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Financial Services Law Insights and Observations

FDIC proposes revisions to MDI statement of policy

Federal Issues FDIC Supervision Minority Depository Institution

Federal Issues

On August 21, the FDIC approved a proposed statement of policy, which updates and clarifies the agency’s policies and procedures related to Minority Depository Institutions (MDIs). Among other things, the proposed statement of policy outlines the efforts the agency has undertaken and will continue to take to “preserve and promote” MDIs. Additionally, the proposal defines the program terms for technical assistance, training, educations, and outreach. Finally, the proposal includes a description of the FDIC’s examination rating system for MDIs. Comments on the proposal will be due 60 days after publication in the Federal Register.

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