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.
The Passage to Banking: Linking Immigrants to Mainstream Financial Services
November 21, 2002
According to the 2000 Census, 20% of the residents of New York State, 18% of the residents of New Jersey, and 11% of the residents of Connecticut were born outside the United States. Many of these immigrants have low to moderate incomes and, for a variety of reasons, are unbanked. This conference discussed different kinds of financial services that immigrant communities demand and the ways in which financial institutions and community-based organizations are developing strategies and products for meeting that demand.