The Board of Governors of the Federal Reserve System has a statutory mandate to support the preservation and promotion of minority depository institutions (MDIs), alongside other federal agencies. The statutory mandate was established in section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 and inherited by the Board through the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

The Federal Reserve remains committed to meeting our statutory obligations under FIRREA and the Dodd-Frank Act. This is primarily done through the Partnership for Progress (PFP) program. PFP is a Federal Reserve System initiative dedicated to preserving and promoting MDIs and women's depository institutions (WDIs).

Key Resources

  • Supervision and Regulation letter 21-6/Consumer Affairs letter 21-4: Please see "Highlighting the Federal Reserve System’s Partnership for Progress Program for Minority Depository Institutions and Women’s Depository Institutions" for more information.
  • Annual Report to Congress: The Board submits this report pursuant to section 367 of the Dodd-Frank Act. This section requires the Board to submit an annual report to Congress detailing the actions taken to fulfill requirements outlined in section 308 of FIRREA, as amended by the Dodd-Frank Act.
  • Request certification: For Federal Reserve-supervised institutions, please complete this form to request certification as either an MDI or a WDI.
  • Latest list of MDIs: Each quarter, the Federal Reserve works with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency to populate and verify current data on MDIs.
  • Community Banking Connections: A Federal Reserve resource that guides, informs, and equips community bankers with vital knowledge and tools.
  • FedCommunities.org: A Federal Reserve resource hub connecting community development practitioners with research, data, tools, and programs to support economic mobility and financial health in communities.

Please contact phil.fedpartnership@phil.frb.org with any questions or comments.