Consumer and Stakeholder Surveys

Forms and Documents

Document Name	Status
FR3073_20140410_omb.pdf Supporting Statement A	2014-04-10

IC Document Collections

IC ID	Document Title	Status
210126	Stakeholder Qualitative surveys Other-Survey Content Sample	New
210125	Stakeholder Quantitative surveys Other-Survey Content Sample	New
210124	Consumer Qualitative surveys Other-Survey Content Sample	New
210123	Consumer Quantitative surveys (large) Other-Survey Content Sample	New
210122	Consumer Quantitative surveys (medium) Other-Survey Content Sample	New

ICR Details

OMB Control No: 7100-0359	ICR Reference No: 201401-7100-009
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FRS	Agency Tracking No: FR 3073
Title: Consumer and Stakeholder 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: 04/10/2014
	Date Received in OIRA: 04/10/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2017	36 Months From Approved
Responses	32,800	0	0
Time Burden (Hours)	10,700	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The FR 3073 surveys in this collection would be used to gather quantitative and qualitative information directly from individual consumers or households (consumer surveys) on consumer finance topics. This collection also would be used to gather quantitative and qualitative information on current and emerging community economic issues from stakeholders (stakeholder surveys). Stakeholders may include, for example, such organizations as community groups, community development organizations, non-profit service providers, faith-based service organizations, public sector agencies, small business owners, health care organizations, food banks, K-12 public and private schools, community colleges, community development financial institutions, credit unions, banks, and other financial institutions and companies offering financial products and services. While these surveys would be ongoing, the frequency and content of the questions may change depending on economic conditions, regulatory, or legislative developments, as well as changes in technology, business practices, and other factors affecting consumers, stakeholders, and communities.

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Authorizing Statute(s): US Code: 5 USC 552(b)(4) and (6) Name of Law: Freedom of Information Act
   US Code: 12 USC 2905 Name of Law: Community Reinvestment Act
   US Code: 12 USC 3806 Name of Law: Competitive Equality Banking Act
   US Code: 12 USC 4008 Name of Law: Expedited Funds Availability Act
   US Code: 15 USC 1604 Name of Law: Truth in Lending Act
   US Code: 15 USC 1681s(e) Name of Law: Fair Credit Reporting Act
   US Code: 15 USC 1691b Name of Law: Equal Credit Opportunity Act
   US Code: 15 USC 1693b & 1693o-2 Name of Law: Electronic Funds Transfer Act
   US Code: 15 USC 6801(b) Name of Law: Gramm-Leach-Bliley Act
   US Code: 42 USC 4012a Name of Law: Flood Disaster Protection Act of 1973, Se
   US Code: 12 USC 225a, 263, 324, 602 and 625 Name of Law: Federal Reserve Act
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 3105(c)(2) Name of Law: International Banking Act of 1978
   US Code: 12 USC 1817(a) Name of Law: Federal Deposit Insurance Act
  

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:
	78 FR 77680	12/24/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 13301	03/10/2014
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 5

IC Title	Form No.	Form Name
Consumer Quantitative surveys (medium)
Consumer Quantitative surveys (large)
Stakeholder Quantitative surveys
Stakeholder Qualitative surveys
Consumer Qualitative surveys

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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	32,800	0	0	32,800	0	0
Annual Time Burden (Hours)	10,700	0	0	10,700	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 (Federal Reserve Board), under delegated authority from the Office of Management and Budget (OMB), proposes to implement the voluntary Consumer and Stakeholder Surveys (FR 3073). The Federal Reserve would use this collection to inform consumer-focused supervision, research, and policy analysis; implement statutory requirements; and facilitate community development. The surveys in this collection would inform the Federal Reserve's work by identifying emerging risks and providing additional data on the issues that affect the well-being of consumers and communities and the function of the market for financial services.

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Annual Cost to Federal Government: $1,050,000

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

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]? 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? Uncollected

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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: 04/10/2014

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