2022-21639. Agency Information Collection Activities: Comment Request

AGENCY:

Bureau of Consumer Financial Protection.

ACTION:

Notice and request for comment.

SUMMARY:

In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to extend the Office of Management and Budget's (OMB's) approval for an existing information collection titled “Generic Information Collection Plan for the Development and Testing of Disclosures and Related Materials” approved under OMB Control Number 3170-0022.

DATES:

Written comments are encouraged and must be received on or before December 5, 2022 to be assured of consideration.

ADDRESSES:

You may submit comments, identified by the title of the information collection, OMB Control Number (see below), and docket number (see above), by any of the following methods:

• Federal eRulemaking Portal: https://www.regulations.gov. Follow the instructions for submitting comments.

• Email: [e-mail]. Include Docket No. CFPB-2022-0068 in the subject line of the message.

• Mail/Hand Delivery/Courier: Comment Intake, Consumer Financial Protection Bureau (Attention: PRA Office), 1700 G Street NW, Washington, DC 20552. Because paper mail in the Washington, DC, area and at the Bureau is subject to delay, commenters are encouraged to submit comments electronically.

Please note that comments submitted after the comment period will not be accepted. In general, all comments received will become public records, including any personal information provided. Sensitive personal information, such as account numbers or Social Security numbers, should not be included.

FOR FURTHER INFORMATION CONTACT:

Documentation prepared in support of this information collection request is available at www.regulations.gov. Requests for additional information should be directed to Anthony May, PRA Officer, at [phone], or email: [e-mail]. If you require this document in an alternative electronic format, please contact [e-mail]. Please do not submit comments to these email boxes.

SUPPLEMENTARY INFORMATION:

Title of Collection: Generic Information Collection Plan for the Development and Testing of Disclosures and Related Materials.

OMB Control Number: 3170-0022.

Type of Review: Extension of a currently approved information collection.

Affected Public: Individuals and households.

Estimated Number of Respondents: 49,200.

Estimated Total Annual Burden Hours: 25,463.

Abstract: The Bureau will use this generic information collection for the development and testing of consumer financial disclosures and related materials. The research will result in recommendations for the development of and revisions to such disclosures and related materials. The research activities may be conducted by the Bureau or its contractors and will include cognitive psychological testing methods or quantitative evaluations. This approach has been demonstrated to be feasible and valuable by the Bureau and other agencies in developing disclosures and related materials. The Bureau will conduct planned research activities toward the goal of creating effective disclosures and related materials that will help consumers understand the features of consumer financial products and services.

Request for Comments: Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the Bureau, including whether the information will have practical utility; (b) The accuracy of the Bureau's estimate of the burden of the collection of information, including the validity of the methods and the 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. Comments submitted in response to this notice will be summarized and/or included in the request for OMB's approval. All comments will become a matter of public record.

Anthony May,

Paperwork Reduction Act Officer, Consumer Financial Protection Bureau.