[Federal Register Volume 76, Number 139 (Wednesday, July 20, 2011)]
[Notices]
[Pages 43374-43375]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-18188]


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DEPARTMENT OF THE TREASURY


Proposed Collection; Comment Request

AGENCY: Department of the Treasury.

ACTION: Notice and request for comment.

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SUMMARY: The Department of the Treasury, on behalf of itself and the 
Bureau of Consumer Financial Protection (CFPB), as part of its 
continuing effort to reduce paperwork and respondent burden, invites 
the general public and other Federal agencies to take this opportunity 
to comment on proposed and/or continuing information collections, as 
required by the Paperwork Reduction Act of 1995, Public Law 104-13.
    Currently, the Department of the Treasury is soliciting comments 
concerning a proposed generic information collection for development 
and evaluation of integrated mortgage loan disclosures required by the 
Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law 
111-203.

DATES: Written comments are encouraged and must be received on or 
before September 19, 2011 to be assured of consideration.

ADDRESSES: Direct all written comments to Pamela Blumenthal, Consumer 
Financial Protection Bureau, 1801 L Street, NW., Washington, DC 20036.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Pamela Blumenthal, Consumer Financial Protection 
Bureau, 1801 L Street, NW., Washington, DC 20036; (202) 435-7167 or by 
e-mail at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Generic Clearance for Development and Qualitative Evaluation 
of Integrated Mortgage Loan Disclosure Forms.
    OMB Number: 1505-XXXX.

[[Page 43375]]

    Summary of Collection: The Dodd-Frank Wall Street Reform and 
Consumer Protection Act, Public Law 111-203, Title X, requires the 
Consumer Financial Protection Bureau (the``CFPB'' or the ``Bureau'') to 
develop model forms that will integrate separate disclosures concerning 
residential mortgage loans that are required under the Truth in Lending 
Act (``TILA'') and Real Estate Settlement Procedures Act (``RESPA''). 
The development of the integrated disclosures will involve qualitative 
testing of the disclosures given in connection with consummation of the 
transaction and may involve testing of additional disclosures required 
by TILA and RESPA during the shopping, application, and origination 
process. The CFPB will collect qualitative data through a variety of 
collection methods, which may include interviews, focus groups and the 
internet, to inform its design and development of the mandated 
integrated disclosures and their implementation. The information 
collected through qualitative evaluation methods will inform the 
disclosure form's design and content, using an iterative process to 
improve the draft form to make it easier for consumers to use the 
document to identify the terms of the loan, compare among different 
loan products, and understand the final terms of the loan transaction.
    The development and evaluation process that will be conducted may 
use focus group sessions, think-aloud interviews, and usability 
studies. Data collection tools will include: consent forms; participant 
questionnaires; protocols for individual interviews and focus groups; 
and tools that seek input from a larger community through the internet.
    The Bureau will only submit a collection for approval under this 
generic clearance if it meets the following conditions:
     The collections are voluntary;
     The collections are low-burden for respondents (based on 
considerations of total burden hours, total number of respondents, or 
burden-hours per respondent) and are low-cost for both the respondents 
and the Federal Government;
     Personally identifiable information (PII) is collected 
only to the extent necessary and is not retained;
     Information gathered and released beyond the Bureau will 
indicate the qualitative nature of the information; and
     Information gathered will yield qualitative information; 
the collections will not be designed or expected to yield statistically 
reliable results or used as though the results are generalizable to the 
population of study.
    The core objective of the data collection is to help identify and 
refine specific features of the content or design of the forms to 
maximize communication effectiveness while minimizing compliance 
burden. Feedback collected under this generic clearance provides useful 
information, but it does not yield data that can be generalized to the 
overall population. This type of generic clearance for qualitative 
information will not be used for quantitative information collections 
that are designed to yield reliably actionable results, such as 
monitoring trends over time or documenting program performance.
    As a general matter, information collections will not result in any 
new system of records containing privacy information and will not ask 
questions of a sensitive nature, such as sexual behavior and attitudes, 
religious beliefs, and other matters that are commonly considered 
private.
    Type of Review: New Collection.
    Affected Public: Individuals and businesses or other for-profit 
institutions.
    Annual Burden Estimates: Below is a preliminary estimate of the 
aggregate burden hours for this generic clearance.

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                                                                                      Average
                                                     Number of       Number of      burden per     Total burden
                     Process                        respondents    responses per     response          hours
                                                                    respondent       (minutes)
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Focus groups....................................              50               1              90              75
One-on-one interviews...........................              60               1              90              90
Screening.......................................             400               1              10              67
Travel time to site.............................             110  ..............              30              55
Internet tools..................................            5000               5               5           2,084
                                                 ---------------------------------------------------------------
    Total.......................................  ..............  ..............  ..............           2,371
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    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the proposed collection of information is necessary for 
the proper performance of the functions of the agency, including 
whether the information shall have practical utility; (b) the accuracy 
of the agency's estimate of the burden of the collection of 
information; (c) ways to enhance the quality, utility, and clarity of 
the information to be collected; (d) ways to minimize the burden of the 
collection of information on respondents, including through the use of 
automated collection techniques or other forms of information 
technology; and (e) estimates of capital or start-up costs and costs of 
operation, maintenance, and purchase of services to provide 
information. Burden means the total time, effort, or financial 
resources expended by persons to generate, maintain, retain, disclose 
or provide information to or for a Federal agency. This includes the 
time needed to review instructions; to develop, acquire, install and 
utilize technology and systems for the purpose of collecting, 
validating and verifying information, processing and maintaining 
information, and disclosing and providing information; to train 
personnel and to be able to respond to a collection of information, to 
search data sources, to complete and review the collection of 
information; and to transmit or otherwise disclose the information.

Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. 2011-18188 Filed 7-19-11; 8:45 am]
BILLING CODE 4810-25-P