Report to Congress on Preserving and Promoting Minority Depository Institutions

Summary

The OCC’s Minority Depository Institutions (MDI) report to Congress is submitted to comply with section 367 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd–Frank Act). As amended by the Dodd–Frank Act, section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) directs the Comptroller of the Currency to report on actions taken to carry out section 308. Section 308 describes goals for preserving MDIs and directs the Secretary of the Treasury to consult with the Comptroller and chairpersons of the Board of Governors of the Federal Reserve System (FRB), the National Credit Union Administration, and the Federal Deposit Insurance Corporation (FDIC) on methods for best achieving these goals.