Survey of Household Use of Banking and Financial Services

Forms and Documents

Document Name	Status
Attachment C2- Factsheet CPS -BC-1433 (April 2016).pdf Supplementary Document	2021-02-18
Attachment C1- Census Confidentiality Brochure- 2017_BC-1428RV(English_5.pdf Supplementary Document	2021-02-18
Attachment B- Advance Letter and FAQ (CPS-263(MIS-1) for Atlanta).pdf Supplementary Document	2021-02-18
attachment A4_2019_FDIC_How_AmerIca_Banks_Appendices.pdf Supplementary Document	2021-02-18
attachment A3_2019_FDIC_How_America_Banks_Report.pdf Supplementary Document	2021-02-18
attachmentA2_2021instrument_changesfrom2019_2021-02-10.docx Supplementary Document	2021-02-18
attachmentA1_2021instrument.docx Supplementary Document	2021-02-18
FR2-NEW Financial Services Household Survey 86 FR 9934 Febbruary 17 2021.pdf Supplementary Document	2021-02-18
FR1-NEW Financial Services Household Survey 85 FR 77462 December 2, 2020.pdf Supplementary Document	2021-02-18
SPST B 3064-NEW Financial Services Household Survey 2021.docx Supporting Statement B	2021-02-18
SPST A 3064-NEW Financial Services Household Survey FINAL.docx Supporting Statement A	2021-02-18

IC Document Collections

IC ID	Document Title	Status
245894	Survey of Household Use of Banking and Financial Services Other-Survey Script for Census Taker	New

ICR Details

OMB Control No:	ICR Reference No: 202102-3064-006
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: FDIC	Agency Tracking No:
Title: Survey of Household Use of Banking and Financial Services
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 02/18/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	40,000	0
Time Burden (Hours)	6,000	0
Cost Burden (Dollars)	0	0

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Abstract: The Federal Deposit Insurance Corporation (FDIC) is requesting approval from the Office of Management and Budget (OMB) of a new information collection entitled “Survey of Household Use of Banking and Financial Services” (“Household Survey”). This survey was previously named the FDIC National Survey of Unbanked and Underbanked Households and was approved under OMB Control No. 3064-0167 (the “Predecessor Surveys”). The Household Survey and the Predecessor Surveys are hereinafter referred to as the “Financial Services Household Survey.” The Financial Services Household Survey is a key component of the FDIC’s efforts to comply with a Congressional mandate that the FDIC conduct biennial surveys to provide “a fair estimate of the size and worth of the unbanked market in the United States” and to answer additional related questions. The Financial Services Household Survey is the only nationally- and state-representative survey of this type for the United States.

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Authorizing Statute(s): PL: Pub.L. 109 - 173 7 Name of Law: Federal Deposit Insurance Conforming Amendments Act of 2005
  

Citations for New Statutory Requirements: PL: Pub.L. 109 - 173 7 Name of Law: Federal Deposit Insurance Conforming Amendments Act of 2005

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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:
	85 FR 77462	12/02/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 9934	02/17/2021
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
Survey of Household Use of Banking and Financial Services

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ICR Summary of Burden

	Total Request	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	40,000	0	40,000	0	0	0
Annual Time Burden (Hours)	6,000	0	6,000	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: The Financial Services Household Survey is a key component of the FDIC’s efforts to comply with a Congressional mandate codified in section 7 of the Federal Deposit Insurance Reform Conforming Amendments Act of 2005 (“the Act”), Pub. L. 109-173, which requires the FDIC to conduct biennial surveys on “efforts by insured financial institutions to bring those individuals and families who have rarely, if ever, held a checking account, a savings account, or other type of transaction or check cashing account at an insured depository institution (the “unbanked”) into the conventional finance system.” The mandate further requires the FDIC to estimate the size and worth of the unbanked market in the United States and to identify the cultural, language and identification issues and transaction costs that prevent unbanked individuals from establishing conventional accounts

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Annual Cost to Federal Government: $435,000

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.     No

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.     No

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? No

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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: 02/18/2021

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