Financial education is especially critical in the effort against these deceptive practices. Consumers empowered with the information to make educated financial choices are less susceptible to fraud and less likely to become entangled in financially devastating credit arrangements. Trends in the Financial Services Industry Some may believe these trends indicate that market forces have hurt consumers.
On the contrary, household and business borrowers have benefited from the technological developments that have enhanced financial services, and their remarkable growth. Computer and telecommunications technologies have lowered the cost and broadened the scope of such services. Consequently, specialized lenders and new financial products tailored to meet very specific market needs have proliferated.