Community Development



October 26, 2010

Forum Focuses on Economic Benefits of Car Ownership

Washington, D.C.

The Federal Reserve Bank of Richmond and the National Consumer Law Center, with the support of the Annie E. Casey Foundation, are hosting a national forum on cars and working families on October 29, 2010, at the Federal Reserve Board of Governors in Washington, D.C. This meeting will convene consumer advocates, practitioners, academics, regulators and other groups interested in ensuring that working families can purchase and maintain a reliable car at fair terms.

Panelists from government, financial and nonprofit entities will discuss the importance of car ownership to a family's economic success; the obstacles and challenges that families face in the existing markets for cars and financing; and the efforts currently being made to provide improved access to car ownership. Discussion topics also will include the changing landscape of auto sales and finance regulation, data collection and analysis, and the efforts of nonprofit ownership programs to meet the needs of low-wage workers for a reliable car.

Having access to a reliable car can promote economic stability and greater access to employment opportunities. Participants will discuss promising practices and potential solutions to these issues including policy change, market-based improvements and nonprofit ownership programs.

Media interested in attending must register through the Federal Reserve Bank of Richmond with Jim Strader by providing their name, organization, email and phone by noon Thursday, October 28.

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.


Contact Us


Jim Strader
(804) 697-8956
(804) 332-0207 (mobile)