The CFPB has republished in yesterday's Federal Register a proposed new information collection titled “Development of Metrics to Measure Financial Well-being of Working-age and Older American Consumers.” The proposed collection is intended to support the CFPB’s financial literacy initiatives.
Initially published in the Federal Register on August 8, 2013, the proposal contemplates the CFPB’s collection of quantitative data through surveys of working-age (age 18–61) and older American (age 62 and older) consumers. The data will be used to develop and refine surveys that the CFPB can use to measure adult consumers’ financial well-being and develop measures of financial well-being that provide a standardized basis for setting goals and evaluating financial education strategies and programs. The CFPB anticipates that the surveys will be primarily Internet-based. Comments on the proposal are due by January 27, 2014.