OCC
Highlights Strategies for Reaching Minority Markets
WASHINGTON The Office
of the Comptroller of the Currency (OCC) today released a new Community Developments Insights report,
Reaching Minority Markets:
Community Bank Strategies, examining a variety of methods that banks are
using to target specific minority markets in the United States.
The diversity of our
Nations population continues to grow, yet many minorities do not have a
banking account, said John C. Dugan, Comptroller of the Currency. By offering an expanded array of products
and services to this changing consumer base, banks broaden their market and
enable a greater number of consumers to enter Americas financial mainstream.
Depending on their
business model and targeted customer base, community national banks are using
various approaches to reach minority consumers.
These products, services, and marketing strategies can assist banks with
developing customers from growing minority markets, many of whom currently use
nonbank financial service providers, such as check cashing outlets and payday
lenders, for their financial service needs.
This Community
Development Insights can be found on the news release page of the OCC
web site by going to www.occ.gov and clicking on the
news release button on the left side of the page or by visiting http://www.occ.gov/cdd/resource.htm for the OCC
Community Affairs publications page.
# # #
The
Office of the Comptroller of the Currency was created by Congress to charter
national banks, to oversee a nationwide system of banking institutions, and to
assure that national banks are safe and sound, competitive and profitable, and
capable of serving the banking needs of their customers in the best possible
manner. OCC press releases and other
information are available at http://www.occ.gov. To receive OCC press releases and issuances
by email, subscribe at http://www.occ.gov/listserv.htm.