On May 12, 2022, Acting Comptroller of the Currency Michael J. Hsu spoke at the Asian Real Estate Association of America Diversity and Fair Housing Summit where he discussed the OCC’s efforts to support fair housing access for all by addressing barriers to diversity and inclusion and expanding minority homeownership access.
In his remarks, Hsu talked about how OCC is committed to expanding diversity and inclusion for all consumers and at all levels of banking. Hsu discussed the steps that banks and the OCC are taking to address the disproportionate impact of COVID-19 to minority homebuyers. Hsu also talked about Project REACh, a project which aims to reduce barriers to minority homeownership, and the progress of the project’s workstreams.
Before closing, Hsu also briefly discussed the growth of digital assets. Hsu is concerned by the hype and the risk consumers face with this trend. Thus, the OCC is working to ensure that all consumers have access to reliable financial information and education. In line with this, the OCC is conducting a series of discussions called OCC Financial Health: Vital Signs.
A copy of Hsu’s remarks can be found here.