[Federal Register Volume 86, Number 30 (Wednesday, February 17, 2021)]
[Notices]
[Pages 9934-9935]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-03110]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[MB No. 3064-NEW]


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

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Agency information collection activities: Submission for OMB 
review; comment request.

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SUMMARY: The FDIC, as part of its obligations under the Paperwork 
Reduction Act of 1995, invites the general public and other Federal 
agencies to take this opportunity to comment on the request to approve 
a new information collections for its seventh biennial survey of 
households, which has been renamed the Survey of Household Use of 
Banking and Financial Services (``Household Survey''). This survey was 
previously named the FDIC National Survey of Unbanked and Underbanked 
Households and was assigned OMB Control No. 3064-0167. FDIC is seeking 
a new OMB Control Number for this version of the survey. The Household 
Survey is scheduled to be conducted in partnership with the U.S. Census 
Bureau as a supplement to its June 2021 Current Population Survey 
(CPS). The survey collects information on U.S. households' use of bank 
accounts and other transaction accounts including prepaid cards, online 
payment services, nonbank financial transaction services, and bank and 
nonbank credit. The results of these ongoing surveys will be published 
in the FDIC's How America Banks reports which help inform policymakers, 
bankers, and researchers about how households use, or don't use, the 
banking system. On December 2, 2020, the FDIC requested comment for 60 
days on the proposed information collection. No comments were received. 
The FDIC hereby gives notice of its plan to submit to OMB a request to 
approve this information collection, and again invites comment on the 
information collection.

DATES: Comments must be submitted on or before March 19, 2021.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     https://www.FDIC.gov/regulations/laws/federal.
     Email: [email protected]. Include the name and number of 
the collection in the subject line of the message.
     Mail: Manny Cabeza (202-898-3767), Regulatory Counsel, MB-
3128, 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 17th Street Building (located on F Street), 
on business days between 7:00 a.m. and 5:00 p.m.
    Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to www.reginfo.gov/public/do/PRAMain. Find this particular information 
collection by selecting ``Currently under 30-day Review--Open for 
Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Manny Cabeza, Regulatory Counsel, 202-
898-3767, [email protected], MB-3128, Federal Deposit Insurance 
Corporation, 550 17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION: 
    Proposal to renew the following currently approved collection of 
information:
    Title: Survey of Household Use of Banking and Financial Services.
    OMB Number: 3064-NEW.
    Frequency of Response: Once.
    Affected Public: Individuals residing in U.S. Households.
    Estimated Number of Respondents: 40,000.
    Average time per response: 9 minutes per respondent.
    Estimated Total Annual Burden: 6,000 hours.

General Description of Collection

    The Survey of Household Use of Banking and Financial Services 
(``Household Survey'') supports the FDIC's mission of maintaining 
public confidence in the U.S. financial system. The Household Survey is 
also a key component of the FDIC's efforts to comply with a 
Congressional mandate contained in 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.'' Section 7 further instructs the FDIC to consider several 
factors in its conduct of the surveys, including: (1) ``What cultural, 
language and identification issues as well as transaction costs appear 
to most prevent `unbanked' individuals from establishing conventional 
accounts''; and (2) ``what is a fair estimate of the size and worth of 
the ``unbanked'' market in the United States.''
    The Household Survey collects information on bank account ownership 
which provides a factual basis for measuring the number and percentage 
of households that are unbanked.
    The Household Survey is the only population-representative survey 
conducted at the national level that provides state-level estimates of 
the size and characteristics of unbanked households for all 50 states 
and the District of Columbia. The Household Survey also collects 
information from unbanked households about the reasons that they do not 
have a bank account and their interest in having a bank account.
    Increasingly, financial products and services are provided by 
nonbanks, many through the use of a mobile phone app. Households are 
selecting different combinations of bank and nonbank financial products 
and services to meet their core banking needs. Consequently, the 
Household Survey has broadened its focus to include a wide range of 
bank and nonbank financial products and services and to collect 
information on whether and how households are using these in 
combination.
    To obtain this information, the FDIC partners with the U.S. Census 
Bureau, which administers the Household Survey supplement (``FDIC 
Supplement') to households that participate in the CPS. The FDIC 
supplement has been administered every other year since January 2009. 
The previous survey questionnaires and survey results can be accessed 
through the following link: http://www.economicinclusion.gov/surveys/. 
Interested members of the public may obtain a copy of the proposed 
survey questionnaire on the following web page: https://www.fdic.gov/regulations/laws/federal/2021/2021-survey-of-household-use-of-banking-and-financial-services.pdf.
    Consistent with the statutory mandate to conduct the surveys on an 
ongoing basis, the FDIC already has in place arrangements for 
conducting the

[[Page 9935]]

seventh Household Survey as a supplement to the June 2021 CPS. On 
December 2, 2020, the FDIC requested comment for 60 days on this 
proposed information collection to conduct the Household Survey.\1\ The 
FDIC received no comments.
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    \1\ 85 FR 77462 (December 2, 2020).
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Request for Comment

    Comments are again 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, 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 collection techniques or other forms of information 
technology. All comments will become a matter of public record.

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on February 10, 2021.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021-03110 Filed 2-16-21; 8:45 am]
BILLING CODE 6714-01-P