In particular, the reform of the quota and voice at the IMF, which is ongoing, should foster its legitimacy and inclusiveness, improving overall global governance in line with the decision of transferring competencies and responsibilities from the G7 to the G20.
To complement the work we do with the other regulators to write regulations and guidance implementing CRA, the Federal Reserve System’s community development staff help banks understand and meet their responsibilities under the law. Fed staff members also act as liaisons between banks and community organizations to identify local community development needs and solutions.