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U.S. central bank governor calls for better access to credit for Native Americans

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Oct 13 (Reuters) – Federal Reserve Governor Lael Brainard mentioned Wednesday that U.S. monetary regulators will search to enhance Native American communities’ access to credit.

“We will continue to focus on and seek feedback on how to best encourage impactful CRA (Community Reinvestment Act) activities in Indian Country, including for building climate resilience where needed,” Brainard mentioned in ready remarks.

Brainard was to converse to Oklahoma tribal leaders at a “Fed Listens” occasion, a collection of gatherings meant to create alternatives for communities to inform Fed policymakers about how they expertise the economic system.

Brainard mentioned the pandemic had worsened longstanding financial disparities between white and Native American households, with native households and companies going through large challenges in acquiring credit amongst different difficulties.

Brainard didn’t touch upon financial coverage or the outlook for the economic system in her ready remarks.

Reporting by Ann Saphir; Editing by Cynthia Osterman

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