[Federal Register Volume 77, Number 12 (Thursday, January 19, 2012)]
[Notices]
[Pages 2684-2685]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-986]


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 Notices
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  Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / 
Notices  

[[Page 2684]]



BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2012-0003]


Proposed Collection; Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for public comment.

-----------------------------------------------------------------------

SUMMARY: The Bureau of Consumer Financial Protection (the ``CFPB'' or 
the ``Bureau''), as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to comment on a proposed information collection, as required 
by the Paperwork Reduction Act of 1995, Public Law 104-13. The Bureau 
is soliciting comments regarding a proposed information collection to 
identify financial education strategies that are effective in educating 
consumers to make better informed financial decisions, pursuant to the 
Bureau's authorities under 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 March 19, 2012 to be assured of consideration.

ADDRESSES: You may submit comments, identified by docket number CFPB-
2012-0003, by any of the following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Mail: Chris Willey, Consumer Financial Protection Bureau, 
1500 Pennsylvania Avenue NW. (Attn: 1801 L Street), Washington, DC 
20220.
     Hand Delivery/Courier in Lieu of Mail: Chris Willey, 
Consumer Financial Protection Bureau, 1801 L Street NW., Washington, DC 
20036.
    All submissions must include the agency name and docket number for 
this notice. In general all comments received will be posted without 
change to http://www.regulations.gov. In addition, comments will be 
available for public inspection and copying at 1700 G Street NW., 
Washington, DC 20006 on official business days between the hours of 10 
a.m. and 5 p.m. Eastern Time. You can make an appointment to inspect 
comments by telephoning (202) 435-7275. All comments, including 
attachments and other supporting materials, will become part of the 
public record and subject to public disclosure. You should submit only 
information that you wish to make available publicly.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Monica Jackson, Consumer Financial Protection 
Bureau, (202) 435-7275.

SUPPLEMENTARY INFORMATION:
    Title: Clearance for Financial Education Program Evaluation.
    OMB Number: 3170-XXXX.
    Summary of Collection: Under the Dodd-Frank Wall Street Reform and 
Consumer Protection Act, Public Law 111-203, the Bureau's Office of 
Financial Education (``OFE'') is responsible for developing and 
implementing a strategy to improve the financial literacy of consumers 
that includes measurable goals and initiatives, in consultation with 
the Financial Literacy and Education Commission, consistent with the 
National Strategy for Financial Literacy. The collection will focus on 
financial education program elements related to increasing household 
non-retirement savings and/or reducing financial distress.
    The CFPB expects to collect quantitative and qualitative data 
through in-person, telephone, or Internet based surveys. The 
information collected through quantitative and qualitative evaluation 
methods will increase OFE's understanding of what interventions can 
improve financial decisionmaking skills and outcomes for consumers.
    The core objective of the data collection is to measure the 
effectiveness of selected financial education programs. This data will 
provide useful information on evidence-based practices that can be used 
to improve financial education programs nationwide, leading to better 
financial decisionmaking outcomes for adult consumers.
    Type of Review: New Collection.
    Affected Public: Individuals.
    Annual Burden Estimates: Below is a preliminary estimate of the 
aggregate burden hours for the evaluation of five (5) financial 
education programs.

----------------------------------------------------------------------------------------------------------------
                                                                Number of      Average burden
                 Process                      Number of       responses per     per response      Total burden
                                             respondents       respondent         (minutes)          (hours)
----------------------------------------------------------------------------------------------------------------
In-person baseline surveys..............              2000                 1                60              2000
Travel time to sites....................              2000  ................                60              2000
Internet or phone-based follow-up                     2000                 4                60              4000
 surveys................................
                                         -----------------------------------------------------------------------
    Total...............................  ................  ................  ................              8000
----------------------------------------------------------------------------------------------------------------

    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

[[Page 2685]]

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.

    Dated: January 13, 2012.
Chris Willey,
Chief Information Officer, Consumer Financial Protection Bureau.
[FR Doc. 2012-986 Filed 1-18-12; 8:45 am]
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