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Information disclosure (11 - 20 of 24 items)
Credit Cards: Increased Complexity in Rates and Fees Heightens Need for More Effective Disclosures to Consumers
GAO-06-929: Published: Sep 12, 2006. Publicly Released: Oct 11, 2006.
With credit card penalty rates and fees now common, the Federal Reserve has begun efforts to revise disclosures to better inform consumers of these costs. Questions have also been raised about the relationship among penalty charges, consumer bankruptcies, and issuer profits. GAO examined (1) how card fees and other practices have evolved and how cardholders have been affected, (2) how effectively...
Credit Cards: Customized Minimum Payment Disclosures Would Provide More Information to Consumers, but Impact Could Vary
GAO-06-434: Published: Apr 21, 2006. Publicly Released: Apr 24, 2006.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires that credit card issuers (issuers) include in all cardholder billing statements a generic warning, or "disclosure," about the potential financial consequences of consistently making only the minimum payment due on a credit card. However, some have urged that consumers should instead receive "customized" disclosures in the...
Credit Card Minimum Payment Disclosures Cardholder Interview Results, an E-supplement to GAO-06-434
GAO-06-611SP: Published: Apr 21, 2006. Publicly Released: Apr 21, 2006.
As part of a study GAO conducted to determine the feasibility and usefulness of providing customized minimum payment disclosures to credit cardholders, we interviewed a total of 112 cardholders in three U.S. cities on their views of various minimum payment disclosures. This document represents a facsimile of the interview guide that we administered to cardholders and includes the results to the cl...
Credit Reporting Literacy: Consumers Understood the Basics but Could Benefit from Targeted Educational Efforts
GAO-05-223: Published: Mar 16, 2005. Publicly Released: Mar 16, 2005.
This report responds to a mandate in the Fair and Accurate Credit Transactions Act (FACT Act) of 2003 requiring GAO to assess consumers' understanding of credit reporting. The FACT Act, among other things, extended provisions governing the credit reporting system and addressed ongoing concerns about inaccuracies in credit reports. For example, the act expanded access to credit information by entit...
Consumer Protection: Federal and State Agencies Face Challenges in Combating Predatory Lending
GAO-04-280: Published: Jan 30, 2004. Publicly Released: Feb 24, 2004.
While there is no universally accepted definition, the term "predatory lending" is used to characterize a range of practices, including deception, fraud, or manipulation, that a mortgage broker or lender may use to make a loan with terms that are disadvantageous to the borrower. No comprehensive data are available on the extent of these practices, but they appear most likely to occur among subprim...
Federal Trade Commission: Enforcement of the Franchise Rule
GAO-01-776: Published: Jul 31, 2001. Publicly Released: Jul 31, 2001.
Franchises are business arrangements that require payment for the opportunity to sell trademarked goods and services. Business opportunity ventures do not involve a trademark, but require payment for the opportunity to distribute goods or services with assistance in the form of locations or accounts. The Federal Trade Commission's (FTC) Trade Regulation Rule on Franchising and Business Opportunity...
On-Line Trading: Better Investor Protection Information Needed on Brokers' Web Sites
GGD-00-43: Published: May 9, 2000. Publicly Released: Jun 8, 2000.
Pursuant to a congressional request, GAO provided information on on-line trading, focusing on: (1) the growth in on-line trading; (2) the extent to which on-line broker-dealers had experienced trading system delays and outages, including the causes of these problems and their reported effect on investors; and (3) how on-line broker-dealers address investor protection issues related to margin, priv...
Assisted Living: Quality-of-Care and Consumer Protection Issues
T-HEHS-99-111: Published: Apr 26, 1999. Publicly Released: Apr 26, 1999.
Pursuant to a congressional request, GAO discussed quality-of-care and consumer protection issues in assisted living facilities in California, Florida, Ohio, and Oregon, focusing on: (1) residents' needs and the services provided in assisted living facilities; (2) the extent to which facilities provide consumers with sufficient information for them to choose a facility that is appropriate for thei...
Assisted Living: Quality-of-Care and Consumer Protection Issues in Four States
HEHS-99-27: Published: Apr 26, 1999. Publicly Released: Apr 26, 1999.
Pursuant to a congressional request, GAO provided information on whether consumers are able to make informed choices about their care and about the nature and extent of problems that may be occurring in assisted living, focusing on: (1) residents' needs and the services provided in assisted living facilities; (2) the extent to which facilities provide consumers with information sufficient to help...
HMO Complaints and Appeals: Most Key Procedures in Place, but Others Valued by Consumers Largely Absent
HEHS-98-119: Published: May 12, 1998. Publicly Released: May 15, 1998.
Pursuant to a congressional request, GAO examined: (1) what elements are considered important to a system for processing health maintenance organization (HMO) member complaints and appeals; (2) the extent to which HMOs' complaint and appeal system contain these elements; (3) what concerns consumers have regarding HMO complaint and appeal systems; (4) what information is available on the number and...