Consumer Information
The FDIC publishes "FDIC Consumer News" and this summer's issue includes information related to the FACT Act. One article explains how credit reports and credit scores can affect the customer's buying power. It is a single-page clear explanation which could be useful to hand out with credit score notices.
The same issue also contains some sound advice on how to shop for bank products and how to use disclosures. There is practical advice on using Internet banking services and an explanation of different types of mortgages, including interest-only and low-doc mortgages.
Copyright © 2005 Compliance Action. Originally appeared in Compliance Action, Vol. 10, No. 10, 9/05
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