NCUA requires this information
collection to ensure federally insured credit unions comply with
NCUA's Management Official Interlocks regulation at 12 CFR part
711, implementing the Depository Institution Management Interlocks
Act ("Interlocks Act") (12 U.S.C. 3201-3208). The Interlocks Act
generally prohibits financial institution management officials from
serving simultaneously with two unaffiliated depository
institutions or their holding companies. For credit unions, the
Interlocks Act restricts interlocks between credit unions and other
types of financial institutions. 12 U.S.C. 3204(3).
US Code:
12
USC 3204(3) Name of Law: Exceptions
US Code:
12 USC 3201 to 3208 Name of Law: Depository Institution
Management Interlocks Act
Dawn Wolfgang 202 927-5331
dawn.wolfgang@do.treas.gov
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.