Making Ends Meet Survey

Forms and Documents

Document Name	Status
MEM Follow-up Survey 2022 (Sample 4/Wave 2) Form	New
MEM Survey 2023 (Sample 5/Wave 1) Form	New
3170-00XX (Making Ends Meet Survey) supporting statement B.docx Supporting Statement B	2023-10-18
3170-00XX (MEM) 30-day FRN (published).pdf Supplementary Document	2023-10-18
3170-00XX (MEM) 60-day FRN (published).pdf Supplementary Document	2023-10-18
3170-XXXX (Making Ends Meet Survey) supporting statement.docx Supporting Statement A	2023-10-18

IC Document Collections

IC ID	Document Title	Status
262111	MEM Follow-up Survey 2022 (Sample 4/Wave 2) Form	New
262110	MEM Survey 2023 (Sample 5/Wave 1) Form	New

ICR Details

OMB Control No:	ICR Reference No: 202309-3170-001
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: CFPB	Agency Tracking No:
Title: Making Ends Meet Survey
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: 10/18/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	4,500	0
Time Burden (Hours)	1,375	0
Cost Burden (Dollars)	0	0

---

Abstract: The Dodd-Frank Wall Street Reform and Consumer Protection Act charges the Consumer Financial Protection Bureau with researching, analyzing, and reporting on topics relating to the Bureau's mission including consumer behavior, consumer awareness, and developments in markets for consumer financial products and services. To improve its understanding of how consumers engage with financial markets, the Bureau has successfully used surveys under its “Making Ends Meet” program. The “Making Ends Meet” program has also used the Bureau's Consumer Credit Information Panel (CCIP) as a frame to survey people about their experiences in consumer credit markets. The Bureau seeks approval for two yearly surveys under the “Making Ends Meet” program. These surveys solicit information on the consumer's experience related to household financial shocks, particularly shocks related to the economic effects of the COVID–19 pandemic, how households respond to those shocks, and the role of savings to help provide a financial buffer. The first survey will be a follow-up to respondents from the Bureau's 2023 “Making Ends Meet” survey to better understand household financial experiences dealing with medical debt as well as consumers' interactions with various financial products. The second survey will go to a new sample of consumers from the CCIP and will address several topics of interest to the Bureau possibly including the impact of natural disasters and other environmental events, credit shopping behavior, additional follow-up regarding debt collection, and the assessment of various fees throughout the financial services ecosystem.

---

Authorizing Statute(s): PL: Pub.L. 111 - 203 1021 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act,
   PL: Pub.L. 111 - 203 1013 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act,
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 31251	05/16/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 66820	09/28/2023
Did the Agency receive public comments on this ICR? Yes

---

Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
MEM Follow-up Survey 2022 (Sample 4/Wave 2)	N/A	Follow-up Survey
MEM Survey 2023 (Sample 5/Wave 1)	N/A	Making ends Meet Survey

---

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	4,500	0	0	4,500	0	0
Annual Time Burden (Hours)	1,375	0	0	1,375	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 new data collection. However, the Making Ends Meet surveys have historically been submitted under generic clearances prior to 2023 under OMB Control Number 3170-0048. The Bureau is now and will be submitting these surveys under normal information collection requests to maximize our potential usages for the collected data.

---

Annual Cost to Federal Government: $750,000

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]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

---

Common Form ICR:  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:

(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: 10/18/2023

---