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In this lesson, the teacher explains the direct deposit form, which allows employees to have their earnings deposited directly into their bank accounts instead of receiving checks. The teacher emphasizes that to complete the direct deposit authorization form, students must provide specific information, including their name, address, city, state, and zip code. An example address is given: "614 Douglas Park" in Louisville, Kentucky. The lesson focuses on understanding each required piece of information necessary to set up direct deposit for receiving paychecks.