The Federal Reserve Board has announced the availability of a new video, "Lessons from a Storm," that tells the stories of families who, in the aftermath of Hurricane Katrina, learned about the benefits of maintaining a bank account that allows for the direct deposit of payments and benefits.
The video notes that consumers who use their bank account carefully and avoid overdraft fees will likely find it costs less than not having a bank account.
The 17-minute video was produced by a cooperative effort of the Federal Reserve Banks. Both English and Spanish versions are available for viewing online. Instructions for ordering a DVD are also available on the site.
See press release for details.
