We aim to help MDIs in three ways: by finding ways to ease your regulatory burden, by sponsoring valuable and actionable research on your contributions to your communities, and by seeking to better support you through outreach and hands-on technical assistance. To achieve these goals, the Fed has developed an extensive outreach program, the Partnership for Progress (PFP).
The PFP helps MDIs confront business model challenges, cultivate safe banking practices, and compete more effectively in the marketplace—all topics that I expect will be addressed today. Regulatory Burden One of the most important ways to help MDIs is by reducing regulatory burden.