Fifth Third Bank Announces Participation in Office of the Comptroller’s Project REACh
15 Luglio 2021 - 10:05PM
Business Wire
Joining Initiative to Promote Greater Access to
Capital and Credit for Underserved Populations
Fifth Third Bank, National Association, today joined the Office
of the Comptroller of the Currency’s Project REACh initiative.
Project REACh (Roundtable for Economic Access and Change) is a
collaborative effort that involves leaders from banking, business,
technology, and national civil rights organizations to remove
structural barriers to financial inclusion and increase broader
participation in the national economy.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210715005963/en/
Greg Carmichael, chairman and CEO of
Fifth Third Bank (Photo: Business Wire)
“We are proud to work alongside the OCC in an effort to remove
barriers to financial inclusion and support our local communities
becoming stronger and more prosperous,” said Greg Carmichael,
chairman and CEO of Fifth Third Bank. “Financial inclusion is vital
to the well-being of the communities we serve and this effort
further bolsters Fifth Third’s work to accelerate racial equality
and inclusion.”
The OCC announced Project REACh in July 2020 with goals to:
• Reduce the number of people left behind because they lack
useful credit scores.
• Increase access to affordable housing.
• Support the vitality of minority depository institutions and
small businesses.
Project REACh aims to achieve several changes nationwide that
promote financial empowerment. The strategy will also implement
successful local projects that can serve as models for financial
inclusion, wealth building and addressing issues of financial
inequality in areas such as credit alternatives, affordable
housing, small business lending and supporting minority depository
institutions. Fifth Third has dedicated resources to address these
workstreams created by the OCC to drive positive change for its
customers. The OCC’s Project REACh aligns with the community and
advocacy workstreams from the Bank’s $2.8 billion Accelerating
Racial Equality Equity and Inclusion initiative. As part of this
work, the Bank recently invested an additional $2.5 million in
Detroit-based First Independence Bank. The move makes Fifth Third
the largest investor at a total of $5.5 million in the minority
depository institution and community development financial
institution (CDFI).
For More Information visit occ.gov/reach. To learn more about
Fifth Third’s Accelerating Racial Equality, Equity and Inclusion
initiative, visit www.53.com/racialequity.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio, and the indirect parent company
of Fifth Third Bank, National Association, a federally chartered
institution. As of March 31, 2021, Fifth Third had $207 billion in
assets and operated 1,098 full-service banking centers and 2,383
ATMs with Fifth Third branding in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia,
North Carolina and South Carolina. In total, Fifth Third provides
its customers with access to approximately 53,000 fee-free ATMs
across the United States. Fifth Third operates four main
businesses: Commercial Banking, Branch Banking, Consumer Lending
and Wealth & Asset Management. Fifth Third is among the largest
money managers in the Midwest and, as of March 31, 2021, had $464
billion in assets under care, of which it managed $58 billion for
individuals, corporations and not-for-profit organizations through
its Trust and Registered Investment Advisory businesses. Investor
information and press releases can be viewed at www.53.com. Fifth
Third’s common stock is traded on the Nasdaq® Global Select Market
under the symbol “FITB.” Fifth Third Bank was established in 1858.
Deposit and Credit products are offered by Fifth Third Bank,
National Association. Member FDIC.
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version on businesswire.com: https://www.businesswire.com/news/home/20210715005963/en/
Danielle Jones (Media Relations) Danielle.Jones@53.com |
513-534-0162 Chris Doll (Investor Relations)
Christopher.Doll@53.com | 513-534-2345
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