Fed Launches Mortgage Fraud PSA In Movie Theaters

In an attempt to educate movie audiences about foreclosure rescue scams, the Federal Reserve will begin running ads before movie previews starting in April, the Wall Street Journal reports.

‘People who are facing foreclosure are stressed enough,’ Sandra Braunstein, director of the Fed's Division of Consumer and Community Affairs, told the paper. ‘The last thing you need to do in a situation like that is put out a couple thousand dollars. There are people out there who can help and do not charge.’

The Fed's campaign will initially be rolled out in seven states particular hard hit by the foreclosure crisis Arizona, California, Georgia, Florida, Michigan, Nevada and Ohio. The initiative's costs total about $9,000 the report says, and the ads were produced by National CineMedia.

SOURCE: Wall Street Journal

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