[Federal Register Volume 88, Number 164 (Friday, August 25, 2023)]
[Notices]
[Pages 58252-58253]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-18349]


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CONSUMER FINANCIAL PROTECTION BUREAU

[Docket No. CFPB-2023-0042]


Agency Information Collection Activities: Comment Request

AGENCY: Consumer Financial Protection Bureau.

ACTION: Notice and request for comment.

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[[Page 58253]]

SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA), 
the Consumer Financial Protection Bureau (CFPB) is requesting the 
Office of Management and Budget's (OMB's) approval for a new 
information collection titled ``CFPB National Age-Friendly Banking 
Survey.''

DATES: Written comments are encouraged and must be received on or 
before September 25, 2023 to be assured of consideration.

ADDRESSES: 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. 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: Requests for additional information 
should be directed to Anthony May, Paperwork Reduction Act Officer, at 
(202) 435-7278, 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: CFPB National Age-Friendly Banking Survey.
    OMB Control Number: 3170-00XX.
    Type of Review: New collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 5,528.
    Estimated Total Annual Burden Hours: 817.
    Abstract: Older adults are increasingly becoming an important 
customer base for banks and credit unions. This proposed survey 
examines how banking experiences may vary as people age and how they 
may differ for specific subpopulations of older adults that face unique 
challenges related to accessibility and quality of banking services 
(such as older adults living in rural communities, older adults of 
color, and the oldest segment of the population (75 and older)). 
Additionally, the survey will enable the CFPB to understand the 
experiences of older adults with banking, including challenges and 
opportunities for adoption of ``age-friendly'' account features. The 
survey will collect information on respondents' experiences with their 
primary bank or credit union specifically regarding:
     Background information about type of institution, length 
and quality of the relationship;
     Importance, availability, and use of ``age-friendly'' 
banking features;
     Experiences with fraud and scams and financial caregiving 
involving accounts with their primary bank;
     Use and accessibility of banking services; and
     Other aspects of the relationship with their primary 
financial institution, including credit and loans.
    The survey is supplemented with existing panelists' responses to 
demographic, geographic, and financial questions. The results will 
inform:
     CFPB's age-friendly banking educational, regulatory, and 
policy work;
     Banks, lenders, and financial institutions' initiatives 
and resources focused on financial inclusion of older adults; and
     State, local, and community entities seeking to strengthen 
the financial inclusion component of their ``age-friendly'' community 
plans.
    The data gathered through this survey will empower many other 
governmental, nonprofit, and other entities to conduct analysis on 
topics of interest relevant to their work. These entities can apply 
their findings to enhance consumer protections and expand age-friendly 
banking products and services nationwide.
    Request for Comments: The CFPB published a 60-day Federal Register 
notice on May 22, 2023 (88 FR 32757) under Docket Number: CFPB-2023-
0035. The CFPB 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 CFPB, including whether the 
information will have practical utility; (b) The accuracy of the CFPB'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 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 reviewed by 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. 2023-18349 Filed 8-24-23; 8:45 am]
BILLING CODE 4810-AM-P