Community Affairs

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

What's New in Community Affairs

• Financial Literacy Update - Jan/Feb '09 (PDF) Welcome to the OCC's second Financial Literacy Update. These periodic updates contain information about upcoming financial literacy events, new initiatives of the Office of the Comptroller of the Currency and other organizations in the financial literacy field, as well as listings of financial literacy and consumer financial education resources.



• Mortgage Banking Magazine recently spoke with Barry Wides, OCC's Deputy Comptroller for Community Affairs, about the Community Affairs Department's mission and how it is helping to respond to current conditions in the mortgage market. Read the article and interview here. (PDF 4MB)



• OCC Update for June - October 2008 (PDF )



• Neighborhood Stabilization - The OCC recently launched this Web page which contains a range of resources for bankers and consumers related to homeownership preservation and stablizing neighbrohoods affected by foreclosures.



• OCC Bulletin Revising Part 24 Investment Authority (OCC 2008-22)

Recently Released Publications

	Historic Tax Credits: Bringing New Life to Older Communities (NR 2008-140) This edition of Community Developments Insights describes the Historic Tax Credit program with a particular focus on topics of interest to bankers new to the product. The report examines the primary risks and regulatory considerations associated with financing HTC projects as well as how Historic Tax Credits would be considered in a bank's Community Reinvestment Act examination. Also discussed is how national banks may utilize these credits under the "Part 24" public welfare investment authority, which the Housing and Economic Recovery Act recently expanded to include a broader range of communities targeted for revitalization, FEMA-designated disaster areas, and rural underserved and distressed communities.
	Gulf Coast Redevelopment: Pathways to Recovery [PDF] (NR 2008-130) The Fall 2008 edition of the Community Development Newsletter features an overview of how banks, for-profit and nonprofit businesses and state and local government agencies have responded to the damage inflicted on the gulf coast region by the 2005 hurricane season. It includes the specific activities of selected national banks and their partners, and offers opportunities for others interested in supporting the continuing recovery effort. It also highlights recent legislative and regulatory changes that facilitate national bank investments in this and other recovery efforts from federally declared disasters.
	Multibank CDCs: Pooling Resources to Strengthen Communities (NR 2008-109) The Fall 2008 edition of the Community Developments Investments focuses on multibank community development corporations (MBCDC) and features guidance for establishing a MBCDC, describes three existing MBCDCs, and describes how MBCDCs use gap financing to complement bank loans.
	The SBA's 7(a) Loan Program: A Flexible Tool for Commercial Lenders (PDF 311KB ) NR 2008-108 This edition of Community Developments Insights examines the primary bank risks, benefits, and regulatory considerations associated with the Small Business Administration's 7(a) Loan Program. The report provides a comprehensive overview of the program for lenders that may be considering expanding their product line with 7(a) loans. It also highlights how banks can use the 7(a) program to develop new business, mitigate risk, enhance profitability, improve liquidity management, and meet certain regulatory requirements.
	Preservation of Affordable Multifamily Housing (NR 2008-51) Preservation of Affordable Multifamily Housing (Spring 2008) features an overview of the challenges facing the nation's affordable multifamily rental housing inventory and describes how a variety of public, private, and nonprofit initiatives have addressed these challenges. This issue also highlights the specific activities and investments of selected national banks, nonprofit organizations, and state and local government agencies in supporting the preservation of affordable multifamily rental housing.
	Low-Income Housing Tax Credits: Affordable Housing Investment Opportunities for Banks (NR 2008-10) This edition of Community Developments Insights describes how LIHTCs are used to develop affordable rental housing and how banks can benefit from investing in LIHTC-financed projects. It describes the two approaches for investing in LIHTCs - direct investments in individual affordable housing projects and fund investments that have multiple projects managed by third parties. The report outlines risks and regulatory considerations of LIHTC investments and describes how these investments would be considered under the Community Reinvestment Act (CRA).