About Community Development and Policy Studies
The Community Development and Policy Studies (CDPS) division is part of the Economic Research department of the Federal Reserve Bank of Chicago. CDPS works to improve the socioeconomic prospects of low- and moderate-income people in part by working with community leaders to bring development and reinvestment opportunities to underserved communities. CDPS recognizes and works to address many challenges in the community development field. Current priority areas include affordable housing shortages, access to credit for small businesses, rural development, and funding for community and economic development in lower-income communities in a limited resource environment.
CDPS has adopted the tagline "research, convene, and connect" to express our core functions succinctly. We research and conduct outreach to gain insight on key issues hindering access to credit and economic opportunity; convene diverse community development and policy stakeholders to share information and coordinate solutions; and connect financial institutions and other intermediaries with places in need to foster effective interventions.
CDPS maintains a number of strategic priorities in order to further its mission of improving the socioeconomic prospects of low- and moderate-income communities. The department helps promote access to credit by providing technical assistance to financial institutions related to CRA and fair lending compliance, regularly holding forums for bankers and community intermediaries, and working to understand, document, and inform about efforts to modernize CRA. CDPS also supports endeavors to foster holistic/comprehensive community development in areas that are economically challenged by documenting and sharing effective strategies and interventions. Finally, the division promotes the growth and health of small businesses – key drivers of local economies – by working with entrepreneurially focused service agencies to address the particular needs of small businesses in redeveloping areas.
For more information about CDPS's work, see a summary of the department's recent 5-year strategic plan, or contact email@example.com for more information.