ICBA sent a letter to the Office of the Comptroller of the Currency regarding its proposed rule to rescind or amend certain regulations that it deems are unnecessary. ICBA noted that the proposal would remove references to minority- and women-owned entities from the OCC’s public welfare investment rule.

ICBA said it has serious concerns about how this change would negatively impact Minority Depository Institutions and urged the OCC to retain MDIs in the examples of permissible public welfare investments.