The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach & Education function engages, empowers and educates the public in the Second District. Our outreach mission furthers the Bank’s commitment to the region by listening to the communities we serve and developing programs, analysis and sponsored conferences and clinics to help meet their needs. Our education mission aims to advance public knowledge about the Federal Reserve System and its role in the economy.
In July 2011, much of the Board's rule writing and some of its supervisory authority regarding consumer protection transferred to the Consumer Financial Protection Bureau, which was established under the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act.
The Board retains supervisory authority regarding consumer protection for state member banks with assets of $10 billion or less (other than those that are affiliated with insured banks with assets of more than $10 billion), as well as responsibility for examinations of all state member banks, regardless of asset size, for compliance with the Community Reinvestment Act, Fair Housing Act, and Servicemembers' Civil Relief Act.