FOR IMMEDIATE RELEASE
September 30, 1996
Contact: Public Affairs
OCC Will Explore Ways to Extend Financial Services to Consumers Without Banking Relationships
CHICAGO, ILL. — Speaking before the annual convention of the Consumer Bankers Association, Comptroller of the Currency Eugene A. Ludwig today announced that the OCC will begin exploring ways to help build closer ties to the financial system for the 12.5 percent of American consumers without current banking relationships.
"Our goal is to act as a catalyst by collecting and sharing information so financial institutions can better design products and delivery methods to forge profitable relationships with those now unserved," said Mr. Ludwig.
To that end, the Comptroller announced the following actions:
According to a 1992 Federal Reserve survey of consumer finances, approximately 12 million American households — 12.5 percent of the families in this nation — do not have a checking or NOW account at any financial institution.
The Comptroller said that by taking actions such as the fee waiver and educational forum, the OCC hopes to encourage bankers to reach out to new markets and foster greater industry dialogue.
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