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Federal Reserve
The US central bank, responsible for monetary policy, bank regulation, and government financial services.
More Details
The Federal Reserve, also known as the "Fed," is the central bank of the United States. It was created by Congress in 1913 to provide the nation with a stable and flexible monetary and financial system.
Example
The Federal Reserve helps to protect your financial success by regulating banks, implementing monetary policy, providing financial services, and providing overall economic stability with its oversight.
Related Terms
Foreclosure
The legal process by which a lender repossesses a property when the borrower fails to make their mortgage payments.
Fair Credit Reporting Act (FCRA)
A federal law that protects consumers' credit information and gives them the right to access and dispute their credit reports.
Legacy Member
A legacy member is a long-time member of a credit union, with family membership often spanning multiple generations.

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