The consumer's ability to compare lending rates will increase competition and lower mortgage costs and rates for everyone. Getting a mortgage loan will be much faster and easier. The passage of this law implies that consumers and businesses will no longer have to wait the few days to complete a legal transaction, delaying consummation until a paper signature can be transported. E-signatures will result in contract completion and immediate gratification. Immediate Gratification One of the drawbacks of immediate gratification is the difficulty of considering the consequences of one's actions.
Credit cards illustrate the two faces of fast, financial fixes.
The justification is to enjoy the moment with an honest intent to pay for it later. Unfortunately, later gets expensive. Clearly, these folks would reconsider some purchases if they had the cash in hand and had to count it over to the clerk. There is absolutely no argument about the convenience, but public education is needed to explain all the consequences. The concept of immediate gratification applies to credit cards as well as contracts.