Meeting promotes access to capital in underserved areas

The OCC has reported that Acting Comptroller of the Currency Brian Brooks joined Senator Tim Scott and HUD Secretary HUD Ben Carson on Friday in Charleston, South Carolina, to raise awareness of investment and lending related to Opportunity Zones, which also may receive credit under the Office of the Comptroller of the Currency’s (OCC) new Community Reinvestment Act (CRA) rule. The event brought together approximately 50 bankers, developers, and advocates from throughout the mid-Atlantic region and featured presentations on projects already underway, as well as the potential for additional initiatives that can include participation by small community- and minority-owned banks serving the area. The event also included remarks by Senator Scott, Secretary Carson, and Acting Comptroller Brooks, as well as a robust roundtable discussion of CRA lending and investment relationships in underserved markets and opportunity zones.