Community Affairs

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

Upcoming Events

• CRA Opportunities in a Changing Environment (Miami, FL - October 14, 2009)
  The OCC, FDIC, OTS, Federal Reserve Bank of Atlanta and the Florida Bankers Association are co-sponsoring a conference on CRA Opportunities in a Changing Environment in Miami, Florida on October 14, 2009. The conference will provide an overview on strategies for mitigating risk in the rapidly changing economic environment and will identify ways to increase community development lending, investments and services. Leading industry presenters and their secondary market purchasers (Fannie Mae, Freddie Mac, and the Federal Home Loan Bank of Atlanta) will discuss suitable ways to maintain lending and even increase volume. Strategies for using the many new programs such as Neighborhood Stabilization and existing Federal loan guarantees, grants and subsidies will be presented. To register, click here.
  
  
• CRA Opportunities in a Changing Environment (Orlando, FL - October 15, 2009)
  The OCC, FDIC, OTS, Federal Reserve Bank of Atlanta and the Florida Bankers Association are co-sponsoring a conference on CRA Opportunities in a Changing Environment in Orlando, Florida on October 15, 2009. The conference will provide an overview on strategies for mitigating risk in the rapidly changing economic environment and will identify ways to increase community development lending, investments and services. Leading industry presenters and their secondary market purchasers (Fannie Mae, Freddie Mac, and the Federal Home Loan Bank of Atlanta) will discuss suitable ways to maintain lending and even increase volume. Strategies for using the many new programs such as Neighborhood Stabilization and existing Federal loan guarantees, grants and subsidies will be presented. To register, click here.
  
  
• Interagency CRA Officer Training Workshop (Birmingham, AL - November 10, 2009)
  The OCC, Federal Reserve Bank of Atlanta, FDIC, and OTS are hosting a CRA Officer Training Workshop in Birmingham, Alabama on November 10, 2009. The workshop is designed for CRA officers of small and intermediate small banks and will focus on: (1) providing up-to-date information about developing a CRA strategy; (2) forming partnerships with community stakeholders; (3) determining qualified community development lending, services, and investments; (4) assessing community credit and financial services needs; and (5) assessing the bank's CRA Performance Context. In addition, regulators will provide best practice examples of partnerships and initiatives used by other banks to carry out their CRA objectives. To register, click here.

What's New in Community Affairs

• 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 page 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.
  
  
• Financial Literacy Update - July/August 2009 (PDF)
  The OCC's fourth 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.
  
  
• Financial Literacy Day on Capitol Hill was conducted by the Jump$tart Coalition, Council for Economic Education, and JA Worldwide and took place on Thursday, April 30, 2009 in the Cannon House Office Building. Over 50 exhibitors displayed their financial literacy programs and materials to a large crowd of business leaders, congressional aides, financial educators and the general public. U.S. Senator, Daniel K. Akaka (HI) and U.S. Representatives, Rubén Hinojosa (TX), Judy Biggert (IL), and Carolyn McCarthy (NY) spoke during the event. The OCC Community Affairs staff presented their three newest publications, Cultivating Community-based Financial Literacy Initiatives, School-Based Bank Savings Programs: Bringing Financial Education to Students (PDF 333KB), and the OCC's Consumer Advisory Consumer Tips for Avoiding Mortgage Modification Scams and Foreclosure Rescue Scams" (PDF) in addition to a variety of financial literacy publications.
  
  
• OCC Update for May - July 2009 (PDF)
  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.
  
  
• School-Based Bank Savings Programs: Bringing Financial Education to Students (April 2009) (PDF 333KB)
  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.
  
  
• Reaching New Bank Customers Through the Earned Income Tax Credit (PDF 1.9MB)
  This publication highlights efforts of national banks and other financial institutions-along with their nonprofit and government partners-to help promote the use of EITCs in their communities.
  
  
• Cultivating Community-based Financial Literacy Initiatives (Spring 2009)
  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.
  
  
• OCC Deputy Comptroller for Community Affairs Addresses the United States Commission on Civil Rights
  Deputy Comptroller for Community Affairs Barry R. Wides provided a statement (PDF) at the public briefing of the United States Commission on Civil Rights. The briefing focused on Community Reinvestment Act-related lending in relation to subprime mortgage originations.
  
  
• Property Disposition: Exploring Different Approaches for Preserving Affordable Housing Opportunities (PDF 374 KB)
  
  
• 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)
  
  
• Neighborhood Stabilization - The OCC recently launched this Web page which contains a range of resources for bankers and consumers related to homeownership preservation and stabilizing neighborhoods affected by foreclosures.
  
  
• OCC Bulletin Final Rule Part 24 Investment Authority (OCC 2009-14)

Recently Released Publications

	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.
	Historic Tax Credits: Bringing New Life to Older Communities (NR 2008-140) This edition of Community Developments Insights describes the Historic Tax Credit (HTC) 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 HTC 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 [PDF] (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 [PDF] (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).