The Minneapolis Fed's Community Development office is a leader or partner in a variety of efforts to promote community development and access to credit in the Ninth Federal Reserve District. The mix of projects and programs is constantly evolving as conditions in the District change. Some of our current focus areas are described below.
Community Development conducts extensive research on mortgage markets in our District to identify neighborhoods where foreclosures are or will be concentrated. We share our findings with financial institutions, community groups, housing counselors, and policymakers in order to help them prevent additional mortgage delinquencies and mitigate the negative effects of foreclosures and home vacancies. In addition, we convene meetings where community and policy leaders examine gaps and inefficiencies in foreclosure-tracking and -mitigation efforts.
We are committed to helping Native American communities promote entrepreneurship and build thriving private sector economies. Our initiatives in Indian Country include participating in the development and promotion of the Model Tribal Secured Transactions Act, which provides model legislation to facilitate commercial lending in reservation communities, and serving as a founder of Indian Business Conferences and Indian Business Alliances in several Ninth District states.
We promote efforts to educate consumers of all ages about managing money, saving for retirement, and building credit. Our activities include serving as lead conveners of statewide and national financial education coalitions; collaborating with partners in the private, public, and nonprofit sectors to produce educational materials and events; and researching the efficacy of financial education curricula. In addition, we participate in several initiatives designed to bring unbanked and underbanked consumers into the financial mainstream.
We promote the development of very small businesses, or microenterprises, by disseminating information about trends in the field; providing technical assistance; and sponsoring gatherings where lenders, microenterprise development organizations, and entrepreneurs can make connections and share ideas.