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Consumer Banking
| Consumer Guide to Check 21 and Substitute Checks |
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Because of Check 21 and other check-system improvements, your checks may be processed faster--which means money may be deducted from your checking account faster. Before you write a check, make sure that your checking account has enough money in it to cover the check.
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| Electronic Payments |
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Electronic payments are made without the use of paper by way of a variety of electronic devices.
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| Less Travel for Your Checks |
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The Check Clearing for the 21st Century Act – "Check 21" for short – dramatically changes the way banks process checks and is certain to have an impact on consumers – especially those who've been known to "play the float."
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| Our Money |
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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.
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| When Is Your Check Not a Check? Electronic Check Conversion |
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Electronic check conversion is a process in which your check is used as a source of information--for the check number, your account number, and the number that identifies your financial institution. The information is then used to make a one-time electronic payment from your account--an electronic fund transfer. The check itself is not the method of payment.
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| Publications |
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Consumer Banking publications available from the Federal Reserve.
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Consumer Protection
| Federal Reserve Consumer Help |
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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.
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| How to File a Complaint Against a Bank |
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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.
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| Identity Theft |
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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.
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| Privacy Choices for Your Personal Financial Information |
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Financial companies share information for many reasons: to offer you more services, to introduce new products, and to profit from the information they have about you. If you like to know about other products and services, you may want your financial company to share your personal financial information; in this case, you don’t need to respond to the privacy notice. If you prefer to limit the promotions you receive or do not want marketers and others to have your personal financial information, you must take some important steps.
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| Publications |
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Consumer Protection publications available from the Federal Reserve.
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Economics
| Economic Indicators: By the Numbers |
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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.
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| Economic Literacy |
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"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.
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| Everyday Economics |
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A series of colorful booklets explaining fundamental economic concepts for high school students. Free to teachers and students in the Eleventh Federal Reserve District.
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| What's A Dollar Worth? |
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Use the CPI calculator to find out how much the item you purchased years ago would cost in today's dollars.
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| What is the Economic Function of a Bank? |
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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.
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| Understanding the Federal Budget |
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Booklet provides an overview of basic economic concepts and governmental processes related to the budget and debt of the federal government
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| Publications |
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Economics publications available from the Federal Reserve.
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Home Ownership & Mortgages
| Alternative Mortgages: Managed Risk or Gamble |
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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.
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| Mortgage Comparison Calculator |
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This mortgage calculator is designed to help you compare the monthly payments and the amount of equity you will build in your home for several kinds of fixed and adjustable-rate mortgages.
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| Private Mortgage Insurance |
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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
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| Consumer's Guide to Mortgage Lock-Ins |
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Lock-ins on rates and points might offer you a way to ensure that what you shop for is what you get. This brochure explains what these arrangements mean.
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| Publications |
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Home ownership & mortgage publications available from the Federal Reserve.
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Interest Rates
| FOMC Simulation |
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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.
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| Publications |
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Interest rates publications available from the Federal Reserve.
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Loans & Credit
| Your Credit Report |
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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.
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| Your Credit Rights |
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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.
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| Publications |
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Federal Reserve publications relating to loans and credit.
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General Information
| Fed-In-Brief Crossword Puzzle |
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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.
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| FedWorks: Teacher's Guide (PDF) |
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FedWorks is intended to promote economic literacy and greater understanding of the Federal Reserve. This file requires an Adobe Acrobat Reader.
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| It's Your Paycheck! |
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It's Your Paycheck! is designed for use in high school personal finance classes. The curriculum contains three sections-"Know Your Dough," "KaChing!" and "All About Credit." The lessons in each of these sections employ various teaching strategies to engage students so that they have opportunities to apply the concepts being taught.
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| Personal Financial Education Curricula |
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Resources for Individuals & Consumers
Consumers are a key constituent of the Federal Reserve System and key users of the payments system. The links on this page will aid in researching issues important to you.
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Non-Fed Web Sites
| America Saves |
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Provides adult education to encourage savings and advise to assist Americans build wealth and plan for unexpected expenses.
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| Department of Education |
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Education program that provides resources and information focused on reading comprehension, math skills and other academic subjects.
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| Department of the Treasury |
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Developed the MoneyMath program to educate middle school children about savings, investing, spending and credit
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| Department of the Treasury - Office of Financial Education |
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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.
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| eXtension Financial Security for All |
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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.
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| Fannie Mae |
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Adult education program that provides a comprehensive homebuyer training curriculum as well as savings and credit information.
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| Foreclosure Resources for Consumers |
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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.
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| Jump$tart |
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Comprehensive education program teaching children Pre-K-12 life skills and money management techniques.
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| Junior Achievement |
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Program to educate children K-12 about basic life skills, critical thinking and solving complex problems.
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| MyMoney.gov |
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Personal financial education resources provided by federal agencies and the federal Financial Literacy Education Commission.
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| National Council on Economic Education |
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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
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| National Endowment for Financial Education |
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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.
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| National Foundation for Credit Counseling |
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Promotes the national agenda for financially responsible behavior and builds capacity for its members to deliver the highest quality financial education and counseling services.
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| Neighborhood Reinvestment Corp. |
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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.
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| Operation Hope |
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Help revitalize inner-city communities through adult education, community resource information and economic literacy for teens and young adults.
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| Understanding Taxes |
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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.
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