I remember a little while back reading something about how Financial Literacy was introduced as a way for the banks to avoid regulation, pushing the responsibility to individuals rather than face government pressure to change.
While there's some truth to this, there's also a ton of things companies are required to display prominently when lending money. Most people know about the interest rate, but there's a lot of other numbers just as important to understand.
I remember a little while back reading something about how Financial Literacy was introduced as a way for the banks to avoid regulation, pushing the responsibility to individuals rather than face government pressure to change.
I'll have to look for the article...
EDIT: https://scholarship.law.upenn.edu/cgi/viewcontent.cgi?referer=&httpsredir=1&article=1198&context=faculty_scholarship
While there's some truth to this, there's also a ton of things companies are required to display prominently when lending money. Most people know about the interest rate, but there's a lot of other numbers just as important to understand.
For sure.