the Racial Wealth Audit from the Institute on Assets and Social Policy (IASP) and the Racial Equity Toolkit from the Government Alliance on Racial Equity (GARE) are needed to provide a framework to assess how legislation will widen or narrow the racial wealth divide. (11) Changes in individual behavior will not close the racial wealth divide, only structural systemic policy change. 3. Data collection on race and wealth Section 10 of the Federal Reserve Act ( 12 U.S.C. 241 et seq.) is amended by inserting before paragraph (12) the following: (11) Data collection on race and wealth The Board of Governors of the Federal Reserve System shall, in carrying out any Survey of Consumer Finances or Survey of Household Economics and Decisionmaking, including the collection of localized data, collect information on household assets and debt disaggregated by respondent race, ethnicity, tribal affiliation, and ancestral origin. .