The Federal Reserve Bank of Philadelphia is currently engaged in a longitudinal study to measure the effectiveness of homeownership counseling. Throughout the Federal Reserve System we continue to study and apply the lessons learned in the field of behavioral economics to improve our financial education and consumer information.
The goal of each of the Federal Reserve's actions with respect to consumer protection has been to restore consumer confidence by making credit more transparent and, where necessary, prohibiting practices that are so complex as to be unfair and deceptive. These actions are not only good for consumers, but will benefit the financial industry.