ICBA urges agency collaboration to support underserved communities

Dec. 19, 2022

ICBA encouraged the Treasury Department’s newly formed Interagency Community Investment Committee to promote agency collaboration as it works to support access to affordable capital and financial services in historically underserved communities.

ICBA Comments: In a comment letter, ICBA said:

  • Agency collaboration will be essential to optimizing federal programs.

  • Consistent guidance will help community banks serve unbanked and underbanked customers.

  • Because data collection is burdensome, the ICIC should explore data that is already being captured.

  • Agencies should convene private and public stakeholders to develop strategies for serving underserved areas.