This year's conference explores a confluence of consumer-related finance issues in the context of the current difficulties in the mortgage markets. In my remarks today, I would like to discuss the key role of consumer credit in our economy and describe how information disclosure and protecting consumers can work to facilitate and promote the efficient functioning of markets for such credit.
1 Good information is essential to achieving well-functioning markets. Consumers, equipped with the right information at the right time, can make the choices most appropriate to their individual circumstances and desires. For consumers to make the most meaningful use of the relevant information, such information should be accessible and understandable.