81_FR_30350 81 FR 30256 - Agency Information Collection Activities: Comment Request

81 FR 30256 - Agency Information Collection Activities: Comment Request

BUREAU OF CONSUMER FINANCIAL PROTECTION

Federal Register Volume 81, Issue 94 (May 16, 2016)

Page Range30256-30257
FR Document2016-11424

In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Evaluation of Financial Empowerment Training Program.''

Federal Register, Volume 81 Issue 94 (Monday, May 16, 2016) 
[Federal Register Volume 81, Number 94 (Monday, May 16, 2016)]
[Notices]
[Pages 30256-30257]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-11424]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2016-0022]


Agency Information Collection Activities: Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comment.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA), 
the Consumer Financial Protection Bureau (Bureau) is requesting to 
renew the Office of Management and Budget (OMB) approval for an 
existing information collection titled, ``Evaluation of Financial 
Empowerment Training Program.''

DATES: Written comments are encouraged and must be received on or 
before July 15, 2016 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:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Mail: Consumer Financial Protection Bureau (Attention: PRA 
Office), 1700 G Street, NW., Washington, DC 20552.
     Hand Delivery/Courier: Consumer Financial Protection 
Bureau (Attention: PRA Office), 1275 First Street NE., Washington, DC 
20002.
    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 the Consumer Financial Protection Bureau, (Attention: PRA 
Office), 1700 G Street NW., Washington, DC 20552, (202) 435-9575, or 
email: [email protected]. Please do not submit comments to this 
mailbox.

SUPPLEMENTARY INFORMATION: 
    Title of Collection: Evaluation of Financial Empowerment Training 
Program.
    OMB Control Number: 3170-0038.
    Type of Review: Extension with change of a currently approved 
collection.
    Affected Public: Individuals, government social services entities, 
and not-for-profit institutions.
    Estimated Number of Respondents: 15,750.
    Estimated Total Annual Burden Hours: 10,338.
    Abstract: The Bureau's Office of Financial Empowerment 
(Empowerment) is responsible for developing strategies to improve the 
financial capability of low-income and economically vulnerable 
consumers, such as consumers who are unbanked or underbanked, those 
with thin or no credit file, and households with limited savings. To 
address the needs of these consumers, Empowerment has developed the 
Your Money, Your Goals toolkit and training program. These resources 
equip frontline staff and volunteers in a range of organizations to 
provide relevant and effective information, tools, and technical 
assistance designed to improve the financial outcomes and capability of 
these vulnerable consumers. The Bureau seeks to renew approval of the 
information collection plan (ICP) to collect qualitative data related 
to evaluating the effectiveness of this toolkit, collateral materials, 
and training program. The proposed collections will focus on 
evaluating: (1) Your Money, Your Goals training practices, toolkit, and 
collateral materials in enhancing the ability of frontline staff and 
volunteers to inform and educate low-income consumers about managing 
their finances; (2) and to assess the scope of workshop participants' 
use of the resources with the people they serve. The Bureau expects to 
collect qualitative data through paper-based and web-based surveys.
    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

[[Page 30257]]

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 
approval. All comments will become a matter of public record.

    Dated: May 10, 2016.
Darrin A. King,
Paperwork Reduction Act Officer, Bureau of Consumer Financial 
Protection.
[FR Doc. 2016-11424 Filed 5-13-16; 8:45 am]
 BILLING CODE 4810-AM-P

30256 Federal Register / Vol. 81, No. 94 / Monday, May 16, 2016 / Notices under Review’’, use the dropdown Comments submitted in response to this Financial Protection Bureau, (Attention: menu ‘‘Select Agency’’ and select notice will be summarized and/or PRA Office), 1700 G Street NW., ‘‘Consumer Financial Protection included in the request for OMB Washington, DC 20552, (202) 435–9575, Bureau’’ (recent submissions to OMB approval. All comments will become a or email: CFPB_PRA@cfpb.gov. Please will be at the top of the list). The same matter of public record. do not submit comments to this documentation is also available at Dated: May 10, 2016. mailbox. http://www.regulations.gov. Requests for Darrin A. King, SUPPLEMENTARY INFORMATION: additional information should be Title of Collection: Evaluation of Paperwork Reduction Act Officer, Bureau of directed to the Consumer Financial Consumer Financial Protection. Financial Empowerment Training Protection Bureau, (Attention: PRA Program. [FR Doc. 2016–11425 Filed 5–13–16; 8:45 am] Office), 1700 G Street, NW., OMB Control Number: 3170–0038. BILLING CODE 4810–AM–P Washington, DC 20552, (202) 435–9575, Type of Review: Extension with or email: CFPB_PRA@cfpb.gov. Please change of a currently approved do not submit comments to this email BUREAU OF CONSUMER FINANCIAL collection. box. PROTECTION Affected Public: Individuals, SUPPLEMENTARY INFORMATION: government social services entities, and [Docket No. CFPB–2016–0022] Title of Collection: Application not-for-profit institutions. Process for Designation of Rural Area Agency Information Collection Estimated Number of Respondents: under Federal Consumer Financial Law. Activities: Comment Request 15,750. OMB Control Number: 3170–0061. Estimated Total Annual Burden Type of Review: Extension without AGENCY: Bureau of Consumer Financial Hours: 10,338. change of a currently approved Protection. Abstract: The Bureau’s Office of collection. ACTION: Notice and request for comment. Financial Empowerment Affected Public: Private sector (banks (Empowerment) is responsible for and credit unions). SUMMARY: In accordance with the developing strategies to improve the Estimated Number of Respondents: 1. Paperwork Reduction Act of 1995 financial capability of low-income and Estimated Total Annual Burden (PRA), the Consumer Financial economically vulnerable consumers, Hours: 5. Protection Bureau (Bureau) is requesting such as consumers who are unbanked or Abstract: Section 89002 of the HELP to renew the Office of Management and underbanked, those with thin or no Rural Communities Act (Pub. L. 114–94) Budget (OMB) approval for an existing credit file, and households with limited requires the Bureau to establish an information collection titled, savings. To address the needs of these application process under which a ‘‘Evaluation of Financial Empowerment consumers, Empowerment has person may apply to have an area Training Program.’’ developed the Your Money, Your Goals designated by the Bureau as a rural area DATES: Written comments are toolkit and training program. These for purposes of a Federal consumer encouraged and must be received on or resources equip frontline staff and financial law. On March 3, 2016, the before July 15, 2016 to be assured of volunteers in a range of organizations to Bureau published a Final rule in the consideration. provide relevant and effective Federal Register (81 FR 11099) which ADDRESSES: You may submit comments, information, tools, and technical sets forth the procedure for making this identified by the title of the information assistance designed to improve the application and requires the applicant collection, OMB Control Number (see financial outcomes and capability of to submit information identifying the below), and docket number (see above), these vulnerable consumers. The Bureau area for which the request is made, and by any of the following methods: seeks to renew approval of the the justification for granting the area • Electronic: http:// information collection plan (ICP) to rural status. While the rule specifies www.regulations.gov. Follow the collect qualitative data related to what information is to be included, it instructions for submitting comments. evaluating the effectiveness of this does not specify to the form or format • Mail: Consumer Financial toolkit, collateral materials, and training of the information. Protection Bureau (Attention: PRA program. The proposed collections will Request for Comments: The Bureau Office), 1700 G Street, NW., focus on evaluating: (1) Your Money, issued a 60-day Federal Register notice Washington, DC 20552. Your Goals training practices, toolkit, on February 18, 2016 (81 FR 8179). • Hand Delivery/Courier: Consumer and collateral materials in enhancing Comments were solicited and continue Financial Protection Bureau (Attention: the ability of frontline staff and to be invited on: (a) Whether the PRA Office), 1275 First Street NE., volunteers to inform and educate low- collection of information is necessary Washington, DC 20002. income consumers about managing their for the proper performance of the Please note that comments submitted finances; (2) and to assess the scope of functions of the Bureau, including after the comment period will not be workshop participants’ use of the whether the information will have accepted. In general, all comments resources with the people they serve. practical utility; (b) The accuracy of the received will become public records, The Bureau expects to collect Bureau’s estimate of the burden of the including any personal information qualitative data through paper-based collection of information, including the provided. Sensitive personal and web-based surveys. validity of the methods and the information, such as account numbers Request for Comments: Comments are asabaliauskas on DSK3SPTVN1PROD with NOTICES assumptions used; (c) Ways to enhance or Social Security numbers, should not invited on: (a) Whether the collection of the quality, utility, and clarity of the be included. information is necessary for the proper information to be collected; and (d) FOR FURTHER INFORMATION CONTACT: performance of the functions of the Ways to minimize the burden of the Documentation prepared in support of Bureau, including whether the collection of information on this information collection request is information will have practical utility; respondents, including through the use available at www.regulations.gov. (b) The accuracy of the Bureau’s of automated collection techniques or Requests for additional information estimate of the burden of the collection other forms of information technology. should be directed to the Consumer of information, including the validity of VerDate Sep<11>2014 18:48 May 13, 2016 Jkt 238001 PO 00000 Frm 00020 Fmt 4703 Sfmt 4703 E:\FR\FM\16MYN1.SGM 16MYN1

Federal Register / Vol. 81, No. 94 / Monday, May 16, 2016 / Notices 30257 the methods and the assumptions used; that is fair, transparent, and reporting, debt collection, mortgage (c) Ways to enhance the quality, utility, competitive, and that works for all origination, remittances, student loan and clarity of the information to be consumers. One of the tools the CFPB servicing, and fair lending. As the collected; and (d) Ways to minimize the uses to further this goal is the CFPB’s Supervision program progresses, burden of the collection of information supervision of bank and nonbank we will continue to share positive on respondents, including through the institutions that offer consumer practices found in the course of use of automated collection techniques financial products and services. In this examinations (see sections 2.2.1, 2.4.4, or other forms of information tenth edition of Supervisory Highlights, and 2.5.1), as well as common technology. Comments submitted in the CFPB shares recent supervisory opportunities for improvement. response to this notice will be observations in the areas of consumer One such common area for summarized and/or included in the reporting, debt collection, mortgage improvement is the accuracy of request for OMB approval. All origination, remittances, student loan information about consumers that is comments will become a matter of servicing, and fair lending. One of the supplied to consumer reporting public record. Bureau’s goals is to provide information agencies. As discussed in previous that enables industry participants to issues, credit reports are vital to a Dated: May 10, 2016. ensure their operations remain in consumer’s access to credit; they can be Darrin A. King, used to determine eligibility for credit, compliance with Federal consumer Paperwork Reduction Act Officer, Bureau of financial law. The findings reported and how much consumers will pay for Consumer Financial Protection. that credit. Given this, the accuracy of here reflect information obtained from [FR Doc. 2016–11424 Filed 5–13–16; 8:45 am] supervisory activities completed during information furnished by financial BILLING CODE 4810–AM–P the period under review as captured in institutions to consumer reporting examination reports or supervisory agencies is of the utmost importance. As letters. In some instances, not all in the last issue of Supervisory BUREAU OF CONSUMER FINANCIAL corrective actions, including through Highlights, this issue shares PROTECTION enforcement, have been completed at observations regarding the furnishing of the time of this report’s publication. consumer information across a number Supervisory Highlights: Winter 2016 The CFPB’s supervisory activities of product areas (see sections 2.1.1, AGENCY: Bureau of Consumer Financial have either led to or supported three 2.1.2, 2.1.4, 2.2.1 and 2.5.5). Protection. recent public enforcement actions, 2.1 Consumer Reporting ACTION: Supervisory Highlights; notice. resulting in $52.75 million in consumer remediation and other payments and an CFPB examiners conducted one or SUMMARY: The Bureau of Consumer additional $8.5 million in civil money more reviews of compliance with Financial Protection (CFPB) is issuing penalties. The Bureau also imposed furnisher obligations under the Fair its tenth edition of its Supervisory other corrective actions at these Credit Reporting Act (FCRA) and its Highlights. In this issue, the CFPB institutions, including requiring implementing regulation, Regulation V, shares findings from recent improved compliance management at depository institutions. The reviews examinations in the areas of student systems (CMS). In addition to these focused on (i) entities furnishing loan servicing, remittances, mortgage public enforcement actions, Supervision information (furnishers) to nationwide origination, debt collection, and continues to resolve violations using specialty consumer reporting agencies consumer reporting. This issue also non-public supervisory actions. When (NSCRAs) that specialize in reporting in shares important updates to past fair Supervision examinations determine connection with deposit accounts and lending settlements reached by the that a supervised entity has violated a (ii) NSCRAs themselves. CFPB. As in past editions, this report statute or regulation, Supervision 2.1.1 Furnisher Failure To Have includes information about recent directs the entity to implement Reasonable Policies and Procedures public enforcement actions that appropriate corrective measures, Regarding Information Furnished to resulted, at least in part, from our including remediation of consumer NSCRAs supervisory work. Finally, the report harm when appropriate. Recent supervisory resolutions have resulted in Regulation V requires companies that recaps recent developments to the restitution of approximately $14.3 furnish information to consumer CFPB’s supervision program, such as million to more than 228,000 reporting companies to establish and the release of updated fair lending consumers. Other corrective actions implement reasonable written policies examination procedures and guidance have included, for example, furnishing and procedures regarding the accuracy documents in the areas of credit corrected information to consumer and integrity of the information they reporting, in-person debt collection, and reporting agencies, improving training furnish. Whether policies and preauthorized electronic fund transfers. for employees to prevent various law procedures are reasonable depends on DATES: The Bureau released this edition the nature, size, complexity, and scope of the Supervisory Highlights on its Web violations, and establishing and maintaining required policies and of each furnisher’s activities. Examiners site on March 8, 2016. found that while one or more furnishers procedures. FOR FURTHER INFORMATION CONTACT: This report highlights supervision had policies and procedures generally Christopher J. Young, Managing Senior work generally completed between pertaining to FCRA furnishing Counsel and Chief of Staff, Office of obligations, they failed to have policies asabaliauskas on DSK3SPTVN1PROD with NOTICES September 2015 and December 2015, Supervision Policy, 1700 G Street NW., though some completion dates may and procedures addressing the 20552, (202) 435–7408. vary. Any questions or comments from furnishing of information related to SUPPLEMENTARY INFORMATION: supervised entities can be directed to deposit accounts. One or more CFPB_Supervision@cfpb.gov. furnishers also lacked processes or 1. Introduction policies to verify data furnished through The Consumer Financial Protection 2. Supervisory Observations automated internal systems. For Bureau (CFPB or Bureau) is committed Summarized below are some recent example, one or more furnishers to a consumer financial marketplace examination observations in consumer established automated systems to VerDate Sep<11>2014 18:48 May 13, 2016 Jkt 238001 PO 00000 Frm 00021 Fmt 4703 Sfmt 4703 E:\FR\FM\16MYN1.SGM 16MYN1


Document Created: 2016-05-14 01:17:13
Document Modified: 2016-05-14 01:17:13
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice and request for comment.
DatesWritten comments are encouraged and must be received on or before July 15, 2016 to be assured of consideration.
ContactDocumentation prepared in support of this information collection request is available at www.regulations.gov. Requests for additional information should be directed to the Consumer Financial Protection Bureau, (Attention: PRA Office), 1700 G Street NW., Washington, DC 20552, (202) 435-9575, or email: [email protected] Please do not submit comments to this mailbox.
FR Citation81 FR 30256 
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