This is one reason why financial education and literacy efforts are essential to enabling consumers to navigate our complex consumer financial marketplace. Problems can arise if competition does not ensure that relevant information on some terms or product features is provided in a timely and comprehensible way.
10 Moreover, product terms or features can sometimes emerge that offer little or no benefit to the vast majority of consumers. Double-cycle billing, for example, is a practice in the credit card industry that is so complex that few consumers can fully understand the implications of this practice, even in the presence of full disclosure.