Consumers change credit card habits over disclosures

As many consumers continue to grapple with credit card debt, the Consumer Financial Protection Bureau is trying to add more ways for Americans to better understand the situation they face when seeking debt relief.

One of those protections seems to be having a positive effect on some of the nation's most troubled borrowers, according to a new study from the Harvard Business School. The disclosure boxes that are required on every credit card bill these days, which spell out how much consumers can save over a period of a few years by increasing the value of their payments above the minimum, seem to entice borrowers to pay more than they have to.

Those who tend to increase the value of their payments are also those who have the largest balances, lowest credit scores and have a history of paying off their debt more slowly, the report said.

The CFPB has had full regulatory power since July 2011 and has worked to improve protections for all types of consumer financial products, including credit cards, mortgages and other lines of credit.