Supporting Statement

Request for Approval under the “GENERIC INFORMATION COLLECTION
PLAN FOR QUALITATIVE CONSUMER EDUCATION, ENGAGEMENT, AND
EXPERIENCE INFORMATION COLLECTIONS”

(OMB Control Number: 3170-0036)

1. TITLE OF INFORMATION COLLECTION: Misadventures in Money Management
Survey
2. PURPOSE: This information collection will gather feedback on the Misadventures in Money
Management (MiMM) learning program, and assess whether understanding of financial issues
changed as a result of this curriculum. In addition, we want to measure the financial well-being
of respondents who complete the MiMM program by using the Consumer Financial Protection
Bureau’s financial well-being survey instrument upon completion of the MiMM program.
3. DESCRIPTION OF RESPONDENTS: The respondents of this survey are individuals who
have signed a contract with the Armed Forces and are currently in the Department of Defense
Delayed Entry Program (DEP) working directly with their recruiter while awaiting an opening
slot for entry into basic training. The respondents are also cadets in the Reserve Officers’
Training Corps (ROTC), Junior Reserve Officers’ Training Corps (JROTC) and to active duty
servicemembers who reach their first duty station.
4. TYPE OF COLLECTION (ADMINISTRATION OF THE INSTRUMENT):
a.

How will you collect the information? (Check all that apply)
[ x ] Web-based or other forms of Social Media
[ ] In-person
[ ] Small Discussion Group
[ ] Other, Explain ______________________

[ ] Telephone
[ ] Mail
[ ] Focus Group

b. Will interviewers or facilitators be used?
[ ] Yes [ ] No [ x] Not Applicable
5. FOCUS GROUP OR SURVEY:
If you plan to conduct a focus group or survey, please provide answers to the following
questions:
a. Do you have a customer list or something similar that defines the universe of potential
respondents and do you have a sampling plan for selecting from this universe?
[ ] Yes [ ] No [ x ] Not Applicable

1

b. If the answer is yes, please provide a description below. If the answer is no, please
provide a description of how you plan to identify your potential group of respondents and
how you will select them?
The Consumer Financial Protection Bureau (CFPB) has in place an online financial
education eLearning program for recruits in the Department of Defense Delayed Entry
Program (DEP), cadets in the Reserve Officers’ Training Corps, junior cadets in Junior
Reserve Officers’ Training Corps and active duty servicemembers who reach their first duty
station. The participants who receive this training will also receive the survey as part of the
training program.

6. INFORMATION COLLECTION PROCEDURES
Please summarize the procedures that will be used to collect data from respondents.
We will continue to use the existing pre/post survey vehicle which currently exists in the
Misadventures in Money Management (MiMM) program. The recruiter/comander/senior
enlisted officer provides the URL to the participant. The program begins with a video
overview and then the pre-assessment begins. Once the participant completes all six
character missions, the post-assessment begins. Once the post-assessment is complete the
participant will receive their certificate of completion.
We currently have 14,400 participants who have completed the entire program and 23,400
have accessed the program. We have reached our survey goal for Delayed Entry Personnel.
We will leave the pre-assessment and post-assessment questions in place to continuously
collect feedback from 20% of the overall program’s new participant population by randomly
selecting participants who access the program from all Service lines. We estimate a new
population of participants will average around 11,000 per year. Some services have
expressed a need to use the survey to meet a requirement for financial training. Should the
training become required, we will make it service agnostic and turn on the survey for
everyone in that service.
7. PERSONALLY IDENTIFIABLE INFORMATION:
a. Is personally identifiable information (PII) collected? [ ] Yes [x ] No
b. If Yes, is the information that will be collected included in records that are subject
to the Privacy Act of 1974? [ ] Yes [ ] No [x ] Not Applicable
c. If Applicable, has a System or Records Notice (SORN) been published?
[ ] Yes [ ] No [x ] Not Applicable
If yes, cite the SORN.
Title:___________________________________
___ FR _______________.

d. If applicable, what is the link the Privacy Impact Assessment (PIA)?

2

8. INCENTIVES:
a. Is an incentive provided to participants? [ ] Yes [ x ] No
b. If Yes, provide the amount or value of the incentive? $___________.
c. If Yes, provide a statement justifying the use and amount of the incentive.
9. ASSURANCES OF CONFIDENTIALITY:
a. Will a pledge of confidentiality be made to respondents? [ ] Yes [x ] No
b. If Yes, please cite the statue, regulation, or contractual terms supporting the pledge.
10. JUSTIFICATION OF SENSITIVE QUESTIONS (if applicable): N/A

11. BURDEN HOURS:
Category of Respondent
MiMM Pre-Assessment
MiMM Post-Assessment
Ongoing annual pre and
post-assessment survey
(3% of total population)
Totals

Number of
Respondents

Frequency

Number of
Responses

2,200
2,200
700

1
1
1

2,200
2,200
700

Response
Time
(hours)
.17
.27
.44

2,900*

//////////////

5,100

////////////

* Respondents to the Post-Assessment surveys are a subset of those who respondent to Pre-Assessment.

12. FEDERAL COST: The estimated annual cost to the Federal government is $_39,072__.
13. CERTIFICATION:
CERTIFICATION PURSUANT TO 5 CFR 1320.9, AND THE RELATED PROVISIONS
OF 5 CFR 1320.8(b)(3) :
By submitting this document, the Bureau certifies the following to be true:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It uses plain, coherent, and unambiguous terminology that is understandable to
respondents;
(d) Its implementation will be consistent and compatible with current reporting and
recordkeeping practices;
(e) It indicates the retention period for recordkeeping requirements;
3

Burden
(hours)
374
594
308
1,276

(f) It informs respondents of the information called for under 5 CFR 1320.8(b)(3):
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(g) 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;
(h) It uses effective and efficient statistical survey methodology; and
(i) It makes appropriate use of information technology .
CERTIFICATION FOR INFORMATION COLLECTIONS SUBMITTED UNDER A
GENERIC INFORMATION COLLECTION PLAN
By submitting this document, the Bureau certifies the following to be true:
 The collection is voluntary.
 The collection is low-burden for respondents.
 The collection is non-controversial and does not raise issues of concern to other federal
agencies.
 Information gathered will not be used for the purpose of substantially informing influential
policy decisions.
 The collection is not statistically significant; the results are not intended to be generalizable
beyond the survey population.
 The results will not be used to measure regulatory compliance or for program evaluation.

###

4