"Banks don't like to give up information. They make money when things are opaque," said Andrew Ang, professor of finance and economics at Columbia University. "They currently have an information advantage and that's very valuable to them. When you move to a system that is more transparent, they lose that advantage."
Can you trust your bank's interest rates?
Critics: No good alternative for current rate-setting process
Copyright 2012 by CNN NewSource. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.