Consumer Compliance Outlook > 2008 > Second Quarter 2008

Consumer Compliance Outlook: Second Quarter 2008

The Federal Reserve's Partnership for Progress Program

The Partnership for Progress program is intended to preserve and promote minority-owned institutions and enhance their ability to thrive in an increasingly competitive banking environment.

Supporting minority-owned institutions is fundamental to the Federal Reserve's mission to provide a safe, sound, and accessible banking system that protects consumers and promotes competition. Minority-owned institutions that remain stable, operate in a safe and sound manner, and grow to a size that allows them to meet credit needs and provide financial services, often to underserved populations and markets, add strength and vitality to the communities they serve and provide stability to the U.S. economy.

The Partnership for Progress outreach program will serve as a premier source of information for minority-owned institutions. The program has multiple distribution channels to ensure that it has a broad reach and a variety and depth of resource materials to address the diverse needs of different minority-owned institutions. The online feature of the program will provide bankers with the opportunity to review a wealth of information on their own. Workshops will provide a channel for participant feedback that will be used to enhance the program. Although the program's primary target audience is minority-owned institutions, portions of the program apply more broadly to de novo institutions, which may find the information and participation in the program useful.

The Partnership for Progress program website will be available soon. For more information on the program, please contact H. Robert Tillman, program manager, at 215-574-4155.