Proposed Collection; Comment Request, 18794-18795 [2012-7466]
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18794
Federal Register / Vol. 77, No. 60 / Wednesday, March 28, 2012 / Notices
3506(c)(2)(A)). Currently, the Bureau is
soliciting comments concerning the
information collection efforts relating to
Quantitative Testing of Integrated
Mortgage Loan Disclosure Forms.
DATES: Written comments must be
received on or before May 29, 2012 to
be assured of consideration.
ADDRESSES: You may submit comments
by any of the following methods:
• Electronic: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• Mail/Hand Delivery/Courier: Direct
all written comments to Consumer
Financial Protection Bureau, (Attention:
Chris Willey, Chief Information Officer),
1700 G Street NW., Washington, DC
20552.
Instructions: All submissions must
include the agency name and docket
number for this notice. In general, all
comments will be posted without
change to https://www.regulations.gov. In
addition, comments will be available for
public inspection and copying at 1700
G Street NW., Washington, DC 20552 on
official business days between the hours
of 10 a.m. and 5 p.m. Eastern Time. You
can make an appointment to inspect
comments by telephoning (202) 435–
7275. All comments, including
attachments and other supporting
materials, will become part of the public
record and subject to public disclosure.
You should only submit information
that you wish to make available
publicly.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information
should be directed to Joseph Durbala,
(202) 435–7893, at the Consumer
Financial Protection Bureau, (Attention:
Joseph Durbala, PRA Clearance
Office),1700 G Street NW., Washington,
DC 20552, or through the internet at
Joseph.Durbala@cfpb.gov.
tkelley on DSK3SPTVN1PROD with NOTICES
SUPPLEMENTARY INFORMATION:
Title: Quantitative Testing of
Integrated Mortgage Loan Disclosure
Forms.
OMB Number: 3170-xxxx.
Abstract: The Dodd-Frank Wall Street
Reform and Consumer Protection Act
(Dodd-Frank Act), Public Law 111–203,
Title X, requires the CFPB to develop
disclosures that integrate separate
disclosures concerning residential
mortgage loans that are required under
the Truth in Lending Act (TILA) and
Real Estate Settlement Procedures Act
(RESPA). The Dodd-Frank Act requires
the Bureau to publish proposed
integrated disclosures by July 21, 2012.
The Bureau began developing the
integrated disclosures in 2011,
conducting qualitative testing of the
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disclosures given in connection with the
application by the consumer and the
consummation of the transaction. This
qualitative testing has been conducted
under Emergency Clearance Number
1505–0233 and Generic Clearance
Number 3170–0003.
The Bureau proposes to conduct
quantitative testing of the integrated
disclosures after it publishes the
proposed integrated disclosures. The
purpose of the quantitative testing will
be to examine whether the disclosures
aid consumers in understanding the
terms of the mortgage loan that is the
subject of the disclosure. All
information will be collected on a
voluntary basis and consumers will
receive usual and customary
compensation for their participation.
For the quantitative research, the
Bureau plans to contract with a
consumer research firm to formulate a
quantitative testing plan, recruit
respondents, as well as to conduct the
testing and provide a report
summarizing the results of the research.
The results will assist the Bureau in
determining the efficacy of the proposed
integrated disclosures, in furtherance of
the statutory purpose of the integrated
disclosures under TILA and RESPA,
which is, in part, to aid the consumer
in understanding the transaction.
Current Actions: Requesting new
OMB approval number.
Type of Review: New collection.
Affected Public: Individuals or
Households.
Estimated Number of Responses per
year: 2,000.
Estimated Time per Respondent: 30
minutes.
Estimated Total Annual Burden
Hours per year: 1,000.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Request For Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information, including the validity of
the methodology and the assumptions
used; (c) ways to enhance the quality,
PO 00000
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Sfmt 4703
utility, and clarity of the information to
be collected; and (d) ways to minimize
the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology costs and costs of operation,
maintenance, and purchase of services
to provide information.
Dated: March 20, 2012.
Chris Willey,
Chief Information Officer, Bureau of
Consumer Financial Protection.
[FR Doc. 2012–7463 Filed 3–27–12; 8:45 am]
BILLING CODE 4810–AM–P
BUREAU OF CONSUMER FINANCIAL
PROTECTION
[Docket No. CFPB–2012–0011]
Proposed Collection; Comment
Request
Bureau of Consumer Financial
Protection.
ACTION: Notice and request for public
comment.
AGENCY:
The Bureau of Consumer
Financial Protection (Bureau), as part of
its continuing effort to reduce
paperwork and respondent burden,
invites the general public and other
Federal agencies to comment on a
proposed information collection, as
required by the Paperwork Reduction
Act of 1995, Public Law 104–13
(44 U.S.C. 3506(c)(2)(A)). Currently, the
Bureau is soliciting comments on a
proposed information collection to test
online and print content the Bureau
provides to consumers to help them
achieve their financial goals and to
better understand various financial
products and services available to them,
pursuant to the Bureau’s authorities
under the Dodd-Frank Wall Street
Reform and Consumer Protection Act
(Dodd-Frank Act), Public Law 111–203.
DATES: Written comments are
encouraged and must be received on or
before May 29, 2012 to be assured of
consideration.
SUMMARY:
You may submit comments,
identified by docket number CFPB–
2012–0011, by any of the following
methods:
• Electronic: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• Mail/Hand Delivery/Courier: Direct
all written comments to Consumer
Financial Protection Bureau, 1700 G
Street NW., (Attention: Chris Willey,
Chief Information Officer), Washington,
DC 20552.
ADDRESSES:
E:\FR\FM\28MRN1.SGM
28MRN1
18795
Federal Register / Vol. 77, No. 60 / Wednesday, March 28, 2012 / Notices
Instructions: All submissions must
include the agency name and docket
number for this notice. In general all
comments received will be posted
without change to https://
www.regulations.gov. In addition,
comments will be available for public
inspection and copying at 1700 G Street,
NW., Washington, DC 20552 on official
business days between the hours of 10
a.m. and 5 p.m. Eastern Time. You can
make an appointment to inspect
comments by telephoning (202) 435–
7275. All comments, including
attachments and other supporting
materials, will become part of the public
record and subject to public disclosure.
You should submit only information
that you wish to make available
publicly.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information
should be directed to Joseph Durbala,
(202) 435–7893, at the Consumer
Financial Protection Bureau, (Attention:
Joseph Durbala, PRA Clearance Office),
1700 G Street NW., Washington, DC
20552, or through the Internet at
Joseph.Durbala@cfpb.gov.
SUPPLEMENTARY INFORMATION:
Title: Generic Clearance for User
Testing of Consumer Financial Products
and Services.
OMB Control Number: 3170–XXXX.
Abstract: Under the Dodd-Frank Act,
the Bureau is responsible for
‘‘developing and implementing
initiatives intended to educate and
empower consumers to make better
informed decisions.’’ The Dodd-Frank
Act also directs the Bureau to research,
analyze, and report on consumer
awareness and understanding of, and
behaviors with respect to, financial
services and products and the
associated costs and benefits.1 In
keeping with the Bureau’s commitment
to encouraging evidence-based practices
to improve consumer financial
outcomes, the Bureau exercises its
authorities under the Act to measure the
impacts of specific Bureau initiatives
aimed at improving consumers’
financial literacy and decision-making
skills.
In service of these mandates, the
Bureau intends to commission periodic
user testing of information the Bureau
provides to consumers to help them
achieve their financial goals and to
better understand various financial
products and services available to them.
The Bureau will also use this
information collection to test methods
for communicating that information to
better understand the impact of
particular information delivery
methods’ on the attitudes,
Number of
respondents
Process
understanding, and behaviors of
American adult consumers around
issues of financial decision-making.
These user testing collections will be
conducted either in-person, using
spoken prompts and responses, paperbased written and visual prompts and
responses; or through online multimedia prompts and responses. The
Bureau will employ a qualitative,
iterative, testing methodology to assess:
• The quality and impact of written
and visual information,
• Methods and media for
communicating information, and
• User experience scenarios for using
information to assist in financial
decision making.
This information will inform the
Bureau’s consumer engagement and
education efforts, allowing it to improve
its delivery of services to consumers and
empower them to improve upon their
financial-decision-making skills and
outcomes.
Current Actions: New generic
collection request.
Type of Review: New.
Affected Public: Individuals or
Households.
Annual Burden Estimates: Below is a
preliminary estimate of the aggregate
burden hours for the information
collections:
Number of
responses
per
respondent
Average
burden per
response
minutes
Total burden
hours
500
500
500
500
18
18
18
18
3
3
5
5
450
450
750
750
Total ..........................................................................................................
tkelley on DSK3SPTVN1PROD with NOTICES
Internet-based qualitative prototype testing ....................................................
Internet-based qualitative concept testing .......................................................
In-person qualitative prototype testing ............................................................
In-person qualitative concept testing ...............................................................
2,000
72
16
2,400
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the proposed collection
of information, including the validity of
the methodology and assumptions used;
(c) ways to enhance the quality, utility,
and clarity of the information to be
collected; and (d) ways to minimize the
burden of the collection of information
1 12
on respondents, including through the
use of automated, collection techniques
or other forms of information
technology.
BUREAU OF CONSUMER FINANCIAL
PROTECTION
Dated: March 20, 2012.
Chris Willey,
Chief Information Officer, Bureau of
Consumer Financial Protection.
Proposed Collection; Comment
Request
[FR Doc. 2012–7466 Filed 3–27–12; 8:45 am]
BILLING CODE 4810–AM–P
[Docket No. CFPB–2012–0012]
Bureau of Consumer Financial
Protection.
ACTION: Notice and request for public
comment.
AGENCY:
The Bureau of Consumer
Financial Protection (Bureau), as part of
its continuing effort to reduce
paperwork and respondent burden,
invites the general public and other
Federal agencies to comment on a
proposed information collection, as
SUMMARY:
U.S.C. s. 5493(b)(1).
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E:\FR\FM\28MRN1.SGM
28MRN1
]]>Agencies
[Federal Register Volume 77, Number 60 (Wednesday, March 28, 2012)]
[Notices]
[Pages 18794-18795]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-7466]
-----------------------------------------------------------------------
BUREAU OF CONSUMER FINANCIAL PROTECTION
[Docket No. CFPB-2012-0011]
Proposed Collection; Comment Request
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Notice and request for public comment.
-----------------------------------------------------------------------
SUMMARY: The Bureau of Consumer Financial Protection (Bureau), as part
of its continuing effort to reduce paperwork and respondent burden,
invites the general public and other Federal agencies to comment on a
proposed information collection, as required by the Paperwork Reduction
Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently,
the Bureau is soliciting comments on a proposed information collection
to test online and print content the Bureau provides to consumers to
help them achieve their financial goals and to better understand
various financial products and services available to them, pursuant to
the Bureau's authorities under the Dodd-Frank Wall Street Reform and
Consumer Protection Act (Dodd-Frank Act), Public Law 111-203.
DATES: Written comments are encouraged and must be received on or
before May 29, 2012 to be assured of consideration.
ADDRESSES: You may submit comments, identified by docket number CFPB-
2012-0011, by any of the following methods:
Electronic: https://www.regulations.gov. Follow the
instructions for submitting comments.
Mail/Hand Delivery/Courier: Direct all written comments to
Consumer Financial Protection Bureau, 1700 G Street NW., (Attention:
Chris Willey, Chief Information Officer), Washington, DC 20552.
[[Page 18795]]
Instructions: All submissions must include the agency name and
docket number for this notice. In general all comments received will be
posted without change to https://www.regulations.gov. In addition,
comments will be available for public inspection and copying at 1700 G
Street, NW., Washington, DC 20552 on official business days between the
hours of 10 a.m. and 5 p.m. Eastern Time. You can make an appointment
to inspect comments by telephoning (202) 435-7275. All comments,
including attachments and other supporting materials, will become part
of the public record and subject to public disclosure. You should
submit only information that you wish to make available publicly.
FOR FURTHER INFORMATION CONTACT: Requests for additional information
should be directed to Joseph Durbala, (202) 435-7893, at the Consumer
Financial Protection Bureau, (Attention: Joseph Durbala, PRA Clearance
Office), 1700 G Street NW., Washington, DC 20552, or through the
Internet at Joseph.Durbala@cfpb.gov.
SUPPLEMENTARY INFORMATION:
Title: Generic Clearance for User Testing of Consumer Financial
Products and Services.
OMB Control Number: 3170-XXXX.
Abstract: Under the Dodd-Frank Act, the Bureau is responsible for
``developing and implementing initiatives intended to educate and
empower consumers to make better informed decisions.'' The Dodd-Frank
Act also directs the Bureau to research, analyze, and report on
consumer awareness and understanding of, and behaviors with respect to,
financial services and products and the associated costs and
benefits.\1\ In keeping with the Bureau's commitment to encouraging
evidence-based practices to improve consumer financial outcomes, the
Bureau exercises its authorities under the Act to measure the impacts
of specific Bureau initiatives aimed at improving consumers' financial
literacy and decision-making skills.
---------------------------------------------------------------------------
\1\ 12 U.S.C. s. 5493(b)(1).
---------------------------------------------------------------------------
In service of these mandates, the Bureau intends to commission
periodic user testing of information the Bureau provides to consumers
to help them achieve their financial goals and to better understand
various financial products and services available to them. The Bureau
will also use this information collection to test methods for
communicating that information to better understand the impact of
particular information delivery methods' on the attitudes,
understanding, and behaviors of American adult consumers around issues
of financial decision-making.
These user testing collections will be conducted either in-person,
using spoken prompts and responses, paper-based written and visual
prompts and responses; or through online multi-media prompts and
responses. The Bureau will employ a qualitative, iterative, testing
methodology to assess:
The quality and impact of written and visual information,
Methods and media for communicating information, and
User experience scenarios for using information to assist
in financial decision making.
This information will inform the Bureau's consumer engagement and
education efforts, allowing it to improve its delivery of services to
consumers and empower them to improve upon their financial-decision-
making skills and outcomes.
Current Actions: New generic collection request.
Type of Review: New.
Affected Public: Individuals or Households.
Annual Burden Estimates: Below is a preliminary estimate of the
aggregate burden hours for the information collections:
----------------------------------------------------------------------------------------------------------------
Number of Average burden
Process Number of responses per per response Total burden
respondents respondent minutes hours
----------------------------------------------------------------------------------------------------------------
Internet-based qualitative prototype testing.... 500 18 3 450
Internet-based qualitative concept testing...... 500 18 3 450
In-person qualitative prototype testing......... 500 18 5 750
In-person qualitative concept testing........... 500 18 5 750
---------------------------------------------------------------
Total....................................... 2,000 72 16 2,400
----------------------------------------------------------------------------------------------------------------
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the proposed collection of information is necessary for
the proper performance of the functions of the agency, including
whether the information will have practical utility; (b) the accuracy
of the agency's estimate of the burden of the proposed collection of
information, including the validity of the methodology and assumptions
used; (c) ways to enhance the quality, utility, and clarity of the
information to be collected; and (d) ways to minimize the burden of the
collection of information on respondents, including through the use of
automated, collection techniques or other forms of information
technology.
Dated: March 20, 2012.
Chris Willey,
Chief Information Officer, Bureau of Consumer Financial Protection.
[FR Doc. 2012-7466 Filed 3-27-12; 8:45 am]
BILLING CODE 4810-AM-P
