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Federal Reserve opens dummy Internet bank site

27 November 2000  |  2494 views  |  0 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.

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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