The Board of Governors of the Federal Reserve System is seeking public comments on a proposal to extend and revise the Census of Finance Companies and Other Lenders and Survey of Finance Companies for three additional years. These surveys, identified as FR 3033p and FR 3033s, aim to collect data on finance companies' assets, operations, and financial activities to better understand this sector of the financial system. Proposed changes include the removal of certain options and adjustments to survey questions. Comments must be submitted by February 21, 2025, and the feedback received will influence any final modifications to the proposal.
Simple Explanation
The Federal Reserve wants people to share their thoughts about a plan to ask finance companies questions about their money activities for three more years. They are changing some of the questions to make them better and need people's opinions before making it official.