Community Development Corporation and Project Investments and Other Public Welfare Investments

Zusammenfassung

The Office of the Comptroller of the Currency (OCC) is proposing to revise its regulation governing national bank investments designed primarily to promote the public welfare. The revisions clarify banks' authority under this part; renumber and reorganize the regulation; provide the OCC greater flexibility for determining whether investments primarily promote the public welfare; and simplify the regulation's investment self-certification and prior approval processes. The proposed revisions reduce regulatory burden and inconsistencies while enhancing the ability of national banks to make public welfare investments.