[Federal Register Volume 77, Number 149 (Thursday, August 2, 2012)]
[Notices]
[Page 46069]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-18830]



[[Page 46069]]

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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2012-0030]


Request for Information on Effective Financial Education

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for information.

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SUMMARY: The Dodd-Frank Wall Street Reform and Consumer Protection Act 
of 2010 (``Dodd-Frank'') established the Office of Financial Education 
(``OFE'') within the Bureau of Consumer Financial Protection (``CFPB'') 
to develop and launch initiatives that will educate consumers and help 
them make better informed financial decisions. The CFPB's OFE seeks 
public comment on effective financial education approaches--including 
tools, topics and dissemination strategies--that will help improve 
consumers' financial decision-making capabilities.

DATES: Comments must be received on or before October 31, 2012.

ADDRESSES: You may submit comments, identified by Docket No. CFPB-2012-
0030, by any of the following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Mail/Hand Delivery/Courier: Monica Jackson, Office of the 
Executive Secretary, Consumer Financial Protection Bureau, 1700 G 
Street NW., Washington, DC 20552.
    Instructions: The CFPB encourages the early submission of comments. 
All submissions must include the agency name, document title and docket 
number. Please note the number of the question you are answering at the 
top of each response (you do not need to answer all questions). 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 20552, on 
official business days between the hours of 10 a.m. and 5 p.m. Eastern 
Time. You can make an appointment to inspect the documents 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. Sensitive personal information such as 
account numbers or Social Security numbers should not be included. 
Comments will not be edited to remove any identifying or contact 
information.

FOR FURTHER INFORMATION CONTACT: For general inquiries and submission 
process questions, please contact Monica Jackson, Assistant Executive 
Secretary, Office of the Executive Secretary, at (202) 435-7275. For 
financial education questions, please contact Dubis Correal, Strategic 
Partnerships and Outreach Coordinator, Office of Financial Education, 
at (202) 435-7937.

SUPPLEMENTARY INFORMATION: The CFPB's OFE seeks public comment on 
effective financial education approaches that create opportunities for 
consumers to improve their financial decision making capabilities. OFE 
is interested in promoting innovation to assist consumers in solving 
common, discrete financial decision-making problems where behavioral 
approaches could be valuable. Some of these common financial decisions 
could be facilitated by a number of approaches that specifically 
address the behavioral impediments to progress. The questions listed 
below reflect one or more of the areas mentioned above. Please feel 
free to respond to any or all of the questions below and please be sure 
to indicate in your comments on which questions you are commenting. 
Comments could include, where appropriate, specific examples or related 
research and/or program evaluation that illustrate your comments.
    1. In your experience, what are consumers' most common financial 
decision-making challenges?
    2. Is there a common set (or lack) of habits, attitudes, or 
practices, and if so, what are they?
    3. What are the major challenges in providing financial education 
that would help adult consumers address the issues identified in 
questions 1 and 2, and that would lead to good financial outcomes for 
recipients?
    4. Given the five core areas \1\ (earning, spending, saving and 
investing, borrowing, and protecting) identified by the Financial 
Literacy and Education Commission in 2010, what skills are most helpful 
for building capability in the areas of spending, savings and 
borrowing? What information on these and other topics should the CFPB 
further develop and disseminate?
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    \1\ See Financial Education Core Competencies; Comment Request, 
Dept. of Treasury, Federal Register, Vol. 75, No. 165, pp. 52596-
52597 (Thursday, August 26, 2010) (avail. at: http://www.gpo.gov/fdsys/pkg/FR-2010-08-26/pdf/2010-21305.pdf).
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    5. How might CFPB effectively disseminate financial literacy and 
education resources that will help consumers build the necessary skills 
to achieve good financial outcomes?
    6. What financial education tools, topics, or practices designed to 
help consumers improve their own financial decision-making lead to 
measurable outcomes?
    7. What research in behavioral economics or other academic fields--
published or still in process--provides insight into financial 
education approaches that can help consumers achieve their own 
financial goals?

    Dated: July 27, 2012.
Garry Reeder,
Chief of Staff, Bureau of Consumer Financial Protection.
[FR Doc. 2012-18830 Filed 8-1-12; 8:45 am]
BILLING CODE 4810-AM-P