Charter of the Public Responsibility Committee
The Public Responsibility Committee reviews and considers the firm's position and practices regarding public responsibility matters of significance to the firm and the public at large and provides guidance on these matters to management and the Board as appropriate.
In furtherance of its mission, the committee shall, to the extent not considered by other committees:
The Public Responsibility Committee shall review, at least annually, the committee's charter and recommend any proposed changes to the Board for approval. The Public Responsibility Committee shall prepare, and report to the Board the results of, an annual performance evaluation of the committee, which shall compare the performance of the committee with the requirements of this charter.
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- Review strategy and budget with respect to charitable contributions and projects undertaken to improve the communities served by the firm.
- Review the community reinvestment activities of the firm, including the firm's progress under community development programs.
- Review mortgage lending activities of the firm in light of the firm's obligations under the Home Mortgage Disclosure Act.
- Review management's approach to consumer practices, which may include issues of disclosures and fees and introduction of major new products, in light of reputational considerations.
- Review the Firm's significant policies and practices regarding political contributions, major lobbying priorities and principal trade association memberships that relate to the firm's public policy objectives.
- Review legislative developments of significance to the firm, with an emphasis on matters of public responsibility.
- Review the environmentally-related policies and activities of the firm.
- Review shareholder proposals involving issues of public interest and public responsibility.