With July being the most popular travel month, bigger credit card bills start coming due. Major financial institutions are using financial nudges, such as texts or emails, that encourage consumers to make their payments in a timely fashion. But has anyone stopped to ask, “Do consumers like financial nudges?” A recent research article surveyed over two thousand Australian bank customers to determine the level of sentiment. “People generally approve of financial interventions,” concluded the authors Merle van den Akker, behavioral scientist at Commonwealth Bank of Australia and Cass Sunstein, professor at Harvard Law School. Professor Sunstein, along with Richard Thaler, […]