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Federal laws to protect consumers in financial transactions are the responsibility of the Federal Reserve, which also reviews compliance by institutions. These consumer-protection laws cover such areas as charge and credit cards, ATMs, deposit accounts, automobile leases, and mortgages.
In accordance with the Community Reinvestment Act of 1977, the Reserve Bank takes an active role in encouraging local institutions to work with community groups on economic development projects. In fact, bank examiners from the Fed routinely review institutions' efforts to meet the credit needs of their communities, including low- and moderate-income neighborhoods.