Yes. For public interest, obviously transparency is huge, especially for people who are vulnerable or may not have a lot of experience with credit products. Again, I'm thinking specifically of young people like myself, gen Zs, who are just coming into the credit market, learning about credit scores and learning about how all of these different things work.
Honestly, it could be as simple as this: If you are offered a credit increase by your credit card, there should be something explaining to you whether using a certain percentage of your credit limit is good or bad for your credit score and things like that, which are very tangible and in plain language. I know plain language was mentioned before. It can be just a broken down, very simple, “This is exactly what you're paying for in terms of credit card rewards programs.” Those can be really confusing, because I could pay a higher fee, or I could potentially get better rewards, but I don't know for sure if I'm going to get those rewards, or how I'm going to use them, or if the cost to redeem some of the rewards is going to go up and the points are going to be tripled by the time I come to redeem them.
So, yes, absolutely, transparency is very important for public interest and consumers. It can be very simple, and it can be simplified and easily implemented by banks if they wanted to, or if they were compelled to.