credit union should 

consider using an unbiased third party 

to conduct such a collection. For 

example, data can be collected through 

a survey of members assessing the 

services they desire, or by mailed 

electoral ballots for official positions. 

Once collected, it is essential to 

maintain the confidentiality of the data; 

it should not be retained in the 

members’ files or with any personal 

identifiers, such as, names, accounts, or 

Social Security numbers. If a majority of 

its current members are minorities, it is 

likely the majority of the community the 

credit union services (its field of 

membership) will consist of minorities. 

4. The credit union may use any other 

reasonable form of data, such as 

membership address list analyses or an 

employer’s demographic analysis of 

employees. 

A minority depository institution 

credit union must assess whether it 

continues to meet the required 

definition of a minority depository 

institution whenever there is a change 

in its board of directors, or it makes a 

significant change to its field of 

membership, and update its 

designation, if necessary, in the NCUA 

Credit Union Profile. In accordance with 

the regular examination process, the 

NCUA will review whether a credit 

union has updated its analysis and 

made any corresponding changes to its 

self-designation in the Credit Union 

Profile. A minority depository 

institution may elect to withdraw its 

designation by not completing the 

relevant questions in the Credit Union 

Profile. 

d. Monitoring and Reporting on 

Minority Depository Institutions 

The NCUA will monitor minority 

depository institutions and report to 

Congress annually on the number and 

overall financial condition of minority 

depository institutions, along with 

actions taken by the agency to preserve 

and strengthen them and to encourage 

the chartering of new ones.26 The report 

will also summarize the NCUA’s efforts 

to obtain feedback from minority 

depository institutions on the 

effectiveness of the agency’s minority 

depository institution support and 

preservation activities. Additionally, the 

NCUA maintains a list of minority 

depository institutions on its website. 

IV. Regulatory Procedures 

Regulatory Flexibility Act 

The RFA generally requires that when 

an agency issues a proposed rule or a 

final rule pursuant to the 

Administrative Procedure Act or 

another law, the agency must prepare a 

regulatory flexibility analysis that meets 

the requirements of the RFA and 

publish such analysis in the Federal 

Register. Specifically, the RFA normally 

requires agencies to describe the impact 

of a rulemaking on small entities by 

providing a regulatory impact analysis. 

For purposes of the RFA, the Board 

considers credit unions with assets less 

than $100 million to be small entities.27

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 Board fully considered the 

potential economic impact of the 

changes during the development of the 

revised IRPS. The revised IRPS would 

clarify the NCUA’s current policy on 

minority depository institution 

preservation and provide additional 

services to minority depository 

institutions. The revised IRPS would 

not impose any new significant burden 

on credit unions designated as minority 

depository institutions and may provide 

some additional resources. The 

resources gained, however, are unlikely 

to result in a significant economic 

impact for affected credit unions. Small 

credit unions are also not obligated to 

participate in the minority depository 

institution program. Accordingly, the 

NCUA certifies that the revised IRPS 

would not have a significant economic 

impact on a substantial number of small 

federally insured credit unions. 

Paperwork Reduction Act 

The Paperwork Reduction Act of 1995 

(PRA) applies to rulemakings in which 

an agency creates a new information 

collection or amends existing 

information collection requirements.28

For purposes of the PRA, an information 

collection requirement may take the 

form of a reporting, recordkeeping, or a 

third-party disclosure requirement. The 

NCUA may not conduct or sponsor, and 

the respondent is not required to 

respond to, an information collection 

unless it displays a valid Office of 

Management and Budget (OMB) control 

number. The current information 

collection requirements for the minority 

depository institution policy are 

approved under OMB control number 

3133–0195, Minority Depository 

Institution Preservation Program. 

This revision to IRPS 13–1 does not 

alter the information collection 

described under OMB control number 

3133–0195, and the NCUA does not 

anticipate an increase in the burden 

based on the revisions. There are no 

additional information collections 

resulting from these changes. 

Executive Order 13132 

Executive Order 13132 encourages 

independent regulatory agencies to 

consider the impact of their actions on 

state and local interests. The NCUA, an 

independent regulatory agency as 

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

complies with the Executive order to 

adhere to fundamental federalism 

principles. This revised IRPS will not 

have a substantial direct effect 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. Although statechartered credit unions are eligible to 

obtain the minority depository 

institution designation and receive 

assistance based on it, the NCUA does 

not believe this designation affects state 

governments generally or state credit 

union regulators in particular. The 

NCUA will continue to work 

cooperatively with state credit union 

regulators to examine federally insured, 

state-chartered credit unions and does 

not expect the revised IRPS to alter 

these relationships or allocation of 

responsibilities. The decision about 

whether to designate as a minority 

depository institution or seek minority 

depository institution program benefits 

will be an individual business decision 

for each credit union’s board. The 

NCUA has determined that this revised 

IRPS does not constitute a policy that 

has federalism implications for 

purposes of the executive order. 


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Federal Register / Vol. 89, No. 38 / Monday, February 26, 2024 / Notices 14119 

29Public Law 105–277, 112 Stat. 2681 (1998). 

30 5 U.S.C. 551. 

31 Id. 

Assessment of Federal Regulations and 

Policies on Families 

The NCUA has determined that these 

revisions to IRPS 13–1 will not affect 

family well-being within the meaning of 

section 654 of the Treasury and General 

Government Appropriations Act, 

1999.29 The revisions to IRPS 13–1 may 

increase the ability of minority 

depository institutions to provide 

financial services to families. However, 

the Board does not have a means to 

quantify how this might affect family 

well-being as described in factors 

included in the legislation, which 

include the effects of the action on: the 

stability and safety of the family; 

parental authority and rights in the 

education, supervision, and nurture of 

their children; the ability of families to 

support their functions or substitute 

governmental activity for these 

functions; and increases or decreases to 

disposable income. 

Small Business Regulatory Enforcement 

Fairness Act—Congressional Review Act 

The Congressional Review chapter of 

the Small Business Regulatory 

Enforcement Fairness Act of 1996 

generally provides for congressional 

review of agency rules.30 A reporting 

requirement is triggered in instances 

where the NCUA issues a final rule as 

defined in the Administrative Procedure 

Act.31 Besides being subject to 

congressional oversight, an agency rule 

may also be subject to a delayed 

effective date if it is a ‘‘major rule.’’ The 

NCUA does not believe this revised 

IRPS is a ‘‘major rule’’ within the 

meaning of the relevant sections of the 

statute. As required by the statute, the 

NCUA will submit this final IRPS to 

OMB for it to determine if this final 

IRPS is a ‘‘major rule’’ for purposes of 

the statute. The NCUA also will file 

appropriate reports with Congress and 

the Government Accountability Office 

so this rule may be reviewed. 

By the National Credit Union 

Administration Board on February 15, 2024. 

Melane Conyers-Ausbrooks, 

Secretary of the Board. 

[FR Doc. 2024–03603 Filed 2–23–24; 8:45 am] 

BILLING CODE 7535–01–P 

NATIONAL FOUNDATION ON THE 

ARTS AND THE HUMANITIES 

Institute of Museum and Library 

Services 

Submission for OMB Review, 

Comment Request, Proposed 

Collection: Museums for All Program 

Evaluation 

AGENCY: Institute of Museum and 

Library Services, National Foundation 

on the Arts and the Humanities. 

ACTION: Submission for OMB review, 

request for comments, collection of 

information. 

SUMMARY: The Institute of Museum and 

Library Services (IMLS) announces that 

the following information collection has 

been submitted to the Office of 

Management and Budget (OMB) for 

review and approval in accordance with 

the Paperwork Reduction Act. This 

program helps to ensure that requested 

data can be provided in the desired 

format, reporting burden (time and 

financial resources) is minimized, 

collection instruments are clearly 

understood, and the impact of collection 

requirements on respondents can be 

properly assessed. This Notice proposes 

the clearance of the Museums for All 

Program Evaluation. A copy of the 

proposed information collection request 

can be obtained by contacting the 

individual listed below in the FOR

FURTHER INFORMATION CONTACT section of 

this Notice. 

DATES: Written comments must be 

submitted to the office listed in the 

ADDRESSES section below on or before 

March 24, 2024. 

ADDRESSES: Written comments and 

recommendations for proposed 

information collection requests should 

be sent within 30 days of publication of 

this Notice to www.reginfo.gov/public/ 

do/PRAMain. Find this particular 

information collection request by 

selecting ‘‘Institute of Museum and 

Library Services’’ under ‘‘Currently 

Under Review;’’ then check ‘‘Only Show 

ICR for Public Comment’’ checkbox. 

Once you have found this information 

collection request, select ‘‘Comment,’’ 

and enter or upload your comment and 

information. Alternatively, please mail 

your written comments to Office of 

Information and Regulatory Affairs, 

Attn.: OMB Desk Officer for Education, 

Office of Management and Budget, 

Room 10235, Washington, DC 20503, or 

call (202) 395–7316. 

OMB is particularly interested in 

comments that help the agency to: 

• Evaluate whether the proposed 

collection of information is necessary 

for the proper performance of the 

functions of the agency, including 

whether the information will have 

practical utility; 

• Evaluate the accuracy of the 

agency’s estimate of the burden of the 

proposed collection of information, 

including the validity of the 

methodology and assumptions used; 

• Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

• Minimize the burden of the 

collection of information on those who 

are to respond, including through the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology 

(e.g., permitting electronic submission 

of responses). 

FOR FURTHER INFORMATION CONTACT: 

Helen Wechsler, Supervisory Grants 

Management Specialist, Office of 

Museum Services, Institute of Museum 

and Library Services, 955 L’Enfant Plaza 

North SW, Suite 4000, Washington, DC 

20024–2135. Ms. Wechsler can be 

reached by Telephone: 202–653–4779, 

or by email at hwechsler@imls.gov. 

Persons who are deaf or hard of hearing 

(TTY users) can contact IMLS at 202– 

207–7858 via 711 for TTY-Based 

Telecommunications Relay Service. 

SUPPLEMENTARY INFORMATION: IMLS is 

the primary source of Federal support 

for the nation’s libraries and museums. 

We advance, support, and empower 

America’s museums, libraries, and 

related organizations through grant 

making, research, and policy 

development. To learn more, visit 

www.imls.gov. 

Current Actions: This Notice proposes 

the clearance of a program evaluation of 

the IMLS Museums for All Initiative to 

assess the impact of the program on 

participating institutions. A current 

IMLS cooperative agreement includes 

an evaluation of the Museums for All 

initiative, a program through which 

participating institutions offer free or 

reduced-price admission to families 

facing financial need. As part of this 

evaluation effort, a questionnaire, which 

is the subject of this Notice, will be 

undertaken to solicit information from 

participating institutions in Museums 

for All about the initiative’s 

implementation, benefits, and areas for 

improvement. A small number of 

participating institution staff will be 

interviewed virtually or in person as 

part of case study research. These 

information collections will be 

developed based on what is needed to 

undertake the evaluation. The 

information IMLS collects will build on, 


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