Imagine yourself nestled into a movie theatre seat, popcorn in hand, ready for the feature film, or at least a stream of coming attractions. Surprise. First, here comes the Federal Reserve.
The U.S. central bank announced that it is sponsoring 45-second advertisements in movie theatres designed to help people use their credit cards more wisely.
Capitol Hill is locked in debate about possible reform of the financial services industry. Part of the tension centers around whether a new agency is needed that would specifically focus on consumer protection. The Fed now has some of that authority.
The Fed said the ads will appear before movie previews at 12 highly attended venues in big metropolitan areas from Nov. 27 through Dec. 3.
The Fed message is straightforward. Pay on time; stay below your credit limit; avoid unnecessary fees; pay more than the minimum; and watch for changes in the terms of your account.