Welcome to Community Affairs - the OCC's community development resource for
national banks, government agencies, and community organizations. See more...
Upcoming Events
- Microenterprise Forum (Alexandria, LA - August 12, 2009)
The OCC and the FDIC in partnership with the U.S. Department of Commerce Minority Business Development Agency,
Louisiana Economic Development, and Louisiana Small Business Development Centers will co-sponsor a breakfast
forum to introduce bankers to the microenterprise finance program operated by ACCION Texas-Louisiana.
To register click here.
- Microenterprise Forum (Baton Rouge, LA - August 13, 2009)
The OCC and the FDIC in partnership with the U.S. Department of Commerce Minority Business Development Agency, Louisiana Economic Development, and Louisiana Small Business Development Centers will co-sponsor a breakfast forum to introduce bankers to the microenterprise finance program operated by ACCION Texas-Louisiana. To register click here.
- 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.
What's New in Community Affairs
- 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.
- 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
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 , and the OCC's Consumer Advisory Consumer Tips for Avoiding Mortgage Modification Scams and Foreclosure Rescue Scams" in addition to a variety of financial literacy publications.
- OCC Update for May - July 2009
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)
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
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 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
- 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.
- 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
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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.
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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.
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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.
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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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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.
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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.
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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.
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The SBA's
7(a) Loan Program: A Flexible Tool for Commercial Lenders 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.
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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.
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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).
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