Federal Reserve heads to theaters

Institution plans PSA about foreclosure scams

Moviegoers plunking down in their seats will soon be greeted with a message from an unlikely source: The Federal Reserve.

The institution plans to run a public service announcement in theaters warning of foreclosure scams, including those that purport to offer information for a fee even though it is readily available for free from consumer groups and the federal government. 

Starting on April 10, the 30-second PSAs will run before trailers in 28 theaters in 14 cities hit hard by foreclosures. The spots, which will run for seven days, warn audiences, “Don’t be taken advantage of. It shouldn’t hurt to get help.” They direct consumers to go to federalreserve.gov and click on “Five Tips for Avoiding Foreclosure Scams.”

After reports of an uptick in fraudulent activity via telemarketing, the Internet and infomercials, the Federal Reserve decided to run the spots in theaters because it allowed them to target consumers in a more creative way than on TV, where PSAs are often relegated to latenight purgatory, a source with the Fed says. They will run in California, Nevada, Florida, Ohio, Michigan, Arizona and Georgia.

The Fed is paying $9,000 to show the spots in the theaters. They have run PSAs before on radio and TV in the late 1990s featuring then-chairman Alan Greenspan offering information about financial education.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading