FDIC Releases Study on Minority Depository Institutions
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The
In relation to the 6,730
While the report notes that MDIs underperform non-MDI institutions in terms of standard industry measures of financial performance, it concludes that these organizations often promote the economic viability of minority and underserved communities, that is, populations that are underserved by mainstream financial institutions. The study found that MDIs have much to show for their efforts in reaching these populations. Compared with community banks, the markets served by MDI offices include a higher share of population living in low- or moderate-income (LMI) census tracts, as well as a higher share of minority populations. In addition, among institutions that reported data under the Home Mortgage Disclosure Act (HMDA), MDIs originated a larger share of their mortgages to borrowers who live in LMI census tracts and to minority borrowers than did non-MDI community banks. These findings demonstrate the essential role MDIs play in their local communities and their high level of commitment to the populations they serve.
The MDI study furthers the research work that the
A discussion of the study will be on the agenda of the next
Established in
The meeting is open to the public. A webcast of the meeting will be available on the
Attachment: Minority Depository Institutions: Structure, Performance and Social Impact (http://www.fdic.gov/bank/analytical/quarterly/2014_vol8_3/mdi_study.pdf)
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