For instance, many programs developed by financial institutions either put forth the agenda of those institutions or neglect to cover important topics that might conflict with the institutions' goals.
A perfect example is the way virtually all financial literacy programs associated with financial institutions present credit cards. The programs normally don't say the most important thing about credit cards: you should always try to pay off your card balance in full every month. A credit card company can't say that message strongly and clearly. The card companies would go broke if all their customers actually paid off their balances.
That's why credit card companies—including those from banks and credit unions—push all consumers to charge more than we can afford to pay off every month. The companies want us to finance our purchases.
Our messages are developed to protect you, not push any product or service.
FoolProof is endorsed by the Consumer Federation of America, the National Association of Consumer Advocates, and the CARE Program.