80 FR 18402 - Agency Information Collection Activities: Submission for OMB Review; Comment Request Regarding the National Survey of Unbanked and Underbanked Households (3064-0167)
FEDERAL DEPOSIT INSURANCE CORPORATION Federal Register Volume 80, Issue 65 (April 6, 2015)
Federal Register Volume 80, Issue 65 (April 6, 2015)
| Page Range | 18402-18404 | |
| FR Document | 2015-07798 |
[Federal Register Volume 80, Number 65 (Monday, April 6, 2015)] [Notices] [Pages 18402-18404] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-07798] ======================================================================= ----------------------------------------------------------------------- FEDERAL DEPOSIT INSURANCE CORPORATION Agency Information Collection Activities: Submission for OMB Review; Comment Request Regarding the National Survey of Unbanked and Underbanked Households (3064-0167) AGENCY: Federal Deposit Insurance Corporation (FDIC). ACTION: Notice of information collection to be submitted to OMB for review and approval under the Paperwork Reduction Act of 1995. ----------------------------------------------------------------------- SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork and respondent burden and as required by the Paperwork Reduction Act of 1995, invites the general public and other Federal agencies to comment on the survey collection instrument for its fourth National Survey of Unbanked and Underbanked Households (2015 Household Survey), currently approved under OMB Control No. 3064-0167, scheduled to be conducted in partnership with the U.S. Census Bureau as a supplement to its June 2015 Current Population Survey (CPS). The survey seeks to estimate the proportions of unbanked and underbanked households in the U.S. and to identify the factors that inhibit the participation of these households in the mainstream banking system, and opportunities to expand the use of banking services among underserved consumers. The results of these ongoing surveys will help policymakers and bankers understand the issues and challenges underserved households perceive when deciding how and where to conduct financial transactions. DATES: Comments must be submitted on or before May 6, 2015. [[Page 18403]] ADDRESSES: Interested parties are invited to submit written comments by any of the following methods. All comments should refer to ``National Survey of Unbanked and Underbanked Households'':http://www.FDIC.gov/regulations/laws/federal/. Email: [email protected]. Include the name and number of the collection in the subject line of the message. Mail: Gary Kuiper, Counsel, (202.898.3877), MB-3074, or John Popeo, Counsel, (202.898.6923), MB-3007, Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, DC 20429. Hand Delivery: Comments may be hand-delivered to the guard station at the rear of the 550 17th Street Building (located on F Street), on business days between 7:00 a.m. and 5:00 p.m. FOR FURTHER INFORMATION CONTACT: Interested members of the public may obtain a copy of the survey and related instructions by clicking on the link for the National Unbanked and Underbanked Household Survey on the following Web page: http://www.fdic.gov/regulations/laws/federal/. Interested members of the public may also obtain additional information about the collection, including a paper copy of the proposed collection and related instructions, without charge, by contacting Gary Kuiper or John Popeo at the address or telephone numbers identified above. SUPPLEMENTARY INFORMATION: The FDIC is requesting OMB approval to revise the following collection of information: Title: National Unbanked and Underbanked Household Survey. OMB Number: 3064-0167. Frequency of Response: Once. Affected Public: U.S. households. Estimated Number of Respondents: 42,000. Average Time per Response: 12 minutes (0.2 hours) per respondent. Estimated Total Annual Burden: 0.2 hours x 42,000 respondents = 8,400 hours. General Description of Collection The FDIC recognizes that public confidence in the banking system is strengthened when banks effectively serve the broadest possible set of consumers. As a result, the agency is committed to increasing the participation of unbanked and underbanked households in the financial mainstream by ensuring that all Americans have access to safe, secure, and affordable banking services. These National Surveys of Unbanked and Underbanked Households are one contribution to this end. These National Surveys of Unbanked and Underbanked Households are also a key component of the FDIC's efforts to comply with a Congressional mandate contained in section 7 of the Federal Deposit Insurance Reform Conforming Amendments Act of 2005 (``Reform Act'') (Pub. L. 109-173), which calls for the FDIC to conduct ongoing surveys ``on efforts by insured depository institutions to bring those individuals and families who have rarely, if ever, held a checking account, a savings account or other type of transaction or check cashing account at an insured depository institution (hereafter in this section referred to as the `unbanked') into the conventional finance system.'' Section 7 further instructs the FDIC to consider several factors in its conduct of the surveys, including: (1) ``what cultural, language and identification issues as well as transaction costs appear to most prevent `unbanked' individuals from establishing conventional accounts,'' and (2) ``what is a fair estimate of the size and worth of the `unbanked' market in the United States.'' The 2015 Household Survey is designed to address these factors and provide a factual basis on the proportions of unbanked households. Such a factual basis is necessary to adequately assess banks' efforts to serve these households as required by the statutory mandate. To obtain this information, the FDIC partnered with the U.S. Census Bureau, which administered the Household Survey supplement (``FDIC Supplement') to households that participated in the January 2009, June 2011, and June 2013 CPS. The results of these surveys were released to the public in December 2009, September 2012, and October 2014, respectively. The FDIC supplement has yielded nationally-representative data, not otherwise available, on the size and characteristics of the population that is unbanked or underbanked, the use by this population of alternative financial services, and the reasons why some households do not make greater use of mainstream banking services. These National Surveys of Unbanked and Underbanked Households are the only population- representative surveys conducted at the national level that provides state-level estimates of the size and characteristics of unbanked and underbanked households for all 50 states and the District of Columbia. An executive summary of the results of the first three Household Surveys, the full reports, and the survey instruments can be accessed through the following link: http://www.economicinclusion.gov/surveys/. Consistent with the statutory mandate to conduct the surveys on an ongoing basis, the FDIC already has in place arrangements for conducting the fourth Household Survey as a supplement to the June 2015 CPS. However, prior to finalizing the next survey instrument, the FDIC seeks to solicit public comment on whether changes to the existing instrument are desirable and, if so, to what extent. It should be noted that, as a supplement of the CPS survey, the 2015 Household Survey needs to adhere to specific parameters that include limits in the length and sensitivity of the questions that can be asked of CPS respondents. Specifically, there is a strict limitation on the average time required to complete the survey. Comment Discussion On January 22, 2015 (80 FR 3234), the FDIC issued a request for comment on possible revisions to the 2015 Household Survey. The FDIC received three comments related to this survey effort. One of the commenters suggested that the FDIC collect information on household asset levels. The commenter noted that this would allow retail banks that use asset levels in their segmentation and strategy work to easily incorporate data from the 2015 Household Survey into their analyses. The FDIC seeks to provide insights from the 2015 Household Survey to inform efforts to better meet the needs of underserved consumers, and strongly encourages use of the survey data by financial institutions and other stakeholders. The FDIC is concerned that households' asset holdings may be sensitive information for many households and that asking for this information may reduce participation in the survey. In all of the surveys to date, including the 2015 Household Survey, there are no survey questions that ask households for specific dollar amounts regarding saving, assets or spending. The 2015 Household Survey does contain some new questions that will help the FDIC better understand households' savings behavior, including ways in which households save money, and about their ability to meet their monthly obligations. Detailed data on households' asset holdings are available from other sources, such as the Federal Reserve's Survey of Consumer Finances. One commenter cautioned against the use of online methods for conducting the 2015 Household Survey. The 2015 Household Survey is an interviewer-administered survey conducted by the Census Bureau in- person or by telephone. One commenter recommended that the 2015 Household Survey retain as [[Page 18404]] many questions as possible from the 2013 Survey, including questions on prepaid cards, direct deposit and reasons for not having a bank account, to allow local and national Bank-On programs to measure the impact of their efforts. The FDIC values the ability to compare results over time and the 2015 Household Survey retains successful elements of the previous surveys, including the core unbanked and underbanked measurements, while also reorganizing and adding questions to gain new insights relevant to serving a diverse range of consumers. The 2015 Household Survey retains many questions from previous surveys and continues to collect information on the use of prepaid cards, direct deposits, and the reasons for not having a bank account. One commenter suggested the addition of specific questions to measure household financial fragility to help understand the connections between emergency savings and banking access (i.e., household's ability to access $2000). The 2015 Household Survey does not include this particular question due to the need to keep the average length short to reduce non-response. However, it contains a number of new questions that will help the FDIC better understand households' financial condition. Specifically, the survey will ask about ways in which households save money, their ability to meet their monthly obligations, their income volatility, and their access to mainstream credit. One commenter suggested collecting information on a wider range of credit products. The 2015 questionnaire added a new section on the use of credit products, including mainstream banking credit products (e.g., credit cards, line of credits) to capture a more complete picture of households' use of credit. However, due to space constraints, questions are focused on mainstream credit products that are more likely to be substitutes for the small-dollar, short-term credit available from alternative financial service providers. The commenter also suggested collecting more information on the frequency of use of credit and transaction products in order to better understand households' varying intensity of use of these products. This suggestion is in part addressed by the revisions made in the 2015 survey. In addition to the use of financial products in the last 12 months, the proposed survey also asks households about their typical use of these products to better differentiate regular users from one-time users. The commenter also made suggestions to improve the usability of the online tool for analyzing the survey data that is currently available at www.economicinclusion.gov. These comments are helpful and will be taken into account the next time we consider revising the tools. One commenter encouraged the FDIC to offer training to municipalities and others on how to use and maximize the opportunities offered by the custom table generator at: www.economicinclusion.gov. The FDIC's Community Affairs staff work with local stakeholders to disseminate information about how to use and access the survey data, including the use of the table generator tool at: www.economicinclusion.gov. The FDIC will continue to make sure that this information is regularly shared in presentations and outreach materials. Request for Comment Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the FDIC's functions, including whether the information has practical utility; (b) the accuracy of the estimates of the burden of the information collection; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the information collection on respondents, including through the use of automated collection techniques or other forms of information technology. The FDIC will consider all comments to determine the extent to which the information collection should be modified prior to submission to OMB for review and approval. After the comment period closes, comments will be summarized and/or included in the FDIC's request to OMB for approval of the collection. All comments will become a matter of public record. Dated at Washington, DC, this 1st day of April 2015. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2015-07798 Filed 4-3-15; 8:45 am] BILLING CODE 6714-01-P
![18402 Federal Register / Vol. 80, No. 65 / Monday, April 6, 2015 / Notices
attempted to describe all the specific Submitter: Valent U.S.A. Corp., SUPPLEMENTARY INFORMATION: The
entities that may be affected by this (59639–EUP–RI). meetings of the CHPAC are open to the
action. Pesticide Chemical: Clothianidin. public. The CHPAC will meet on April
Summary of Request: Valent has 21 from 12:30 p.m. to 5:00 p.m., and
B. What should I consider as I prepare
submitted an application for an April 22 from 9:00 a.m. to 4:00 p.m. at
my comments for EPA?
Experimental Use Permit (EUP) the Sheraton Silver Spring, 8777
1. Submitting CBI. Do not submit this registration for Clothianidin as a Soil Georgia Avenue, Silver Spring,
information to EPA through Applied Treatment for Corn (field, pop, Maryland 20910. An agenda will be
regulations.gov or email. Clearly mark sweet) to evaluate the effectiveness on posted at epa.gov/children.
the part or all of the information that Corn Rootworm. The proposed use dates Access and Accommodations: For
you claim to be CBI. For CBI are May 15, 2015 through May 16, 2016. information on access or services for
information in a disk or CD–ROM that The registrant is requesting use on a individuals with disabilities, please
you mail to EPA, mark the outside of the combined total of 500 Acres in contact Martha Berger at 202–564–2191
disk or CD–ROM as CBI and then Minnesota, South Dakota and or berger.martha@epa.gov.
identify electronically within the disk or Wisconsin. Dated: March 12, 2015.
CD–ROM the specific information that Following the review of the
is claimed as CBI. In addition to one Martha Berger,
application and any comments and data
complete version of the comment that Designated Federal Official.
received in response to this solicitation,
includes information claimed as CBI, a EPA will decide whether to issue or [FR Doc. 2015–06876 Filed 4–3–15; 8:45 am]
copy of the comment that does not deny the EUP request, and if issued, the BILLING CODE 6560–50–P
contain the information claimed as CBI conditions under which it is to be
must be submitted for inclusion in the conducted. Any issuance of an EUP will
public docket. Information so marked be announced in the Federal Register. FEDERAL DEPOSIT INSURANCE
will not be disclosed except in CORPORATION
accordance with procedures set forth in Authority: 7 U.S.C. 136 et seq.
40 CFR part 2. Dated: March 27, 2015. Agency Information Collection
2. Tips for preparing your comments. Susan Lewis, Activities: Submission for OMB
When preparing and submitting your Director, Registration Division, Office of Review; Comment Request Regarding
comments, see the commenting tips at Pesticide Programs. the National Survey of Unbanked and
http://www.epa.gov/dockets/ [FR Doc. 2015–07823 Filed 4–3–15; 8:45 am] Underbanked Households (3064–0167)
comments.html.
3. Environmental justice. EPA seeks to
BILLING CODE 6560–50–P AGENCY: Federal Deposit Insurance
achieve environmental justice, the fair Corporation (FDIC).
treatment and meaningful involvement ACTION: Notice of information collection
ENVIRONMENTAL PROTECTION
of any group, including minority and/or AGENCY to be submitted to OMB for review and
low income populations, in the approval under the Paperwork
development, implementation, and [FRL–9925–22–OA] Reduction Act of 1995.
enforcement of environmental laws,
Notice of Meeting of the EPA’s SUMMARY: The FDIC, as part of its
regulations, and policies. To help
Children’s Health Protection Advisory continuing effort to reduce paperwork
address potential environmental justice
Committee and respondent burden and as required
issues, the Agency seeks information on
by the Paperwork Reduction Act of
any groups or segments of the AGENCY: Environmental Protection 1995, invites the general public and
population who, as a result of their Agency (EPA). other Federal agencies to comment on
location, cultural practices, or other ACTION: Notice of meeting. the survey collection instrument for its
factors, may have atypical or
fourth National Survey of Unbanked
disproportionately high and adverse SUMMARY: Pursuant to the provisions of and Underbanked Households (2015
human health impacts or environmental the Federal Advisory Committee Act, Household Survey), currently approved
effects from exposure to the pesticide(s) Public Law 92–463, notice is hereby under OMB Control No. 3064–0167,
discussed in this document, compared given that the next meeting of the scheduled to be conducted in
to the general population. Children’s Health Protection Advisory partnership with the U.S. Census
II. What action is the Agency taking? Committee (CHPAC) will be held April Bureau as a supplement to its June 2015
21 and 22, 2015 at the Sheraton Silver Current Population Survey (CPS). The
Under section 5 of the Federal Spring, 8777 Georgia Avenue, Silver
Insecticide, Fungicide and Rodenticide survey seeks to estimate the proportions
Spring, Maryland 20910. The CHPAC of unbanked and underbanked
Act (FIFRA), 7 U.S.C. 136c, EPA can was created to advise the Environmental
allow manufacturers to field test households in the U.S. and to identify
Protection Agency on science, the factors that inhibit the participation
pesticides under development. regulations, and other issues relating to
Manufacturers are required to obtain an of these households in the mainstream
children’s environmental health. banking system, and opportunities to
EUP before testing new pesticides or
DATES: The CHPAC will meet April 21 expand the use of banking services
new uses of pesticides if they conduct
and 22, 2015. among underserved consumers. The
experimental field tests on 10 acres or
more of land or one acre or more of ADDRESSES: 8777 Georgia Avenue, results of these ongoing surveys will
Silver Spring, Maryland, 20910. help policymakers and bankers
tkelley on DSK4VPTVN1PROD with NOTICES
water.
Pursuant to 40 CFR 172.11(a), the FOR FURTHER INFORMATION CONTACT: understand the issues and challenges
Agency has determined that the Martha Berger, Office of Children’s underserved households perceive when
following EUP application may be of Health Protection, USEPA, MC 1107A, deciding how and where to conduct
regional and national significance, and 1200 Pennsylvania Avenue NW., financial transactions.
therefore is seeking public comment on Washington, DC 20460, (202) 564–2191 DATES: Comments must be submitted on
the EUP application: or berger.martha@epa.gov. or before May 6, 2015.
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![18404 Federal Register / Vol. 80, No. 65 / Monday, April 6, 2015 / Notices
many questions as possible from the tool for analyzing the survey data that holding company and/or to acquire the
2013 Survey, including questions on is currently available at assets or the ownership of, control of, or
prepaid cards, direct deposit and www.economicinclusion.gov. These the power to vote shares of a bank or
reasons for not having a bank account, comments are helpful and will be taken bank holding company and all of the
to allow local and national Bank-On into account the next time we consider banks and nonbanking companies
programs to measure the impact of their revising the tools. owned by the bank holding company,
efforts. The FDIC values the ability to One commenter encouraged the FDIC including the companies listed below.
compare results over time and the 2015 to offer training to municipalities and The applications listed below, as well
Household Survey retains successful others on how to use and maximize the as other related filings required by the
elements of the previous surveys, opportunities offered by the custom Board, are available for immediate
including the core unbanked and table generator at: inspection at the Federal Reserve Bank
underbanked measurements, while also www.economicinclusion.gov. The indicated. The applications will also be
reorganizing and adding questions to FDIC’s Community Affairs staff work available for inspection at the offices of
gain new insights relevant to serving a with local stakeholders to disseminate the Board of Governors. Interested
diverse range of consumers. The 2015 information about how to use and persons may express their views in
Household Survey retains many access the survey data, including the writing on the standards enumerated in
questions from previous surveys and use of the table generator tool at: the BHC Act (12 U.S.C. 1842(c)). If the
continues to collect information on the www.economicinclusion.gov. The FDIC proposal also involves the acquisition of
use of prepaid cards, direct deposits, will continue to make sure that this a nonbanking company, the review also
and the reasons for not having a bank information is regularly shared in includes whether the acquisition of the
account. presentations and outreach materials. nonbanking company complies with the
One commenter suggested the standards in section 4 of the BHC Act
addition of specific questions to Request for Comment (12 U.S.C. 1843). Unless otherwise
measure household financial fragility to Comments are invited on: (a) Whether noted, nonbanking activities will be
help understand the connections the collection of information is conducted throughout the United States.
between emergency savings and banking necessary for the proper performance of Unless otherwise noted, comments
access (i.e., household’s ability to access the FDIC’s functions, including whether regarding each of these applications
$2000). The 2015 Household Survey the information has practical utility; (b) must be received at the Reserve Bank
does not include this particular question the accuracy of the estimates of the indicated or the offices of the Board of
due to the need to keep the average burden of the information collection; (c) Governors not later than May 1, 2015.
length short to reduce non-response. ways to enhance the quality, utility, and A. Federal Reserve Bank of San
However, it contains a number of new clarity of the information to be Francisco (Gerald C. Tsai, Director,
questions that will help the FDIC better collected; and (d) ways to minimize the Applications and Enforcement) 101
understand households’ financial burden of the information collection on Market Street, San Francisco, California
condition. Specifically, the survey will respondents, including through the use 94105–1579:
ask about ways in which households of automated collection techniques or 1. PacWest Bancorp, and Pacific
save money, their ability to meet their other forms of information technology. Western Bank, both in Los Angeles,
monthly obligations, their income The FDIC will consider all comments California; merge with Square 1
volatility, and their access to to determine the extent to which the Financial, Inc., and thereby indirectly
mainstream credit. information collection should be acquire Square 1 Bank, both in Durham,
One commenter suggested collecting modified prior to submission to OMB North Carolina.
information on a wider range of credit for review and approval. After the In connection with this application,
products. The 2015 questionnaire added Applicants have also applied to acquire
comment period closes, comments will
a new section on the use of credit Square 1 Venture Management 1, L.P.,
be summarized and/or included in the
products, including mainstream banking Durham, North Carolina, and thereby
FDIC’s request to OMB for approval of
credit products (e.g., credit cards, line of engage in funds management,
the collection. All comments will
credits) to capture a more complete investment advisory, and private
become a matter of public record.
picture of households’ use of credit. placement activities, pursuant to
However, due to space constraints, Dated at Washington, DC, this 1st day of sections 225.28(b)(6)(i), (b)(7)(i) and
questions are focused on mainstream April 2015.
(b)(7)(iii), respectively.
credit products that are more likely to Federal Deposit Insurance Corporation.
Board of Governors of the Federal Reserve
be substitutes for the small-dollar, short- Robert E. Feldman,
System, April 1, 2015.
term credit available from alternative Executive Secretary.
Michael J. Lewandowski,
financial service providers. The [FR Doc. 2015–07798 Filed 4–3–15; 8:45 am]
Associate Secretary of the Board.
commenter also suggested collecting BILLING CODE 6714–01–P
more information on the frequency of [FR Doc. 2015–07792 Filed 4–3–15; 8:45 am]
use of credit and transaction products in BILLING CODE 6210–01–P
order to better understand households’
FEDERAL RESERVE SYSTEM
varying intensity of use of these
products. This suggestion is in part FEDERAL RESERVE SYSTEM
Formations of, Acquisitions by, and
addressed by the revisions made in the Mergers of Bank Holding Companies Notice of Proposals To Engage in or
2015 survey. In addition to the use of To Acquire Companies Engaged in
tkelley on DSK4VPTVN1PROD with NOTICES
financial products in the last 12 months, The companies listed in this notice
Permissible Nonbanking Activities
the proposed survey also asks have applied to the Board for approval,
households about their typical use of pursuant to the Bank Holding Company The companies listed in this notice
these products to better differentiate Act of 1956 (12 U.S.C. 1841 et seq.) have given notice under section 4 of the
regular users from one-time users. (BHC Act), Regulation Y (12 CFR part Bank Holding Company Act (12 U.S.C.
The commenter also made suggestions 225), and all other applicable statutes 1843) (BHC Act) and Regulation Y, (12
to improve the usability of the online and regulations to become a bank CFR part 225) to engage de novo, or to
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Document Created: 2015-12-18 11:18:30
Document Modified: 2015-12-18 11:18:30
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice of information collection to be submitted to OMB for review and approval under the Paperwork Reduction Act of 1995. | |
| Dates | Comments must be submitted on or before May 6, 2015. | |
| Contact | Interested members of the public may obtain a copy of the survey and related instructions by clicking on the link for the National Unbanked and Underbanked Household Survey on the following Web page: http://www.fdic.gov/regulations/laws/federal/. Interested members of the public may also obtain additional information about the collection, including a paper copy of the proposed collection and related instructions, without charge, by contacting Gary Kuiper or | |
| FR Citation | 80 FR 18402 |
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