Agency celebrates first new MDI national bank in 15 years; hope for more to come

The first new minority depository institution (MDI) national bank created in 15 years was awarded late Monday by their federal regulator, the agency said, forming a woman-owned and led institution.

According to the Office of the Comptroller of the Currency (OCC), Agility Bank, N.A., of Houston, Texas, will provide financial services access to under-resourced and underserved consumers.

“Agility exemplifies the best of what MDIs have to offer and provides critical access to affordable banking products and services to small and midsize businesses,” said Acting Comptroller of the Currency Michael Hsu. “These potential engines of growth for communities remain a focus area for MDIs nationwide.”

Hsu asserted that the new MDI will provide “valuable banking services that will promote financial prosperity for women and the broader community.” He said that is particularly important in Houston, which he said “is considered one of the most diverse cities in the U.S. and has a significant number of residents who are unbanked.”

The acting comptroller said that while Agility is the first de novo MDI national bank in 15 years, he is hopeful it will not be the last. “We are seeing increased interest in MDIs and hope that today’s event represents the beginning of a trend,” he said.

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