External Outreach and Minority Affairs:
Minority-Owned National Bank (MONB) Initiative
Supporting the principles of Section 308 of FIRREA, the OCC launched the Minority-Owned National Bank Initiative (also referred to as the MONB Initiative) in FY 2007. The Initiative, led by Midsize and Community Bank Supervision, functions to fulfill the OCC's objective of developing, implementing strategies that, through high quality bank supervision and outreach, will enable minority-owned national banks to:
- operate in a safe and sound manner,
- serve the banking needs of their communities, and
- preserve their minority-owned status.
This objective is closely aligned with not only FIRREA but also the OCC's Policy Statement on Minority-Owned National Banks. Through the Initiative, the OCC plans to meet this objective by:
- assessing current agency efforts to meet the needs of minority-owned national banks,
- assessing the needs of minority-owned national banks,
- utilizing internal and external generated information to focus OCC's supervisory training and outreach activities, and
- reassessing activities and performance to adjust to the changing needs of minority-owned national banks.
Periodic updates on the Minority-Owned National Bank Initiative will be provided on the EOMA Internet page and via OCCnet.
OCC Home Page > EOMA > Minority-Owned National Bank Initiative
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