The FTC recently held a workshop, “Putting Disclosures to the Test,” to explore the question of what should be done to make disclosures effective. The workshop included reports on numerous studies related to consumer understanding of disclosures, and the efficacy of different methods and timing of consumer disclosures.
Among the panelists at the workshop was Heidi Johnson, a CFPB research analyst. She discussed research being conducted by the CFPB, through its Decision Making and Behavioral Studies team, that is exploring the factors that influence the efficacy of disclosures in financial services, how to use different methodologies to study disclosure, and the market effects of disclosures.
For more information about the workshop, including key takeaways from studies that were presented, see our legal alert.