Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/129952
Authors: 
Elizondo, Alan
Seira, Enrique
Year of Publication: 
2014
Series/Report no.: 
Working Papers, Banco de México 2014-18
Abstract: 
Consumer protection in financial markets in the form of information disclosure is high on governments agendas, despite the fact that the empirical evidence on its effectiveness is scarce. To measure the impact of Truth-in-Lending-Act-type disclosures on default and indebtedness, as well as of debiasing warning messages and social comparison information, we implement a randomized control trial in the credit card market for a large population of indebted cardholders. We find that providing salient interest rate disclosures has no effect, while social comparisons and debiasing messages have only a odest effect. Other types of disclosures discussed in the paper could have larger effects.
Subjects: 
credit cards
information disclosure
truth in lending
Mexico
JEL: 
D12
D14
D83
G02
G21
G28
Document Type: 
Working Paper
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