11.2.21
On November 2, the Federal Deposit Insurance Corporation (FDIC) announced it is launching the Office of Minority and Community Development. The new office is aimed at reinforcing the agency’s efforts to provide more capital to minority-owned banks and community development financial institutions (CDFIs). Additionally, further promoting private investments in low-income communities. FDIC Chair Jelena McWilliams said in the press release, “By establishing the Office of Minority and Community Development Banking, we expand our engagement and collaboration in support of these institutions as part of a broader commitment to increasing financial inclusion.”