OCC published last month.3 The principle behind this approach, which grew out of productive and on-going discussions between the OCC and our community banks, is that by pooling resources, community banks can manage regulatory requirements, trim costs and serve customers who might otherwise lie beyond their reach. We have already seen examples of successful collaboration, such as community banks forming an alliance to bid on larger loan projects and banks pooling resources to finance community development activities. There are many other opportunities of this nature, which can increase efficiencies and save money. As noted in our paper, these include collaboration on accounting, clerical support, data processing, employee benefit planning, and health insurance – to name just a few. Our innovative community banks can undoubtedly find other ways to share resources in a safe and sound manner. V. Conclusion Community banks are essential to our nation’s communities and small businesses.

The OCC is committed to minimizing unnecessary regulatory burden for these institutions. We will continue to carefully consider the potential effect that current and future policies and regulations may have on community banks and will be happy to work with the Committee on any proposed legislative initiatives. 3                                                               An Opportunity for Community Banks: Working Together Collaboratively, Jan. 13, 2015. 14   .