Consumer Credit Card Market Report of the Bureau of Consumer Financial Protection, 2021
| Published date | 04 October 2021 |
| Citation | 86 FR 54681 |
| Record Number | 2021-21567 |
| Section | Notices |
| Court | Consumer Financial Protection Bureau |
54681
Federal Register / Vol. 86, No. 189 / Monday, October 4, 2021 / Notices
approval phase of the regulatory review
period is reasonably expected to extend
beyond the expiration date of the patent.
On September 23, 2021, Medac
Gesellschaft fur Klinische
Spezialpraparate mbH, the owner of
record of the ‘162 patent, timely filed an
application under 35 U.S.C. 156(d)(5)
for a first interim extension of the term
of the ‘162 patent. The ‘162 patent
claims a method of using the human
drug product known by the tradename
GRAFAPEX
TM
(dihydroxybusulfan).
The application for interim patent term
extension indicates that a regulatory
review period (RRP) as described in 35
U.S.C. 156(g)(1)(B)(ii) began for
GRAFAPEX
TM
(dihydroxybusulfan) and
is ongoing before the Food and Drug
Administration for permission to market
and use the product commercially.
Review of the interim patent term
extension application indicates that,
except for permission to market or use
the product commercially, the ‘162
patent would be eligible for an
extension of the patent term under 35
U.S.C. 156. Because it is apparent that
the RRP will continue beyond the
original expiration date of the ‘162
patent, i.e., October 12, 2021, interim
extension of the patent term under 35
U.S.C. 156(d)(5) is appropriate.
A first interim extension under 35
U.S.C. 156(d)(5) of the term of U.S.
Patent No. 7,199,162 is granted for a
period of one year from the original
expiration date of the ‘162 patent.
Robert Bahr,
Deputy Commissioner for Patents, United
States Patent and Trademark Office.
[FR Doc. 2021–21472 Filed 10–1–21; 8:45 am]
BILLING CODE 3510–16–P
DEPARTMENT OF COMMERCE
Patent and Trademark Office
[Docket No. PTO–P–2021–0053]
Grant of Interim Extension of the Term
of U.S. Patent No. 6,406,699; ECI
®
(ELIAS Cancer Immunotherapy)
AGENCY
: United States Patent and
Trademark Office, Department of
Commerce.
ACTION
: Notice of interim patent term
extension.
SUMMARY
: The United States Patent and
Trademark Office has issued an order
granting a one-year interim extension of
the term of U.S. Patent No. 6,406,699
(‘699 patent).
FOR FURTHER INFORMATION CONTACT
: Raul
Tamayo, Senior Legal Advisor, Office of
Patent Legal Administration, by
telephone at 571–272–7728 or by email
to raul.tamayo@uspto.gov.
SUPPLEMENTARY INFORMATION
: 35 U.S.C.
156 generally provides that the term of
a patent may be extended for a period
of up to five years, if the patent claims
a product, or a method of making or
using a product, that has been subject to
certain defined regulatory review. 35
U.S.C. 156(d)(5) generally provides that
the term of such a patent may be
extended for no more than five interim
periods of up to one year each, if the
approval phase of the regulatory review
period is reasonably expected to extend
beyond the expiration date of the patent.
On August 25, 2021, TVAX
Biomedical I, LLC, the owner of record
of the ‘699 patent, timely filed an
application under 35 U.S.C. 156(d)(5)
for a third interim extension of the term
of the ‘699 patent. The ‘699 patent
claims a method of using a veterinary
biological product in the cancer
immunotherapy treatment known by the
tradename ECI
®
(ELIAS Cancer
Immunotherapy). The application for
interim patent term extension indicates
that an application for a license for the
veterinary biological product was
submitted under the Virus-Serum-Toxin
Act and is currently undergoing
regulatory review by the United States
Department of Agriculture, Center for
Veterinary Biologics.
Review of the interim patent term
extension application indicates that,
except for permission to market or use
the product commercially, the ‘699
patent would be eligible for an
extension of the patent term under 35
U.S.C. 156. Because it appears the
approval phase of the regulatory review
period will continue beyond the
extended expiration date of the ‘699
patent, i.e., October 5, 2021, further
interim extension of the patent term
under 35 U.S.C. 156(d)(5) is appropriate.
A third interim extension under 35
U.S.C. 156(d)(5) of the term of U.S.
Patent No. 6,406,699 is granted for a
period of one year from the extended
expiration date of the ‘699 patent.
Robert Bahr,
Deputy Commissioner for Patents, United
States Patent and Trademark Office.
[FR Doc. 2021–21471 Filed 10–1–21; 8:45 am]
BILLING CODE 3510–16–P
BUREAU OF CONSUMER FINANCIAL
PROTECTION
Consumer Credit Card Market Report
of the Bureau of Consumer Financial
Protection, 2021
AGENCY
: Bureau of Consumer Financial
Protection.
ACTION
: Consumer Credit Card Market
Report of the Bureau of Consumer
Financial Protection Bureau.
SUMMARY
: The Bureau of Consumer
Financial Protection (Bureau) is issuing
its fifth biennial Consumer Credit Card
Market Report to Congress. The report
reviews developments in this consumer
market since the Bureau’s most recent
biennial report on the same subject in
2019.
DATES
: The Bureau released the 2021
Consumer Credit Card Market Report on
its website on September 29, 2021.
FOR FURTHER INFORMATION CONTACT
: Wei
Zhang, Credit Card Program Manager,
Division of Research, Markets &
Regulations (wei.zhang@cfpb.gov), or
Margaret Seikel, Financial Analyst,
Division of Research, Markets &
Regulations (margaret.seikel@cfpb.gov).
If you require this document in an
alternative electronic format, please
contact CFPB_Accessibility@cfpb.gov.
SUPPLEMENTARY INFORMATION
:
Message From David Uejio, Acting
Director
Credit cards are one of the most
commonly-held and widely-used
financial products in America—over
175 million Americans hold at least one
credit card. During the COVID–19
pandemic, credit cards played a vital
role as both a source of credit in
emergencies and a payment method as
more transactions occurred online.
As the fifth biennial report to
Congress on the credit card market, this
report details how swift actions by both
the public and private sectors likely
impacted how many consumers used
their credit cards and managed their
debts during the pandemic. To address
hardships caused by COVID–19, the
Federal government provided
consumers direct relief by issuing a
series of economic impact payments,
providing enhanced unemployment
benefits, suspending student loan
payments and interest accrual for
federally held loans, offering mortgage
forbearance, and enacting a moratorium
on evictions. At the same time, credit
card issuers provided voluntary relief to
consumers by offering payment deferral
and fee waivers.
Supported by these efforts, this report
finds that the decline in credit card debt
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1
Bureau of Consumer Fin. Prot., Consumer
Response Annual Report, at 39 (Mar. 2021), https://
files.consumerfinance.gov/f/documents/cfpb_2020-
consumer-response-annual-report_03-2021.pdf
Billing disputes remain the largest complaint
category.
2
See Press Release, J.D. Power, Customers Losing
Faith in Credit Card Issuers as COVID–19 Pandemic
Lingers, J.D. Power Finds (Aug. 20, 2020), https://
www.jdpower.com/business/press-releases/2020-us-
credit-card-satisfaction-study.
3
Bd. of Governors for the Fed. Rsrv. Sys., Report
to the Congress on the Profitability of Credit Card
Operations of Depository Institutions (July 2021),
https://www.federalreserve.gov/publications/files/
ccprofit2021.pdf.
4
Reference in this report to any specific
commercial product, service, firm, or corporation
name is for the information and convenience of the
public and does not constitute endorsement or
recommendation by the Bureau.
5
The Act superseded a number of earlier
regulations that had been finalized, but had not yet
become effective, by the Office of Thrift
Supervision (OTS), the National Credit Union
Administration (NCUA), and the Board of
Governors of the Federal Reserve System. Those
earlier rules were announced in December of 2008
and published in the Federal Register the following
month. See 74 FR 5244 (Jan. 29, 2009); 74 FR 5498
(Jan. 29, 2009). The rules were withdrawn in light
of the CARD Act. See 75 FR 7657, 75 FR 7925 (Feb.
22, 2010).
6
See Bureau of Consumer Fin. Prot., Card Act
Report (Oct. 1, 2013) (2013 Report), http://
files.consumerfinance.gov/f/201309_cfpb_card-act-
report.pdf; Bureau of Consumer Fin. Prot., The
Consumer Credit Card Market (Dec. 2015) (2015
Report), http://files.consumerfinance.gov/f/201512_
cfpb_report-the-consumer-credit-card-market.pdf;
Bureau of Consumer Fin. Prot., The Consumer
Credit Card Market (Dec. 2017) (2017 Report),
https://files.consumerfinance.gov/f/documents/
cfpb_consumer-credit-card-market-report_2017.pdf;
Consumer Fin. Prot., The Consumer Credit Card
Market (Aug. 2010) (2019 Report), https://
files.consumerfinance.gov/f/documents/cfpb_
consumer-credit-card-market-report_2019.pdf. The
Bureau also held a conference in 2011 in which
numerous market stakeholders contributed
information and perspective on developments in
the credit card market. See Press Release, Bureau
of Consumer Fin. Prot., CFPB Launches Public
Inquiry on the Impact of the Card Act (Dec. 19,
2012), https://www.consumerfinance.gov/about-us/
newsroom/consumer-financial-protection-bureau-
launches-public-inquiry-on-the-impact-of-the-card-
act.
7
Credit Card Accountability Responsibility and
Disclosure Act of 2009, Public Law 111–24, 123
Stat. 1734 (2009).
8
Public Law 96–354, 94 Stat. 1164 (1980) (5
U.S.C. 601 et seq.).
during the pandemic was
unprecedented in speed and magnitude.
Measures of consumer stress, such as
late payment incidence and the share of
accounts delinquent, hit record lows.
This report also highlights areas in the
credit card market that may entail risks
for consumers such as system
deficiencies related to implementing
relief programs and automatic payment
processes. The Bureau continues to
monitor indicators of credit card use,
cost, and availability to identify
potential for consumer harm, as well as
study the impact of new, innovative
products.
Our credit card market report is
intended to present the latest research
on this vital market to consumers,
issuers, and policymakers. As many
consumers, particularly those with non-
prime credit scores, still face numerous
hardships due to COVID–19, this report
remains critical. The Bureau will carry
out its mission in ensuring this market
continues to benefit all participants
during these times of heightened
uncertainty.
1. Consumer Credit Card Market Report
of the Bureau of Consumer Financial
Protection, 2021
Credit cards are central to the
financial lives of over 175 million
American consumers. Over the last few
years and through 2019, the credit card
market, the largest U.S. consumer
lending market measured by number of
users, continued to grow in almost all
measures until suddenly reversing
course in March 2020. Despite
macroeconomic shocks to the financial
system, credit card market conditions
remain relatively stable at the time of
this report writing, with that stability
likely supported by robust fiscal
measures, lower consumer discretionary
spending, and voluntary industry relief
programs.
The COVID–19 pandemic
significantly impacted how many
consumers used and interacted with
credit cards. Far fewer consumers
applied for new credit cards in 2020
than the year prior. During the
pandemic, existing cardholders paid off
the highest share of their credit card
debt in recent years. Additionally, late
payment and default rates fell to historic
lows, most notably for consumers with
below-prime scores.
At the same time, credit cards
continued to play a vital role as both a
payment method and source of credit.
Consumers still used their cards to
facilitate transactions, smooth
consumption, and earn rewards. As
physical stores closed and a greater
share of commerce was transacted
digitally, cardholders benefited from the
consumer protections afforded to credit
cards such as limitations on liability
and enhanced security.
In response to pandemic-related
hardship, issuers provided a
considerable number of payment
deferrals and fee waivers to their
cardholders in 2020. However,
consumers calling their credit card
issuers often faced long wait times to
access these relief programs.
Additionally, complaints submitted to
the Bureau regarding credit cards spiked
in the second quarter of 2020 and
remained elevated throughout the year.
1
Overall reported satisfaction with credit
cards issuers fell significantly during
the pandemic but remained higher than
post-Great Recession levels.
2
Despite
these indicators of lower consumer
satisfaction, credit card issuers continue
to generate profitable annual returns
consistent with historic levels relative to
other market lending activities even
with an initial decline during the first
half of 2020.
3
In 2019 and 2020, innovation
continued to reshape the credit card
market for both users and providers.
New providers, including large and
small financial institutions as well as
startup and mainstream technology
companies have entered—or are in the
process of entering—the market with
competing products, features, and
methods for issuing credit cards.
4
1.1 Background
In 2009, Congress passed the Credit
Card Accountability Responsibility and
Disclosure Act (CARD Act or Act).
5
The
Act made substantial changes to the
credit card market. The CARD Act
mandated new disclosures and
underwriting standards, curbed certain
fees, and restricted interest rate
increases on existing balances. Among
the CARD Act’s many provisions was a
requirement that the Board of Governors
of the Federal Reserve System (Board)
report every two years on the state of the
consumer credit card market. With the
passage of the Dodd-Frank Wall Street
Reform and Consumer Protection Act
(Dodd-Frank Act) in 2010, that
requirement transferred to the Bureau of
Consumer Financial Protection (Bureau)
alongside broader responsibility for
administering most of the CARD Act’s
provisions. This is the fifth report
published pursuant to that obligation,
building on prior reports published by
the Bureau in 2013, 2015, 2017, and
2019.
6
The CARD Act was enacted over ten
years ago.
7
Since its passage,
researchers, including the Bureau, have
studied the effects of the CARD Act on
the cost and availability of credit to
consumers. This year the Bureau
conducted a review of rules
implementing the Act per section 610 of
the Regulatory Flexibility Act,
8
and the
Bureau expects to release its
determination this fall.
1.2 Publication
In addition to being delivered to
Congress, the full report is available to
the public on the Bureau’s website at
https://files.consumerfinance.gov/f/
documents/cfpb_consumer-credit-card-
market-report_2021.pdf.
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9
15 U.S.C. 1616(b) (2012).
10
Request for Information Regarding Consumer
Credit Card Market, 85 FR 53299 (Aug. 28, 2020).
11
These trends of constricting credit availability
do not appear to continue in 2021. See Corinne
Candilis & Ryan Sandler, Credit card limits are
rising for most groups after stagnating during the
pandemic, Bureau of Consumer Fin. Prot. (Aug. 11,
2021), https://www.consumerfinance.gov/about-us/
blog/credit-card-limits-rising-for-most-groups-after-
stagnating-during-pandemic/.
12
Press Release, Bureau of Consumer Fin. Prot.,
CFPB Takes Steps to Facilitate LIBOR Transition
(Jun. 4, 2020),
https://www.consumerfinance.gov/about-us/
newsroom/cfpb-facilitates-libor-transition/.
13
85 FR 36938 (Jun. 18, 2020), https://
www.govinfo.gov/content/pkg/FR-2020-06-18/pdf/
2020-12239.pdf.
1.3 Summary of Report
The full 2021 report reviews the state
of the consumer credit card market as of
the end of 2020. In addition to
mandating the Bureau’s biennial review
and report on the market, the Act also
requires the Bureau to ‘‘solicit comment
from consumers, credit card issuers, and
other interested parties’’ in connection
with its review.
9
As in past years, the
Bureau has done so through a Request
for Information (RFI) published in the
Federal Register, and the Bureau
discusses specific evidence or
arguments provided by commenters
throughout the report.
10
This report continues the approach of
the Bureau’s previous reports. The
Bureau revisits similar baseline
indicators to track key market
developments and trends. It also revisits
some in-depth topics to assess how the
market has changed. For example, the
current report updates the deferred
interest analysis last conducted in the
2017 Report. The Bureau also discusses
the effects of COVID–19 throughout the
report and specifically adds a section
about its impact on credit card issuers
and their responses to consumers’
needs.
Below is a summary of the core
findings from each section of the report:
•Total outstanding credit card
balances continued to grow and peaked
in 2019 at $926 billion, but, by the
second quarter of 2020, consumers
reduced card balances to $811 billion,
the largest six-month reduction in U.S.
history. At the end of 2020, debt crept
back up to $825 billion. The share of
accounts with a revolving balance
declined in 2020, and more consumers
paid down their card debt in 2020.
Utilization rates declined across credit
score tiers, and the share of consumers
with below-prime scores who used 90
percent or more of their general purpose
credit line fell to record lows. A
declining share of consumers were late
in making their payments as of the
second quarter of 2020.
•The total cost of credit (TCC) on
revolving accounts continued to
increase through 2019 but declined
modestly in 2020. The 2020 declines in
TCC for general purpose and private
label cards were 0.8 and 1.5 percentage
points, respectively. Recent TCC
decreases are largely a result of
decreases in the indices underlying
variable rates, such as the prime rate,
and lower overall fees assessed. The
Bureau estimates that the five rate
decreases by the Federal Reserve from
early-2019 through 2020 led to a
cumulative roughly $18 billion that
credit card borrowers did not pay over
that period. Accounts held by
consumers with deep subprime credit
scores saw the greatest drop in fee-to-
balance ratios in 2020.
•Most measures of credit card
availability decreased in 2020 after
continued growth since the Great
Recession. Application volume for
credit cards decreased sharply in 2020
from its peak level in 2019, likely due
to the interaction between reduced
acquisition efforts by issuers and a
decline in consumer demand. Approval
rates also declined modestly in 2020.
Driven by these contractions in both
supply and demand, annual growth in
the number of credit card accounts
opened and the amount of credit line on
new accounts reached its lowest level
since 2013. Total credit line across all
consumer credit cards fell slightly in
2020 from a post-Great Recession high
of over $4.5 trillion in 2019 but
remained above 2018 levels. Existing
accounts held by consumers with
subprime and deep subprime scores saw
the greatest constriction in available
line.
11
While credit line decrease (CLD)
incidence increased for consumers with
below-prime credit scores, issuers did
not substantially deviate from previous
line management trends during the
pandemic.
•Digital engagement is growing
consistently across all age groups and
nearly every platform type. The share of
consumers electing to receive
statements digitally (e-statements) rather
than by mail is continuing to increase,
though the pace of adoption tapered in
2020. E-statement adoption has been
surpassed by mobile app adoption as a
method to engage with issuers.
•Many consumers received some
form of relief on their credit card debts
from their credit card providers during
the pandemic. The Bureau estimates
that over 25 million consumer credit
card accounts representing
approximately $68 billion in
outstanding credit card debt entered
relief programs in 2020, figures vastly
higher than in prior years. The Bureau
also estimates that surveyed issuers’
cardholders were able to forgo principal
payments of anywhere from $0.5 billion
to $1.5 billion against their credit card
debts in 2020 due to these relief
programs. Entries into payment deferral
relief were spread fairly evenly across
credit score tiers, but accounts held by
consumers with lower scores received
payment deferrals at the highest rate.
•Since the 2019 Report, issuers have
lowered the range of their daily limits
on debt collection phone calls for
delinquent credit card accounts while
increasing the use of emails in
collection. However, survey
respondents reported that, on average,
only 31.9 percent of accounts that
received email clicked open their
emails.
•Innovations aimed at expanding
credit access, particularly for less
creditworthy borrowers, continued to
grow in both the number of offerings
and users. Buy Now, Pay Later (BNPL)
products are offering a new form of
purchasing with payments spread out
over time, typically in four installments.
Credit card issuers are offering similar
plans, providing consumers more ways
to manage their cash flow.
1.4 Current and Future Bureau Work
in This Market
Over the past two years, the Bureau
has been actively engaged in the credit
card market and is taking measures to
address regulatory uncertainty, identify
compliance deficiencies as well as
research new emerging technologies and
products to ensure the adequacy of
consumer protection and a transparent
and competitive marketplace for all
consumers. The Bureau is continuing to
study and consider actions to address
the areas of concerns noted in the full
report, but for reasons described in the
full report, the Bureau is not proposing
additional new or revised regulations at
this moment, beyond the current and
future Bureau work described here and
in the full report.
•In June of 2020, the Bureau released
a Notice of Proposed Rulemaking
(NPRM) concerning the anticipated
discontinuation of LIBOR,
12
including
proposing examples of replacement
indices that satisfy Regulation Z
requirements.
13
As proposed, the rule
would allow credit card issuers to
replace the LIBOR index used in setting
variable rates on many existing accounts
with a replacement index before LIBOR
becomes unavailable, if certain
conditions were met. To the Bureau’s
knowledge, there are millions of
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14
Office of Info. & Regulatory Affairs,
Amendments to Regulation Z to Facilitate
Transition From LIBOR (2021), https://
www.reginfo.gov/public/do/eAgendaViewRule
?pubId=202104&RIN=3170-AB01.
15
Bureau of Consumer Fin. Prot., Supervisory
Highlights COVID–19 Prioritized Assessments
Special Edition, Issue 23 (Jan. 2021), https://
files.consumerfinance.gov/f/documents/cfpb_
supervisory-highlights_issue-23_2021-01.pdf.
16
Bureau of Consumer Fin. Prot., Tech Sprint on
Electronic Disclosures of Adverse Action Notices
(Oct. 2020), https://www.consumerfinance.gov/
rules-policy/innovation/cfpb-tech-sprints/
electronic-disclosures-tech-sprint/.
17
Bureau of Consumer Fin. Prot., The Bureau is
taking much-needed action to protect consumers,
particularly the most economically vulnerable (Jan.
28, 2021), https://www.consumerfinance.gov/about-
us/blog/the-bureau-is-taking-much-needed-action-
to-protect-consumers-particularly-the-most-
economically-vulnerable/.
18
Bureau of Consumer Fin. Prot., Technical
Specifications for Credit Card Agreement and Data
Submission Required under TILA and the CARD
Act (Regulation Z) (Aug. 20, 2021), https://
files.consumerfinance.gov/f/documents/cfpb_tech-
specs-credit-card-agreement-data-submissions_
final-rule_2021-08.pdf.
consumer credit card accounts indexed
on LIBOR. The proposed rulemaking
should help credit card providers
transition those affected accounts to a
replacement index in an orderly
manner. The Bureau expects to issue a
final rule in January 2022.
14
•Through the Prioritized
Assessments conducted in May of 2020,
the Bureau found that credit card
issuers generally provided some form of
relief to consumers experiencing
hardships as a result of COVID–19, such
as ‘‘skip-a-pay’’ or payment deferrals for
one to six months, with or without
interest accrual.
15
Other relief options
included lowered interest rates, waivers
of annual and other fees, and extended
deferred interest periods for credit card
accounts that had already received
deferred interest. However, the Bureau
also identified certain issues that may
raise the risk of consumer harm such as
system deficiencies related to
implementing relief programs and
automatic payment processes, as well as
delays in timely delivery of certain
disclosures and responding to billing
disputes.
•The Bureau continues to monitor
the expansion of credit access,
especially when new and innovative
technologies are used. Credit access
expansion can be positive but should be
done responsibly and in a way that is
understandable to consumers.
Consumers will be better served if the
use of such technologies are clearly
explained in case of adverse actions.
16
Forms of point-of-sale financing, such as
BNPL products, offer not only
convenience but a new way of financing
for many consumers. The Bureau
encourages all providers in this space to
take steps to make sure users of these
products are adequately informed of the
risks of such products.
•The Bureau encourages study into
the effects of certain lending practices
and their impact on credit scores,
particularly for those consumers with
non-prime credit scores. Practices such
as credit line decreases (CLD) and
account closure not only reduce
consumers’ access to credit but also
potentially inflate their credit utilization
rate. This could adversely affect
consumers’ credit scores without any
other changes in their behavior.
Additionally, over the past decade, a
declining share of credit card issuers
reported information on a borrower’s
actual payment amount to nationwide
consumer reporting agencies, which
may have implications for consumer
access to credit.
•As indicated in its January 28, 2021
announcement,
17
the Bureau intends to
take bold and swift action on racial
equity in financial services, including in
the areas of credit card marketing and
lending. Existing data available to the
Bureau do not allow the Bureau to fully
examine the disparity in use, cost, and
availability of credit cards by racial
groups. The Bureau intends to explore
options to incorporate racial data in its
data sources to inform its future work.
•As described in the new technical
specifications issued on August 20,
2021, the Bureau’s ‘‘Collect’’ website
will be the mandatory vehicle issuers
must use to submit credit card
agreements and their associated data in
2022 and beyond. Not only does Collect
provide a simplified submission process
and robust audit trail for issuers, it will
allow the Bureau and other
organizations to expand their current
research on credit card agreements.
18
David Uejio,
Acting Director, Bureau of Consumer
Financial Protection.
[FR Doc. 2021–21567 Filed 10–1–21; 8:45 am]
BILLING CODE 4810–AM–P
DEPARTMENT OF EDUCATION
[Docket No.: ED–2021–SCC–0089]
Agency Information Collection
Activities; Submission to the Office of
Management and Budget for Review
and Approval; Comment Request;
Evaluation of Promise Neighborhoods
AGENCY
: Institute of Education Sciences
(IES), Department of Education (ED).
ACTION
: Notice.
SUMMARY
: In accordance with the
Paperwork Reduction Act of 1995, ED is
proposing a new collection.
DATES
: Interested persons are invited to
submit comments on or before
November 3, 2021.
ADDRESSES
: Written comments and
recommendations for proposed
information collection requests should
be sent within 30 days of publication of
this notice to www.reginfo.gov/public/
do/PRAMain. Find this information
collection request by selecting
‘‘Department of Education’’ under
‘‘Currently Under Review,’’ then check
‘‘Only Show ICR for Public Comment’’
checkbox. Comments may also be sent
to ICDocketmgr@ed.gov.
FOR FURTHER INFORMATION CONTACT
: For
specific questions related to collection
activities, please contact Erica Johnson,
(202) 245–7676.
SUPPLEMENTARY INFORMATION
: The
Department of Education (ED), in
accordance with the Paperwork
Reduction Act of 1995 (PRA) (44 U.S.C.
3506(c)(2)(A)), provides the general
public and Federal agencies with an
opportunity to comment on proposed,
revised, and continuing collections of
information. This helps the Department
assess the impact of its information
collection requirements and minimize
the public’s reporting burden. It also
helps the public understand the
Department’s information collection
requirements and provide the requested
data in the desired format. ED is
soliciting comments on the proposed
information collection request (ICR) that
is described below. The Department of
Education is especially interested in
public comment addressing the
following issues: (1) Is this collection
necessary to the proper functions of the
Department; (2) will this information be
processed and used in a timely manner;
(3) is the estimate of burden accurate;
(4) how might the Department enhance
the quality, utility, and clarity of the
information to be collected; and (5) how
might the Department minimize the
burden of this collection on the
respondents, including through the use
of information technology. Please note
that written comments received in
response to this notice will be
considered public records.
Title of Collection: Evaluation of
Promise Neighborhoods.
OMB Control Number: 1850–NEW.
Type of Review: New collection.
Respondents/Affected Public:
Individuals or Households.
Total Estimated Number of Annual
Responses: 23.
Total Estimated Number of Annual
Burden Hours: 165.
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