Studies to Develop and Test Consumer Regulatory Disclosures

Forms and Documents

Document Name	Status
FR1380.200903_83c.pdf Justification for No Material/Nonsubstantive Change	2009-03-19

IC Document Collections

IC ID	Document Title	Status
36370	FR 1380 Consumer Survey (Qualitative testing) Other-Survey purpose and goals	Modified
188469	FR 1380 Institution or Stakeholder Survey (Quantitative testing) Other-Survey purpose and goals	New
188468	FR 1380 Institution or Stakeholder Survey (Qualitative testing) Other-Survey purpose and goals	New
188467	FR 1380 Consumer Survey (Quantitative testing) Other-Survey purpose and goals	New

ICR Details

OMB Control No: 7100-0312	ICR Reference No: 200903-7100-011
Status: Historical Active	Previous ICR Reference No: 200605-7100-004
Agency/Subagency: FRS	Agency Tracking No: FR 1380
Title: Studies to Develop and Test Consumer Regulatory Disclosures
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/20/2009
	Date Received in OIRA: 03/20/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2009	05/31/2009	05/31/2009
Responses	7,200	0	7,200
Time Burden (Hours)	20,884	0	25,434
Cost Burden (Dollars)	0	0	0

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Abstract: The FR 1380 is used to gather qualitative and quantitative information directly from consumers (“consumer studies”), and also to gather qualitative and quantitative information from financial institutions offering consumer financial products and services and from other stakeholders, such as brokers, appraisers, settlement agents, software vendors, and consumer groups (“stakeholder studies”). This information collection is specifically targeted to the development of consumer regulations.

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Authorizing Statute(s): US Code: 12 USC 2804(a) Name of Law: Home Mortgage Act, Section 806
   US Code: 12 USC 3806 Name of Law: Competitive Equality Banking Act, Section 1204
   US Code: 12 USC 4008 Name of Law: Expedited Funds Availability Act, Section 609
   US Code: 12 USC 4308 Name of Law: Truth in Saving Act, Section 269
   US Code: 15 USC 57a(f) Name of Law: Federal Trade Commission Act, Section 18(f)
   US Code: 15 USC 1604 Name of Law: Truth in Lending Act, Section 105
   US Code: 15 USC 1638(b)(2) Name of Law: Mortgage Disclosure Improvement Act, Sections 2501 through 2503 of the Housing and Economic Recovery
   US Code: 15 USC 1638(e)(5) Name of Law: Higher Education Opportunity Act of 2008, Section 1021(a)
   US Code: 15 USC 1681s(e) Name of Law: Fair Credit Reporting Act, Section 621
   US Code: 15 USC 1691b(a) Name of Law: Equal Credit Opportunity Act, Section 703
   US Code: 15 USC 1693b Name of Law: Electronic Funds Transfer Act, Section 904
   US Code: 15 USC 6804 Name of Law: Gramm-Leach-Bliley Act, Section 504
   US Code: 5 USC 552(b)(4) and (6) Name of Law: Freedom of Information Act (FOIA)
   US Code: 12 USC 2905 Name of Law: Community Reinvestment Act, Section 806
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
FR 1380 Institution or Stakeholder Survey (Qualitative testing)
FR 1380 Institution or Stakeholder Survey (Quantitative testing)
FR 1380 Consumer Survey (Quantitative testing)
FR 1380 Consumer Survey (Qualitative testing)

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	7,200	7,200	0	0	0	0
Annual Time Burden (Hours)	20,884	25,434	0	0	-4,550	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Decrease in burden hours reflects an update to the method of estimating the number of respondents and annual frequency. In addition, this submission reflects an update to the FR 1380 since its initial mapping into the ROCIS database: splitting 1 information collection(IC) into 4 ICs.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 03/20/2009

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