Qualitative Research on Consumer Trust in Banking and Bank Supervision

Forms and Documents

Document Name	Status
Qualitative Research on Consumer Trust in Banking and Bank Supervision--Focus Groups Form and Instruction	New
1557-NEW Qualitative Research on Consumer Trust in Banking Final (Submitted to OMB).docx Supporting Statement A	2024-10-02

IC Document Collections

IC ID	Document Title	Status
271335	Qualitative Research on Consumer Trust in Banking and Bank Supervision--Focus Groups Form and Instruction	New

ICR Details

OMB Control No:	ICR Reference No: 202410-1557-001
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Qualitative Research on Consumer Trust in Banking and Bank Supervision
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: 10/03/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	600	0
Time Burden (Hours)	180	0
Cost Burden (Dollars)	0	0

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Abstract: The OCC plans to collect information through consumer focus groups to gain in-depth, qualitative insights into the factors influencing public trust and confidence in the banking system. The focus groups will explore how consumers differentiate between types of financial institutions, their usage of various banking products and services, their perceptions of what drives trust or distrust in banking, and their awareness of regulators’ efforts to safeguard the system. These insights will directly inform the development of a large-scale survey instrument aimed at tracking and measuring consumer trust over time. The information collection effort will also enable the OCC to gather complementary quantitative data on levels of consumer trust in banking and bank supervision that will inform how the OCC approaches its mission to safeguard the financial stability of the banking system and promote consumer protection and economic inclusion. This information collection would allow the OCC to engage directly with consumers through qualitative research methods such as focus groups.

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Authorizing Statute(s): None

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:
	89 FR 984	01/08/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 80306	10/02/2024
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
Qualitative Research on Consumer Trust in Banking and Bank Supervision--Focus Groups	N/A, N/A, N/A	Recruitment Screener ,   Moderator Guide ,   Data Collection Protocol and Materials Plan

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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	600	0	0	600	0	0
Annual Time Burden (Hours)	180	0	0	180	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 information collection request. This is the first time this data is being collected.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

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.     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: 10/03/2024

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