Investing Basics: Chapter 6 quiz

Complete this analogy. A credit union is to a bank as:

A horse is to a buggy.

A neighborhood co-op is to a supermarket.

A shopping mall is to a parking lot.

How do you file a complaint against your bank?

Loudly and to anyone that will listen.

Contact the SEC, and send them a detailed account of the problem and all documentation. They oversee banks, credit unions and thrifts.

Collect your documentation, speak with a manager and then send a formal complaint to the Office of the Comptroller of the Currency for national banks or the Federal Reserve for state-chartered banks.

What the heck is the FDIC, anyway?

The Federal Deposit Insurance Corp., it controls interest rates and issues money every so often.

Federal Deposit Insurance Corp., it insures against bank robbers and dishonest banking practices.

Federal Deposit Insurance Corporation - it insures accounts in any FDIC-insured bank in the U.S. for up to $100,000 and $250,000 for retirement accounts.