An initiative designed to identify and reduce barriers to “full, equal, and fair” participation in the nation’s economy was launched in Dallas Monday by the Office of the Comptroller of the Currency (OCC), the agency said.
Acting Comptroller Michael J. Hsu joined civic leaders, community advocates, bankers, and business leaders in launching launch Project REACh, the Roundtable for Economic Access and Change. Dallas REACh is the agency’s fourth regional effort, the OCC said.
“While many obstacles to financial well-being and prosperity are national in scope, barriers can be unique at the local level. We are excited to expand our efforts into the Dallas community, supporting local leaders, banks, and businesses as they discuss needs and work to address impediments to financial inclusion,” Hsu said in a statement.
The agency said Dallas REACh will organize and initiate formal efforts to reduce financial barriers that include low rates of affordable homeownership, poor access to capital for minority-owned and small businesses, and underinvestment into trusted community institutions, such as minority depository institutions.