Community Affairs

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

Upcoming Events

• Interagency Community Reinvestment Conference (New Orleans, LA - March 14-18, 2009)
  The OCC, FDIC, OTS, the Federal Reserve Banks of Atlanta and San Francisco, and the CDFI Fund are co-sponsoring the biennial Community Reinvestment Conference on March 14-18, 2010 in New Orleans. The conference will feature: (1) CRA examination training, (2) review of innovations in community development investing, (3) discussion of creative strategies for community development, (4) the National Community Development Lending School, and (5) community tours. Click here for additional information.
  
  

What's New in Community Affairs

• Financial Literacy Update - February/March 2010 (PDF 99KB)
  The OCC's seventh 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.
  
  
• OCC Update August - October 2009 (PDF)
  The 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.
  
  
• OCC Releases Consumer Advisory: "Reverse Mortgages: Are They for You?" (NR 2009-115) The Office of the Comptroller of the Currency (OCC) issued a consumer advisory to help consumers better understand reverse mortgages. The information developed for consumers discusses basic facts about reverse mortgages.
  
  
• The OCC Receives NASLEF Leadership Award (NR 2009-113) The National Association of State and Local Equity Funds (NASLEF) presented its 2009 Leadership Award to the Office of the Comptroller of the Currency for its nationwide efforts to educate banks about the mechanics of Low-Income Housing Tax Credit investing. OCC's Deputy Comptroller for Community Affairs Barry R. Wides accepted the award on behalf of the agency. Click here to read remarks by Barry R. Wides, Deputy Comptroller of 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.
  
  

Recently Released Publications

	Neighborhood Stabilization: Local Partnerships Are Rebuilding Communities (Fall 2009) (NR 2009-147) features an overview of strategies that banks, nonprofit businesses and local government agencies have developed in response to the growing number of residential foreclosures. It includes the specific activities of selected national banks and their partners, and offers opportunities for others interested in supporting community stabilization. It also highlights a federal funding program and related national nonprofit infrastructure developed to facilitate the transition of real estate owned (REO) from financial institutions to the aspiring homeowners and nonprofits who can return them to the productive housing stock.
	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.