PRESS RELEASE
Federal Deposit Insurance Corporation
FOR IMMEDIATE RELEASE
February 5, 2007
Media Contact:
Jay Rosenstein (202) 898-7303
jrosenstein@fdic.gov
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. 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-11-2007
Simple Strategies for Managing Money: New How-to Guide from the FDIC
Issued for National Consumer Protection Week
"Be prepared." That motto isn't just for Scouts. It's solid advice for anyone trying to
manage their money in a world full of opportunities...and occasional hazards. That's why
the latest issue of FDIC Consumer News (Winter 2006/2007), the quarterly newsletter
published by the Federal Deposit Insurance Corporation, is a special edition entitled "Be
Prepared, Be Informed, Be in Charge." It features simple, practical suggestions for
dealing successfully with some of today's important money matters, including five things
consumers can do in areas such as:
• Making sure they are financially fit;
• Avoiding bad deals and scams, including fake checks;
• Protecting their deposits with FDIC insurance; and
• Complaining effectively and getting results.
Because the FDIC receives hundreds of letters, e-mails and calls from consumers every
day, the special edition also includes a look at the top five reasons people contact us.
This is intended to help readers learn from other consumers' questions and concerns
and take precautions that can save them time, money and headaches. About 60
percent of the consumer calls and letters to the FDIC ask about FDIC insurance
coverage, but other hot topics include questions or concerns about account terms and
conditions (such as fees or restrictions) and billing disputes (primarily involving credit
cards). The newsletter also includes a brief consumer quiz on some key concepts in
money management.
The agency issued this special edition of FDIC Consumer News today to coincide with
National Consumer Protection Week (NCPW), which this year is observed February 4-
Federal Deposit Insurance Corporation
FOR IMMEDIATE RELEASE
February 5, 2007
Media Contact:
Jay Rosenstein (202) 898-7303
jrosenstein@fdic.gov
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. 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-11-2007
Simple Strategies for Managing Money: New How-to Guide from the FDIC
Issued for National Consumer Protection Week
"Be prepared." That motto isn't just for Scouts. It's solid advice for anyone trying to
manage their money in a world full of opportunities...and occasional hazards. That's why
the latest issue of FDIC Consumer News (Winter 2006/2007), the quarterly newsletter
published by the Federal Deposit Insurance Corporation, is a special edition entitled "Be
Prepared, Be Informed, Be in Charge." It features simple, practical suggestions for
dealing successfully with some of today's important money matters, including five things
consumers can do in areas such as:
• Making sure they are financially fit;
• Avoiding bad deals and scams, including fake checks;
• Protecting their deposits with FDIC insurance; and
• Complaining effectively and getting results.
Because the FDIC receives hundreds of letters, e-mails and calls from consumers every
day, the special edition also includes a look at the top five reasons people contact us.
This is intended to help readers learn from other consumers' questions and concerns
and take precautions that can save them time, money and headaches. About 60
percent of the consumer calls and letters to the FDIC ask about FDIC insurance
coverage, but other hot topics include questions or concerns about account terms and
conditions (such as fees or restrictions) and billing disputes (primarily involving credit
cards). The newsletter also includes a brief consumer quiz on some key concepts in
money management.
The agency issued this special edition of FDIC Consumer News today to coincide with
National Consumer Protection Week (NCPW), which this year is observed February 4-
10. "The FDIC is proud that we reach out to consumers, not just during National
Consumer Protection Week but on a daily basis throughout the year," said FDIC
Chairman Sheila C. Bair. "The FDIC takes consumer education very seriously because
we know that when people learn how to make smart financial decisions and guard
against fraud, they are protecting themselves and their family as well as their local
community."
The theme of NCPW 2007 is "Read Up and Reach Out: Be an Informed Consumer,"
and it aims to encourage people to take advantage of the wealth of information available
from government agencies and national and local consumer organizations that can help
individuals make smart buying decisions and avoid frauds.
Among the FDIC's services for consumers are a toll-free call center (1-877-ASK-FDIC
or 1-877-275-3342) and an array of educational materials at www.fdic.gov, including
brochures and videos. In connection with National Consumer Protection Week, the
FDIC has added a special Web page with quick links to several of the agency's products
for consumers.
The goal of FDIC Consumer News is to deliver timely, reliable and innovative tips and
information on financial matters, free of charge. This special edition can be read or
printed online at www.fdic.gov/consumers/consumer/news/cnwin0607. There also is an
online form for ordering up to two free copies.
The FDIC is encouraging financial institutions, government agencies, consumer
organizations and the media to reprint the special edition in whole or in part and to link
to or mention the FDIC Web site. It is available on the FDIC Web site in a PDF format
that can easily be reproduced in any quantity. Space on the back page of the PDF
version was intentionally left blank so that an organization could add its name, logo, a
special message and/or self-mailing information.
Current and past issues of FDIC Consumer News, including special editions for senior
citizens, teens and young adults, are online at www.fdic.gov/consumernews. The FDIC
also offers a free subscription service that provides an e-mail about each new issue
posted to the Web site and a link to stories of interest. Instructions for subscribing are
posted at www.fdic.gov/about/subscriptions/index.html.
Consumer Protection Week but on a daily basis throughout the year," said FDIC
Chairman Sheila C. Bair. "The FDIC takes consumer education very seriously because
we know that when people learn how to make smart financial decisions and guard
against fraud, they are protecting themselves and their family as well as their local
community."
The theme of NCPW 2007 is "Read Up and Reach Out: Be an Informed Consumer,"
and it aims to encourage people to take advantage of the wealth of information available
from government agencies and national and local consumer organizations that can help
individuals make smart buying decisions and avoid frauds.
Among the FDIC's services for consumers are a toll-free call center (1-877-ASK-FDIC
or 1-877-275-3342) and an array of educational materials at www.fdic.gov, including
brochures and videos. In connection with National Consumer Protection Week, the
FDIC has added a special Web page with quick links to several of the agency's products
for consumers.
The goal of FDIC Consumer News is to deliver timely, reliable and innovative tips and
information on financial matters, free of charge. This special edition can be read or
printed online at www.fdic.gov/consumers/consumer/news/cnwin0607. There also is an
online form for ordering up to two free copies.
The FDIC is encouraging financial institutions, government agencies, consumer
organizations and the media to reprint the special edition in whole or in part and to link
to or mention the FDIC Web site. It is available on the FDIC Web site in a PDF format
that can easily be reproduced in any quantity. Space on the back page of the PDF
version was intentionally left blank so that an organization could add its name, logo, a
special message and/or self-mailing information.
Current and past issues of FDIC Consumer News, including special editions for senior
citizens, teens and young adults, are online at www.fdic.gov/consumernews. The FDIC
also offers a free subscription service that provides an e-mail about each new issue
posted to the Web site and a link to stories of interest. Instructions for subscribing are
posted at www.fdic.gov/about/subscriptions/index.html.