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 New York Fed engages with individuals, households and businesses in the Second District and maintains an active dialogue in the region. The Bank gathers and shares regional economic intelligence to inform our community and policy makers, and promotes
sound financial and economic decisions through community development and education programs.
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.