Federal Reserve opens dummy Internet bank site

The US Federal Reserve Board has opened a new Internet resource designed to help bankers and bank examiners apply consumer regulations to Internet banking.

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Federal Reserve opens dummy Internet bank site

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The Checkers Bank (TCB) is a mock online bank whose Web site contains violations of federal consumer protection regulations relating to loans and credit cards, consumer deposits, investments and commercial services. The TCB site highlights these violations for further investigation.

Each Web page provides a link to a support sidebar that the user can reach by clicking on the Federal Reserve System seal at the bottom of the page. The sidebar provides educational features that help users to spot violations and to learn more about the underlying regulation.

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