The Federal Reserve Bank of Richmond has named the chair of its Community Investment Council for 2012 and announced two new members.
The primary purpose of the Council is to inform the Bank about emerging issues and trends in communities across the Fifth Federal Reserve District, including low- and moderate-income neighborhoods and communities. The information gleaned from the Council will be used to help shape Richmond Fed policy decisions and to contribute to the Bank's strategic direction.
Council members are chosen to represent unique perspectives on community investment and local economic growth. This includes leaders from rural and urban communities who understand the challenges to and opportunities for local economic growth, especially with respect to community investment mechanisms and policies. Joining the Richmond Fed Community Investment Council are:
Chris Kukla, senior counsel for government affairs at the Center for Responsible Lending in Durham, N.C., has been selected as chair of the council. Members of the Community Investment Council serve three-year terms on a rotating basis and may serve two consecutive terms.
The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.
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