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FDIC Announces a Quick Guide for Consumers on Credit, Debit and Prepaid Cards
Other Services Also Highlighted for National Consumer Protection Week
In observance of National Consumer Protection Week 2012 (NCPW), the FDIC has issued a guide to help consumers understand the differences between debit, credit and prepaid cards. The guide is intended to help consumers, who routinely use cards to pay for goods and services but who don't always understand the differences in how these cards work or the applicable consumer protections. The quick guide and an accompanying list of 10 things to know about credit, debit and prepaid cards can be found at www.fdic.gov/ncpw.
"The FDIC is committed to consumer education so that households can make informed financial decisions," said Acting Chairman Martin J. Gruenberg. "FDIC.gov is a great place to learn about matters of interest to consumers, and we are pleased now to offer this guide that consumers can refer to when choosing or using a payment card."
Also in connection with NCPW 2012, which is March 4-10, the special Web page above features other FDIC resources for consumers on a variety of topics:
For more information about the FDIC's educational programs and service for consumers, including a toll-free Call Center, free videos and brochures, current and past issues of FDIC Consumer News, and the Money Smart financial education curriculum (one version for adults and one for young adults), visit www.fdic.gov or call 1-877-ASK-FDIC (1-877-275-3342).
"The FDIC is proud to be one of the organizing partners of National Consumer Protection Week and to support its focus on the importance of providing consumers with tips and information to manage money and debt, avoid frauds and scams, and protect their privacy," Acting Chairman Gruenberg added.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,359 banks and savings associations, and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-27-2012
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