Clarifying foggy financial agreements

Do you think mortgage disclosures convey meaningful loan information to homebuyers?

  • No (65%, 44 Votes)
  • Yes (35%, 24 Votes)

Total Voters: 68

If you answered “No,” comment below to tell us what’s missing or wrong.

Want to know the first step in creating better-informed consumers? Better disclosures!

Professors at Harvard, New York and Oxford Business Schools examined the results of the Consumer Financial Protection Bureau’s (CFPB) newly required disclosure on credit card statements. They found consumers who received  revised credit card statements comparing the effect of making minimum monthly payments to that of making larger monthly payments responded by making larger monthly payments more frequently than those who were not provided with the revised credit card statements. So far, so good.

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