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Federal Register / Vol. 86, No. 118 / Wednesday, June 23, 2021 / Rules and Regulations agencys efforts in achieving the goals of Section 308.
During the 1990s, many MDIs continued to underperform industry averages for profitability and experience failure rates that were significantly higher than those of the industry overall. In order to discuss the challenges that MDIs faced, and identify best practices and possible ways the regulatory agencies could promote and preserve MDIs, the FDIC and other banking regulatory agencieswith assistance from several minority bank trade associationsinvited officers from 156 MDIs to participate in a Bankers and Supervisors Regulatory Forum held in March of 2001. Approximately 70 bankers attended.
The FDIC also formed an Interdivisional Working Group to consider measures to modernize the policies and procedures related to MDIs.
The working group incorporated many suggestions from the March 2001 forum into a revised Policy Statement Regarding Minority Depository Institutions, issued by the FDIC, after notice and comment, in April of 2002
2002 Policy Statement.2 The FDIC
issued the 2002 Policy Statement to provide additional information regarding the FDICs initiatives related to Section 308. The 2002 Policy Statement provided a more structured framework that set forth initiatives of the FDIC to promote the preservation of, as well as to provide technical assistance, training, and educational programs for, MDIs by working with those institutions, their trade associations, and the other federal financial regulatory agencies.
Over the years, the FDIC has continued to modify and enhance its MDI program to better carry out the FDICs efforts to meet the goals in Section 308 of FIRREA. The revisions in the proposed Statement of Policy are intended, in part, to strengthen and improve the various aspects of the MDI
program and how each component of the MDI program is carried out by various responsible entities that are part of the MDI program. The proposed revisions to the 2002 Policy Statement reflected in the proposed Statement of Policy describe the FDICs enduring and strengthened commitment to, and engagement with, MDIs in furtherance of its goal of preserving and promoting MDIs.
In 2019, the FDIC established a new MDI Subcommittee of the Advisory Committee on Community Banking CBAC. The MDI Subcommittee held its inaugural meeting in December 2019.
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There are nine executives serving as members of the MDI Subcommittee, representing African American, Native American, Hispanic American, and Asian American MDIs across the country. The MDI Subcommittee provides recommendations regarding the FDICs MDI program to the CBAC for consideration. The MDI Subcommittee serves as a source of feedback with regard to the FDICs efforts to fulfill its statutory goals to preserve and promote MDIs; provides a platform for MDIs to promote collaboration, partnerships, and best practices; and identifies ways to highlight the work of MDIs in their communities.
The FDIC published, also in 2019, an MDI research study, which explores changes in MDIs, their role in the financial services industry, and their impact on the communities they serve.3
The study period covered 2001 to 2018
and looked at the demographics, structural change, geography, financial performance, and social impact of MDIs.
Additionally, to discuss the challenges that MDIs face, provide information on best practices, and collaborate on possible ways the regulatory agencies can promote and preserve MDIs, in June of 2019, the FDIC hosted the Interagency MDI and Community Development Financial Institution CDFI Bank Conference, Focus on the Future: Prospering in a Changing Industry, in collaboration with the Office of the Comptroller of Currency and the Board of Governors of the Federal Reserve System. More than 80 MDI and CDFI bankers, representing 61 banks, attended the two-day conference.4
All of these various efforts by the FDIC to enhance its MDI program have informed the proposed revisions to the Statement of Policy. The FDIC has received suggestions from bankers at outreach and trade association meetings as well as feedback from the June 2019
conference. The MDI Subcommittee has also provided feedback to the CBAC for consideration and recommendation to the FDIC. Many of these suggestions and feedback have been incorporated into the revised Statement of Policy. The following section summarizes the significant changes from the 2002 Policy Statement.
3 See FDIC MDI research study, published June 2019, Minority Depository Institutions: Structure, Performance, and Social Impact, https
www.fdic.gov/regulations/resources/minority/2019mdi-study/full.pdf.
4 See Chairman Jelena McWilliams Keynote Remarks, MDI and Community Development Financial Institution bank conference, Focus on the Future: Prospering in a Changing Industry Mar. 3, 2020, https www.youtube.com/
watch?v=o0H6Ko00qTk&feature=youtu.be.

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II. The Revised Policy Statement A. Proposed Revisions On September 25, 2020, the FDIC
published in the Federal Register proposed revisions to its MDI Policy Statement.5 The FDIC proposed changes in the following seven areas:
Technical assistance and other engagement. The proposed Statement of Policy clarified that technical assistance is not a supervisory activity and is not intended to present additional regulatory burden. Further, the proposed Statement of Policy stated that examination teams will not view requests for, or acceptance of, technical assistance negatively when evaluating institution performance or assigning ratings.
FDIC outreach. The proposed Statement of Policy was updated to provide additional outreach opportunities, including with the Chairmans office and the National Director for Minority and Community Development Banking.
MDI Subcommittee. The proposed Statement of Policy described the newly established FDIC MDI Subcommittee of the CBAC, which serves as source of feedback on FDIC strategies to fulfill statutory goals to preserve and promote MDIs. The MDI Subcommittee may also make recommendations or offer ideas to the CBAC for consideration and presentation to the FDIC. The MDI
Subcommittee provides a platform for MDIs to promote collaboration, partnerships, and best practices. The MDI Subcommittee also identifies ways to highlight the work of MDIs in their communities.
Definitions. The proposed Statement of Policy added definitions for terms used in the MDI program: Technical assistance; training and education; and outreach. Technical assistance is defined as individual assistance that a regulator will provide to a MDI in response to an institutions request for assistance in addressing specific areas of concern. The proposed Statement of Policy also noted that technical assistance is a tool to provide on-going support to institutions in an effort to facilitate timely implementation of recommendations, full understanding of regulatory requirements, and in some instances, the viability of the institution.
Training and education programs consist of instruction designed to impart proficiency or skills related to a particular job, process, or regulatory policy. This training and education can be provided in person, through webinars or conference calls, or in a 5 85

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