[Federal Register Volume 89, Number 191 (Wednesday, October 2, 2024)]
[Notices]
[Pages 80306-80307]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-22585]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Proposed Information 
Collection; Submission for OMB Review; Information Collection for 
Qualitative Research on Consumer Trust in Banking and Bank Supervision

AGENCY:  Office of the Comptroller of the Currency (OCC), Treasury.

ACTION:  Notice and request for comment.

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SUMMARY:  The OCC, 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 new information 
collection as required by the Paperwork Reduction Act of 1995 (PRA). An 
agency may not conduct or sponsor, and the respondent is not required 
to respond to, an information collection unless it displays a currently 
valid Office of Management and Budget (OMB) control number. The OCC is 
soliciting comment concerning a new information collection titled 
``Qualitative Research on Consumer Trust in Banking and Bank 
Supervision.''

DATES:  Comments must be received by November 1, 2024.

ADDRESSES:  Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
    <bullet> Email: <a href="/cdn-cgi/l/email-protection#6c1c1e0d05020a032c030f0f42181e090d1f420b031a"><span class="__cf_email__" data-cfemail="255557444c4b434a654a46460b51574044560b424a53">[email protected]</span></a>.
    <bullet> Mail: Chief Counsel's Office, Attention: Comment 
Processing, Office of the Comptroller of the Currency, Attention: 1557-
NEW, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
    <bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
    <bullet> Fax: (571) 293-4835.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-NEW'' in your comment. In general, the OCC will publish comments 
on www.reginfo.gov without change, including any business or personal 
information provided, such as name and address information, email 
addresses, or phone numbers. Comments received, including attachments 
and other supporting materials, are part of the public record and 
subject to public disclosure. Do not include any information in your 
comment or supporting materials that you consider confidential or 
inappropriate for public disclosure.
    Written comments and recommendations for the proposed information 
collection should also be sent within 30 days of publication of this 
notice to www.reginfo.gov/public/do/PRAMain. You can find this 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
    You may review comments and other related materials that pertain to 
this information collection following the close of the 30-day comment 
period for this notice by the method set forth in the next bullet.
    <bullet> Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' tab and click on 
``Information Collection Review'' from the drop-down menu. From the 
``Currently under Review'' drop-down menu, select ``Department of 
Treasury'' and then click ``submit.'' This information collection can 
be located by searching OMB control number ``1557-NEW'' or 
``Information Collection for Qualitative Research on Consumer Trust in 
Banking and Bank Supervision.'' Upon finding the appropriate 
information collection, click on the related ``ICR Reference Number.'' 
On the next screen, select ``View Supporting Statement and Other 
Documents'' and then click on the link to any comment listed at the 
bottom of the screen.
    <bullet> For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, 
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of 
the Currency, 400 7th Street SW, Washington, DC 20219. If you are deaf, 
hard of hearing, or have a speech disability, please dial 7-1-1 to 
access telecommunications relay services.

SUPPLEMENTARY INFORMATION:  Under the PRA (44 U.S.C. 3501 et seq.), 
Federal agencies must obtain approval from the OMB for each collection 
of information that they conduct or sponsor. ``Collection of 
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to 
include agency requests or requirements that members of the public 
submit reports, keep records, or provide information to a third party. 
The OCC asks the OMB to approve the collection in this notice.
    Title: Information Collection for Qualitative Research on Consumer 
Trust in Banking and Bank Supervision.
    OMB Control No.: 1557-NEW.
    Type of Review: Regular.
    Affected Public: Individual consumers.
    Estimated Number of Respondents: 600 screener survey respondents; 
150 focus group participants (100 minimum completes).

[[Page 80307]]

    Estimated Average Time per Response: Screener survey: 1 response 
per respondent; Focus groups: 1 60-minute session per participant.
    Estimated Total Annual Burden: 180 hours (30 hours for screener 
survey and 150 hours for focus groups).
    Description: The OCC seeks to obtain OMB approval for a new 
information collection titled ``Qualitative Research on Consumer Trust 
in Banking and Bank Supervision.'' The collection of information 
through consumer focus groups is necessary to gain in-depth, 
qualitative insights into the factors influencing public trust and 
confidence in the banking system. Events such as the 2008 financial 
crisis and the 2023 failure of Silicon Valley Bank have highlighted the 
importance of understanding consumer perspectives on banking and the 
role of Federal regulatory oversight.
    The focus groups will explore how consumers differentiate between 
types of financial institutions, their usage of various banking 
products and services, their perceptions of what drives trust or 
distrust in banking, and their awareness of regulators' efforts to 
safeguard the system. These insights will directly inform the 
development of a large-scale survey instrument aimed at tracking and 
measuring consumer trust over time.
    Qualitative research plays a critical role in surfacing the 
language consumers use to talk about complex topics like trust as well 
as identifying key issues and themes that should be prioritized in the 
quantitative survey phase. Speaking directly with consumers allows 
their voices and experiences to shape the research from the ground up. 
The focus groups are thus a necessary foundational step to ensure the 
resulting survey asks the right questions in ways that resonate with 
the public.
    This information collection effort is necessary to enable the OCC 
to gather complementary quantitative data on levels of consumer trust 
in banking and bank supervision that will inform how the OCC approaches 
its mission to safeguard the financial stability of the banking system 
and promote consumer protection and economic inclusion.
    Comments: On January 08, 2024, the OCC published a 60-day notice 
for this information collection, 89 FR 984. No comments were received.
    Comments continue to be invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the OCC, including whether the 
information has practical utility;
    (b) The accuracy of the OCC's estimate of the burden of the 
collection of information;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of the collection on respondents, 
including through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2024-22585 Filed 10-1-24; 8:45 am]
BILLING CODE 4810-33-P


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