May 7, 2014
June 12, 2015
Memorandum to: Shagufta Ahmed
Policy Analyst
Office of Information and Regulatory Affairs
Office of Management and Budget
From: Gary A. Kuiper /s/Gary A. Kuiper
Counsel
Federal Deposit Insurance Corporation
RE: Focus Groups on Mobile Financial Services with Unbanked and Underbanked Consumers
Under the generic clearance entitled, “Occasional Qualitative Surveys” (3064-0198), the FDIC hereby submits for OMB review the generic survey Mobile Financial Services for Underserved Consumers - Phase 2 Focus Groups. These instruments will be fielded in July of 2015 as part of a qualitative research study on addressing the needs of unbanked and underbanked consumers.
The purpose of this data collection is to inform an FDIC initiative to bring unbanked and underbanked consumers into the traditional banking system and move them towards financial security. The materials in this packet pertain to research focused on whether and how mobile account monitoring tools and mobile bill pay and payments functions can help increase sustainable participation in the financial mainstream. An earlier phase of the project, which looked more broadly at consumers’ perceptions and use of mobile financial services, was conducted in May 2015. In this second phase, the FDIC plans to conduct ten focus groups of unbanked and underbanked consumers. The findings will be used to identify broad themes around the issues and will be represented as qualitative in nature
The recruitment and research process will involve a screening questionnaire used to recruit respondents, an intake questionnaire completed by the participants at the time of the focus group, and participation in the focus group itself.
The anticipated burden for respondents is as follows: We anticipate screening 750 respondents in order to complete ten focus groups each with ten respondents (100). The screening process will take 5 minutes, and focus group participation will take 120 minutes. Therefore, this effort will require 210 burden hours (((5*750) + (100*120))/60=262.5 hours). To offset travel costs and time spent, respondents will receive $100 following the completion of the interview.
The estimated burden is set out below:
Screening:
Estimated Number of Respondents: 750
Estimated Time per Response: 5 minutes
Total Estimated Annual Burden: 62.5 hours
Focus Group:
Estimated Number of Respondents: 100
Estimated Time per Response: 2 hours
Total Estimated Annual Burden: 200 hours
Total Estimated Burden: 262.5 hours
If you have any questions, please let me know. Thank you for your consideration.
| File Type | application/msword |
| File Title | FDIC Macros Ver. 5.5 |
| Author | gkuiper |
| Last Modified By | Kuiper, Gary |
| File Modified | 2015-06-13 |
| File Created | 2015-06-13 |