The FDIC announced that today it will introduce an online tool to help financial institutions, investors, and other interested groups to identify neighborhoods that could benefit from banking services.
FDIC to unveil online tool to promote creation of minority banks
November 06, 2024 / By ICBA
The FDIC announced that today it will introduce an online tool to help financial institutions, investors, and other interested groups to identify neighborhoods that could benefit from banking services.
The FDIC announced that today it will introduce an online tool to help financial institutions, investors, and other interested groups to identify neighborhoods that could benefit from banking services.
Details: According to the FDIC, the Minority Banking Opportunity Explorer:
Will be presented at today’s FDIC Advisory Committee on Community Banking Minority Depository Institutions Subcommittee meeting.
Supports the FDIC’s statutory mission to promote and encourage the creation of new minority depository institutions by assisting financial institution organizing groups with exploring potential business opportunities in areas that may meet the "community served" part of an MDI designation.
Can support existing MDIs’ growth by identifying new branch locations or advertising opportunities.
Today’s Meeting: The public portion of today’s MDI Subcommittee meeting will be webcast on the FDIC website starting at 1 p.m. (Eastern time) today.
New Publication: The FDIC recently published the first edition of MDI Program Newslink, a new quarterly newsletter that shares updates on MDIs.
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