3170-0036 (CFPB FinEx Practitioner Feedback on Consumer Voices Survey) supporting statement

BUREAU OF CONSUMER FINANCIAL PROTECTION

Request for Approval under the

“Generic information collection plan for Qualitative Consumer Education, Engagement, and Experience Information Collections”

(OMB Control Number: 3170-0036)

1. TITLE OF INFORMATION COLLECTION: CFPB FinEx Practitioner Feedback on Consumer Voices Survey

2. PURPOSE: To collect feedback from financial practitioners on what they are hearing and experiencing from consumers they serve on their financial well-being and financial literacy needs.

3. DESCRIPTION OF RESPONDENTS: This survey will be mailed to approximately 44,000 financial practitioners on the CFPB FinEx list as well as 30,000 subscribers to the FinEd list and other CFPB subscribers practitioners lists that opt-in.

4. TYPE OF COLLECTION (Administration of the COLLECTION instrument):

1. How will you collect the information? Check all that apply.

[X] Web-based or other forms of Social Media [ ] Telephone

[ ] In-person [ ] Mail

[ ] Small Discussion Group [ ] _{Focus Group} [ ] Other (please explain) __________________________________

2. Will interviewers or facilitators be used?

[ ] Yes [ X ] No [ ] Not Applicable

5. Focus group or survey:

If you plan to conduct a focus group or survey, please provide answers to the following questions: Survey

a. Do you have a customer list or something similar that defines the universe of potential respondents and do you have a sampling plan for selecting from this universe?

[ X ] Yes [ ] No [ ] Not Applicable

3. If yes, please provide a description below. If no, please provide a description of how you plan to identify your potential group of respondents and how you will select them.

Yes, please see #3 above.

5. Information Collection Procedures:

Please summarize the procedures that will be used to collect data from respondents.

An introduction email will be sent announcing objectives, processes and closing date of the survey. The email will include a link to the actual survey.

5. Personally Identifiable Information:

1. Is personally identifiable information (PII) collected? [ ] Yes [ X ] No –no names will be collected, just general business card information without names.

2. If yes, is the information that will be collected included in records that are subject to the Privacy Act of 1974?

[ ] Yes [ ] No [X] Not Applicable

3. Has a System or Records Notice (SORN) been published?

[ ] Yes [] No [X] Not Applicable

If yes, list the SORN title and Federal Register citation

Title: ________________________________________________________

__ FR ________________________.

4. If applicable, what is the link to the Privacy Impact Assessment?

https://files.consumerfinance.gov/f/documents/cfpb_PIA_Qualtrics.pdf

5. INCENTIVES:

1. Is an incentive provided to participants? [ ] Yes [X] No

2. If yes, provide a statement justifying the use and amount of the incentive and the amount or value of the incentive: $____N/A_______.

5. Assurances of Confidentiality:

1. Will a pledge of confidentiality be made to respondents? [ ] Yes [X] No

2. If yes, please cite the statue, regulation, or contractual terms supporting the pledge.

5. JUSTIFICATION OF SENSITIVE QUESTIONS (if applicable):

No sensitive questions, just asking the respondents about their perspectives on consumer challenges and related to financial literacy.

5. BURDEN HOURS:

Collection of Information	Number of Respondents	Frequency	Number of Responses	Response Time (hours)	Burden (hours)
Survey	74,000		350	0.5	175

12. FEDERAL COST: The estimated annual cost to the Federal government is $___0_____.

13. CERTIFICATION:

CERTIFICATION PURSUANT TO 5 CFR 1320.9, AND THE RELATED PROVISIONS OF

5 CFR 1320.8(b)(3):

By submitting this document, the Bureau certifies the following to be true:

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

(b) It avoids unnecessary duplication;

(c) It uses plain, coherent, and unambiguous terminology that is understandable to respondents;

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

(e) It indicates the retention period for recordkeeping requirements;

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

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary);

(v) Nature and extent of confidentiality; and

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

(g) 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;

(h) It uses effective and efficient statistical survey methodology; and

(i) It makes appropriate use of information technology.

CERTIFICATION FOR INFORMATION COLLECTIONS SUBMITTED UNDER A GENERIC INFORMATION COLLECTION PLAN

By submitting this document, the Bureau certifies the following to be true:

• The collection is voluntary.

• The collection is low-burden for respondents.

• The collection is non-controversial and does not raise issues of concern to other Federal agencies.

• Information gathered will not be used for the purpose of substantially informing influential policy decisions.

• The collection is not statistically significant; the results are not intended to be generalizable beyond the survey population.

• The results will not be used to measure regulatory compliance or for program evaluation.

Revised October 2019