BIS paper: banks may harm customers through ‘steering’

Image of jenga game

Banks may be able to benefit from “steering” their customers towards certain products, but this can harm people’s welfare, a working paper published by the Bank for International Settlements finds.

The cost of steering in financial markets: evidence from the mortgage market analyses steering by Italian banks. Steering can take many forms – it might be as simple as explaining a complex financial product, but it could also involve shrouding some aspects of a product to distort a customer’s choice

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: