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Credit Card Disclosures, Solicitations, and Privacy Notices: Survey
Ist Teil von
FEDERAL RESERVE BULLETIN, 2006, p.A109-A121
Erscheinungsjahr
2006
Link zum Volltext
Quelle
EBSCOhost Business Source Ultimate
Beschreibungen/Notizen
"The mandatory dissemination of certain information by financial institutions is a key aspect of consumer protection law. It offers two significant advantages for consumer protection in the financial area over the alternative of direct government intervention into product pricing and content. First, information disclosure is compatible with competition, a significant market force already at work to protect consumers by keeping price rises in check. Because of competition, institutions already have incentives to make their products known, to reveal favorable pricing and product features, and to treat consumers fairly by keeping them generally informed about what they want and need to know. When a financial institution employs these strategies, it generates a good business reputation that will produce referrals and repeat customers. Actions that firms use to accomplish these goals include advertising their prices and supplying clients and potential customers with useful information about product prices and features." (Federal Reserve Bulletin) How consumers relate to credit card disclosures, solicitations, and privacy notices are explained.