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Better Markets Issues Comment Letter on the FDIC's Proposed Statement of Policy Regarding Minority Owned Depository Institutions

On Nov. 24, 2020, Better Markets filed a comment letter on the FDIC’s proposed, updated statement of policy regarding minority depository institutions (MDIs). MDIs serve a crucial role in bringing financial services to chronically underserved communities, particularly communities of color. The FDIC has a statutory duty to preserve and support these institutions, and we applaud the agency for proposing certain positive changes in this statement of policy.