The CFPB expects to collect quantitative data through in-person and telephone surveys. The information collected through quantitative evaluation methods will increase OFE's understanding of what financial education program elements can improve financial decision making skills and outcomes for consumers.
The core objective of the data collection is to measure the effectiveness of selected financial education programs. This data will provide useful information on evidence-based practices that can be used to improve financial education programs nationwide, leading to better financial decision-making outcomes for adult consumers.
Estimated Total Annual Burden Hours:Below is an estimate of the aggregate burden hours for the evaluation of two (2) financial education programs.
Number ofresponses per respondent
Total burden (hours)
In-person baseline surveys
Phone-based follow-up surveys
An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless the information collection displays a currently valid OMB control number.
The Bureau issued a 60-dayFederal Registernotice on January 19, 2012, [77 FR 2684]. Comments were solicited and continue to be invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the Bureau, including whether the information shall have practical utility; (b) the accuracy of the Bureau's estimate of the burden of the collection of information, including the validity of the methodology 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, electronic, mechanical, or other technological collection techniques or other forms of information technology.
Dated: November 28, 2012.
Chief Information Officer, Bureau of Consumer Financial Protection.