The Office of the Comptroller of the Currency (OCC) today hosted a financial inclusion symposium at its headquarters in Washington, D.C., to mark the second anniversary of Project REACh.
The OCC’s Project REACh, or the Roundtable for Economic Access and Change, brings together leaders from the banking industry, national civil rights organizations, business, and technology to identify and reduce specific barriers that prevent underserved and minority communities from full, equal, and fair participation in the nation’s economy.
“With Project REACh entering its third year, I am pleased with participants’ enduring commitment to improving financial inclusion for minority communities and the most vulnerable,” said Acting Comptroller Michael J. Hsu. “The OCC is proud to continue convening a broad range of actors, as seen in this symposium, who are working together to reduce the barriers that prevent the American Dream from being accessible to all.”
More than 200 people attended the symposium, which kicked off with a fireside chat between Acting Comptroller Hsu and Director of the Federal Housing Finance Agency Sandra Thompson discussing the impact of affordable homeownership on economically disadvantaged communities. The event also featured panel discussions with Project REACh members sharing best practices and innovative concepts for expanding access to credit and capital for small businesses, providing affordable homeownership opportunities for minorities, and evaluating the use of alternative data sources to boost the creditworthiness of those without a traditional credit score.