Cybertrek

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Cybertrek 1

The Federal Reserve Board is an independent agency of the federal government established in 1913 to regulate the nation's banking and financial industry.

1. Who is the current chair of the Federal Reserve Board of Governors? What is the process used to determine the chair of the Board?

2. What is the Federal Open Market Committee? What is its role?

3. Discuss any recent major actions taken by the Fed in any of its four major responsibilities.

Cybertrek 2

The Federal Deposit Insurance Corporation was formed in 1933 to help stop bank failures throughout the country during the Great Depression.

1. How many FDIC insured banks exist today?

2. Use the Web site to determine whether your bank is FDIC insured.

3. List the five largest banks and thrifts by asset size.

Cybertrek 3

The National Automated Clearinghouse Association Web site contains a wealth of information about electronic payment systems.

1. What does the National Automated Clearinghouse Association do?

2. How many companies currently use the ACH network? Is the utilization of direct deposit increasing or decreasing? Explain.

3. In your own words, explain how direct deposit works.

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