Sec. 102. Appearances before and reports to the Congress
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Section 2B of the Federal Reserve Act ( 12 U.S.C. 225b ) is amended— in subsection (a)(1)— in subparagraph (A), by striking and at the end; and by striking subparagraph
(B)and inserting the following: economic developments and prospects for the future described in the report required in subsection (b), including a discussion of disparities in employment, income, and wealth across racial and ethnic groups as well as other specific segments of the population; and plans, activities, and actions of the Board and the Federal Open Market Committee to minimize and eliminate disparities across racial and ethnic groups with respect to employment, wages, wealth, and access to affordable credit pursuant to section 2C. ; and in subsection (b)— by striking The Board and inserting the following: The Board ; and by adding at the end the following: Each report required under paragraph
(1)shall include recent trends in the unemployment rate, labor force participation rate, employment to population ratio, median household income, and change in real earnings. The trends required to be reported under subparagraph
(A)shall include— a comparison among different demographic groups, including race, ethnicity, gender, individuals with dependent children under the age of 18 (to the extent possible), educational attainment, age, disability (as such term is defined in section 3 of the Americans with Disabilities Act of 1990), and shall also provide cross-sectional data on the interaction between these groups and note any statistically significant findings, to the extent available; and data disaggregated by ethnic subgroup, to the extent available. The term ethnic subgroup means a social group that— has a distinct social, racial, geographic, national origin, or cultural identity; and is susceptible to being disadvantaged. . The Board of Governors of the Federal Reserve System, in consultation with the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the National Credit Union Administration, and the Bureau of Consumer Financial Protection, shall issue a report to Congress containing the plans, activities, and actions of the Board of Governors of the Federal Reserve System to minimize and eliminate disparities across racial and ethnic groups with respect to access to financial products for the purpose of restoration, renovations, or repair following a federally-declared disaster.