Federal Reserve tries theater ads to burnish its image

[N.E.P.]

Federal Reserve tries theater ads to burnish its image

Spots urging shoppers to use their credit cards wisely will be shown on big screens in 12 U.S. cities. The central bank has long been accused of neglecting its consumer protection duties.
By Jim Puzzanghera

November 26, 2009

   
Reporting from Washington - The Federal Reserve isn't too popular these days, what with its failure to predict or prevent the financial crisis and recession, not to mention its involvement in last year's bailouts. Rep. Ron Paul (R-Texas) has a bestselling book out called "End the Fed," and some lawmakers are looking to cut back the central bank's power.

It sounds like a perfect time for an ad campaign.

The Fed has made a 45-second public service announcement to help consumers use their credit cards wisely. The spot will run before movie previews at theaters in 12 U.S. cities, including Long Beach, from Friday through Dec. 3.

Over jazzy music, the announcer asks: "Want to use your credit card wisely? Here are some tips you can trust from the Federal Reserve." With the Fed logo featured prominently, the ad offers suggestions such as paying your bill on time and watching for changes in the terms of the account.

The Fed has been under fire for neglecting its consumer protection authority for years -- particularly for taking 14 years to enact rules protecting consumers from unscrupulous mortgage lending.

In April and September, the Fed ran public-service ads in cinemas in California, Florida and other states devastated by the housing crash advising viewers how to avoid foreclosure scams.

The latest ad, which comes as people are expected to flock to holiday movies, could help improve the Fed's battered image as Congress weighs an overhaul of financial regulations. Plus, Fed Chairman Ben S. Bernanke will be on Capitol Hill on Dec. 3 for a hearing on his renomination for a second four-year term.

With sentiment against the Fed running high, that event promises to be a Washington blockbuster.

jim.puzzanghera@

latimes.com

[kushfiend]

Disgusting

[N.E.P.]

The Fed goes to the movies, and Olathe theater is part of the premier
http://economy.kansascity.com/?q=node/4952
Coming soon to a theater near you -- credit-card advice from the Federal Reserve.


Lights, camera, action

Not exactly five-star material, but the Fed will run 45-second advertisements in 12 movie theaters in major metropolitan areas starting Friday through Dec. 3.

The AMC Studio 30 complex in Olathe is among the theaters scheduled to run the spots, said Tim Todd, a spokesman for the Federal Reserve Bank of Kansas City.

Todd said Wednesday the Fed will likely add other area locations in December.

This is not the Fed's first foray into theater ads. Earlier this year, the Fed sponsored ads that provided tips and information for avoiding mortgage foreclosures.

The new spots will encourage consumers to “use their credit cards wisely” during the holiday shopping season.

“The ads provide tips for getting the most from credit cards, including paying on time, staying below the card’s credit limit, avoiding unnecessary fees, paying more than the minimum payment and watching for changes in account terms,” the Fed said in a statement.

The Fed is trying to step up its consumer protection role after the Obama administration and some lawmakers proposed legislation that would strip the central bank of that responsibility and give it to a newly created Consumer Financial Protection Agency.

Bet your bottom dollar on this: Fed critic and movie producer Michael Moore was not invited to direct these spots.

[N.E.P.]

Bet your bottom dollar on this: Fed critic and movie producer Michael Moore was not invited to direct these spots.

Seriously, WTF?? Mikael Moore is a bankers wet dream. That fat commy must be devastated after hearing about climategate.