Financial
services decisions can have enormous consequences for household well-being.
Households need a range of financial services-to conduct basic transactions, such
as receiving their income, storing it, and paying bills; to save for emergency
needs and long-term goals; to access credit; and to insure against life's key
risks. But the financial services system is exceedingly complicated and often
not well-designed to optimize household behavior. In response to the complexity
of our financial system, there has been a long-running debate about the
appropriate role and form of regulation. Regulation… more
