Statement of Policy Regarding Minority Depository Institutions
FDIC · other · Published 2021-06-23 · Effective 2021-08-23 · 86 FR 32728
Document
Document number
2021-12972
Federal Register citation
86 FR 32728
Type
Rule
Action
Final statement of policy.
Category
other
Agency
US Federal Deposit Insurance Corporation
Publication date
2021-06-23
Effective date
2021-08-23
Abstract
The FDIC is issuing its Statement of Policy Regarding Minority Depository Institutions. Section 308 of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 established several goals related to encouraging, assisting, and preserving minority depository institutions. The FDIC has long recognized the unique role and importance of minority depository institutions and historically has taken steps to preserve and encourage minority-owned and minority-led financial institutions. The Statement of Policy updates, strengthens, and clarifies the agency's policies and procedures related to minority depository institutions.