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[Federal Register Volume 77, Number 181 (Tuesday, September 18, 2012)]
[Notices]
[Pages 57560-57561]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-22990]

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BUREAU OF CONSUMER FINANCIAL PROTECTION

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

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comment.

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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 take this 
opportunity to comment on a proposed information collection, as 
required by the Paperwork Reduction Act of 1995. The Bureau is 
soliciting comments concerning its proposed information collection 
titled, ``Pentagon Federal Credit Card Agreement Simplification 
Survey.'' The proposed collection has been submitted to the Office of 
Management and Budget for review and approval. A copy of the 
submission, including copies of the proposed collection and supporting 
documentation, may be obtained by contacting the agency contact listed 
below.

DATES: Written comments are encouraged and must be received on or 
before October 18, 2012 to be assured of consideration.

ADDRESSES: You may submit comments, identified by agency name and 
collection title, ``Pentagon Federal Credit Card Agreement 
Simplification Survey,'' to:
     Agency: Consumer Financial Protection Bureau (Attention: 
PRA Office), 1700 G Street NW., Washington, DC 20552; (202) 435-9011; 
and CFPB_Public_PRA@cfpb.gov.
     OMB: Shagufta Ahmed, Office of Management and Budget, New 
Executive Office Building, Room 10235, Washington, DC 20503; (202) 395-
7873.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Consumer Financial Protection Bureau (Attention: 
PRA Office), 1700 G Street NW., Washington, DC 20552, (202) 435-9011, 
or through the internet at CFPB_Public_PRA@cfpb.gov.

SUPPLEMENTARY INFORMATION: Title: Pentagon Federal Credit Card 
Agreement Simplification Survey.
    OMB Control Number: 3170-XXXX.
    Type of Review: New.
    Abstract: The Bureau of Consumer Financial Protection (Bureau) 
respectfully requests emergency processing and approval of the 
collection of information discussed below because the proposed 
information collection is essential to the mission of the agency and 
the use of normal clearance procedures is reasonably likely to prevent 
collection. The Bureau of Consumer Financial Protection (Bureau) is 
requesting emergency approval from OMB to conduct qualitative research 
related to a short-form credit card agreement Pentagon Federal Credit 
Union (Pentagon Federal) is piloting this fall. The research is 
designed to result in recommendations for development of and revisions 
to the Bureau's approach to improving the readability of credit card 
agreements. The research activities will be conducted by phone surveys 
of consumers who will have received the agreements from Pentagon 
Federal. The feasibility and value of this approach has been 
demonstrated by other agencies in developing disclosures and other 
forms. The survey will provide illustrative qualitative information 
only, and does not constitute a quantitative information collection. 
Survey results will not be used to make statistically-valid assessments 
for the purposes of extrapolating to the broader US population. The 
planned research activities need to be conducted during calendar Q4 
2012 and calendar Q1 2013, as Pentagon Federal will send the short-form 
credit card agreement to new credit card holders in calendar Q4 2012 
and Q1 2013. As the survey includes questions that ask a consumer to 
recall their impression of the cardholder agreement, the survey must be 
administered shortly after initial receipt of the agreement, when those 
impressions remain fresh. The Bureau therefore requests emergency 
processing and approval of the information collection request as the 
normal clearance process would disrupt the collection.
    Affected Public: Individuals.
    Estimated Number of Responses: 500 affirmative responses, 500 
negative responses.
    Estimated Time per Respondent: 15 minutes per affirmative response, 
1 minute per negative response.
    Estimated Total Annual Burden Hours: 133.3 total burden hours.
    An agency may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection unless the 
information collection displays a currently valid OMB control number.
    Comments are being solicited on: (a) Whether the collection of 
information is necessary for the proper performance of the functions of 
the Bureau, including whether the information shall have

[[Page 57561]]

practical utility; (b) the accuracy of the Bureau'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.

    Dated: September 13, 2012.
Chris Willey,
Chief Information Officer, Bureau of Consumer Financial Protection.
[FR Doc. 2012-22990 Filed 9-17-12; 8:45 am]
BILLING CODE 4810-AM-P
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