[Federal Register Volume 76, Number 212 (Wednesday, November 2, 2011)]
[Notices]
[Pages 67668-67669]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-28337]


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 Notices
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 This section of the FEDERAL REGISTER contains documents other than rules 
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  Federal Register / Vol. 76, No. 212 / Wednesday, November 2, 2011 / 
Notices  

[[Page 67668]]



BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2011-0034]


Proposed Collection; Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for public comment.

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SUMMARY: 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 (44 U.S.C. 3506(c)(2)(A)).
    Currently, the CFPB is soliciting comments concerning a proposed 
generic information collection for development and/or testing of model 
forms, disclosures, tools, and similar related materials. The CFPB will 
collect information in connection with the development and testing of 
new model forms, disclosures, tools, and similar related materials 
pursuant to the CFPB's authority with respect to Federal consumer 
financial laws and the Dodd-Frank Wall Street Reform and Consumer 
Protection Act, Public Law 111-203, as well as testing existing model 
forms and disclosures.

DATES: Written comments are encouraged and must be received on or 
before January 3, 2012 to be assured of consideration.

ADDRESSES: You may submit comments, identified by docket number CFPB-
2011-0034, by any of the following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Mail: Mitchell E. Hochberg or Jane Gao, Office of 
Regulations, Consumer Financial Protection Bureau, 1500 Pennsylvania 
Avenue NW. (Attn: 1801 L Street), Washington, DC 20220.
     Hand Delivery/Courier: Mitchell E. Hochberg or Jane Gao, 
Office of Regulations, Consumer Financial Protection Bureau, 1700 G 
Street NW., Washington, DC 20006.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Mitchell E. Hochberg or Jane Gao, Consumer 
Financial Protection Bureau, (202) 435-7700.

SUPPLEMENTARY INFORMATION:
    Title: Generic Clearance for Development and/or Testing of Model 
Forms, Disclosures, Tools, and Other Similar Related Materials.
    OMB Number: 3170-XXXX.
    Summary of Collection: The Dodd-Frank Wall Street Reform and 
Consumer Protection Act, Public Law 111-203 (the ``Dodd-Frank Act'') 
and Federal consumer financial laws authorize or require the Bureau of 
Consumer Financial Protection (the ``CFPB'' or the ``Bureau'') to 
develop and prescribe standard model forms, disclosures, tools, and 
other similar related materials that help to inform consumers about 
complex financial information related to consumer financial products. 
Further, such model forms, disclosures, tools, and other similar 
related materials covered entities may assist covered entities in 
complying with applicable regulations. The model forms, disclosures, 
tools, and other similar related materials may also include 
adjustments, additions, exceptions, or revisions to the disclosures 
under the Dodd-Frank Act and federal consumer financial laws consistent 
with the CFPB's statutory authorities.
    The CFPB expects to collect qualitative data through a variety of 
collection methods, including interviews and research, to inform the 
design, development and implementation of the model form(s). The 
information collected through qualitative evaluation methods will 
inform the design and content of the model form(s), using an iterative 
process to improve the draft forms. For example, information collected 
from consumers will help the CFPB to design model forms, disclosures, 
tools, and similar related materials that are responsive to consumer 
needs and present complex information in an understandable form. 
Further, information collection from covered entities will help the 
CFPB to ensure that any such materials can be implemented as easily and 
cost-effectively as possible.
    The development and evaluation process that will be conducted may 
use think-aloud interviews and usability studies. Data collection tools 
will include: consent forms; participant questionnaires and protocols 
for individual interviews. The CFPB may also collect information 
regarding forms of disclosures and other materials currently used by 
covered entities with respect to regulations issued by the CFPB. The 
CFPB further anticipates that it may collect data through the use of 
internet applications.
    The CFPB 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, subject to privacy protections, and is 
not retained;
     Information gathered and released beyond the CFPB 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, 
evaluate, and refine specific features of the content or design of the 
model forms, disclosures, tools, and other similar related materials 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

[[Page 67669]]

that are designed to yield statistically significant results from a 
representative sample.
    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 with respect to up to 
approximately twelve (12) design and testing projects.

----------------------------------------------------------------------------------------------------------------
                                                                Number of      Average burden
                 Process                      Number of       responses per     per response      Total burden
                                             Respondents       respondent         (minutes)          (hours)
----------------------------------------------------------------------------------------------------------------
Informational outreach..................               300                 1               120               600
Screening...............................              5000                 1                15              1250
One-on-one interviews...................               800                 1                90              1200
Travel time to sites....................               800  ................                60               800
Internet Application Feedback...........              7000                 1                15              1750
                                         -----------------------------------------------------------------------
    Total...............................  ................  ................  ................              5600
----------------------------------------------------------------------------------------------------------------

    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 will have practical utility; (b) the accuracy 
of the agency's estimate of the burden of the proposed collection of 
information, including the validity of the methodology and assumptions 
used; (c) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (d) ways to minimize the burden of the 
collection of information on respondents, including through the use of 
automated, electronic, mechanical, or other technological collection 
techniques or other forms of information technology. 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,
PRA Clearance Officer, Department of the Treasury.
[FR Doc. 2011-28337 Filed 11-1-11; 8:45 am]
BILLING CODE 4810-AM-P