[Federal Register Volume 76, Number 52 (Thursday, March 17, 2011)]
[Notices]
[Pages 14667-14668]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-6173]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of information collection to be submitted to OMB for 
review and approval under the Paperwork Reduction Act of 1995.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that 
it is submitting to the Office of Management and Budget (OMB) a request 
for OMB review and approval of revisions to the survey collection 
instruments for its second National Survey of Banks' Efforts to Serve 
the Unbanked and Underbanked (``Bank Survey''), currently approved 
under OMB Control No. 3064-0158, scheduled to be conducted in mid-2011. 
On December 23, 2010 (75 FR 71437), the FDIC issued a request for 
comment on possible revisions to the Bank Survey. No comments were 
received.
    The collection is mandated by section 7 of the Federal Deposit 
Insurance Reform Conforming Amendments Act of 2005 (``Reform Act'') 
(Pub. L. 109-173), which calls for the FDIC to conduct ongoing surveys 
on efforts by insured depository institutions to bring those 
individuals and families who have rarely, if ever, held a checking 
account, a savings account or other type of transaction or check 
cashing account at an insured depository institution (hereafter in this 
section referred to as the `unbanked') into the conventional finance 
system. In addition to gathering information on the efforts of FDIC-
insured depository institutions to bring unbanked individuals and 
families into the conventional finance system, the Bank Survey collects 
information on their efforts to serve underbanked populations. 
Underbanked populations include individuals who have an account with an 
insured depository but also rely on nonbank alternative financial 
service providers for transaction services or high cost credit 
products.

DATES: Comments must be submitted on or before April 18, 2011.

ADDRESSES: Interested parties are invited to submit written comments by 
any of the following methods. All comments should refer to the 
``National Survey on Banks' Efforts to Serve the Unbanked and 
Underbanked'': http://www.FDIC.gov/regulations/laws/federal/.
    E-mail: [email protected]. Please include the name and number of 
the collection (i.e., National Survey on Banks' Efforts to Serve the 
Unbanked and Underbanked, OMB No. 3064-0158) in the subject line of the 
message.
    Mail: Leneta Gregorie (202-898-3719), Counsel, Legal Division, 
Federal Deposit Insurance Corporation, 550 17th Street, NW., 
Washington, DC 20429.
    Hand Delivery: Comments may be hand-delivered to the guard station 
at the rear of the 550 17th Street Building (located on F Street), on 
business days between 7 a.m. and 5 p.m.

FOR FURTHER INFORMATION CONTACT: Interested members of the public may 
obtain additional information about the collection, including a copy of 
the proposed collection and related instructions, without charge, by 
contacting Leneta Gregorie at the address identified above, or by 
calling (202) 898-3719. Copies of the survey instruments may also be 
accessed on-line, at http://www.fdic.gov/regulations/laws/federal/index.html, directly beneath the link to this Federal Register notice.

SUPPLEMENTARY INFORMATION: The National Survey on Banks' Efforts to 
Serve the Unbanked and Underbanked (Bank Survey) collection of 
information consists of two related survey instruments: (1) A survey of 
insured depository institution headquarters offices regarding corporate 
business strategies for serving the unbanked and underbanked, including 
bank product and services available to these households; and (2) a 
survey of branches of insured depository institutions regarding 
specific methods used to reach the underserved and specific products 
and services offered at each location. The estimated burden for the 
surveys is as follows:

1. Headquarters Survey

    OMB Number: 3064-0158.
    Frequency of Response: once.
    Affected Public: FDIC-insured depository institutions headquarters 
offices.
    Estimated Number of Respondents: 469.
    Estimated Time per Response: 30 minutes per respondent.
    Estimated Burden: 0.5 hours x 469 respondents = 234.5 hours.

2. Branch Office Survey

    OMB Number: 3064-0158.
    Frequency of Response: Once.
    Affected Public: FDIC-insured depository institutions branch 
offices.
    Estimated Number of Respondents: 1,300.
    Estimated Time per Response: 30 minutes per respondent.
    Estimated Burden: 0.5 hours x 1,300 respondents = 650 hours.
    Total estimated burden for this collection: 234.5 hours + 650 hours 
= 884.5 hours.

General Description of Collection

    The FDIC has a number of initiatives underway to encourage 
practical solutions to ensure that all consumers have reasonable access 
to full service banking and other financial services. The FDIC believes 
that insured depositories can provide a path into the financial 
mainstream for those who need these financial services, and that 
depository institutions can create an array of affordable 
transactional, savings, and lending services to meet the needs of all 
their customers. Currently, a significant segment of the population 
relies on a mix of non-bank financial service providers for their 
needs. The FDIC has undertaken a series of investigations in this area, 
including the Bank Survey. The survey is mandated by section 7 of the 
Reform Act, which calls for the FDIC to conduct ongoing surveys ``on 
efforts by insured depository institutions to bring those individuals 
and families who have rarely, if ever, held a checking account, a 
savings account or other type of transaction or check cashing account 
at an insured depository institution (hereafter in this section 
referred to as the `unbanked') into the conventional finance system.'' 
The Reform Act specifically mandates that the FDIC consider the 
following factors and questions in conducting the survey:
    ``(A) To what extent do insured depository institutions promote

[[Page 14668]]

financial education and financial literacy outreach?''
    ``(B) Which financial education efforts appear to be the most 
effective in bringing `unbanked' individuals and families into the 
conventional finance system?''
    ``(C) What efforts are insured institutions making at converting 
`unbanked' money order, wire transfer, and international remittance 
customers into conventional account holders?''
    ``(D) What cultural, language and identification issues as well as 
transaction costs appear to most prevent `unbanked' individuals from 
establishing conventional accounts?''
    ``(E) What is a fair estimate of the size and worth of the 
`unbanked' market in the United States?''
    In connection with these mandated objectives, the FDIC seeks to 
identify and quantify the extent to which institutions serve the needs 
of the unbanked and underbanked; identify the characteristics of 
institutions that are reaching out to and serving the unbanked and 
underbanked; identify efforts (for example, practices, programs, 
alliances) of institutions to serve the unbanked and underbanked; and 
identify potential barriers that affect the ability of institutions to 
serve the unbanked and underbanked.
    In its inaugural survey effort, the first of its kind to be 
conducted at the national level, the FDIC conducted a two-pronged 
survey--a sample survey of FDIC-insured depository institutions and a 
limited number of case studies of FDIC-insured depository institutions 
that were employing innovative methods to serve unbanked and 
underbanked populations. The results of the initial survey effort, 
which were released in February 2009, showed that while most banks were 
aware of significant unbanked and underbanked populations in their 
areas, more could be done to reach out to these important markets. A 
copy of the survey findings can be accessed at the following link: 
http://www.fdic.gov/unbankedsurveys/. In this second Bank Survey, the 
FDIC proposes to survey FDIC-insured depository institutions at the 
headquarters and branch office level on their efforts to meet the needs 
of underserved populations. By so doing, the survey will provide 
insights into relevant headquarter strategies as well as offerings at 
the branch level. This approach will also enable the FDIC to analyze 
survey results by bank size class as well as by geographic location, 
including the potential to identify differentiated efforts of branch 
offices located in low to-moderate income areas.

Request for Comment

    Comments are invited on: (a) Whether the collection of information 
is necessary for the proper performance of the FDIC's functions, 
including whether the information has practical utility; (b) the 
accuracy of the estimates of the burden of the information collection; 
(c) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (d) ways to minimize the burden of the 
information collection on respondents, including through the use of 
automated collection techniques or other forms of information 
technology. The FDIC will consider all comments to determine the extent 
to which the proposed information collection should be modified prior 
to submission to OMB for review and approval. After the comment period 
closes, comments will be summarized or included in the FDIC's request 
to OMB for approval of the collection. All comments will become a 
matter of public record.

    Dated at Washington, DC, this 11th day of March 2011.

Federal Deposit Insurance Corporation.
Pamela Johnson,
Regulatory Editing Specialist.
[FR Doc. 2011-6173 Filed 3-16-11; 8:45 am]
BILLING CODE 6714-01-P