Information asymmetry  Information asymmetry between banks and borrowers is an accepted fact. This problem becomes more acute in a multiple banking scenario. The way out is a robust system of pooling and exchanging of credit information through the mechanism of Credit Information Companies (CICs).
Alan Greenspan: Consumer finance Remarks by Mr Alan Greenspan, Chairman of the Board of Governors of the US Federal Reserve System, at the Federal Reserve System’s Fourth Annual Community Affairs Research Conference, Washington, DC, 8 April 2005. *  *  *  It is a pleasure to be here today as you conclude your discussions about our dynamic consumer finance market.