Sec. 2. Duty to minimize and eliminate racial disparities
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The Federal Reserve Act ( 12 U.S.C. 221 et seq.) is amended by inserting after section 2B the following: The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall exercise all duties and functions in a manner that fosters the elimination of disparities across racial and ethnic groups with respect to employment, income, wealth, and access to affordable credit, including actions in carrying out— monetary policy; regulation and supervision of banks, thrifts, bank holding companies, savings and loan holding companies, and nonbank financial companies and systemically important financial market utilities designated by the Financial Stability Oversight Council; operation of payment systems; implementation of the Community Reinvestment Act of 1977; enforcement of fair lending laws; and community development functions. .
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Sec. 2
Duty to minimize and eliminate racial disparities
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