View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
7100-0323
ICR Reference No:
200907-7100-007
Status:
Historical Active
Previous ICR Reference No:
Agency/Subagency:
FRS
Agency Tracking No:
FR 3053
Title:
Consumer Protection Surveys
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Delegated
OIRA Conclusion Action:
Approved without change
Conclusion Date:
09/25/2009
Retrieve Notice of Action (NOA)
Date Received in OIRA:
09/25/2009
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
09/30/2012
36 Months From Approved
Responses
11,700
0
0
Time Burden (Hours)
6,550
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
The Federal Reserve would use this event-driven survey to obtain information specifically tailored to the Federal Reserve's supervisory, regulatory, operational, informational, and other responsibilities. This voluntary survey would be used to gather qualitative and quantitative information directly from: consumers (consumer studies), financial institutions and other financial companies offering consumer financial products and services (financial institution study), and other stakeholders, such as state or local agencies, community development organizations, brokers, appraisers, settlement agents, software vendors, and consumer groups (stakeholder studies).
Authorizing Statute(s):
US Code:
42 USC 4012a
Name of Law: Flood Disaster Protections Act of 1973, Section 102
US Code:
12 USC 2804(a)
Name of Law: Home Mortgage Disclosure Act, Section 305
US Code:
12 USC 2905
Name of Law: Community Reinvestment Act, Section 806
US Code:
12 USC 3806
Name of Law: Competitive Equality Banking Act, Section 1204
US Code:
12 USC 4008
Name of Law: Expedited Funds Availability Act, Section 609
US Code:
12 USC 4308
Name of Law: Truth in Saving Act, Section 269
US Code:
15 USC 57a(f)
Name of Law: Federal Trade Commission Act, Section 18(f)
US Code:
15 USC 1667f
Name of Law: Consumer Leasing Act of 1976, Section 187
US Code:
15 USC 1604
Name of Law: Truth in Lending Act, Section 105
US Code:
15 USC 1638(b)(2)
Name of Law: Mortgage Disclosure Improvement Act, Sections 2501 through 2503 of the Housing and Economic Recove
US Code:
15 USC 1638(e)(5)
Name of Law: Higher Education Opportunity Act of 2008, Section 1021(a)
US Code:
15 USC 1681s(e)
Name of Law: Fair Credit Reporting Act, Section 621
US Code:
15 USC 1691b(a)
Name of Law: Equal Credit Opportunity Act, Section 703
US Code:
15 USC 1693b
Name of Law: Electronic Funds Transfer Act, Section 904
US Code:
15 USC 6804
Name of Law: Gramm-Leach-Bliley Act, Section 504
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:
74 FR 34577
07/16/2009
30-day Notice:
Federal Register Citation:
Citation Date:
74 FR 48967
09/25/2009
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
6
IC Title
Form No.
Form Name
Consumer studies (Financial institution consumers)
Consumer studies (Qualitative studies)
Consumer studies (Quantitative and general studies)
Financial institution study (Financial institution staff)
Stakeholder studies (Stakeholder clientele)
Stakeholder studies (Stakeholder staff)
ICR Summary of Burden
Total Approved
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
11,700
0
0
11,700
0
0
Annual Time Burden (Hours)
6,550
0
0
6,550
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:
The Board of Governors of the Federal Reserve System, under delegated authority from the Office of Management and Budget (OMB), proposes to implement the Consumer Protection Surveys (FR 3053)
Annual Cost to Federal Government:
$500,000
Does this IC contain surveys, censuses, or employ statistical methods?
Yes
Part B of Supporting Statement
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
John Schmidt 202-728-5859 john.schmidt@frb.gov
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:
09/25/2009
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