It requires that penalty fees be reasonable and proportional to the cost of the violation. It requires that any interest rate increases on new purchases be reviewed every 6 months so that consumers can return to a previous rate if conditions change. It also protects consumers who have temporarily fallen on hard times by requiring 60 days before penalty interest rates can be imposed.

It shields young people from taking on more debt than they can handle by limiting prescreened offers to young consumers. It also gives consumers more access to the information they need to make wise financial decisions, such as requiring full disclosure about due dates, penalties, and changes in terms.

What point of view toward personal debt do both Reid and the author of the textbook share?

Understanding the evolution of our banking system is important because it helps us understand the features of modern banking. Today we have a managed money supply that is accepted by everyone simply because people have faith in it. Which of the following is true about our banking system today?

Today's money is not backed by gold or silver.

Understanding the evolution of our banking system is important because it helps us understand the features of modern banking. Today we have a managed money supply that is accepted by everyone simply because people have faith in it. Which of the following is true about our banking system today?

Most of our money circulates as coins and paper currency.

What is the primary goal of including this paragraph in FDIC press releases?

To explain that the FDIC is not part of the state or federal government?

What is the primary goal of including this paragraph in FDIC press releases?

To reassure the public that the FDIC is a private company?

What is the primary goal of including this paragraph in FDIC press releases?

To educate and instill public confidence?

What is the primary goal of including this paragraph in FDIC press releases?

To connect the FDIC with the government?

Are bank mergers good or bad for the U.S. economy? Research this topic and write a onepage position statement that supports your opinion with your reasoning.

List some services that banks currently offer. What new services might banks offer in the future?

Assume that you inherited 5,000 dollars. Would you spend it or deposit it in a savings or checking account? Would you buy a CD or investigate other investment possibilities?

How does the system of reserve requirements expand bank deposits?

Why did money replace the barter syste?

In the section titled "Characteristics of Money," are the four characteristics of money in any particular order? Does the order suggest that some characteristics are more important than others?

Explain what a state-chartered bank is.