FDIC chairman announces new subcommittee, roundtables for minority depository institutions

A new subcommittee and new series of roundtables focused on business practices and opportunities for minority depository institutions (MDIs) were announced by the head of the federal bank deposit insurer Tuesday during an interagency conference in Arlington, Va.

The new subcommittee to the (FDIC) Advisory Committee on Community Banking is intended to provide a new platform for MDIs to exchange best practices, agency Chairman Jelena McWilliams told those attending the 2019 Interagency Minority Depository Institution and CDFI Bank Conference.

McWilliams said the roundtables will put MDIs and other FDIC-supervised institutions together to promote collaborative opportunities, such as direct investments and deposits in MDIs. The agency said it also will continue to provide technical assistance to MDIs, including to groups seeking to organize new MDIs and to existing MDIs seeking to acquire failing institutions.

FDIC release