Generic Information Collection Plan for Surveys Using the Consumer Credit Panel

Forms and Documents

Document	Type	Status	Availability
3170-0066 - Generic IC Template OMB.docx	Supplementary Document	Uploaded 2019-11-26	Repair queued
3170-0066 CCP Surveys Supporting Statement A 30-dayFRN OMB.docx	Supporting Statement A	Uploaded 2019-11-26	Available
3170-0066 CCP Surveys Supporting Statement B 30-dayFRN OMB.doc	Supporting Statement B	Uploaded 2019-11-26	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
244675	Making Ends Meet Survey	Other-Survey	New

ICR Details

OMB Control No: 3170-0066	ICR Reference No: 201911-3170-003
Status: Active	Previous ICR Reference No: 201506-3170-003
Agency/Subagency: CFPB	Agency Tracking No: TI 10245
Title: Generic Information Collection Plan for Surveys Using the Consumer Credit Panel
Type of Information Collection: Reinstatement without change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/02/2020
	Date Received in OIRA: 12/02/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2023	36 Months From Approved
Responses	18,000	0	0
Time Burden (Hours)	9,000	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), the Consumer Financial Protection Bureau (CFPB) is charged with researching, analyzing, and reporting on topics relating to CFPB's mission, including consumer behavior, consumer awareness, and developments in markets for consumer financial products and services. In order to improve its understanding of how consumers engage with financial markets, the CFPB has used the Consumer Credit Panel (CCP), a proprietary sample dataset from one of the national credit reporting agencies, as a frame to survey people about their experiences in consumer credit markets. CFPB seeks to obtain approval for a generic information collection plan for these types of surveys. Surveys conducted under this generic information collection plan will support CFPB's mission to conduct research in areas related to consumer finance including research to monitor developments in consumers’ financial situations, related changes in their use of financial products, and the impacts that these decisions have on their balance sheets. All research under this plan will be for general, formative, and informational research on consumer financial markets and consumers’ use of financial products and will not directly provide the basis for specific policymaking at CFPB. The CFPB requests approval from the Office of Management and Budget for a generic information collection plan which will allow the Bureau to collect data by administering surveys which use the CCP as a survey frame.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 1013(b)(1) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

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:
	84 FR 45998	09/03/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 65973	12/02/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Making Ends Meet Survey

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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	18,000	0	0	18,000	0	0
Annual Time Burden (Hours)	9,000	0	0	9,000	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: This is a reinstatement of a previously approved collection; therefore, all burden is considered new burden for this submission. However, the Bureau’s prior experiences using this collection has led it to revise downward the burden estimates of this collection by 7,500 responses and 3,750 burden hours over the next three-year approval period.

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Annual Cost to Federal Government: $600,000

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 12/02/2019

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