Do Financial Regulations Actually Decrease Financial Literacy?

Ask the average person about her smartphone, and the odds are better than even that she'll be able to recite the make, model, and salient features such as battery life and camera quality. She may even be in a position to rank the phone relative to other handsets and to make a recommendation as to whether it offers good value for money.Make a similar inquiry about that person's savings account, on the other hand, and you're likely to be met with a blank stare.