The Economic Forum - FedCommunities.Org

10:00 AM

Welcome back to the Economic Forum! Last time we took a look at the Community Reinvestment Act of 1977, and its role in how banks aid low and middle income neighborhoods. Knowing that these banks go through an examination process, and that the public can play a role in the building of the bank's strategic plan, the question was still who regulated all these activities? The simple answer to that question is the Federal Reserve. What I have found is that the Federal Reserve has a community development branch, and we will take a closer look at that today.

According to the website (FedComm) "provides Federal Reserve resources to community development practitioners working in policy and the field." On their site they post several forms of information, from upcoming conferences to their podcast Access (which I have not yet checked out), to data and research conducted by their team. There are 12 Districts of the Federal Reserve, (one of which is my hometown of Cleveland), and to find out which district your neighborhood falls in note the map below and check out the FedComm website to know what community development efforts are taking place and how you can be a part of positive local change.

 If you are interested in what your region is doing in the area of the CRA the Tools section is where a few of the different regions have posted their tools and frameworks for financial institutions and citizens alike to understand more about The Act and how to utilize it benefits effectively.

You Might Also Like