News Release 2022-17 | February 15, 2022
Acting Comptroller of the Currency Launches Project REACh Efforts in Detroit
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, and bankers to launch Detroit REACh.
The Office of the Comptroller of the Currency (OCC) launched Project REACh, the Roundtable for Economic Access and Change, to bring together leaders from the banking industry, civil rights organizations, business, and technology to identify and reduce barriers that prevent full, equal, and fair participation in the nation’s economy. Detroit REACh is the agency’s third regional effort.
“Project REACh convenes interested community stakeholders who are working together to remove barriers that limit full, fair and equal access by economically disadvantaged communities in our economy and financial system,” said Acting Comptroller Hsu. “Through expanding our local efforts into the Greater Detroit Community, we continue to provide the forum to support financial inclusion for hardworking Americans.”
Detroit REACh will organize and initiate formal efforts to promote greater access to affordable homeownership, enhance small business financing, and expand access to credit for economically disadvantaged and underserved communities in Detroit.
“Huntington is excited to be a part of Project REACh. We are proud to be a participating voice along with our community partners in the push to ensure Detroit’s diverse and under-resourced communities have equal access to financial inclusion in the nation’s economy,” said Gary Torgow, Chairman of the Board of Directors, Huntington National Bank. “As part of our affordable lending initiatives, we have developed products and programs with low down payment requirements, closing cost assistance, and flexible credit guidelines. Huntington has a longstanding commitment to Detroit, and we look forward to expanding our relationship with the city and its partners as part of Project REACh.”
“I know that we can make a positive impact on Detroiters and remove the barriers that underserved and economically disadvantaged communities encounter when trying to purchase a home or thrive in their businesses,” added Dina Harris, Founder and CEO of National Faith Homebuyers. “I look forward to working with the other REACh participants to bring more Detroit residents into the financial mainstream.”