Marking one-year, OCC expands economic inclusion project to three more cities

Expansion to three cities of a project designed to bring diverse inclusion and participation in the economy was announced Friday by the regulator of national banks.

Acting Comptroller of the Currency Michael J. Hsu said the Office of the Comptroller of the Currency’s (OCC) “Project REACh” will be expanded to Washington, D.C., Dallas, and Detroit. The project kicked off last year in Los Angeles.

“REACh” stands for Roundtable for Economic Access and Change. According to OCC, the aim of the project is to bring together “a range of leaders to reduce specific barriers that prevent full, equal, and fair participation in the nation’s economy.”

“We are at a critical point in our nation where will and resolve match the need to act to reduce inequality,” Hsu said in a release. “While Project REACh is one of many initiatives addressing the legacy problems facing our society, it is unique in that it assembles leaders of civil rights and community groups, banks, and technology firms to work hand in hand to solve problems previously seen as intractable.”

Hsu said that, after one year, it is time to aim higher, such as by expanding the program’s regional exposure, and by developing “moonshot” goals for increasing participation over the next two years.

To mark the one-year anniversary of the program, OCC said it also published material providing greater detail regarding the work accomplished over the last 12 months.

OCC Marks the First Anniversary of Project Reach