On November 5, the FDIC announced plans to launch the Minority Banking Opportunity Explorer, an online tool designed to help financial institutions, investors, and other stakeholders identify neighborhoods that could benefit from banking services. The FDIC expects the tool to promote the creation of new Minority Depository Institutions (MDIs) and support existing MDIs in identifying new branch locations and advertising opportunities. The tool will be introduced at the FDIC’s MDI subcommittee meeting on November 6, which will be webcast live and available on-demand two weeks later.
