FDIC Hosts Roundtable on Collaborations with Minority Depository Institutions — 2019-06-27

The Federal Deposit Insurance Corporation (FDIC) today hosted a roundtable with large FDIC-supervised banks and minority depository institutions (MDIs) to foster collaboration in support of the continued vibrancy of MDIs and their communities. “Collaborative partnerships among large banks and MDIs are critically important not only for individual insured institutions, but also for their communities and the vitality of the overall financial system,” said FDIC Chairman Jelena McWilliams. In December 2017, the FDIC published a resource guide that describes how insured depository institutions may realize business and regulatory benefits by developing partnerships and other collaborative relationships with MDIs. These partnerships can be strategic and beneficial for both large banks and MDIs. Earlier this week, the FDIC published a research study, Minority Depository Institutions: Structure, Performance, and Social Impact, that outlines the essential role MDIs play in serving low- and moderate-income (LMI) customers.