Redress to consumers following the mis-selling of financial products is an important regulatory tool to secure an appropriate degree of protection for consumers, one of the three operational objectives of the Financial Conduct Authority (FCA). In 2011/12, excluding compensation for payment...

To inform possible future policy in the UK savings market, we test new consumer disclosure. Easy access savings accounts are the most popular and simplest way to save in the UK, with the main product feature being the interest rate. While significant rate differences exist on similar accounts...

We run a field experiment and a survey experiment to study an active choice nudge. Our nudge is designed to reduce the anchoring of credit card payments to the minimum payment. In our field experiment, the nudge reduces enrollment in Autopaying the minimum from 36.9% to 9.6%. However, the nudge...