U.S. Fed to counsel consumers at the movies
The United States central bank has faced criticism for not protecting consumers from risky lending practices so now they are sponsoring advertisements before movie previews at 12 theaters in major cities around the country. The ads will run Nov. 27 – Dec. 3.
The advertisements will inform consumers on how to use credit cards safely and wisely. They will feature basic advice such as paying on time, staying below the credit limit, avoid fees by paying on time and to make more than minimum payments.
The ads are set to run during the time when retailers look to make up to 40% of annual profits with bargains, commercials and extended hours. The Fed also sponsored ads earlier in the year advising consumers on mortgage foreclosure rescue scams.
