Generic Clearance for Prize Competition Participation

The FDIC plans to periodically conduct prize competitions under authority of Section 24 of the Stevenson-Wydler Technology Innovation Act of 1980 and the Federal Deposit Insurance Act. The prize competitions usually do not involve more than 300 respondents, generally do not require more than 20 hours per respondent, and are always completely voluntary in nature. It is not contemplated that more than 5 such prize competitions will be conducted in any given year. The purpose of the prize competitions is, in general terms, to obtain information involving a variety of topics and challenges associated with: underserved communities and financial inclusion; consumer protection; the FDIC’s use of information technology and data (including artificial intelligence and machine learning); and financial and technologically-driven innovation in banking.

The latest form for Generic Clearance for Prize Competition Participation expires 2022-10-31 and is listed under ICR 201909-3064-003.