NCUA Board Statements on Minority Depository Institutions

Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC

NCUA's Board Statements on Minority Depository Institutions & Final Policy Statement

This transcript explores statements made by the NCUA's Board on Minority Depository Institutions (MDIs), outlining recent changes within the institution. It discusses the final interpretive ruling and policy statement transfer of the MDI preservation program administration to its Office of Credit Union Resources. This action aims to better enable numerous MDI credit unions, through updated program features and clarified requirements, to meet their communities' needs. It then explores statements from Board members regarding the importance of preserving MDIs, the challenges they face, and the potential strength they can bring to underserved communities. The board approves this final policy statement as a vital step towards enabling MDI to play their role in closing the wealth gap and bringing equity in lending.

00:00 Introduction and Sponsorship
00:55 Board Action Bulletin on M D Is
01:56 Chairman Todd Harper's Statement
05:06 Vice Chairman Kyle Hauptman's Statement
08:44 Board Member Tanya Otsukas Statement
14:39 Conclusion and Contact Information