Any form of modernization of the Community Reinvestment Act must have measurable analysis of community value at the foundation, according to Jim Marous of The Financial Brand. A physical branch may not have any incremental value to a community — and in fact, may be detrimental — if it is open and empty, so long lending and investment in the community is strong. Costly, dormant overhead contributes little to local economies, and the OCC should recognize that. The Financial Brand
Bo Brustkern is fascinated by the developments in Web3 and crypto, and how they will interact with the embedded systems of traditional finance. He is co-founder & CEO of Fintech Nexus, and operates mainly from his office in Denver, Colorado, USA.