One recent change in the directors’ roles came under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010: Only the six nonbank directors on each board may vote to select a Reserve Bank president, subject to the approval of the Board of Governors.
We study access to mortgage and small business credit for underserved populations and have participated in a pilot program teaching mortgage finance at select community colleges. This innovative program, targeted to minority students in underserved communities, trains individuals for a broad array of career opportunities in mortgage lending. We also are interested in measuring the effectiveness of financial education programs.