Significant job market changes in recent years, brought about by global competition and technological advances--and the new and shifting skills that these changes demand--make workforce development more important than ever before. As community development practitioners, you know that good-paying, stable jobs are not only important to workers and their families, but also are the foundation of strong neighborhoods.
As part of our CRA responsibilities, the Federal Reserve, together with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, has made it clear that banks will receive CRA recognition for lending to, investing in, and providing services to workforce development initiatives.