The United States of America’s Consumer Financial Protection Bureau (CFPB) has published a new report, Price Complexity in Laboratory Markets, which indicates that complex pricings, or costs separated into various sub-prices, are typically more expensive and harder to compare – leading to consumers paying more.
Based on the CFPB’s previous research, this increased complexity and price is particularly present when it comes to financial products and services, including loans, mortgages, credit cards and checking and saving accounts.
For more information, please read the original CFPB article here (https://www.consumerfinance.gov/about-us/newsroom/cfpb-publishes-research-finding-higher-price-complexity-leads-consumers-to-pay-more/) or CFPB’s report Price Complexity in Laboratory Markets (https://www.consumerfinance.gov/data-research/research-reports/price-complexity-in-laboratory-markets/).