The Commission held a conference on 28 May which focused on financial literacy. It noted consumers are not getting the best financial services deals because information is not comparable or easy to understand, and good financial advice is hard to find. It claims 24 out of 25 German banks surveyed gave poor financial advice, and that nearly 80% of young people surveyed in five countries do not know what the Annual Percentage Rate is. It also says consumers want standardised European information.