60402 Federal Register / Vol. 85, No. 187 / Friday, September 25, 2020 / Proposed Rules
1 Public Law 101–73, title III, § 308, Aug. 9, 1989,
103 Stat. 353, as amended by Public Law 111–203,
title III, § 367(4), July 21, 2010, 124 Stat. 1556,
codified at 12 U.S.C. 1463 note.
shall request and retain the monitoring
information required by Regulation B of
the Bureau of Consumer Financial
Protection (12 CFR part 1002).
§ 338.8 Compilation of loan data in register
format.
FDIC-supervised institutions and
other lenders required to file a Home
Mortgage Disclosure Act loan
application register (LAR) with the
Federal Deposit Insurance Corporation
shall collect, record and report such
LAR in accordance with Regulation C of
the Bureau of Consumer Financial
Protection (12 CFR part 1003).
§ 338.9 Mortgage lending of a controlled
entity.
Any bank which refers any applicants
to a controlled entity and which
purchases any covered loan as defined
in Regulation C of the Bureau of
Consumer Financial Protection (12 CFR
part 1003) originated by the controlled
entity, as a condition to transacting any
business with the controlled entity,
shall require the controlled entity to
enter into a written agreement with the
bank. The written agreement shall
provide that the entity shall:
(a) Comply with the requirements of
§§ 338.3, 338.4, and 338.7, and, if
otherwise subject to Regulation C of the
Bureau of Consumer Financial
Protection (12 CFR part 1003), § 338.8;
(b) Open its books and records to
examination by the Federal Deposit
Insurance Corporation; and
(c) Comply with all instructions and
orders issued by the Federal Deposit
Insurance Corporation with respect to
its home loan practices.
PART 390—REGULATIONS
TRANSFERRED FROM THE OFFICE OF
THRIFT SUPERVISION
■ 2. The authority citation for part 390
is revised to read as follows:
Authority: 12 U.S.C. 1819.
Subpart F also issued under 5 U.S.C. 552;
559; 12 U.S.C. 2901 et seq.
Subpart O also issued under 12 U.S.C.
1828.
Subpart Q also issued under 12 U.S.C.
1462; 1462a; 1463; 1464.
Subpart W also issued under 12 U.S.C.
1462a; 1463; 1464; 15 U.S.C. 78c; 78l; 78m;
78n; 78p; 78w.
Subpart Y also issued under 12 U.S.C.
1831o.
Subpart G—[Removed and Reserved]
■ 3. Remove and reserve subpart G,
consisting of §§ 390.140 through
390.150.
Federal Deposit Insurance Corporation.
By order of the Board of Directors.
Dated at Washington, DC, on August 21,
2020.
James P. Sheesley,
Acting Assistant Executive Secretary.
[FR Doc. 2020–18813 Filed 9–24–20; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Chapter III
RIN 3064–ZA19
Statement of Policy Regarding Minority
Depository Institutions
AGENCY: Federal Deposit Insurance
Corporation (FDIC).
ACTION: Proposed revisions to statement
of policy; request for comment.
SUMMARY: The FDIC is proposing to
revise its Statement of Policy Regarding
Minority Depository Institutions.
Section 308 of the Financial Institutions
Reform, Recovery and Enforcement Act
of 1989 established several goals related
to encouraging, assisting, and preserving
minority depository institutions. The
FDIC has long recognized the unique
role and importance of minority
depository institutions and has
historically taken steps to preserve and
encourage minority-owned and
minority-led financial institutions. The
revised Statement of Policy updates,
strengthens, and clarifies the agency’s
policies and procedures related to
minority depository institutions.
DATES: Written comments must be
received on or before November 24,
2020.
ADDRESSES: Interested parties are
encouraged to submit written
comments. Commenters are encouraged
to use the title ‘‘Statement of Policy
Regarding Minority Depository
Institutions’’ to facilitate the
organization and distribution of
comments. You may submit comments,
identified by RIN 3064–ZA19, by any of
the following methods:
• Agency Website: https://
www.fdic.gov/regulations/laws/federal/.
Follow the instructions for submitting
comments on the FDIC’s website.
• Email: comments@fdic.gov. Include
RIN 3064–ZA19 in the subject line of
the message.
• Mail: Robert E. Feldman, Executive
Secretary, Attention: Comments/Legal
ESS, Federal Deposit Insurance
Corporation, 550 17th Street NW,
Washington, DC 20429.
Instructions: Comments submitted
must include ‘‘FDIC’’ and ‘‘RIN 3064–
ZA19.’’ Comments received will be
posted without change to https://
www.fdic.gov/regulations/laws/federal/,
including any personal information
provided.
FOR FURTHER INFORMATION CONTACT:
Misty Mobley, Senior Review Examiner,
Division of Risk Management and
Supervision, (202) 898–3771,
mimobley@fdic.gov; Lauren Whitaker,
Senior Attorney, Legal Division, (202)
898–3872, lwhitaker@fdic.gov; or
Gregory Feder, Counsel, Legal Division,
(202) 898–8724, gfeder@fdic.gov,
Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC
20429. For the hearing impaired only,
TDD users may contact (202) 925–4618.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Background
II. Revisions to the Proposed Statement of
Policy
III. Proposed Statement of Policy Regarding
Minority Depository Institutions
IV. Administrative Matters
I. Background
Section 308 of the Financial
Institutions Reform, Recovery, and
Enforcement Act of 1989 (FIRREA) 1
established several goals related to
minority depository institutions (MDIs):
(1) Preserving the number of MDIs; (2)
preserving the minority character in
cases of merger or acquisition; (3)
providing technical assistance to
prevent insolvency of institutions not
now insolvent; (4) promoting and
encouraging creation of new MDIs; and
(5) providing for training, technical
assistance, and education programs.
On April 3, 1990, the Board of
Directors of the Federal Deposit
Insurance Corporation (FDIC Board and
FDIC, respectively) adopted the Policy
Statement on Encouragement and
Preservation of Minority Ownership of
Financial Institutions (1990 Policy
Statement). The framework for the 1990
Policy Statement resulted from key
provisions contained in Section 308 of
FIRREA. The 1990 Policy Statement
provided information to the public and
minority banking industry regarding the
agency’s 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
VerDate Sep<11>2014 18:00 Sep 24, 2020 Jkt 250001 PO 00000 Frm 00014 Fmt 4702 Sfmt 4702 E:\FR\FM\25SEP1.SGM 25SEP1
khammond on DSKJM1Z7X2PROD with PROPOSALS
1 Public Law 101–73, title III, § 308, Aug. 9, 1989,
103 Stat. 353, as amended by Public Law 111–203,
title III, § 367(4), July 21, 2010, 124 Stat. 1556,
codified at 12 U.S.C. 1463 note.
shall request and retain the monitoring
information required by Regulation B of
the Bureau of Consumer Financial
Protection (12 CFR part 1002).
§ 338.8 Compilation of loan data in register
format.
FDIC-supervised institutions and
other lenders required to file a Home
Mortgage Disclosure Act loan
application register (LAR) with the
Federal Deposit Insurance Corporation
shall collect, record and report such
LAR in accordance with Regulation C of
the Bureau of Consumer Financial
Protection (12 CFR part 1003).
§ 338.9 Mortgage lending of a controlled
entity.
Any bank which refers any applicants
to a controlled entity and which
purchases any covered loan as defined
in Regulation C of the Bureau of
Consumer Financial Protection (12 CFR
part 1003) originated by the controlled
entity, as a condition to transacting any
business with the controlled entity,
shall require the controlled entity to
enter into a written agreement with the
bank. The written agreement shall
provide that the entity shall:
(a) Comply with the requirements of
§§ 338.3, 338.4, and 338.7, and, if
otherwise subject to Regulation C of the
Bureau of Consumer Financial
Protection (12 CFR part 1003), § 338.8;
(b) Open its books and records to
examination by the Federal Deposit
Insurance Corporation; and
(c) Comply with all instructions and
orders issued by the Federal Deposit
Insurance Corporation with respect to
its home loan practices.
PART 390—REGULATIONS
TRANSFERRED FROM THE OFFICE OF
THRIFT SUPERVISION
■ 2. The authority citation for part 390
is revised to read as follows:
Authority: 12 U.S.C. 1819.
Subpart F also issued under 5 U.S.C. 552;
559; 12 U.S.C. 2901 et seq.
Subpart O also issued under 12 U.S.C.
1828.
Subpart Q also issued under 12 U.S.C.
1462; 1462a; 1463; 1464.
Subpart W also issued under 12 U.S.C.
1462a; 1463; 1464; 15 U.S.C. 78c; 78l; 78m;
78n; 78p; 78w.
Subpart Y also issued under 12 U.S.C.
1831o.
Subpart G—[Removed and Reserved]
■ 3. Remove and reserve subpart G,
consisting of §§ 390.140 through
390.150.
Federal Deposit Insurance Corporation.
By order of the Board of Directors.
Dated at Washington, DC, on August 21,
2020.
James P. Sheesley,
Acting Assistant Executive Secretary.
[FR Doc. 2020–18813 Filed 9–24–20; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Chapter III
RIN 3064–ZA19
Statement of Policy Regarding Minority
Depository Institutions
AGENCY: Federal Deposit Insurance
Corporation (FDIC).
ACTION: Proposed revisions to statement
of policy; request for comment.
SUMMARY: The FDIC is proposing to
revise its Statement of Policy Regarding
Minority Depository Institutions.
Section 308 of the Financial Institutions
Reform, Recovery and Enforcement Act
of 1989 established several goals related
to encouraging, assisting, and preserving
minority depository institutions. The
FDIC has long recognized the unique
role and importance of minority
depository institutions and has
historically taken steps to preserve and
encourage minority-owned and
minority-led financial institutions. The
revised Statement of Policy updates,
strengthens, and clarifies the agency’s
policies and procedures related to
minority depository institutions.
DATES: Written comments must be
received on or before November 24,
2020.
ADDRESSES: Interested parties are
encouraged to submit written
comments. Commenters are encouraged
to use the title ‘‘Statement of Policy
Regarding Minority Depository
Institutions’’ to facilitate the
organization and distribution of
comments. You may submit comments,
identified by RIN 3064–ZA19, by any of
the following methods:
• Agency Website: https://
www.fdic.gov/regulations/laws/federal/.
Follow the instructions for submitting
comments on the FDIC’s website.
• Email: comments@fdic.gov. Include
RIN 3064–ZA19 in the subject line of
the message.
• Mail: Robert E. Feldman, Executive
Secretary, Attention: Comments/Legal
ESS, Federal Deposit Insurance
Corporation, 550 17th Street NW,
Washington, DC 20429.
Instructions: Comments submitted
must include ‘‘FDIC’’ and ‘‘RIN 3064–
ZA19.’’ Comments received will be
posted without change to https://
www.fdic.gov/regulations/laws/federal/,
including any personal information
provided.
FOR FURTHER INFORMATION CONTACT:
Misty Mobley, Senior Review Examiner,
Division of Risk Management and
Supervision, (202) 898–3771,
mimobley@fdic.gov; Lauren Whitaker,
Senior Attorney, Legal Division, (202)
898–3872, lwhitaker@fdic.gov; or
Gregory Feder, Counsel, Legal Division,
(202) 898–8724, gfeder@fdic.gov,
Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC
20429. For the hearing impaired only,
TDD users may contact (202) 925–4618.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Background
II. Revisions to the Proposed Statement of
Policy
III. Proposed Statement of Policy Regarding
Minority Depository Institutions
IV. Administrative Matters
I. Background
Section 308 of the Financial
Institutions Reform, Recovery, and
Enforcement Act of 1989 (FIRREA) 1
established several goals related to
minority depository institutions (MDIs):
(1) Preserving the number of MDIs; (2)
preserving the minority character in
cases of merger or acquisition; (3)
providing technical assistance to
prevent insolvency of institutions not
now insolvent; (4) promoting and
encouraging creation of new MDIs; and
(5) providing for training, technical
assistance, and education programs.
On April 3, 1990, the Board of
Directors of the Federal Deposit
Insurance Corporation (FDIC Board and
FDIC, respectively) adopted the Policy
Statement on Encouragement and
Preservation of Minority Ownership of
Financial Institutions (1990 Policy
Statement). The framework for the 1990
Policy Statement resulted from key
provisions contained in Section 308 of
FIRREA. The 1990 Policy Statement
provided information to the public and
minority banking industry regarding the
agency’s 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
VerDate Sep<11>2014 18:00 Sep 24, 2020 Jkt 250001 PO 00000 Frm 00014 Fmt 4702 Sfmt 4702 E:\FR\FM\25SEP1.SGM 25SEP1
khammond on DSKJM1Z7X2PROD with PROPOSALS
60403Federal Register / Vol. 85, No. 187 / Friday, September 25, 2020 / Proposed Rules
2 67 FR 18618 (Apr. 16, 2002).
3 See FDIC MDI research study, published June
2019, Minority Depository Institutions: Structure,
Performance, and Social Impact, https://
www.fdic.gov/regulations/resources/minority/2019-
mdi-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, https://
www.youtube.com/watch?v=o0H6Ko00qTk&
feature=youtu.be.
best practices and possible ways the
regulatory agencies could promote and
preserve MDIs, the FDIC and other
banking regulatory agencies—with
assistance from several minority bank
trade associations—invited 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 FDIC’s 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
FDIC’s 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 FDIC’s 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.
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 FDIC’s MDI Program to the CBAC for
consideration. The MDI Subcommittee
serves as a source of feedback with
regard to the FDIC’s 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.
II. Revisions to the Policy Statement
The FDIC is proposing to revise its
MDI Policy Statement in the following
areas:
Technical assistance and other
engagement. The proposed Statement of
Policy clarifies that technical assistance
is not a supervisory activity and is not
intended to present additional
regulatory burden. Further, the
proposed Statement of Policy states 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
Chairman’s office and the National
Director for Minority and Community
Development Banking.
MDI Subcommittee. The proposed
Statement of Policy describes 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.
1. The FDIC requests comment on
other methods to identify and provide
engagement opportunities that would be
beneficial to MDIs.
Definitions. The proposed Statement
of Policy adds 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 institution’s request for
assistance in addressing specific areas of
concern. The proposed Statement of
Policy also notes 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
conference setting. Outreach consists of
FDIC representatives meeting with
financial institutions with a primary
focus of building relationships and open
communication and providing
information and resources. Outreach is
generally offered by the FDIC and can
include meetings between financial
institution management and senior FDIC
management.
VerDate Sep<11>2014 18:00 Sep 24, 2020 Jkt 250001 PO 00000 Frm 00015 Fmt 4702 Sfmt 4702 E:\FR\FM\25SEP1.SGM 25SEP1
khammond on DSKJM1Z7X2PROD with PROPOSALS
2 67 FR 18618 (Apr. 16, 2002).
3 See FDIC MDI research study, published June
2019, Minority Depository Institutions: Structure,
Performance, and Social Impact, https://
www.fdic.gov/regulations/resources/minority/2019-
mdi-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, https://
www.youtube.com/watch?v=o0H6Ko00qTk&
feature=youtu.be.
best practices and possible ways the
regulatory agencies could promote and
preserve MDIs, the FDIC and other
banking regulatory agencies—with
assistance from several minority bank
trade associations—invited 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 FDIC’s 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
FDIC’s 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 FDIC’s 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.
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 FDIC’s MDI Program to the CBAC for
consideration. The MDI Subcommittee
serves as a source of feedback with
regard to the FDIC’s 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.
II. Revisions to the Policy Statement
The FDIC is proposing to revise its
MDI Policy Statement in the following
areas:
Technical assistance and other
engagement. The proposed Statement of
Policy clarifies that technical assistance
is not a supervisory activity and is not
intended to present additional
regulatory burden. Further, the
proposed Statement of Policy states 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
Chairman’s office and the National
Director for Minority and Community
Development Banking.
MDI Subcommittee. The proposed
Statement of Policy describes 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.
1. The FDIC requests comment on
other methods to identify and provide
engagement opportunities that would be
beneficial to MDIs.
Definitions. The proposed Statement
of Policy adds 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 institution’s request for
assistance in addressing specific areas of
concern. The proposed Statement of
Policy also notes 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
conference setting. Outreach consists of
FDIC representatives meeting with
financial institutions with a primary
focus of building relationships and open
communication and providing
information and resources. Outreach is
generally offered by the FDIC and can
include meetings between financial
institution management and senior FDIC
management.
VerDate Sep<11>2014 18:00 Sep 24, 2020 Jkt 250001 PO 00000 Frm 00015 Fmt 4702 Sfmt 4702 E:\FR\FM\25SEP1.SGM 25SEP1
khammond on DSKJM1Z7X2PROD with PROPOSALS