Supporting these institutions is fundamental to our overall supervisory responsibilities for ensuring a safe, sound, and competitive banking system that also protects consumers. We have consistently provided ongoing assistance, through our regulatory, supervisory, and community development functions, to address the unique challenges and needs of minority-owned banks, while at the same time holding them to the high standards of supervisory performance.
The Federal Reserve has tapped the expertise at the Federal Reserve Bank of Philadelphia to spearhead development of a proactive training and technical assistance program for minority-owned depository institutions.