On March 27, Acting Comptroller of the Currency Rodney Hood delivered remarks at a conference, emphasizing his commitment to financial inclusion for underserved communities. He described financial inclusion as a civil rights challenge and highlighted the importance of access to financial services, credit and financial literacy. Hood discussed the role of small businesses in economic development and the potential of financial technology to enhance financial inclusion. He addressed the challenges of affordable homeownership, noting the disparity between income growth and rising home prices and mortgage rates. Hood mentioned the OCC’s Project REACh, which aims to foster financial inclusion through collaboration among banking, civil rights, and community leaders, focusing on affordable homeownership, small business support, technology, and geographic-specific efforts. Finally, Hood announced the restructuring of an OCC office of External Relations and Strategic Partnerships to drive these efforts, emphasizing the need to promote economic opportunity and mobility.
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