December 22, 2017

FDIC: Resource Guide Highlights Collaborative Opportunities with Minority Depository Institutions

The Federal Deposit Insurance Corporation (FDIC) today issued a resource guide that underscores ways insured depository institutions, including community banks, can partner with minority depository institutions (MDIs) to the benefit of all institutions involved, as well as the communities they serve.

The resource guide also notes that banks may realize business and regulatory benefits from partnerships and other collaborative relationships with MDIs. Collaboration among MDIs or between MDIs and non-MDIs can provide viable options for sound and profitable lending and investments in underserved communities. In many cases, institutions engaging in collaborative activities and partnerships with MDIs may receive Community Reinvestment Act (CRA) consideration for such activities.

The resource guide also provides contact information for FDIC staff who are available to assist institutions contemplating a collaborative arrangement with an MDI.

This post was originally published here.