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Discussion Paper
Tracing the History of Community Development Credit Unions
When the Community Reinvestment Act was passed in the late 1970s, Congress tasked the 12 Federal Reserve Banks with ensuring that supervised financial institutions meet the credit needs of the communities they serve. Community development financial institutions (CDFIs) are mission-driven lenders that help provide credit in underserved areas. As we gather information on CDFIs through the 2025 Federal Reserve CDFI Survey, we want to examine the roots of community development finance and the evolution of CDFIs.This post focuses on the history of one type of CDFI: community development credit ...
Discussion Paper
Recent Employment Changes in the D.C. Area
An important role of the Richmond Fed is understanding economic developments in our Fifth District. The concentration of federal employees and spending in the District of Columbia, Maryland, and Virginia has made it particularly important to understand any potential impact of federal spending and workforce cuts on the regional labor market. This post describes some of the labor market data that we track and explores recent employment declines and elevated unemployment claims in the public and private technical sector of the D.C., Maryland, Virginia (DMV) region.