For example, the Board has published brochures to assist consumers when they are shopping for a credit card, looking for a mortgage, or leasing a vehicle. We have also published brochures to help consumers understand their checking accounts and overdraft protection programs and to educate them on the effects of having their payments processed electronically.
Recently the Board has focused on helping consumers better understand nontraditional mortgage products and adjustable-rate mortgages (ARMs) and has prepared a consumer publication on these products. In June, we launched an online mortgage calculator that allows consumers to easily compare their monthly payments, and the amount of equity they will build, under several kinds of fixed- and adjustable-rate mortgages.