This is a request for a generic
clearance for the Consumer Financial Protection Bureau (“Bureau”)
for the development and testing of consumer financial disclosures
and related materials. The research will result in recommendations
for the development of and revisions to such disclosures and
related materials. The research activities may be conducted by the
Bureau or its contractors, and will include cognitive psychological
testing methods or rigorous quantitative evaluations. This approach
has been demonstrated to be feasible and valuable by the Bureau and
other agencies in developing disclosures and related materials. The
planned research activities will be conducted with the goal of
creating effective disclosures and related materials that will help
consumers understand the features of consumer financial products
and services. The Consumer Financial Protection Bureau is modifying
this generic information collection plan to provide for enhanced
public notice and opportunity to comment to OMB for each request
submitted under this generic.
The burden change results from
reinstating this generic information collection plan. Under the
previous approval, the estimated total three year burden was 63,000
responses and 26,775 hours. Based on research the Bureau has
conducted over the last several years, and its plans for upcoming
research studies, the Bureau has better estimates of what projects
it will pursue in the next three years.
$0
No
No
No
No
Yes
No
Uncollected
Darrin King 202-693-4129
King.Darrin@dol.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.