Regulatory Alerts2026-06-16
Minority Depository Institutions: Reissuance of Policy Statement
The Office of the Comptroller of the Currency (OCC) is updating its policy statement on Minority Depository Institutions (MDI) to align it more closely with the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) and to remove obsolete information. This update revises the MDI definition for national banks and Federal stock savings associations to require at least 51 percent ownership by socially and economically disadvantaged individuals, while also maintaining the MDI designations of currently recognized institutions. The revised policy, effective June 16, 2026, aims to ensure the agency's guidance remains accurate, statutorily supported, and consistent with current regulatory initiatives for years to come.
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