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Financial Institution Letter

Minority Depository Institutions Expanded Guidelines for Providing Technical Assistance to Minority Depository Institutions

July 17, 2008
Notes
 
Summary: The Federal Deposit Insurance Corporation (FDIC) continues to pursue strategies to preserve and encourage minority ownership of FDIC-insured financial institutions, including providing technical assistance in operational areas. The FDIC has expanded its guidance on providing technical assistance to minority depository institution (MDI) management to enhance ongoing communication with and support of MDIs. The revised guidance is attached.

Highlights:

  • Under established guidelines, the FDIC routinely contacts MDIs to offer return visits and technical assistance following examinations or visits to assist management in understanding and implementing examination recommendations.
  • The FDIC has expanded these guidelines by clarifying the types of technical assistance that may be available to MDIs, and emphasizing that MDIs may initiate the contact with the FDIC for technical assistance at any time .
  • The focus of the technical assistance is to provide MDIs with recommendations or feedback for improving operations, not to identify new problems or issues.
  • The offer of technical assistance is targeted to insured minority depository institutions in which 51 percent or more of the voting stock is owned by minority individuals (Black American, Asian American, Hispanic American or Native American), or the majority of the board of directors are minority individuals and the community served by the institution is predominantly minority-based.

Distribution:
FDIC-Supervised Minority Depository Institutions
(Commercial and Savings)

Suggested Routing:
Board of Directors
Chief Executive Officer
Compliance Officer

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2008/index.html .

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html .

Paper copies of FDIC financial institution letters may be obtained via the FDIC's Public Information Center (1-877-275-3342 or 703-562-2200).



Additional Related Topics:

  • FIL-34-2002, "FDIC Adopts Final Policy Statement
  • on Minority Depository Institutions"
FIL-66-2008
Attachment(s)
Guidance for Providing Technical Assistance to Minority Depository Institutions

Last Updated: July 17, 2008