Consumer Protection Surveys

Forms and Documents

Document Name	Status
FR3053.20090925.omb.SS.Part-B.doc Supporting Statement B	2009-09-25
FR3053.20090925.omb.doc Supporting Statement A	2009-09-25

IC Document Collections

IC ID	Document Title	Status
190054	Stakeholder studies (Stakeholder staff) Other-Sample survey topics	New
190053	Stakeholder studies (Stakeholder clientele) Other-Sample survey topics	New
190052	Financial institution study (Financial institution staff) Other-Sample survey topics	New
190050	Consumer studies (Qualitative studies) Other-Sample survey topics	New
190049	Consumer studies (Financial institution consumers) Other-Sample survey topics	New
190048	Consumer studies (Quantitative and general studies) Other-Sample survey topics	New

ICR Details

OMB Control No: 7100-0323	ICR Reference No: 200907-7100-007
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FRS	Agency Tracking No: FR 3053
Title: Consumer Protection Surveys
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/25/2009
	Date Received in OIRA: 09/25/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2012	36 Months From Approved
Responses	11,700	0	0
Time Burden (Hours)	6,550	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Federal Reserve would use this event-driven survey to obtain information specifically tailored to the Federal Reserve's supervisory, regulatory, operational, informational, and other responsibilities. This voluntary survey would be used to gather qualitative and quantitative information directly from: consumers (consumer studies), financial institutions and other financial companies offering consumer financial products and services (financial institution study), and other stakeholders, such as state or local agencies, community development organizations, brokers, appraisers, settlement agents, software vendors, and consumer groups (stakeholder studies).

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Authorizing Statute(s): US Code: 42 USC 4012a Name of Law: Flood Disaster Protections Act of 1973, Section 102
   US Code: 12 USC 2804(a) Name of Law: Home Mortgage Disclosure Act, Section 305
   US Code: 12 USC 2905 Name of Law: Community Reinvestment Act, Section 806
   US Code: 12 USC 3806 Name of Law: Competitive Equality Banking Act, Section 1204
   US Code: 12 USC 4008 Name of Law: Expedited Funds Availability Act, Section 609
   US Code: 12 USC 4308 Name of Law: Truth in Saving Act, Section 269
   US Code: 15 USC 57a(f) Name of Law: Federal Trade Commission Act, Section 18(f)
   US Code: 15 USC 1667f Name of Law: Consumer Leasing Act of 1976, Section 187
   US Code: 15 USC 1604 Name of Law: Truth in Lending Act, Section 105
   US Code: 15 USC 1638(b)(2) Name of Law: Mortgage Disclosure Improvement Act, Sections 2501 through 2503 of the Housing and Economic Recove
   US Code: 15 USC 1638(e)(5) Name of Law: Higher Education Opportunity Act of 2008, Section 1021(a)
   US Code: 15 USC 1681s(e) Name of Law: Fair Credit Reporting Act, Section 621
   US Code: 15 USC 1691b(a) Name of Law: Equal Credit Opportunity Act, Section 703
   US Code: 15 USC 1693b Name of Law: Electronic Funds Transfer Act, Section 904
   US Code: 15 USC 6804 Name of Law: Gramm-Leach-Bliley Act, Section 504
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 34577	07/16/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 48967	09/25/2009
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 6

IC Title	Form No.	Form Name
Consumer studies (Qualitative studies)
Financial institution study (Financial institution staff)
Consumer studies (Quantitative and general studies)
Consumer studies (Financial institution consumers)
Stakeholder studies (Stakeholder clientele)
Stakeholder studies (Stakeholder staff)

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	11,700	0	0	11,700	0	0
Annual Time Burden (Hours)	6,550	0	0	6,550	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Board of Governors of the Federal Reserve System, under delegated authority from the Office of Management and Budget (OMB), proposes to implement the Consumer Protection Surveys (FR 3053)

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Annual Cost to Federal Government: $500,000

Does this IC contain surveys, censuses, or employ statistical methods? Yes Part B of Supporting Statement

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 09/25/2009

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