Justification Memo - Qualitative Survey: How Money Smart Are You? Games Satisfaction Survey

Legal Division

550 17th Street NW, Washington, D.C. 20429-9990

Federal Deposit Insurance Corporation

September 29, 2020

Memorandum to: William Bestani, Policy Analyst

  Office of Information and Regulatory Affairs

Office of Management and Budget

 

From: Manny Cabeza, Regulatory Counsel

Federal Deposit Insurance Corporation

RE: Qualitative Survey: How Money Smart Are You? Games Satisfaction Survey

 

Under our “fast-track” generic clearance entitled “Occasional Qualitative Surveys” (3064-0127), the FDIC hereby submits for OMB approval the enclosed survey to gather satisfaction data from individuals who play any/all of the 14 financial education games in our new How Money Smart Are You? self-paced product during calendar years 2020 and 2021. Based on our current self-paced product, we anticipate 60,000 users each year for this new product, but only about 1/3 of these will likely complete the survey questions each year (20,000). Money Smart is FDIC’s comprehensive financial education curriculum designed to help individuals with low to moderate income who are outside the financial mainstream enhance their financial skills and create positive banking relationships. This survey continues the FDIC practice of using qualitative surveys to make quality improvements to products and services.

Purpose of survey. The purpose of this form is to gain feedback from those who play the games that are part of our new self-paced product to ensure that the games achieve our intended objectives. Feedback from the form will be used to consider potential changes in the How Money Smart Are You? games, such as the content and length. We will also use it to generate an estimate of satisfaction with the games, which we use in monthly and annual management reports, potentially including in a report that goes to Congress (the annual OMWI report).

Methodology. This form will be online as the final screen after a user has played a game. The short two-question survey is strictly voluntary, as there are no incentives or disincentives for not completing the questions.

 Burden Estimate

Estimated Average Number of Annual Respondents: 20,000

Frequency of Response: 1

Estimated Time per Response: 1 Minute

Total Estimated Annual Burden 333 hours