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Last update: 10/20/14

ICBA Policy Resolutions for 2014
Track I: Legislation and Regulation

MINORITY BANKS

Position

  • ICBA strongly supports the promotion, creation, preservation and ownership of minority financial institutions as supported by Section 308 of the Financial Institution Reform Recovery Enforcement Act (FIRREA).

  • ICBA’s Minority Bank Council helps to shape ICBA advocacy and solutions that benefit minority banks and the communities they serve.

  • ICBA works closely with federal banking agencies and federal programs to improve responsiveness to minority bank needs and concerns.

Background

Minority banks play a unique role serving as catalysts for economic growth and revitalization in the neighborhoods they serve. These banks often play a critical role in otherwise underserved communities. It is crucial that minority banks have the financial and regulatory support they need to stay operational and profitable.

There are more than 175 federally-insured minority banks serving low-income and minority communities in urban, rural and suburban areas across the country.

In recognition that minority banks are an important and unique segment of the community banking industry, ICBA formed the Minority Bank Council in 2010 to help shape ICBA advocacy and education solutions that benefit minority banks and the communities they serve.

Staff Contacts: Kianga Lee

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