Thank you for the question.
Based on our studies, we provide information that is relevant to consumers on the choice of a credit card and what that means vis-à-vis rewards, fees and interest. We try to provide all of this information on our website for them to use. We also provide a comparison tool, which currently has 220 different credit cards that consumers can choose from.
To your point about behavioural finance, we've also run some behavioural finance experiments that are targeted at helping consumers pay down credit card debt. These provided additional information to consumers about credit cards and about the impact of not paying down their debt, and provided the types of information you were alluding to within the context of the intervention, which did indeed lead to a greater number of people paying down their debt and a fewer number of people increasing their debt during the 10-month period the intervention ran.
From a behavioural science perspective, would providing specific forms of information help consumers? Indeed it would help consumers. In terms of the legislation or regulation of that, again, we're not the policy lead. The Department of Finance would be able to comment on that.