(November 21 – 16:35 ET) – The U.S. Federal Reserve Board has launched a shady online bank. The Checkers Bank is a simulated online bank that the Fed has set up to show bankers what not to do with their Web sites.
The Checkers Bank is an educational tool adapted from an internal Fed program used to train examiners. It intentionally includes violations of consumer protection regulations and other questionable elements. It allows you to pull up hints about possible violations on each page as well as the actual answers.
The Fed says the Checkers Bank represents the broad range of Web content and technology encountered by Fed examiners in their consumer compliance reviews. “Any resemblance of The Checkers Bank to an actual financial institution, however, is unintentional,” the Fed says.
Online bank a lesson in how-not-to
Site provides instructional violations, says Fed
- By: IE Staff
- November 21, 2000 November 21, 2000
- 16:35
IE Staff