The Federal Reserve today clarified its guidance on how it defines minority depository institutions, and expanded its definition to include women-owned financial institutions.
Browsing: Minority depository institutions
The Treasury Department today announced that it will invest $9 billion in community development financial institutions and minority depository institutions through the newly established Emergency Capital Investment Program.
The FDIC today released a strategic plan outlining how it will focus its internal and external diversity, equity and inclusion efforts through 2023.
Historian Shennette Garrett-Scott tells the story of Maggie Lena Walker and her mission to help Black women find financial empowerment and professional career opportunities.
Speaking to the National Bankers Association, Federal Reserve Governor Lael Brainard today highlighted four new provisions specific to minority depository institutions in the Fed’s recent Community Reinvestment Act modernization proposal.
Financial innovation can deliver “tremendous benefits” to consumers and help minority depository institutions enhance participation in the mainstream financial system, FDIC Chairman Jelena McWilliams said today.
First Independence Bank was founded 50 years ago to help rebuild Detroit’s economy in the wake of damaging urban violence. Today, in a new era of economic hardship due to the coronavirus pandemic, and protests and unrest in response to incidents of racial injustice, minority depository institutions continue to have a unique role in serving distressed communities.
Financial performance among minority depository institutions remained sound through the end of 2019, according to the FDIC’s annual report on preserving and promoting MDIs.
ABA this morning announced a strategic partnership with the National Bankers Association to promote the health and well-being of minority depository institutions.