| Consumer Banking |     | Consumer Protection |     | Economics |     | Home Ownership & Mortgages |     | Interest Rates |     | Loans & Credit |     | General Information |     | Non-Fed Web Sites |       "In today’s complex financial markets, financial education is central to helping consumers make better decisions for themselves and their families."                   - Ben S. Bernanke   By Region Glossary Media Kit There's a Lot to Learn About Money (PDF - 188kb) FederalReserveEducation.Org Feedback Disclaimer Graphic Version   Consumer Banking Bank Products: What's Insured and What's Not Mutual funds and annuities have their advantages, but it's important to understand how they work and what risks are involved. E-Banking: Banking on the Internet On-line discussion about on-line banking and questions consumers should address before signing up for that service. ETAsm --A Direct Deposit Account-- Is Direct to You (PDF) Information on ETA --Electronic Transfer Account-- which uses direct deposit to transfer Federal benefits or payroll payments straight into your bank account. This file requires Adobe Acrobat Reader. ETAsm --Una Cuenta de Depósitos Directos-- Va Directamente a Usted (PDF) Encuentre infomación acerca de ETA, una cuenta que utiliza depósitos directos para transferir electrónicamente los beneficios o pagos de nómina del gobierno directamente a su cuenta de banco. Adobe Acrobat Reader. In Plain English Making sense of the Federal Reserve. The Life of a Check (Flash) Ever wonder about the path your check takes after you write it? This link requires Flash 8.0 or higher. The Life of a Dollar Bill (Flash) The path of a dollar bill as it moves from printer to shredder. This link requires Flash 6.0 or higher. Our Money Examines currency issued by the U.S. government, including information about the history of currency, how money is printed, new currency designs and counterfeit protection. Tips for Safe Banking on the Internet (PDF) Brochure provides basic information and tips on using on-line banking services effectively. Publications Consumer Banking publications available from the Federal Reserve. Consumer Protection Federal Reserve Consumer Help The Federal Reserve's new centralized consumer intake function has been designed to provide national support and resources to consumers with inquiries or complaints about a bank or other financial institution. Frauds & Scams: Protect Yourself and Your Money Describes some typical financial frauds and scams and suggests how to protect yourself and your money. How to File a Complaint Against a Bank Link to the Board of Governors Web site that provides information on how and where to file a complaint against a bank, and how the Federal Reserve handles such complaints. Identity Theft Identity theft is a federal crime. It occurs when one person's identification (which can include name, social security number, or any account number) is used or transferred by another person for unlawful activities. This booklet is designed to help you understand what identity theft is, how it happens, how to protect yourself, and what steps to take if your identity is stolen. Plastic Fraud: Getting a Handle on Debit and Credit Cards This pamphlet describes credit and debit cards and some common schemes involving card fraud with tips to help you avoid them. Publications Consumer Protection publications available from the Federal Reserve. Economics All About the Foreign Exchange Market in the United States Book discusses in detail the operations, participants and instruments in the U.S. segment of the global foreign exchange market. The Basics of Foreign Trade and Exchange Summary of the magnitude of international trade and foreign exchange transactions and how such transactions affect households, businesses and markets. Economic Indicators: By the Numbers In formulating the nation's monetary policy, the Federal Reserve considers a number of factors, including the economic and financial indicators as well as the anecdotal reports compiled in the Beige Book. Economic Literacy "The Economic Literacy Project: Seeking a Blueprint for America," featured more than 60 specially invited representatives of academia, business, labor, K-12 education, consumers, government, and finance institutions. Economic Indicators: What Are They and Why They Are Important? (Flash) This economic indicators section of the FED101 Web site provides a snapshot of the economy's health. This link requires Flash 6.0 or higher. Everyday Economics A series of colorful booklets explaining fundamental economic concepts for high school students. Free to teachers and students in the Eleventh Federal Reserve District. Is Diversifying Across World Markets a Good Investment Strategy? Discussion surrounds the role of business cycles and the risk & return of international stock markets in building a diversified portfolio for investing. Teaching About the Global Economy Using the Internet On-line teaching guide with internet-based classroom activities to enrich students' understanding of global economy and interdependence of nations. What's A Dollar Worth? Use the CPI calculator to find out how much the item you purchased years ago would cost in today's dollars. What is the Economic Function of a Bank? Discusses the role of banks as key components of the financial system and how bank assets and liabilities help channel funds from savers to borrowers in a more efficient manner. What Steps Can Be Taken to Increase Savings in the United States Economy? Why Americans are in the aggregate, or overall, saving far less (or consuming much more) as a percentage of disposable personal income than they did during most of the past 40 years. Understanding the Federal Budget Booklet provides an overview of basic economic concepts and governmental processes related to the budget and debt of the federal government Why Do We Need Economists and the Study of Economics? This discussion explains why we need economists and the study of financial and regional economic issues to make sense of our complex environment. Publications Economics publications available from the Federal Reserve. Home Ownership & Mortgages Alternative Mortgages: Managed Risk or Gamble Reviews the risks of alternative mortgage products to consumers and lenders, such as interest-only loans, payment-option-adjustable-rate mortgages and reduced-documentation mortgages. Consumer Handbook to Adjustable Rate Mortgages Handbook is designed to help consumers understand an important and complex mortgage option available to homebuyers. Guía para el consumidor sobre hipotecas a tasa ajustable (ARM) Consumer Handbook to Adjustable Rate Mortgages - Spanish. Consumer's Guide to Mortgage Settlement Costs Describes what is involved in mortgage settlement, including possible charges and cost tips. Homeowners Beware of Questionable Solicitations Don't be a victim of the latest consumer scam. Beware if you get an advertisement for a Community Reinvestment Act program loan endorsed by the Federal Reserve. Interest-Only Mortgage Payments and Payment-Option ARMs--Are They for You? Find out whether an interest-only mortgage payment or an adjustable-rate mortgage with the option to make a minimum payment is right for you. Know Before You Go to Get a Mortgage A guide to mortgage products and a glossary of lending terms. Guía de productos hipotecarios y glosario de terminología sobre préstamos Know Before You Go to Get a Mortgage - Spanish. Looking for the Best Mortgage Comparing costs and rates and negotiating for the best terms can save you thousands of dollars. Buscando la hipoteca mas favorable Looking for the Best Mortgage - Spanish. Private Mortgage Insurance If you are a homeowner, you will want to be aware of a new law that establishes rights for homeowners and rules for lenders regarding private mortgage insurance (PMI) cancellation Putting Your Home on the Loan Line Is Risky Business What to know if you are a homeowner and thinking about getting a home equity loan. Utilizar su hogar como garantía para un préstamo es arriesgado Putting Your Home on the Loan Line Is Risky Business - Spanish. What You Should Know about Home Equity Lines of Credit Learn how to shop for home equity plans, and advantages and disadvantages of home equity lines of credit. Lo que usted debería saber sobre las líneas de crédito con garantía hipotecaria What You Should Know about Home Equity Lines of Credit - Spanish. Publications Home ownership & mortgage publications available from the Federal Reserve. Interest Rates FOMC Simulation Students can simulate a Federal Open Market Committee (FOMC) meeting. The FOMC meets eight times a year to discuss current and near-term economic and financial conditions before deciding to raise, lower, or keep short-term interest rates the same. How Does the Creation of Money Affect Interest Rates? (Flash) The Fed changes the money supply by increasing or decreasing reserves in the banking system through the buying and selling of securities. The changes in the money supply, in turn, affect the rates.This link requires Flash 6.0 or higher. Interest Rates: An Introduction Description of interest rate determination and how interest rates affect individuals, businesses and the economy. Understanding Open Market Operations Explanation of challenges faced by monetary policy makers and the procedures used to formulate and implement U.S. monetary policy. U.S. Monetary Policy and Financial Markets Detailed discussion of the theory and practice of monetary policy formulation and implementation. What is the Relationship Between the Discount Rate and Mortgage Rates? A change in the short-term discount rate may not affect interest rates on long-term mortgages. Publications Interest rates publications available from the Federal Reserve. Loans & Credit Credit & Charge Cards: What Consumers Should Know about the Cost & Terms of Credit Knowing how credit card charges, finance charges, and terms of credit can change your financial status. The Credit Process: A Guide for Small Business Owners Summary of the sources and types of commercial loans, business plan design, and the loan-review process for small business financing. How to Establish, Use, and Protect Your Credit Credit is an important financial tool, but it can also be dangerous, leading people into debt far beyond their ability to repay. Your Credit Report It used to be that a retailer or bank would have to call each creditor you listed on an application form before they would decide to extend credit to you. Today, they rely on credit reports, so it's important for you to know what is in yours. Your Credit Rights You need to understand how credit is awarded or denied and what you can do if you are treated unfairly. The major laws that regulate credit are outlined in this brochure. Publications Federal Reserve publications relating to loans and credit. General Information Building Wealth A beginner's guide to securing your financial future. Cómo Crear Riqueza (Building Wealth) Una guía para alcanzar sus metas financieras. Consumer Information An index of consumer information. Consumer Resources An index of consumer resources. Fed-In-Brief Crossword Puzzle Challenge your knowledge about the Federal Reserve System and its functions by playing this interactive crossword puzzle. This link best viewed with Netscape 4.7 or higher. FedWorks: Teacher's Guide (PDF) FedWorks is intended to promote economic literacy and greater understanding of the Federal Reserve. This file requires an Adobe Acrobat Reader. Financial Literacy: An Overview of Practice, Research, and Policy A broad variety of consumer and policy specialists are focused on the importance of financial education and are providing training and educational resources. Non-Fed Web Sites America Saves Provides adult education to encourage savings and advise to assist Americans build wealth and plan for unexpected expenses. American Financial Services Association Teaches consumers the benefits of responsible money management and middle and high school students basic money management skills. American Savings Education Council This program has been developed to raise public awareness about what is needed to ensure long-term personal financial independence Consumer Credit Counseling Service (CCCS) Adult education focused on debt management, budgeting, purchasing a home and foreclosure prevention. Department of Education Education program that provides resources and information focused on reading comprehension, math skills and other academic subjects. Department of Housing and Urban Development: Buying and Financing a Home The home buying process can seem complicated, but taking things step-by-step will assist you in holding the keys to your own home! Department of Housing and Urban Development: Escrow Account Information Answers frequently asked questions on escrow accounts. Department of Housing and Urban Development: Reverse Mortgages for Seniors What to know if you're interested in a reverse mortgage. Department of the Treasury Developed the MoneyMath program to educate middle school children about savings, investing, spending and credit Department of the Treasury - Office of Financial Education The Office of Financial Education focuses the Department of the Treasury's financial education policymaking, raises awareness about the need for financial education, and provides information about financial education resources throughout the federal government. Emergency Financial First Aid Kit (EFFAK) The EFFAK is a simple tool that helps identify and organize key financial records and provides a quick reference file for your most important financial documents. eXtension Financial Security for All The Financial Security for All eXtension website is a source of reliable, unbiased and up-to- date financial and consumer information. Resources consist of learning modules, factsheets, and commonly asked questions that have science-based, peer reviewed answers. Fannie Mae Adult education program that provides a comprehensive homebuyer training curriculum as well as savings and credit information. Federal Deposit Insurance Corporation (FDIC) Comprehensive financial education program suitable for adults and high schools students. Includes 10 separate modules ranging from money skills to credit issues. Federal Trade Commission: Consumer's Guide to Mortgage Lock-Ins Explains lock-in mortgages and their advantages to consumers. Foreclosure Resources for Consumers If you are having difficulty making your mortgage payment, one of the most important things you can do is seek assistance. The following resources provide information and links to agencies and organizations that may be able to help you. Freddie Mac Offers two programs, one is designed to provide adults with comprehensive homebuyer education, the other is focused on savings and credit matters. Jump$tart Comprehensive education program teaching children Pre-K-12 life skills and money management techniques. Junior Achievement Program to educate children K-12 about basic life skills, critical thinking and solving complex problems. MyMoney.gov Personal financial education resources provided by federal agencies and the federal Financial Literacy Education Commission. National Council on Economic Education Program works through a network of teachers to provide youngsters grades K-12 the principles of economics including savings, investing, uses of money and credit National Endowment for Financial Education Offers a high school financial planning program that provides practical money-management skills and an introduction to financial planning, covering the fundamentals of insurance, investments, tax, retirement and estate planning. National Community Reinvestment Coalition (NCRC) Works directly with non-profit organizations to help promote community and economic redevelopment in low- to moderate-income areas. Neighborhood Reinvestment Corp. Works directly with non-profit organizations to provide consumer financial education through collaboration with National programs. Site provides general information and resources to other programs. Operation Hope Help revitalize inner-city communities through adult education, community resource information and economic literacy for teens and young adults. Sallie Mae Provides information about higher education including planning for college, financial resources available, managing loans and finding a job. Understanding Taxes The IRS has developed an interactive, instructional tax program to provide high schools, community colleges, and the general public with a technology-based instructional tool.