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OCC Issues Newsletter on Public Welfare Investments in Wind Energy Developments

Friday, November 1, 2013 - 7:00AM

The Office of the Comptroller of the Currency (OCC) today issued the new issue of its Community Development Insights online newsletter that shows how national banks and federal savings associations can use public welfare investment authority to invest in wind energy developments. The newsletter, titled “Investing in Wind Energy Using the Public Welfare Investment Authority,” describes how banks and federal savings associations may invest in wind energy facilities if the investment primarily benefits low- and moderate-income individuals/areas, or other areas targeted by a governmental entity for redevelopment, or if the investment would receive consideration as a “qualified investment” under 12 CFR 25.23 of the Community Reinvestment Act (CRA). More information can be found in the public welfare investments resource directory at www.occ.gov.

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