In some cases, borrowers may not have fully understood the details of their loans, including the potential for large payment increases. Federal Reserve responses Effective responses need to build on an informed understanding of this complex picture.
Mark W Olson: Financial markets regulation in the United States Remarks by Mr Mark W Olson, Member of the Board of Governors of the US Federal Reserve System, at the Second Financial Summit: Challenges and emerging risks facing the financial industry, Madrid, 8 July 2002.