On July 21, 2010, President Barack
Obama signed into law the Dodd-Frank Wall Street Reform and
Consumer Protection Act, P.L. 111-203, 124 Stat. 1376 (2010)
(Dodd-Frank Act). Title X of the Dodd-Frank Act created the
Consumer Financial Protection Bureau (CFPB or the Bureau) and
provides that the Director of the CFPB "shall establish a Consumer
Advisory Board to advise and consult with the Bureau in the
exercise of its functions under the Federal consumer financial
laws, and to provide information on emerging practices in the
consumer financial products or services industry, including
regional trends, concerns, and other relevant information." See
Dodd-Frank Act § 1014. The Bureau seeks a clearance from OMB to
collect selection-related information from nominees to the Consumer
Advisory Board (CAB), such as background information, information
related to financial holdings, and other supplemental information
relevant to the application process. The Bureau may collect similar
information from potential candidates for other Advisory Groups,
members of other Advisory Groups, and Special Advisors to the CAB
and other Advisory Groups, as relevant to the particular group. The
Bureau may use this information to screen potential candidates for,
members of, and advisors to CAB and other Advisory Groups for
status as a federally registered lobbyist and/or status as a
convicted felon.
This ICR is necessary for the
creation of advisory boards, groups, and committees at the Bureau,
and will be used to collect information from potential members of
those boards, groups, and committees.
$0
No
No
No
Yes
No
Uncollected
Stacy Kane 202 754-0135
stacy.kane@cfpb.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.