William Allen

June 2026 Board of Governors of the Federal Reserve System Office of the Comptroller of the Currency Federal Deposit Insurance Corporation Re: Comment on Proposed Revisions to Bank Capital Requirements Dear Regulators: My name is William Allen, a lifelong Harlem resident and member of Manhattan Community Board 10, representing Central Harlem. Having dedicated much of my life to community service, I understand how important access to affordable credit is for families, homeowners, and small businesses. The Federal Reserve, OCC, and FDIC's proposed revisions to bank capital requirements are a welcome step towards helping expand access to affordable credit. I appreciate the agencies for issuing a proposal that recognizes the need to ensure a safe and resilient banking system while also expanding access to credit. By simplifying the capital framework, eliminating duplicative requirements, and recalibrating certain risk measures, the proposal takes an important step toward ensuring banks can better serve the communities that depend on them. For neighborhoods like Harlem, access to credit directly affects economic opportunity. Families rely on affordable loans to purchase new vehicles, manage unexpected expenses, and invest in their futures. Small businesses depend on bank financing to expand, create jobs, and strengthen local economies. As a result, the proposal will free up capital that banks can use to invest in families and small businesses, rather than keeping it locked away to satisfy overly burdensome requirements. The proposal's mortgage-related reforms are especially encouraging. By creating a more balanced approach to mortgage lending and servicing, the agencies can help banks play a larger role in the housing market. This will increase competition and give prospective homebuyers more lending options. This is particularly important for first-time and working-class homebuyers seeking a pathway to homeownership. I also support efforts to better align U.S. capital requirements with international standards. American banks already maintain strong capital positions, and a more balanced framework can help improve competitiveness while continuing to protect financial stability. Thank you for your time. I now urge you to move forward with this proposal to help provide critical economic relief for communities through Harlem, New York, and the country. Respectfully submitted, Dr. William Allen Community Board 10 Central Harlem, New York