Today, the Office of the Comptroller of the Currency’s (OCC) released a paper entitled “An Opportunity for Community Banks: Working Together Collaboratively.” In the paper the OCC’s express it’s views for collaborative efforts by community banks to pool or share resources to reduce costs and leverage specialized expertise. In the paper the OCC discusses ways for community banks to work together with their peers to lower expenses, obtain compliance, and compare products and services. The OCC believes, “as diverse as community banks are, they share the same commitment to supporting the communities they serve. With this in mind, the OCC sees an opportunity for community banks to share resources and expertise to the mutual benefit of all involved.”
