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Community and Economic Development

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ProfitWise News and Views Issue Two

In this issue, we study the composition and growth/decline of bank branches in Seventh District states, examine obstacles to employment among the formerly incarcerated, and explore community land trusts as a means to address affordable housing shortages and gentrification.

The Federal Reserve Introduces FedCommunities.org

This new portal provides single-point-of-entry access to hundreds of community development resources from across the System. Visit all thirteen external Federal Reserve sites to learn more about workforce development efforts, data on foreclosure mitigation across regions, and maps for use in stabilization efforts.

Chicago Fed Income Based Economic Index (IBEX)

The IBEX 12 Month Inflation Rates provide a monthly chain-weighted inflation measure for more than thirty socio-economic and demographic groups, as well as the overall urban population. It covers the period from 1983–2008. The inflation rates are updated annually in the first quarter of each year when new data for expenditures are available.

The CRA and Subprime Lending: Discerning the Difference Banking and Community Perspectives

The Community Reinvestment Act (CRA) has been under much scrutiny amid the subprime lending bust. Critics of the CRA contend that the law pushed banking institutions to undertake high-risk mortgage lending.This issue examines the CRA and its role in the mortgage market and distinguish it from causes of the subprime failure.

Related Research by Economists at the Federal Reserve Bank of Chicago

These are links to working papers and other research by Federal Reserve Bank of Chicago economists on topics related to community development, financial access, consumer and regulatory issues.