Federal Reserve Bulletin: Designing Disclosures to Inform Consumer Financial Decisionmaking: Lessons Learned from Consumer Testing

By Jeanne M. Hogarth and Ellen A. Merry

The Federal Reserve Board has studied ways to improve the disclosures that consumers draw on when they purchase and use financial products and services. This article examines lessons learned from the Board's consumer testing projects, suggests potential best practices for disclosure content and presentation, and identifies challenges involved in crafting effective disclosures for financial products.

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