Generic Information Collection Plan for the Development and Testing of Disclosures and Related Materials

ICR 201909-3170-001

OMB: 3170-0022

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2019-12-06
Supporting Statement B
2019-09-12
Supporting Statement A
2019-12-06
IC Document Collections
ICR Details
3170-0022 201909-3170-001
Active 201512-3170-001
CFPB
Generic Information Collection Plan for the Development and Testing of Disclosures and Related Materials
Reinstatement with change of a previously approved collection   No
Regular
Approved with change 12/06/2019
Retrieve Notice of Action (NOA) 09/20/2019
  Inventory as of this Action Requested Previously Approved
12/31/2022 36 Months From Approved
73,800 0 0
25,463 0 0
0 0 0

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.

PL: Pub.L. 111 - 203 1032, 1418, 1420, 1463 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection
  
None

Not associated with rulemaking

  84 FR 27771 06/14/2019
84 FR 49517 09/20/2019
Yes

1
IC Title Form No. Form Name
Debt Collection Validation Notice Qualitative Testing

  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 73,800 0 0 73,800 0 0
Annual Time Burden (Hours) 25,463 0 0 25,463 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
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.
09/20/2019


© 2024 OMB.report | Privacy Policy