OCC launches Milwaukee REACh

Bank Regulatory Federal Issues OCC Consumer Finance Underserved

On April 20, the OCC announced the launch of Milwaukee REACh , which expands the OCC’s Project REACh (Roundtable for Economic Access and Change) efforts to Milwaukee, Wisconsin. As previously covered by InfoBytes, in 2020, the OCC launched this initiative to promote greater financial inclusion of underserved populations. According to the OCC, Project REACh brings together leaders from the banking industry, national civil rights organizations, and various businesses and technology organizations who will identify and reduce barriers to accessing capital and credit. Noting that “Milwaukee's residents face socioeconomic challenges including limited access to credit and capital and a lack of opportunity for affordable home ownership,” acting Comptroller Michael J. Hsu stated that Milwaukee REACh “will help address that and other barriers to financial inclusion.”