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[Federal Register Volume 77, Number 60 (Wednesday, March 28, 2012)]
[Notices]
[Pages 18794-18795]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-7466]

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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.

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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 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.

[[Page 18795]]

    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.
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    \1\ 12 U.S.C. s. 5493(b)(1).
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    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, paper-based written and visual 
prompts and responses; or through online multi-media 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:

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                                                                     Number of    Average burden
                     Process                         Number of    responses  per   per response    Total burden
                                                    respondents      respondent       minutes          hours
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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
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    Total.......................................           2,000              72              16           2,400
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    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
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