FDIC establishes process for MDI designation
The FDIC outlined a new process by which banks may apply for designation as a minority depository institution.
Browsing: Minority depository institutions
National Bankers Association partners on program to help close the racial wealth gap
The National Bankers Community Alliance, the nonprofit arm of the National Bankers Association, launched a financial wellness program to help minority communities close the racial wealth gap.
ABA and banking groups ask Treasury for flexibility in scheduling ECIP closing dates
The American Bankers Association and several trade groups sent a joint letter to Treasury Secretary Janet Yellen, once again urging the agency to revise its regulatory treatment of Emergency Capital Investment Program investments.
New FDIC Reports Chart Continued Effect of Pandemic on Banks
Two reports released today by the FDIC provide data on consumer lending, deposit rates and branch closures in the wake of the COVID-19 pandemic.
ABA Raises Concerns With Treasury’s Emergency Capital Investment Program
The American Bankers Assocaition raised concerns today regarding documentation for the Treasury Department’s Emergency Capital Investment Program, a program aimed at helping community development financial institutions and minority depository institutions support access to capital in underserved communities.
Without ECIP Fix, Many Eligible CDFIs, MDIs Will Be Left Out of Key Investment Opportunity
Time is running out for the Federal Reserve to make a simple but critical fix to ensure infusions of funds reach disadvantaged communities.
Crypto, Stablecoins Top Rep. Waters’ Agenda for 2022
The House Financial Services Committee will increase its focus on cryptocurrencies, including stablecoins, in 2022, Committee Chairwoman Maxine Waters (D-Calif.) told attendees of the ABA Washington Summit today.
Jelena McWilliams on Her Legacy at the FDIC
As the FDIC chief prepared to resign before her term was up, she discussed the agency’s progress on innovation, financial inclusion and more.
Podcast: Exit Interview with Jelena McWilliams, Part 2
McWilliams discusses several policy aspects of her tenure at the FDIC, including climate risk, small-dollar lending, CRA reform and the Mission-Driven Bank Fund.
ABA, Groups Seek Changes to Support Sub S, Mutual Banks Receiving ECIP Investments
With the Treasury Department investing $8.7 billion in community development financial institutions and minority depository institutions through its Emergency Capital Investment Program, ABA and several other trade groups this week urged the Federal Reserve to revise quickly its regulatory treatment of ECIP investments to support the program’s success.