Community & Economic Development
The Bank's Community Development & Policy Studies department monitors community development projects taking place througout the Seventh Federal Reserve District.
The Chicago Fed serves many diverse communities throughout the Seventh District. With research and policy recommendations, the Bank works to promote community development and sustainable growth for all sectors of the economy.
The Bank's Community Development & Policy Studies department monitors community development projects taking place througout the Seventh Federal Reserve District.
The Community Reinvestment Act of 1977 requires that regulators of bank and thrifts encourage these organiziations to help meet the credit needs of the communities in which they are chartered.
CEDRIC's principal mission is to foster research related to consumer and economic development issues such as consumer and small business financial behavior, access to credit, affordable housing, and community development and reinvestment.
Financial access — knowing what one's financial options are and having products and services to choose from — is closely linked to economic prosperity. The success of today's immigrants, who come to the United States largely seeking to improve their own prospects for prosperity, depends on their access to mainstream financial institutions that can help them save money, buy homes, access credit, start businesses and otherwise build wealth.