18794 Federal Register / Vol. 77, No. 60 / Wednesday, March 28, 2012 / Notices 

3506(c)(2)(A)). Currently, the Bureau is 

soliciting comments concerning the 

information collection efforts relating to 

Quantitative Testing of Integrated 

Mortgage Loan Disclosure Forms. 

DATES: Written comments must be 

received on or before May 29, 2012 to 

be assured of consideration. 

ADDRESSES: You may submit comments 

by any of the following methods: 

• Electronic: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Mail/Hand Delivery/Courier: Direct 

all written comments to Consumer 

Financial Protection Bureau, (Attention: 

Chris Willey, Chief Information Officer), 

1700 G Street NW., Washington, DC 

20552. 

Instructions: All submissions must 

include the agency name and docket 

number for this notice. In general, all 

comments 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 

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 only submit information 

that you wish to make available 

publicly. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information 

should be directed to Joseph Durbala, 

(202) 435–7893, at the Consumer 

Financial Protection Bureau, (Attention: 

Joseph Durbala, PRA Clearance 

Office),1700 G Street NW., Washington, 

DC 20552, or through the internet at 

Joseph.Durbala@cfpb.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Quantitative Testing of 

Integrated Mortgage Loan Disclosure 

Forms. 

OMB Number: 3170-xxxx. 

Abstract: The Dodd-Frank Wall Street 

Reform and Consumer Protection Act 

(Dodd-Frank Act), Public Law 111–203, 

Title X, requires the CFPB to develop 

disclosures that integrate separate 

disclosures concerning residential 

mortgage loans that are required under 

the Truth in Lending Act (TILA) and 

Real Estate Settlement Procedures Act 

(RESPA). The Dodd-Frank Act requires 

the Bureau to publish proposed 

integrated disclosures by July 21, 2012. 

The Bureau began developing the 

integrated disclosures in 2011, 

conducting qualitative testing of the 

disclosures given in connection with the 

application by the consumer and the 

consummation of the transaction. This 

qualitative testing has been conducted 

under Emergency Clearance Number 

1505–0233 and Generic Clearance 

Number 3170–0003. 

The Bureau proposes to conduct 

quantitative testing of the integrated 

disclosures after it publishes the 

proposed integrated disclosures. The 

purpose of the quantitative testing will 

be to examine whether the disclosures 

aid consumers in understanding the 

terms of the mortgage loan that is the 

subject of the disclosure. All 

information will be collected on a 

voluntary basis and consumers will 

receive usual and customary 

compensation for their participation. 

For the quantitative research, the 

Bureau plans to contract with a 

consumer research firm to formulate a 

quantitative testing plan, recruit 

respondents, as well as to conduct the 

testing and provide a report 

summarizing the results of the research. 

The results will assist the Bureau in 

determining the efficacy of the proposed 

integrated disclosures, in furtherance of 

the statutory purpose of the integrated 

disclosures under TILA and RESPA, 

which is, in part, to aid the consumer 

in understanding the transaction. 

Current Actions: Requesting new 

OMB approval number. 

Type of Review: New collection. 

Affected Public: Individuals or 

Households. 

Estimated Number of Responses per 

year: 2,000. 

Estimated Time per Respondent: 30 

minutes. 

Estimated Total Annual Burden 

Hours per year: 1,000. 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

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 collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information, including the validity of 

the methodology 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 costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Dated: March 20, 2012. 

Chris Willey, 

Chief Information Officer, Bureau of 

Consumer Financial Protection. 

[FR Doc. 2012–7463 Filed 3–27–12; 8:45 am] 

BILLING CODE 4810–AM–P 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

[Docket No. CFPB–2012–0011] 

Proposed Collection; Comment 

Request 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Notice and request for public 

comment. 

SUMMARY: The Bureau of Consumer 

Financial Protection (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 

(44 U.S.C. 3506(c)(2)(A)). Currently, the 

Bureau is soliciting comments on a 

proposed information collection to test 

online and print content the Bureau 

provides to consumers to help them 

achieve their financial goals and to 

better understand various financial 

products and services available to them, 

pursuant to the Bureau’s authorities 

under the Dodd-Frank Wall Street 

Reform and Consumer Protection Act 

(Dodd-Frank Act), Public Law 111–203. 

DATES: Written comments are 

encouraged and must be received on or 

before May 29, 2012 to be assured of 

consideration. 

ADDRESSES: You may submit comments, 

identified by docket number CFPB– 

2012–0011, by any of the following 

methods: 

• Electronic: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Mail/Hand Delivery/Courier: Direct 

all written comments to Consumer 

Financial Protection Bureau, 1700 G 

Street NW., (Attention: Chris Willey, 

Chief Information Officer), Washington, 

DC 20552. 


tkelley on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 77, No. 60 / Wednesday, March 28, 2012 / Notices 18795 

1 12 U.S.C. s. 5493(b)(1). 

Instructions: 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 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 

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 Joseph Durbala, 

(202) 435–7893, at the Consumer 

Financial Protection Bureau, (Attention: 

Joseph Durbala, PRA Clearance Office), 

1700 G Street NW., Washington, DC 

20552, or through the Internet at 

Joseph.Durbala@cfpb.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Generic Clearance for User 

Testing of Consumer Financial Products 

and Services. 

OMB Control Number: 3170–XXXX. 

Abstract: Under the Dodd-Frank Act, 

the Bureau is responsible for 

‘‘developing and implementing 

initiatives intended to educate and 

empower consumers to make better 

informed decisions.’’ The Dodd-Frank 

Act also directs the Bureau to research, 

analyze, and report on consumer 

awareness and understanding of, and 

behaviors with respect to, financial 

services and products and the 

associated costs and benefits.1 In 

keeping with the Bureau’s commitment 

to encouraging evidence-based practices 

to improve consumer financial 

outcomes, the Bureau exercises its 

authorities under the Act to measure the 

impacts of specific Bureau initiatives 

aimed at improving consumers’ 

financial literacy and decision-making 

skills. 

In service of these mandates, the 

Bureau intends to commission periodic 

user testing of information the Bureau 

provides to consumers to help them 

achieve their financial goals and to 

better understand various financial 

products and services available to them. 

The Bureau will also use this 

information collection to test methods 

for communicating that information to 

better understand the impact of 

particular information delivery 

methods’ on the attitudes, 

understanding, and behaviors of 

American adult consumers around 

issues of financial decision-making. 

These user testing collections will be 

conducted either in-person, using 

spoken prompts and responses, paperbased written and visual prompts and 

responses; or through online multimedia prompts and responses. The 

Bureau will employ a qualitative, 

iterative, testing methodology to assess: 

• The quality and impact of written 

and visual information, 

• Methods and media for 

communicating information, and 

• User experience scenarios for using 

information to assist in financial 

decision making. 

This information will inform the 

Bureau’s consumer engagement and 

education efforts, allowing it to improve 

its delivery of services to consumers and 

empower them to improve upon their 

financial-decision-making skills and 

outcomes. 

Current Actions: New generic 

collection request. 

Type of Review: New. 

Affected Public: Individuals or 

Households. 

Annual Burden Estimates: Below is a 

preliminary estimate of the aggregate 

burden hours for the information 

collections: 

Process Number of 

respondents 

Number of 

responses 

per 

respondent 

Average 

burden per 

response 

minutes 

Total burden 

hours 

Internet-based qualitative prototype testing .................................................... 500 18 3 450 

Internet-based qualitative concept testing ....................................................... 500 18 3 450 

In-person qualitative prototype testing ............................................................ 500 18 5 750 

In-person qualitative concept testing ............................................................... 500 18 5 750 

Total .......................................................................................................... 2,000 72 16 2,400 

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 

burden of the collection of information 

on respondents, including through the 

use of automated, collection techniques 

or other forms of information 

technology. 

Dated: March 20, 2012. 

Chris Willey, 

Chief Information Officer, Bureau of 

Consumer Financial Protection. 

[FR Doc. 2012–7466 Filed 3–27–12; 8:45 am] 

BILLING CODE 4810–AM–P 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

[Docket No. CFPB–2012–0012] 

Proposed Collection; Comment 

Request 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Notice and request for public 

comment. 

SUMMARY: The Bureau of Consumer 

Financial Protection (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 


tkelley on DSK3SPTVN1PROD with NOTICES