OCC: Community Affairs

Welcome to Community Affairs - the OCC's community development resource for national banks, government agencies, and community organizations. See more...

Upcoming Events

Georgia Micro Lender Seminar (Atlanta, GA - September 9, 2010)

Chevelle Wilson

Interagency Community Development Conference, "Community Banks and the Outlook for Residential and Small Business Lending" (Cleveland, OH - September 16, 2010)
The Office of the Comptroller of the Currency, the Federal Reserve Bank of Cleveland, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision are co-sponsoring an Interagency Community Development Conference on September 16, 2010 in Cleveland, Ohio. The workshop will provide community banks with examples of opportunities for community development lending in the areas of small business and residential mortgages. To register, click here.

What's New in Community Affairs

Financial Literacy Update - August/September 2010 (PDF 212KB)
The OCC's latest edition of the Financial Literacy Update has been released. These periodic updates contain information about upcoming financial literacy events, new initiatives of the OCC and other organizations in the financial literacy field, and listings of financial literacy and consumer financial education resources.
OCC Update March - May 2010 (PDF 116KB)
The OCC Update provides information about recent OCC issuances affecting CRA, fair lending, small business financing, financial literacy, access to financial services, consumer protection, and other consumer compliance matters.
The Financial Literacy and Education Commission (FLEC) has announced the launch of its redesigned financial literacy education website, www.MyMoney.gov. The new site has enhanced interactive features and provides more resources to Americans by providing information to help them make their personal financial decisions. The new MyMoney.gov creates an online point of access to financial information from the twenty-one Federal agencies, departments, and bureaus that comprise the FLEC, including the OCC. Users will be able to find information about how to plan for a host of life events that have financial implications, such as birth or adoption of a child, homeownership, and retirement. The site also provides money management tools including a financial savings calculator, worksheets for establishing a household budget and a college preparation checklist, among others. The web site was made possible by the Financial Literacy and Education Commission, which was established under the Fair and Accurate Credit Transactions Act of 2003. The Commission was tasked to develop a national financial education web site along with a hotline (1- 888-My Money) and a national strategy on financial literacy.
Multifamily Rental Resource Directory - The OCC launched this Web directory which provides information for banks and others interested in multifamily finance and investment programs.
OCC Releases Consumer Advisory: "Consumer Alternatives for Receiving Income Tax Refunds" (PDF KB) (NR 2010-15)
The Office of the Comptroller of the Currency (OCC) issued a consumer advisory and policy statement regarding tax refund-related products, including refund anticipation loans.
FHA's 203(k) Loan Program: Helping Banks and Borrowers Revitalize Homes and Neighborhoods (July 2009) (PDF 690KB) (NR 2009-91)
This edition of Community Developments Insights examines the primary bank risks, benefits, and regulatory considerations associated with the Federal Housing Administration (FHA) 203(k) Home Rehabilitation Mortgage Insurance Program. The report provides a comprehensive overview of the program for lenders that may be considering expanding their product line with 203(k) loans. This product can be used by banks to develop new business, mitigate risk, enhance profitability, and meet certain regulatory requirements, as well as assist in the revitalization and stabilization of neighborhoods negatively impacted by the current foreclosure crisis.
Tax Credit Resource Directory - The OCC recently launched this Web directory which provides information for banks interested in learning about possible financing and investment opportunities from federal tax credit programs, including the Historic Tax Credit Program, Low-Income Housing Tax Credit Program and the New Markets Tax Credit Program.

Recently Released Publications

	Road to Recovery: Banks Can Use Recovery Act to Help Pave the Way (Spring 2010) (NR 2010-48) describes how banks and their local partners can help promote economic growth through programs authorized in the American Recovery and Reinvestment Act of 2009 and subsequent legislation. The newsletter provides a snapshot of various Recovery Act programs designed to encourage lending, investments and community development services activities and outlines how such activities might help a bank's Community Reinvestment Act performance.
	Neighborhood Stabilization: Local Partnerships Are Rebuilding Communities (Fall 2009) [PDF] (NR 2009-147) features an overview of strategies that banks, nonprofit businesses and local government agencies have developed in response to the growing number of residential foreclosures. It includes the specific activities of selected national banks and their partners, and offers opportunities for others interested in supporting community stabilization. It also highlights a federal funding program and related national nonprofit infrastructure developed to facilitate the transition of real estate owned (REO) from financial institutions to the aspiring homeowners and nonprofits who can return them to the productive housing stock.
	FHA's 203(k) Loan Program: Helping Banks and Borrowers Revitalize Homes and Neighborhoods (July 2009) (NR 2009-91) This edition of Community Developments Insights examines the primary bank risks, benefits, and regulatory considerations associated with the Federal Housing Administration (FHA) 203(k) Home Rehabilitation Mortgage Insurance Program. The report provides a comprehensive overview of the program for lenders that may be considering expanding their product line with 203(k) loans. This product can be used by banks to develop new business, mitigate risk, enhance profitability, and meet certain regulatory requirements, as well as assist in the revitalization and stabilization of neighborhoods negatively impacted by the current foreclosure crisis.
	School-Based Bank Savings Programs: Bringing Financial Education to Students (April 2009) (NR 2009-45) Banks establish school-based bank savings programs as financial education initiatives to help students learn about the importance of saving and other money management topics. This edition of Community Developments Insights discusses how school-based bank savings programs operate.
	Cultivating Community-based Financial Literacy Initiatives (Spring 2009) [PDF] (NR 2009-41) This edition of Community Developments Investments highlights roles that banks can play in promoting financial stability through local partnership efforts. Its articles describe four programs that help banks and their community partners reach out to consumers to encourage better money management through savings and checking products.
	Property Disposition: Exploring Different Approaches for Preserving Affordable Housing Opportunities (NR 2009-20) This edition of Community Developments Insights highlights partnerships for banks working to dispose of foreclosed properties in creative ways that preserve affordable housing opportunities and stabilize communities. This report reviews initiatives and strategies for building partnerships among banks or mortgage servicers and nonprofit organizations, for-profit affordable housing developers, government entities, and others that are implementing plans to create affordable rental or homeownership opportunities and revitalize areas affected by foreclosed properties.

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