Generic Information Collection Plan for Foundational Research About Consumer Credit Markets and Household Financial Decision-Making

ICR 202303-3170-003

OMB: 3170-0082

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2023-12-05
IC Document Collections
ICR Details
202303-3170-003
Received in OIRA
CFPB
Generic Information Collection Plan for Foundational Research About Consumer Credit Markets and Household Financial Decision-Making
New collection (Request for a new OMB Control Number)   No
Regular 12/05/2023
  Requested Previously Approved
36 Months From Approved
64,000 0
32,000 0
0 0

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Bureau of Consumer Financial Protection (Bureau) is tasked with researching, analyzing, and reporting on topics relating to the Bureau’s mission, including developments in markets for consumer financial products and services, consumer awareness, and consumer behavior. Under this generic information collection plan, the Bureau collects data through qualitative and quantitative methods, including focus groups, interviews, and controlled trials in field and laboratory settings. The primary purpose of research carried out under this generic clearance is for foundational research of an exploratory nature. This foundational research will be used for developmental and informative purposes to increase the Bureau’s understanding of consumer credit markets and household financial decision-making. In addition, research may be related to the Bureau’s mission regarding financial education, including evaluating the effectiveness of financial education programs and understanding financial planning behaviors, including savings, spending, and investing behavior. The Bureau envisions that the research covered under this clearance will be basic foundational research about consumer credit markets and household finance.

PL: Pub.L. 111 - 203 1013, 1021 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  
None

Not associated with rulemaking

  87 FR 71587 11/23/2022
88 FR 43321 07/23/2023
No

0

  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 64,000 0 0 64,000 0 0
Annual Time Burden (Hours) 32,000 0 0 32,000 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
This is new Generic information collection Plan

No
    No
    No
No
Yes
No
No
Michael Galleher 202 435-7760 [email protected]

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
12/05/2023


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