SBA: Five New Women’s Business Centers Announced and to be Operated by Minority Serving Institutions
The latest SBA investment triples the number of Women’s Business Centers at HBCUs in support of women entrepreneurs Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, announced the selection of five new Women’s Business Centers (WBC) operated by established Minority Serving…
OCC: Acting Comptroller Presents Bank Charter to Minority Depository Institution, Agility Bank, N.A. in Houston
Acting Comptroller of the Currency Michael J. Hsu today presented a full-service community national bank charter to Agility Bank, N.A. in Houston. The woman-owned and -led bank is the first new minority depository institution (MDI) national bank in 15 years. Typically, MDIs serve economically challenged communities traditionally underserved by the banking industry and other businesses….
FDIC: New Process Established for Minority Depository Institution Designation Announced
On June 15, 2021, the Federal Deposit Insurance Corporation (FDIC) Board of Directors approved an updated Statement of Policy Regarding Minority Depository Institutions (Policy Statement), which details the framework by which the FDIC implements the goals set forth in Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). The Policy Statementdescribes the FDIC’s…
FDIC: Hawaiian Banker Named to Minority Depository Institutions Subcommittee
The Federal Deposit Insurance Corporation (FDIC) today announced Russell Lau, the Chairman and Chief Executive Officer of Finance Factors, Ltd in Honolulu, is the newest member of the agency’s Minority Depository Institutions (MDI) Subcommittee to the Advisory Committee on Community Banking. The FDIC’s MDI Subcommittee serves as a source of feedback for FDIC strategies to…
OCC: Acting Comptroller Discusses Expanding Diversity and Inclusion, Minority Homeownership
Acting Comptroller of the Currency Michael J. Hsu today discussed the Office of the Comptroller of the Currrency’s efforts to reduce barriers to homeownership and promote financial inclusion in remarks at the Asian Real Estate Association of America Diversity and Fair Housing Summit. The Acting Comptroller highlighted the work of Project REACh to support affordable homeownership, expand…
OCC: Discussion Series on Financial Health Launched
The Office of the Comptroller of the Currency (OCC) today announced the launch of a discussion series to explore issues relating to the financial wellbeing of consumers. The Financial Health: Vital Signs series will feature discussions with Acting Comptroller of the Currency Michael J. Hsu and academic, community and industry leaders on issues affecting the…
HUD: New Civil Rights Guidance Issued on Marketing and Application Requirements for Subsidized Multifamily Properties
Guidance designed to inform inclusive marketing and application practices of multifamily housing The U.S. Department of Housing and Urban Development (HUD) Office of Fair Housing and Equal Opportunity (FHEO) today released new guidance to reinforce requirements that HUD-subsidized multifamily housing’s marketing and application processes be designed to be inclusive of persons of all races and…
OCC: Project REACh Efforts Launched in Milwaukee
Acting Comptroller of the Currency Michael J. Hsu today joined civic and community advocates, bankers, and business leaders to launch Milwaukee REACh. The Office of the Comptroller of the Currency (OCC)’s Project REACh, the Roundtable for Economic Access and Change, brings together leaders from the banking industry, civil rights organizations, business, and technology to identify…
HUD: First Ever Equity Action Plan Released
The U.S. Department of Housing and Urban Development (HUD) on Thursday released its first ever Equity Action Plan in coordination with the Biden-Harris Administration’s whole-of-government equity agenda. “Equity is central to HUD’s founding principles and the daily work we do as a Department,” said Secretary Marcia L. Fudge. “We are excited to take this opportunity to join…