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OCC Encourages Collaboration for Community Banks

Posted on 1/14/2015

The OCC published a paper yesterday entitled "An Opportunity for Community Banks: Working Together Collaboratively." The paper describes how community banks can pool resources to obtain cost efficiencies and leverage specialized expertise.

"Community banks play an important role across the country supporting the financial needs of business, communities and families," said Comptroller of the Currency Thomas J. Curry. "But they face challenges in providing the competitive products and services their customers expect, while they compete with larger banks, credit unions, and nonbank firms that are expanding their banking activities. Collaboration can help unlock opportunities."

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