1
Remarks
by
Jelena McWilliams
Chairman, Federal Deposit Insurance Corporation
to
The National Bankers Association
92nd Annual Convention
Wednesday, October 2, 2019
Washington, D.C.
Good morning. Thank you for inviting me to join you today.
Let me start by congratulating you on your 92nd Annual Convention. You have served as the
voice of minority banks for more than nine decades – almost a century. That is a truly
remarkable accomplishment.
When I joined the FDIC as Chairman last year, I made it a priority to increase the agency’s
efforts to promote and preserve minority depository institutions (MDIs). The National Bankers
Association (NBA) has been a key partner in focusing our efforts and achieving our goals in this
area.
Kenneth Kelly joined the FDIC’s Advisory Committee on Community Banking last October, and
he has consistently brought forward the voice of minority bankers in that forum. Together with
the NBA leadership team, Kenneth and I have worked to identify and provide the tools and
resources MDIs need to be profitable and serve their communities.
Remarks
by
Jelena McWilliams
Chairman, Federal Deposit Insurance Corporation
to
The National Bankers Association
92nd Annual Convention
Wednesday, October 2, 2019
Washington, D.C.
Good morning. Thank you for inviting me to join you today.
Let me start by congratulating you on your 92nd Annual Convention. You have served as the
voice of minority banks for more than nine decades – almost a century. That is a truly
remarkable accomplishment.
When I joined the FDIC as Chairman last year, I made it a priority to increase the agency’s
efforts to promote and preserve minority depository institutions (MDIs). The National Bankers
Association (NBA) has been a key partner in focusing our efforts and achieving our goals in this
area.
Kenneth Kelly joined the FDIC’s Advisory Committee on Community Banking last October, and
he has consistently brought forward the voice of minority bankers in that forum. Together with
the NBA leadership team, Kenneth and I have worked to identify and provide the tools and
resources MDIs need to be profitable and serve their communities.
2
I have also met one-on-one with several NBA members, as well as other MDIs around the
country that are not active members of a minority trade group.
Their valuable input has informed the FDIC’s efforts to engage MDIs and promote collaboration
with the broader banking industry on the sharing of best practices. Let me briefly talk about
some of these initiatives.
In June, we welcomed 10 large banks and seven minority banks to Washington for what I
jokingly call a “speed dating” event. The large banks ranged in size from $9 billion to $108
billion. The minority banks included three NBA members. Each roundtable participant had
outlined in advance the types of partnerships they were seeking and, during the roundtable, MDIs
and large banks met one-on-one to explore partnership opportunities.
Following the roundtable, several large banks told us what a great opportunity it was to find
mutually beneficial partnerships, and how eager they were to start working with the MDIs and
help them have a bigger impact on their communities. One of the large banks drafted a proposal
to expand their partnerships beyond the seven MDIs at the June roundtable. One MDI reported
that it has partnered with three larger banks from the event. The partnership consisted of a
variety of technical assistance sessions regarding the MDI’s compliance and Community
Reinvestment Act (CRA) activities.
This is exactly the type of outcome we were hoping for, and the FDIC stands ready to serve as a
resource for any MDI that wants to partner with large banks – or any other bank that wants to
partner with MDIs – and has questions about next steps.
Based on the success of the June event, the FDIC is planning similar roundtables in Atlanta on
October 17 and in Chicago on November 7. To date, three NBA banks have registered for the
Atlanta event. Next year, we will host additional events in the Midwest and on the west coast.
One of the points we are emphasizing at our roundtables is that large banks can be considered for
credit under the CRA for partnering with MDIs. CRA officers at many larger institutions are not
I have also met one-on-one with several NBA members, as well as other MDIs around the
country that are not active members of a minority trade group.
Their valuable input has informed the FDIC’s efforts to engage MDIs and promote collaboration
with the broader banking industry on the sharing of best practices. Let me briefly talk about
some of these initiatives.
In June, we welcomed 10 large banks and seven minority banks to Washington for what I
jokingly call a “speed dating” event. The large banks ranged in size from $9 billion to $108
billion. The minority banks included three NBA members. Each roundtable participant had
outlined in advance the types of partnerships they were seeking and, during the roundtable, MDIs
and large banks met one-on-one to explore partnership opportunities.
Following the roundtable, several large banks told us what a great opportunity it was to find
mutually beneficial partnerships, and how eager they were to start working with the MDIs and
help them have a bigger impact on their communities. One of the large banks drafted a proposal
to expand their partnerships beyond the seven MDIs at the June roundtable. One MDI reported
that it has partnered with three larger banks from the event. The partnership consisted of a
variety of technical assistance sessions regarding the MDI’s compliance and Community
Reinvestment Act (CRA) activities.
This is exactly the type of outcome we were hoping for, and the FDIC stands ready to serve as a
resource for any MDI that wants to partner with large banks – or any other bank that wants to
partner with MDIs – and has questions about next steps.
Based on the success of the June event, the FDIC is planning similar roundtables in Atlanta on
October 17 and in Chicago on November 7. To date, three NBA banks have registered for the
Atlanta event. Next year, we will host additional events in the Midwest and on the west coast.
One of the points we are emphasizing at our roundtables is that large banks can be considered for
credit under the CRA for partnering with MDIs. CRA officers at many larger institutions are not