Friday, March 27, 2009
Fed Features: Ads at Movies Warn Against Scams
By SUDEEP REDDY
The Federal Reserve is coming soon to a theater near you.
The subject won't be the drama inside the central bank or its role in the current financial crisis. Rather, Fed officials plan to launch advertisements in movie theaters to warn homeowners about foreclosure scams.
Intended to extend the reach of consumer warnings on the Fed's Web site, the ads will run in 14 cities with high-foreclosure housing markets and an outbreak of scam artists charging for guidance that is free from nonprofits working with the government.
The 30-second segment, built around text and an audio voiceover, features still photos of individuals and families. The opening line: "Are you facing foreclosure?" And the finale: "It shouldn't hurt to get help!" The closing shot guides viewers to foreclosure tips and other housing-related information on the central bank's Web site.