Notice2023-04070
Agency Information Collection Activities: Proposed Collection Renewal; Comment Request
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
February 28, 2023
Issuing agencies
Federal Deposit Insurance Corporation
Abstract
The FDIC, as part of its obligations under the Paperwork Reduction Act of 1995, invites the general public and other Federal agencies to take this opportunity to comment on the request to renew the existing information collection (OMB Control No. 3064-0215) for its eighth biennial survey of households, which has been renamed the FDIC National Survey of Unbanked and Underbanked Households (Household Survey). This survey was previously named the Survey of Household Use of Banking and Financial Services. The Household Survey is scheduled to be conducted in partnership with the U.S. Census Bureau as a supplement to its June 2023 Current Population Survey (CPS). The survey collects information on U.S. households' use of bank accounts, prepaid cards, nonbank online payment services and nonbank financial transaction services, and bank and nonbank credit. The results of these biennial surveys will be published by the FDIC, and help inform policymakers, bankers, and researchers about bank account ownership and how households use the banking system and nonbank products and services to meet their financial needs. On November 14, 2022, the FDIC requested comment for 60 days on the proposed information collection. No comments were received. The FDIC hereby gives notice of its plan to submit to OMB a request to approve this information collection, and again invites comment on the information collection.
Full Text
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<title>Federal Register, Volume 88 Issue 39 (Tuesday, February 28, 2023)</title>
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[Federal Register Volume 88, Number 39 (Tuesday, February 28, 2023)]
[Notices]
[Pages 12679-12680]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-04070]
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FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0215]
Agency Information Collection Activities: Proposed Collection
Renewal; Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
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SUMMARY: The FDIC, as part of its obligations under the Paperwork
Reduction Act of 1995, invites the general public and other Federal
agencies to take this opportunity to comment on the request to renew
the existing information collection (OMB Control No. 3064-0215) for its
eighth biennial survey of households, which has been renamed the FDIC
National Survey of Unbanked and Underbanked Households (Household
Survey). This survey was previously named the Survey of Household Use
of Banking and Financial Services. The Household Survey is scheduled to
be conducted in partnership with the U.S. Census Bureau as a supplement
to its June 2023 Current Population Survey (CPS). The survey collects
information on U.S. households' use of bank accounts, prepaid cards,
nonbank online payment services and nonbank financial transaction
services, and bank and nonbank credit. The results of these biennial
surveys will be published by the FDIC, and help inform policymakers,
bankers, and researchers about bank account ownership and how
households use the banking system and nonbank products and services to
meet their financial needs. On November 14, 2022, the FDIC requested
comment for 60 days on the proposed information collection. No comments
were received. The FDIC hereby gives notice of its plan to submit to
OMB a request to approve this information collection, and again invites
comment on the information collection.
DATES: Comments must be submitted on or before March 30, 2023.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC by any of the following methods:
<bullet> Agency Website: <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/">https://www.fdic.gov/resources/regulations/federal-register-publications/</a>.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#ddbeb2b0b0b8b3a9ae9dbbb9b4bef3bab2ab"><span class="__cf_email__" data-cfemail="40232f2d2d252e343300262429236e272f36">[email protected]</span></a>. Include the name and number of
the collection in the subject line of the message.
<bullet> Mail: Manny Cabeza (202-898-3767), Regulatory Counsel, MB-
3128, Federal Deposit Insurance Corporation, 550 17th Street NW,
Washington, DC 20429.
<bullet> Hand Delivery: Comments may be hand-delivered to the guard
station at the rear of the 17th Street NW building (located on F Street
NW), on business days between 7:00 a.m. and 5:00 p.m.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular information
collection by selecting ``Currently under 30-day Review--Open for
Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Manny Cabeza, Regulatory Counsel, 202-
898-3767, <a href="/cdn-cgi/l/email-protection#630e0002010619022305070a004d040c15"><span class="__cf_email__" data-cfemail="2e434d4f4c4b544f6e484a474d00494158">[email protected]</span></a>, MB-3128, Federal Deposit Insurance
Corporation, 550 17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION: Proposal to renew the following currently
approved collection of information:
Title: FDIC National Survey of Unbanked and Underbanked Households.
OMB Number: 3064-0215.
Frequency of Response: Once.
Affected Public: Individuals residing in U.S. Households.
Estimated Number of Respondents: 40,000.
Average time per Response: 9 minutes (0.15 hours) per respondent.
Estimated Total Annual Burden: 6,000 hours.
General Description of Collection
The FDIC is committed to expanding Americans' access to safe,
secure, and affordable banking services, which is integral to the
FDIC's mission of maintaining the stability of and public confidence in
the U.S. financial system. The FDIC National Survey of Unbanked and
Underbanked Households (Household Survey) is one contribution to this
end. The Household Survey is 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 Household Survey collects information on bank account ownership
which provides a factual basis for measuring the number and percentage
of households that are unbanked. The Household Survey is the only
population-representative survey conducted at the national level that
provides state-level estimates of the size and characteristics of
unbanked households for all 50 states and the District of Columbia. The
Household Survey also collects information from unbanked households
about the reasons that they do not have a bank account and their
interest in having a bank account.
Increasingly, financial products and services are provided by
nonbanks, many through the use of a mobile phone app. Households are
selecting different combinations of bank and nonbank financial products
and services to meet their core banking needs. Consequently, the
Household Survey has broadened its focus to include a wide range of
bank and nonbank financial products and services and to collect
information on whether and how households are using these in
combination.
To obtain this information, the FDIC partners with the U.S. Census
Bureau, which administers the Household Survey supplement (FDIC
Supplement) to households that participate in the CPS. The FDIC
supplement has been
[[Page 12680]]
administered every other year since January 2009. The previous survey
questionnaires and survey results can be accessed through the following
link: <a href="http://fdic.gov/analysis/household-survey">http://fdic.gov/analysis/household-survey</a>.
In accordance with the statutory mandate to conduct the surveys on
an ongoing basis, the FDIC already has in place arrangements for
conducting the eighth Household Survey as a supplement to the June 2023
CPS. Prior to finalizing the 2023 survey questionnaire, 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 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. Interested
members of the public may obtain a copy of the proposed survey
questionnaire on the following web page: <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/2023/2023-fdic-household-survey-instrument.pdf">https://www.fdic.gov/resources/regulations/federal-register-publications/2023/2023-fdic-household-survey-instrument.pdf</a>.
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,
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. All
comments will become a matter of public record.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on February 23, 2023.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2023-04070 Filed 2-27-23; 8:45 am]
BILLING CODE 6714-01-P
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