Jimmie Jackson of SUN Meets The Fed

SUN Member Jimmie Jackson meets Anna Alvarez Boyd, Associate Director
of the Division of Consumer and Community Affairs
for the Federal Reserve Board of Governors.

SUN hit the road on July 16th and took 18 members to Buffalo. WE
took part in one of nine meetings being held across the country this
summer to talk about the problems low income neighborhoods face with
mortgage foreclosures and vacant houses. These meetings came about

We will be meeting with representatives of the Federal Reserve Bank,
Board of Governors. (Commonly referred to as The Fed.) The nine
members of the Board of Governors are appointed by the President and
oversee a vast institution with many roles.

The Fed serves as the nation’s central bank, loaning money to banks
across the country, helping banks maintain enough money to function.
The Fed was the agency that authorized the massive bailouts of banks
and the insurance company AIG this past year. The Fed is also
supposed to regulate the banks, making sure they are both financially
sound--as well as meeting their obligations to make loans under the
Community Reinvestment Act.

SUN will be joining members of PUSH Buffalo for a 3:30 PM tour of
Buffalo neighborhoods hit hard by foreclosures and vacant houses. At
6 PM we will attend a public meeting. Amanda Pascall from SUN will
be on a panel with other neighborhood residents to talk about how
foreclosures and vacant houses have effected their neighborhoods.