[Federal Register Volume 87, Number 22 (Wednesday, February 2, 2022)]
[Notices]
[Pages 5803-5804]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-02090]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2022-0007]


Agency Information Collection Activities: Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comment.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA), 
the Consumer Financial Protection Bureau (CFPB or Bureau) is publishing 
this notice seeking comment on a Generic Information Collection titled 
``Financial Well-Being Scale Malleability Survey'' prior to requesting 
the Office of Management and Budget's (OMB's) approval of this 
collection under the Generic Information Collection ``Generic 
Information Collection Plan for Studies of Consumers using Controlled 
Trials in Field and Economic Laboratory Settings'' under OMB Control 
Number 3170-0048.

DATES: Written comments are encouraged and must be received on or 
before March 4, 2022 to be assured of consideration.

ADDRESSES: You may submit comments, identified by the title of the 
information collection, OMB Control Number (see below), and docket 
number (see above), by any of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include Docket No. CFPB-
2022-0007 in the subject line of the email.
     Mail/Hand Delivery/Courier: Comment Intake, Consumer 
Financial Protection Bureau (Attention: PRA Office), 1700 G Street NW, 
Washington, DC 20552.
    Please note that due to circumstances associated with the COVID-19 
pandemic, the Bureau discourages the submission of comments by mail, 
hand delivery, or courier. Please note that comments submitted after 
the comment period will not be accepted. In general, all comments 
received will become public records, including any personal information 
provided. Sensitive personal information, such as account numbers or 
Social Security numbers, should not be included.

FOR FURTHER INFORMATION CONTACT: Documentation prepared in support of 
this information collection request is available at 
www.regulations.gov. Requests for additional information should be 
directed to Anthony May, Paperwork Reduction Act Officer, at (202) 841-
0544, or email: [email protected]. If you require this document in an 
alternative electronic format, please contact 
[email protected]. Please do not submit comments to these 
email boxes.

SUPPLEMENTARY INFORMATION:
    Title of Collection: Financial Well-Being Scale Malleability 
Survey.
    OMB Control Number: 3170-0048.
    Type of review: Submission of an IC under a generic information 
collection.
    Affected Public: Individuals.
    Estimated Number of Respondents: 4,000.
    Estimated Total Annual Burden Hours: 1,000.
    Abstract: The proposed research examines the malleability of 
individuals' responses to CFPB's Financial Well-Being Scale and/or 
changes to attitudes and behaviors based on completion of the scale. 
Financial practitioners and researchers use the CFPB Financial Well-
Being Scale to measure financial well-being. This experiment will 
illustrate whether completion of the Financial Well-Being Scale 
immediately after using a financial tool (e.g., creating a budget) 
results in either higher or lower Financial Well-Being scores than 
completing the Scale without such a tool. The experiment will also test 
the robustness of the type of instrument used by testing both versions 
of the instrument (the five item Financial Well-Being Scale and the 10 
item Financial Well-Being Scale). A maximum of 4,000 participants will 
be recruited from the panel maintained by the Understanding America 
Study (UAS) to complete the Financial Well-Being Scale Malleability 
Survey. The Bureau will collect information on financial well-being and 
information related to the budgeting tool including an assessment of 
the respondent's experience using the tool, estimates of monthly income 
and spending, as well as questions about financial goals, budgeting, 
self-efficacy, and willingness to use such a tool in the future. The 
CFPB will not receive any personal identifiable information (PII).
    Request for Comments: The Bureau is publishing this notice and 
soliciting comments on: (a) Whether the collection of information is 
necessary for the proper performance of the functions of the Bureau, 
including whether the information will have practical utility; (b) The 
accuracy of the Bureau's estimate of the burden of the collection of 
information, including the validity of the methods and the assumptions 
used; (c) Ways to enhance the quality, utility, and clarity of the 
information to be

[[Page 5804]]

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. 
Comments submitted in response to this notice will be submitted to OMB 
as part of its review of this request. All comments will become a 
matter of public record.

Anthony May,
Paperwork Reduction Act Officer, Consumer Financial Protection Bureau.
[FR Doc. 2022-02090 Filed 2-1-22; 8:45 am]
BILLING CODE 4810-AM-P