3170-0037 Supporting Statement (CAB) 2016 Renewal (30-day FRN)

30-day Federal Register Notice and OMB Review (2016 Renewal)

CONSUMER FINANCIAL PROTECTION BUREAU
INFORMATION COLLECTION REQUEST –
SUPPORTING STATEMENT PART A
APPLICATION FOR ADVISORY BOARDS, GROUPS, AND
COMMITTEES
(OMB CONTROL NUMBER: 3170-0037)

TERMS OF CLEARANCE: Not applicable. When the Office of Management and Budget
(OMB) last approved this information collection in July 2013 it provided no Terms of Clearance.
ABSTRACT: The Consumer Advisory Board (CAB) and other Advisory Groups may invite
individuals with special expertise to advise the groups on an ad hoc basis (Special Advisors).
The selection-related information will allow the Bureau to obtain information on the
qualifications of individuals nominated to the CAB and will aid the Bureau in selecting
members for other Advisory Groups. The selection-related information from potential Special
Advisors will aid the Bureau in selecting Special Advisors to the CAB and other Advisory
Groups. The selection-related information will also aid the Bureau in determining the
appropriateness of participation in particular matters. The information collected/advice from
members and Special Advisors will aid the Bureau in the exercise of its functions. The
feedback collected will allow the Bureau to evaluate and improve its advisory group program.
Information collected will be used to issue travel orders or provide reimbursement for travel
expenses, as applicable.
JUSTIFICATION
1.

Circumstances Necessitating the Data Collection

On July 21, 2010, President Barack Obama signed into law the Dodd-Frank Wall Street Reform
and Consumer Protection Act, P.L. 111-203, 124 Stat. 1376 (2010) (Dodd-Frank Act). Title
X of the Dodd-Frank Act created the Consumer Financial Protection Bureau (CFPB or the
Bureau) and provides that the Director of the CFPB “shall establish a Consumer Advisory
Board to advise and consult with the Bureau in the exercise of its functions under the Federal
consumer financial laws, and to provide information on emerging practices in the consumer
financial products or services industry, including regional trends, concerns, and other relevant
information.” See Dodd-Frank Act § 1014.
Pursuant to Section 1014(b) of the Dodd-Frank Act, in appointing members to the Consumer
Advisory Board (CAB), “the Director shall seek to assemble experts in consumer protection,
financial services, community development, fair lending and civil rights, and consumer
Page 1 of 7

30-day Federal Register Notice and OMB Review (2016 Renewal)

financial products or services and representatives of depository institutions that primarily
serve underserved communities, and representatives of communities that have been
significantly impacted by higher-priced mortgage loans, and seek representation of the
interests of covered persons and consumers, without regard to party affiliation.”
In addition to the CAB, the Bureau anticipates that it may establish additional advisory
boards, bodies, panels, groups, committees, pilot program advisors or other similar groups
(collectively referred to as “other Advisory Groups”) to advise and consult with the Bureau in
the exercise of its functions. Most of these other
Advisory Groups will be discretionary;
11
some may be required by the Dodd Frank Act.
Some, such as the CAB, may be formal,
with a charter, appointments made by the Director, etc.; others may be more informal. Two
additional Advisory Groups that the Bureau has already established are the Credit Union
Advisory Council and the Community Bank Advisory Council.
The CAB and other Advisory Groups may invite individuals with special expertise to advise
the groups on an ad hoc basis (Special Advisors).
The Bureau seeks a standard clearance from OMB to collect selection-related information from
nominees to the CAB, such as background information, information related to financial
holdings, and other supplemental information relevant to the application process. The Bureau
may collect similar information from potential candidates for other Advisory Groups, members
of other Advisory Groups, and Special Advisors to the CAB and other Advisory Groups, as
relevant to the particular group. The Bureau may use this information to screen potential
candidates for, members of, and advisors to CAB and other Advisory Groups for status as a
federally registered lobbyist and/or status as a convicted felon.
Once selected, Bureau staff may ask members of the CAB and other Advisory Groups and
Special Advisors, as part of their participation, to respond to questions, or to provide
information/advice based upon their expertise on issues before the CAB and other
Advisory Groups that are related to the Bureau’s exercise of its functions.
Collection instruments for the CAB include an application form with questions about assets
and income, affiliations and representations, financial interests and liabilities, and relevant
professional experience. Collection instruments for other Advisory Groups or for Special
Advisors also include these same types of questions as the CAB questions, as well as
questions about professional experience relevant to the particular group and/or certifications
regarding financial interests relevant to a particular group or a particular meeting or project.
1

1 For example, the Dodd-Frank Act requires the Bureau to comply with the Small Business Regulatory Fairness
Act (SBREFA) and to convene a review panel (SBREFA Panel) prior to issuing certain proposed rules. Once
convened, the SBREFA Panel meets with and collects feedback from representatives of small entities on the
potential impacts that a proposed rule may have on small entities subject to the rule and any significant, less
burdensome alternatives to the proposed rule that accomplish the objectives of applicable statutes.
Page 2 of 7

30-day Federal Register Notice and OMB Review (2016 Renewal)

Additionally, nominees, applicants, members, former members, and Special Advisors may be
asked to provide information/feedback on their experiences with the selection process or
participation in the group. Collection instruments include feedback forms and other similar
questionnaires about the experience on or with the CAB or other Advisory Groups, including
the experience with the Bureau’s information collections.
Collection instruments also include certifications, travel order forms and travel
reimbursement forms.
2.

Use of the Information

The selection-related information will allow the Bureau to obtain information on the
qualifications of individuals nominated to the CAB and will aid the Bureau in selecting
members for other Advisory Groups. The selection-related information from potential
Special Advisors will aid the Bureau in selecting Special Advisors to the CAB and other
Advisory Groups. The selection-related information will also aid the Bureau in determining
the appropriateness of participation in particular matters. The information collected/advice
from members and Special Advisors will aid the Bureau in the exercise of its functions. The
feedback collected will allow the Bureau to evaluate and improve its advisory group program.
Information collected will be used to issue travel orders or provide reimbursement for travel
expenses, as applicable.
3.

Use of Information Technology

Selection-related materials and advisory group materials may be accepted via e-mail,
telephone, facsimile, web-based tools or other electronic means. Some participation
information may be collected via these means as well.
4.

Efforts to Identify Duplication

Because qualifications for membership on the CAB and other Advisory Groups are unique to
the individual and the particular advisory group, there is no opportunity to obtain this
information from other sources, and this information collection therefore does not duplicate
existing collections. The Bureau also will not duplicate existing information when it asks
members of the CAB and other Advisory Groups to answer questions and to provide
information and advice based on their expertise. These answers, information, and advice will
be based on the unique interaction among the group members and the Bureau.
5.

Efforts to Minimize Burdens on Small Entities

Information collections under this clearance are not anticipated to burden small entities.
Page 3 of 7

30-day Federal Register Notice and OMB Review (2016 Renewal)

The Bureau anticipates that the majority of information collected will be from individuals, not
small entities. Individuals from small business and other small entities may be asked to
participate voluntarily in particular advisory groups, but this information collection should not
significantly burden small businesses or other small entities.
6.

Consequences of Less Frequent Collection and Obstacles to Burden Reduction

Without this collection, the Bureau could not ensure that the CAB and other Advisory Groups
have qualified candidates who meet established requirements relevant to the particular
advisory group and who can provide advice to the Bureau on topics before the particular
advisory group.
7.

Circumstances Requiring Special Information Collection

There are no special circumstances. The collection of information is conducted in a manner
consistent with the guidelines in 5 C.F.R. 1320. 5(d)(2).
8.

Consultation Outside the Agency

In accordance with 5 C.F.R. 1320.8(d)(1), the Bureau has published a notice Federal Register
allowing the public 60 days to comment on the proposed extension of this currently approved
collection of information. The Bureau received no comments in response to this Notice. Further
and in accordance with 5 C.F.R. 1320.5(a)(1)(iv), the Bureau has published a notice in the
Federal Register allowing the public 30 days to comment on the submission of this information
collection request to the Office of Management and Budget.
Additionally, as part of standard practice, the CAB and other Advisory Boards provide an
opportunity for participants to provide feedback on the experience, including the feedback on the
forms..
9.

Payments or Gifts to Respondents

Members of the CAB who are not full-time employees of the United States will receive
compensation and be allowed travel expenses consistent with Section 1014(d) of the
Dodd-Frank Act. Members of certain other Advisory Groups, as well as Special Advisors to
the CAB and other Advisory Groups, may also receive compensation and may be allowed
travel expenses, including transportation and subsistence, while away from their homes or
regular places of business. Whether a group is compensated and allowed travel expenses will
be based upon a determination by the Bureau, and will depend on the unique circumstances of
the particular advisory group.
10.

Assurances of Confidentiality
Page 4 of 7

30-day Federal Register Notice and OMB Review (2016 Renewal)

All information collection activities will be conducted in full compliance with the
requirements of the Privacy Act, 5 U.S.C. § 552a, and collection instruments will contain a
Privacy Act statement consistent with the Privacy Act and the Bureau’s confidentiality
regulations at 12 C.F.R. Part 1070, et seq. For the CAB and other Advisory Groups, the
names, business affiliations and other agreed-upon biographical information of members and
Special Advisors may be released in a press release, on the Bureau’s website and in other
similar publications. This information is covered by two System of Records Notices (SORN),
CFPB.016: CFPB Advisory Boards and Committees (78 FR 25428), published May, 2013
and CFPB.017: CFPB Small Business Review Panels and Cost of Credit Consultations (77
FR 24183) published April 23, 2012 and the Industry, Expert, and Community Input and
Engagement Privacy Impact Assessment (PIA), published November 21, 2014.
11.

Justification for Sensitive Questions

The Bureau will be requesting date of birth and social security numbers from nominees to
certain groups, including the CAB and other advisory groups. Such information will also be
needed for those individuals who are receiving compensation and/or reimbursement for travel
expenses. The collection of the social security number on the application form is voluntary and
is noted as such on the form but the failure to provide the form may mean the Bureau is unable
to respond to the applicants request. The Bureau will also request information necessary using
the FBI Name Check form to complete a background check of potential CAB or council
members.
12.

Estimated Burden of Information Collection

Based on program records and actual use of the forms, we estimate that, each year an average of
425 individuals will apply to serve on the CAB and other Advisory Boards. Each of these
individuals will spend between 10 and 60 minutes completing the information collections
associated with the application process. Additionally, approximately 70 individuals, including
some individual business representatives, will participate in the CAB and other Advisory
Boards. Each of these individuals will spend approximately 130 minutes completing the
information collection associated with participation in the group, the FBI Name Check form, the
TSA travel information form, the CFPB travel information from and the feedback process, in
addition to time spent in the application process. The total burden for all applicants and
participants is estimated to be 503 hours, and $0 annually. Exhibit 1 illustrates the breakdown of
the burden associated with each of the forms associated with the CAB and other Advisory
Boards.

Page 5 of 7

30-day Federal Register Notice and OMB Review (2016 Renewal)

Exhibit 1: Burden Hour Summary
Information Collection Requirement

No. of
Respondents

Frequency

Annual
Responses

250*
15*

1x
1x

150*

Application to Serve on Advisory Board
Application to serve on the
Academic Research Council
Application to serve on the
Community Bank Advisory Council
or Credit Union Advisory Council
Application to Serve as a Small Entity
Representative
FBI Name Check Form
TSA Travel Information Form
CFPB Travel Form
Consumer Advisory Board Member Survey
Totals:

Annual
Burden
Hours

250
15

Average
Response
Time
(hours)
1
.75

1x

150

1

150

10*

1x

10

.17

2

30
70
70
70
425

1x
3x
3x
1x
///////////

30
70
210
70
805

1
.17
.17
.17
/////////////

30
12
36
12
503

250
11

*Unique respondents. The remaining respondents are a subset of the unique respondents.

13.

Estimated Total Annual Cost Burden to Respondents or Record-keepers

There will be no annualized capital or start-up costs for the respondents to collect and submit
this information.
14.

Estimated Cost to the Federal Government

The Bureau does not incur any unique or additional costs as a result of this collection of
information.
15.

Program Changes or Adjustments

No program changes are proposed with this renewal. The burden has been adjusted to
reflect the Bureau’s experience over the past three years with using the forms associated
CAB and other Advisory Boards.
Exhibit 2: Summary of Burden Changes:
Total Annual Burden Requested
Current OMB Inventory
Difference (+/-)
Program Change
Discretionary
New Statute
Violation
Adjustment

Total
Respondents
425
1,700
(1,275)
0
0
0
0
(1,275)

Annual
Responses
805
6,400
(5,595)
0
0
0
0
(5,595)

Burden
Hours
503
2,071
(1,568)
0
0
0
0
(1,568)

Cost Burden
(O & M)
$0
$0
$0
$0
$0
$0
$0
$0
Page 6 of 7

30-day Federal Register Notice and OMB Review (2016 Renewal)

16.

Plans for Tabulation, Statistical Analysis, and Publication

The names, business affiliations and other agreed-upon biographical information for
members and Special Advisors may be released in a press release, on the Bureau’s website
and in other similar publications. No other statistical analysis or publication is expected to
result from this collection.
17.

Display of Expiration Date

Not applicable. We intend to display the expiration date with the OMB Control Number on
any instruments given to nominees, applicants, or members of the CAB or Advisory Boards.
18.

Exceptions to the Certification Requirement

The Bureau certifies that this collection of information is consistent with the requirements of 5
C.F.R. 1320.9, and the related provisions of 5 C.F.R. 1320.8(b)(3) and is not seeking an
exemption to these certification requirements.

SUPPORTING STATEMENT PART B COLLECTIONS EMPLOYEING STATISTICAL
MEHTODS
Not applicable. The collections of information (forms) inventories under OMB control number
3170-0037 do not use statistical methods.
###

Page 7 of 7