Aug 29 - The Office of the Comptroller of the Currency has published the latest edition of its Community Development Investments newsletter entitled “Extending Credit in Indian Country: How Banks Use Federal Programs to Promote Economic Development.”
This issue reviews current economic conditions in Indian Country, presents examples of how national banks and federal savings associations can use federal programs to lend and invest in this market, and provides a primer on Community Reinvestment Act implications for OCC-regulated institutions that seek to do business in Indian Country.
“While doing business on sovereign Indian lands may present some challenges, there are incentives that make investing and lending in Indian Country a profitable proposition,” said Comptroller of the Currency Thomas J. Curry. “By presenting examples of how some institutions have experienced success working with Native communities, we hope that national banks and federal savings associations will pursue opportunities in these markets.”
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 Indian Country. 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 Indian Country may contact their OCC District Community Affairs Officers, who are located throughout the nation.
Click here for the newsletter.