Acting Comptroller of the Currency Brian Brooks today hosted an “Access to Capital Forum” in Denver to promote investment and lending in underserved areas and to highlight activities supported by the Office of the Comptroller of the Currency’s (OCC) new Community Reinvestment Act (CRA) rule.
“Today, we brought together bankers, community developers, and advocates to work together to increase the amount of capital and credit flowing into underserved and minority communities across the country,” Acting Comptroller Brooks said. “Our work makes a meaningful difference and helps provide more equal access to financial services and resources that are abundant in other areas and to other people.”
This event focused on access to capital and investment in Indian Country and included presentations about opportunities and ongoing projects that could qualify for positive consideration under the OCC’s new CRA rule, released in May. The event brought together approximately 50 bankers, developers, and advocates from throughout Colorado and surrounding states.
The event was the second in a series of forums the Acting Comptroller of the Currency is hosting throughout the country to address unique regional needs and opportunities. The first event was hosted in Charleston, South Carolina, on July 17, 2020. That event focused on economic development created by the overlap between Opportunity Zones and CRA consideration where Opportunity Zone activities benefit low- and moderate-income areas and populations.
“I’d like to thank all of the participants in today’s event,” Mr. Brooks said. “We have a tremendous opportunity and responsibility to make a positive impact in our communities and ensure everyone has fair access to financial services and resources. We have seen amazing, transformative projects from bankers and community members, and as head of the OCC, I will work to encourage even more investment in the areas that need it most and continue to identify and work to reduce barriers that make those opportunities difficult.”
Presentations included a welcome from Chief Executive Officer of the Colorado Bankers Association Don Childears, remarks by Acting Comptroller Brooks, and a discussion of projects by Tom Ogaard, President of Native American Bank, and Scott Horton, Senior Vice President of Wells Fargo. Following the presentations, the audience participated in a robust roundtable discussion of opportunities.
The OCC publishes a variety of resources supporting community development and revitalization.