The Federal Reserve conducts a wide range of functions to promote the effective operation of the U.S. economy and to serve the public interest. Promoting community development (Off-site) is a pillar across the System. This work involves advancing supervision, community reinvestment and research to increase understanding of the impacts of financial services policies and practices on consumers and communities. As Americans and all global citizens make adjustments to their day-to-day lives and finances due to COVID-19, the focus on community development is continuously evolving.

The Federal Reserve Banks’ community development sectors have been conducting evaluations on the issues specific to small businesses, student loan borrowing, healthcare, essential workers and many other topics. Check out the blogs and updates regarding community development in each Reserve Bank district below: