I mention Congress and these other agencies to emphasize that the Fed shares responsibility for writing and implementing federal regulations for community banks. Now, let me describe my role. In addition to my broader responsibilities in supervision and regulation, I am Chair of the Board’s Smaller Regional and Community Banking subcommittee, which oversees our work in this area.
I am also the Chair of the Board’s committee tasked with oversight of our rulemaking and supervision on consumer issues. I also participate in carrying out the Federal Reserve’s other responsibilities, such as conducting monetary policy and overseeing the payment system.