Heads of OCC, FDIC Highlight Efforts to Close Racial Wealth Gap

S&P Global
Wednesday, June 16, 2021

Top regulators and leading Democrats at a June 15 conference emphasized their commitment to increasing financial services access for the underbanked and supporting minority depository institutions, or MDIs. Heads of the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency attended the conference hosted by Georgetown Law and the Black Economic Alliance, commemorating Juneteenth. Both leading regulators expressed a desire to stay committed to closing wealth gaps and addressing racial inequity through the banking system. Top Democrats in Congress also spoke at the conference about their own efforts to address inequality, including a renewed call for public banking. On a related note, the FDIC on June 15 approved a final policy statement to help promote minority-owned banks