Nov 19 - The Office of the Comptroller of the Currency has published the latest edition of its Community Developments Investments electronic newsletter titled, "Financing Business Development and Expansion in Rural America."
This newsletter provides an in-depth look at how banks are helping rural businesses grow and presents examples of banks helping to finance projects that expand manufacturing and bring services, goods, and jobs to rural communities. The newsletter also discusses the recent changes to the Interagency Community Reinvestment Act Questions and Answers that will provide banks greater flexibility to serve rural communities that are outside their assessment areas, but are in the broader statewide or regional area that includes their assessment areas.
“Banks and thrifts are stretching their financing capacity and reducing their risks by partnering with government agency programs,” said Comptroller of the Currency Thomas J. Curry. “Together, they are meeting community and business needs.”
This edition of Community Development Investments is part of a group of resources available to national banks and federal savings associations interested in exploring opportunities in rural America. These resources can be accessed on the OCC’s website at www.occ.gov.
OCC-regulated institutions that are interested in learning more about providing financial services in rural America may contact their OCC District Community Affairs Officers, who are located throughout the nation.
Click here to read the newsletter.