Comment Period on MDI Preservation Program Policy Statement Closes August 28

Stakeholders have until August 28 to submit comments on the NCUA’s proposed changes to the interpretive ruling and policy statement on the agency’s Minority Depository Institution Preservation Program. For more information or to submit a comment, please visit Regulations.gov.

The NCUA Board, at its June 22 meeting, unanimously approved the proposed changes that would amend Interpretive Ruling and Policy Statement 13-1, approved on June 18, 2015, to reflect the transfer of the MDI preservation program administration from the agency’s Office of Minority and Women Inclusion to its Office of Credit Union Resources and Expansion, update the program’s features, and clarify the requirements for a credit union to receive and maintain an MDI designation.

Proposed amendments to the interpretive ruling and policy statement also include incorporating recent program initiatives, providing examples of technical assistance an MDI may receive, establishing a new standard for MDIs to assess their designation periodically, and updating how the NCUA will review an MDI’s designation status, among other changes.

The proposal was published in the Federal Register on June 29, 2023, and has a 60-day comment period, ending August 28, 2023.