NDIA to Office of the Comptroller of the Currency: Let banks seek CRA credit for digital inclusion support

The National Digital Inclusion Alliance has asked the Office of the Comptroller of the Currency (“OCC”), the US Treasury Department agency which serves as the Federal regulator for many of the nation’s banks, to allow those banks to seek Community Reinvestment Act credit for their financial support of community digital inclusion programs serving low and moderate income (LMI) households in their lending areas. In the comments, NDIA Executive Director Angela Siefer said:

"NDIA strongly supports OCC treatment of digital literacy programs, such as those operated and supported by our affiliates in LMI communities throughout the US, as 'activities supporting community and economic development that qualify for CRA consideration'. But we urge the OCC to adopt a broader perspective regarding this issue, in two important respects: 1) NDIA regards access to digital literacy training as one of five key elements of 'digital inclusion', along with affordable, robust broadband internet service; affordable internet-enabled devices that meet the needs of the user; quality technical support; and applications and online content designed to enable and encourage self-sufficiency, participation and collaboration; 2) There’s a more direct reason for OCC to treat digital skills training, affordable device and broadband access services for residents of LMI communities as CRA-qualified activities: They enable underserved residents to adapt, like most Americans, to a banking market that increasingly relies on online and mobile channels rather than nearby branch locations to serve their 'convenience and needs'."