Information on Government Financial Resources - The Fed, IRS, FTC
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There are many resources available to you through the government that will help you to manage your finances, debt, and taxes. Some of these resources include:
The Federal Reserve (The Fed) www.federalreserve.gov The Federal Reserve, or the Fed, as it is commonly referred to, is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. Today, the Federal Reserve’s duties fall into four general areas:
- conducting the nation’s monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates
- supervising and regulating banking institutions to ensure the safety and soundness of the nation’s banking and financial system and to protect the credit rights of consumers
- maintaining the stability of the financial system and containing systemic risk that may arise in financial markets
- providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation’s payments system
Internal Revenue Service (IRS) www.irs.gov The IRS is a bureau of the Department of the Treasury and one of the world's most efficient tax administrators. In 2004, the IRS collected more than $2 trillion in revenue and processed more than 224 million tax returns. The IRS Mission is to provide America's taxpayers top quality service by helping them understand and meet their tax responsibilities and by applying the tax law with integrity and fairness to all.
Federal Trade Commission (FTC) www.ftc.gov The FTC deals with issues that touch the economic lives of most Americans. The agency has a long tradition of maintaining a competitive marketplace for both consumers and businesses. When the FTC was created in 1914, its purpose was to prevent unfair methods of competition in commerce as part of the battle to “bust the trusts.” Over the years, Congress passed additional laws giving the agency greater authority to police anticompetitive practices. | |
FDIC www.fdic.gov This link provides an overview of the FDIC including its history and its role in insuring depositors’ funds.
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