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Minority Depository Institutions Program
Preservation and Promotion of Minority Depository Institutions
The Federal Deposit Insurance Corporation Report to Congress for 2022

Preservation and Promotion of Minority Depository Institutions
The Federal Deposit Insurance Corporation Report to Congress for 2022

Pursuant to Section 367 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and Section 308 of the Financial Institutions Reform, Recovery and Enforcement Act of 1989.


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Cover Art for 2022 MDI Report to CongressSection 308 of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) established the following goals: to preserve the number of minority depository institutions; to preserve the minority character in cases involving merger or acquisition of a minority depository institution; to provide technical assistance to help prevent insolvency of minority depository institutions; to promote and encourage creation of new minority depository institutions; and to provide for training, technical assistance, and educational programs for minority depository institutions.

Pursuant to Section 367 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, this report provides a summary profile of minority depository institutions (MDIs) as of the end of 2019; a description of the FDIC’s MDI program; and detailed information on the FDIC’s 2019 initiatives supporting MDIs. The FDIC defines an MDI as (1) any federally insured depository institution where 51 percent or more of the voting stock is owned by minority individuals; or (2) where a majority of the Board of Directors is minority and the community that the institution serves is predominantly minority. Ownership must be by U.S. citizens or permanent legal U.S. residents to be counted in determining minority ownership. The FDIC’s Statement of Policy Regarding Minority Depository Institutions provides additional information.


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