WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced the launch of REACh 2.0 at the Project REACh Financial Inclusion Summit.
Project REACh, the Roundtable for Economic Access and Transformation, brings together leaders from the banking industry, national civil rights organizations, business, and technology to identify barriers to full, equal, and fair participation in the nation’s economy. , has been reduced.
“Through Project REACh, more than 100,000 credit-blind people have gained access to credit and more than $500 million has been invested in minority depository institutions,” said Michael J., Acting Comptroller of the Currency.・Sue said. “As we address additional barriers to full, equal and fair participation in the nation’s economy, we have made structural changes to Project REACh to strengthen our efforts and enable us to take advantage of new opportunities. .”
In REACh 2.0, workgroups replace workstreams and focus on place-based initiatives. Underserved and disadvantaged populations. Technology; tools, products, services, etc. Existing REACh projects will be migrated to the new working group.
“This new approach gives us greater agility to tackle broader efforts that not only address barriers but also accelerate solutions to financial inclusion,” said Hsu.
