8  Thomas A. Durkin (2006), "Credit Card Disclosures, Solicitations, and Privacy Notices: Survey Results of Consumer Knowledge and Behavior", Federal Reserve Bulletin, vol. 92, pp. A109-A121; Thomas A. Durkin and Gregory Elliehausen (forthcoming), Financial Economics of Information Disclosure: Applications to Truthin-Lending (New York: Oxford University Press). BIS Review 75/2008  3  consumers.
9 The prohibition of the provision of misleading or erroneous information can also help to improve competitive outcomes. To evaluate the effectiveness of disclosures, we must know what consumers understand, what information they use, and how they use the information in making decisions. In designing rules, we need to take consumers' actual behavior and understanding into consideration.