Jun 16, 2021
WASHINGTON, D. C. – Today, the National Bankers Association (NBA) responded to the FDIC’s revised policy statement on preserving and promoting Minority Depository Institutions (MDIs).
The National Bankers Association (NBA) applauds the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) for its recent Statement of Policy aimed at enhancing the agency’s efforts to preserve and protect Minority Depository Institutions (MDIs). It’s been thirty years since the current federal statute was enacted. Yet, much work remains to reverse the significant damage to minority communities and the steady decline of minority-owned banks. This SOP is an essential step in the right direction toward accomplishing the critical purposes of the statute. The NBA looks forward to bank examiners increasing their understanding of the unique operating environments associated with our member institutions’ economically distressed communities. We urge leaders of the prudential regulators to emphasize the current law’s mandate of collaboration and encouragement in the regulatory treatment of our banks, which have remained focused on achieving their missions while maintaining safe and sound institutions that protect the hard-earned resources of our customers.