The mission of the Community Development function of the Federal Reserve System is to support the economic growth objectives of the Federal Reserve Act by promoting community development and fair and equal access to credit. 

To this end, the Community Development department seeks to promote:

  • The active engagement of depository institutions in traditionally underserved markets for credit and other banking services; 
  • Cooperation between community organizations and financial institutions to their mutual benefit; 
  • Greater public understanding of financial services products, their intrinsic benefits and risks, and the consumer’s rights and responsibilities as expressed in pertinent regulations; 
  • A better understanding, on the part of policymakers, community leaders, and private decision-makers, of the process of community development, the factors critical to success, and best practice models of community development programs; and 
  • A better understanding of the effect of Federal Reserve policies on the less advantaged segments of the economy.  

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