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 CRA Officer Training Workshop (Birmingham, AL - November 10, 2009)
  The OCC, Federal Reserve Bank of Atlanta, FDIC, and OTS are hosting a CRA Officer Training Workshop in Birmingham, Alabama on November 10, 2009. The workshop is designed for CRA officers of small and intermediate small banks and will focus on: (1) providing up-to-date information about developing a CRA strategy; (2) forming partnerships with community stakeholders; (3) determining qualified community development lending, services, and investments; (4) assessing community credit and financial services needs; and (5) assessing the bank's CRA Performance Context. In addition, regulators will provide best practice examples of partnerships and initiatives used by other banks to carry out their CRA objectives. To register, click here.

What's New in Community Affairs

• Protect Your Identity Week (NR 2009-124) OCC supports Protect Your Identity Week (PYIW), October 17 - 24, 2009, an initiative that brings focus to the PYIW National campaign web site and community events aimed at identity theft protection and education. OCC has produced several brochures on identity theft protection, including "Phishing" and "You Have the Power to Stop Identity Theft," questions and answers, and other online resources.
  
  
• 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.
  
  
• Financial Literacy Update - October/November 2009 (PDF)
  The OCC's sixth 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.
  
  

Recently Released Publications

	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.