WASHINGTON: The Federal Deposit Insurance Corporation (FDIC) and the National Bankers Association (NBA) today announced a new joint series of podcasts that will showcase public- and private-sector efforts to preserve and promote Minority Depository Institutions (MDIs) and advance diversity and inclusion across financial services.
“Banking on Inclusion,” a special series of the FDIC Podcast, will discuss the important role of minority-owned and -operated institutions within the broader financial services sector. Mission-driven banks, which include MDIs and Community Development Financial Institutions (CDFIs), are critical to the minority, low- and moderate-income (LMI), and rural communities they serve where families often lack access to financial services.
“The FDIC is honored to collaborate with the National Bankers Association yet again to promote the work of mission-driven banks and the communities that depend on them,” said FDIC Chairman Jelena McWilliams.
“We are excited to continue our collaboration with the FDIC on increasing the understanding of the unique issues facing MDIs today,” said NBA President and CEO Nicole Elam. “We couldn’t be more thankful to Chairman McWilliams for her support in our efforts to capitalize, modernize, and strengthen minority-owned and -operated banks.”
The new podcast series is part of an ongoing collaboration between FDIC and NBA to raise topics impacting our nation’s minority-owned and -operated banks. Chairman McWilliams recently joined NBA Chairman Robert E. James, II, and NBA President and CEO Nicole Elam in a virtual forum, “Advancing Diversity and Inclusion Across Financial Services”, to discuss these issues.
The FDIC announced last November the creation of a new office to support the agency’s ongoing strategic and direct engagement with MDIs, CDFIs and other mission-driven banks. Through initiatives such as the Mission-Driven Bank Fund, the Office of Minority and Community Development Banking will further encourage private sector investments in LMI communities.