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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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FDIC sets process for MDI applications

The FDIC has issued FIL-24-2022 to announce a process for an insured institution or applicant for deposit insurance to make a request that the FDIC recognize the institution as a minority depository institution. The process conforms to the FDIC's June 15, 2021, Statement of Policy Regarding Minority Depository Institutions,

  • FDIC supervised institutions or applicants for deposit insurance that seek to be recognized as an MDI may submit a written request, signed by a duly authorized officer or representative of the institution or applicant, at any time to the appropriate regional office.
    • Institutions may also submit a request in connection with a merger application or a change in control notice.
    • The request should contain sufficient information in support of the designation.
  • If the submitted documentation indicates that the institution or applicant has met the eligibility requirements, the FDIC will send a letter acknowledging recognition of the institution as an MDI.
    • The letter will describe the resources available through the MDI Program.
    • The institution or applicant should maintain documentation supporting its continued eligibility for the MDI designation.
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