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March 29-30, 2007

The Capital Hilton, Washington, D.C.

Call For Papers
A Federal Reserve System Community Affairs Research Conference
The program committee welcomes research papers and studies that address the following topics, among others: • Challenges to and opportunities for improving the effectiveness of community development efforts, including: – The changing market structure of the financial services industry – The changing market structure of community organizations – Fair and equal access to credit – Consumer debt burdens and/or bankruptcies – Foreclosures – Predatory lending – Financial education • Effective government policy for promoting community development in the new financial services environment • Regulation of consumer finance • The impact and effectiveness of the CRA on: – Lending and investment – Urban/suburban residential growth – Small business growth in low- and moderate-income areas – The borrowing patterns of minorities and immigrants – Wealth creation in underserved communities • The impact of the 2005 changes to the CRA on its effectiveness • Methods for assessing the efficacy of the CRA and other community development efforts • Innovations in financial products, services, delivery of services, and marketing of services to underserved communities • Consumer access to mortgage and other credit • Business access to credit and capital • Studies that use new proprietary databases or the most recent Home Mortgage Disclosure Act (HMDA) data, the Survey of Consumer Finances (SCF), or the Survey of Small Business Finances (SSBF).
Authors of papers accepted for the conference are expected to provide executive summaries, which may be published in the Federal Reserve’s conference proceedings. Paper presenters and discussants will receive travel expenses as per Federal Reserve System guidelines; authors of selected papers will receive honorariums. Along with your submission, please indicate whether you would like your paper considered for publication in the Journal of Economics and Business. The regular submission fee for the journal will be waived for papers submitted through the conference. Loretta J. Mester will serve as editor of this special issue. Acceptance for the conference does not guarantee acceptance for publication in the Journal of Economics and Business. Individuals interested in presenting their research should submit via e-mail an electronic copy of their completed paper (which will receive preference) or detailed abstract by July 15, 2006 to: Loretta J. Mester Senior Vice President and Director of Research E-mail: PHIL.CAResearchConf Mailing address: Loretta J. Mester Senior Vice President and Director of Research ATTN: Community Affairs Research Conference Research Department Federal Reserve Bank of Philadelphia Ten Independence Mall Philadelphia, PA, 19106-1574 Telephone inquiries: Amy Lempert, Manager Community Affairs Department Federal Reserve Bank of Philadelphia Phone: 215-574-6570

In the 30 years since the passage of the Community Reinvestment Act (CRA), the financial services landscape has undergone significant changes, including consolidation, geographic expansion, and product, process, and provider innovations. The Community Affairs officers of the Federal Reserve System are jointly sponsoring their fifth biennial research conference, to encourage objective research into the factors governing the availability of credit and capital to individuals and businesses within this changing financial services environment. How effective has the CRA been in promoting such access and encouraging community and economic development? Will CRA continue to be effective, or is it even needed in the new financial environment? What new challenges will households, businesses, and communities face as the economic and financial environment continues to change? Will current programs and government policies need to be altered to increase their efficacy? The conference will bring together a diverse audience from academia, financial institutions, community organizations, foundations, and the government. The Journal of Economics and Business intends to publish a special issue on the topics covered in the conference.



Learning from the Past, Looking to the Future