US Fed As Credit Card And Consumer Watch Dog!

Credit Card Tips from the Federal Reserve Board: To learn more about factors to consider when applying for or using a credit card, visit the website of the Federal Reserve Board at http://www.federalreserve.gov/creditcard. – DB Reader submission via a Marriot Rewards Card invitation

Dominant Social Theme: The Fed cares for you!

Free-Market Analysis: A close friend of ours just received a promo advertising a "Marriot Rewards Cards." She was surprised to find, upon reading the "terms and conditions," a note suggesting a visit to a US Federal Reserve website that would educate her about credit cards generally.

She found the involvement of the Federal Reserve puzzling. We did, too. It wasn't an involvement that we were conscious of – though the Fed "consumer help" website claims to have been in business since 2007. (Should we been? Perhaps so, but we can't keep track of everything!) Here's the "About" statement at the Fed site:

Federal Reserve Consumer Help, launched in 2007, is a centralized operation of the Federal Reserve System that assists consumers in filing complaints involving financial institutions. Our mission is to promptly and courteously guide consumers with complaints about financial institutions to the appropriate agency for help (see how we move a complaint through the process). We also respond to consumer questions about federal consumer protection laws and regulations. You can trust us to value the privacy and confidentiality of any information you give us. Our web privacy policy is posted.

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