Have you ever noticed the contrast between the slick, enticing copy of a credit card offer and the confusing, legalese-laden fine print of your monthly statement? It’s hard to believe they came from the same company.
If you’re frustrated by the gobbledygook, you aren’t alone. The federal government’s financial industry watchdog agency, the Consumer Financial Protection Bureau, is fed up, too. The CFPB has been urging financial services companies to provide the public with clear, accessible “consumer-friendly” information about their products and the terms of their agreements.