On June 28, the OCC’s Rodney Hood delivered remarks at a homebuyers fair in Detroit sponsored by Project REACh, a public-private collaboration intending to promote financial inclusion that the OCC launched in 2020. In the speech, Hood emphasized his view that financial inclusion was “a cornerstone of economic prosperity … ensur[ing that] individuals and communities have access to the resources needed to build wealth, invest in education, start businesses, and achieve homeownership.”
One of Project REACh’s critical areas of focus is affordable homeownership, with efforts aimed at addressing the challenges facing disadvantaged and underserved consumers in purchasing homes and encouraging the development of innovative products and services to improve access to credit. The agency noted that homeownership was not merely about possessing property, but about establishing roots, fostering community stability, and creating opportunities for generational wealth.
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