OCC Policy Statement on Minority Depository Institutions

Samenvatting

The OCC is updating its policy statement on minority and depository institutions (MDI). This update is consistent with the criteria set out in the Executive Order titled, "Ensuring Lawful Governance and Implementing the President's `Department of Government Efficiency' Deregulatory Initiative." The updated statement aligns the policy statement more closely with the related statute, and it removes information that is vulnerable to obsolescence. The intended effect is for the agency to have a policy statement that remains accurate and supported by statute for years to come. At the same time, the update maintains the MDI designations of current MDI.