FACA Committee Purpose & Justification The information in this plan was imported from the Federal Advisory Committee Act (FACA) database and transformed into StratML Part 1, Strategic Plan, format. Fiscal Year:2011 Committee Type: Non Scientific Program Advisory Board OTS Minority Depository Institutions Advisory Committee TRES 0a1e033b-5563-44c7-aaa8-abced7fe8f88 [ Location : (http://stratml.fido.gov/dick/TRESFACA34765.xml) ] [ Federated Name : (urn:www.ustreas.gov:agency:66:committee:34765:) ] [ Agency Name : (Department of the Treasury) ] [ Agency Acronym : (TRES) ] [ Agency Domain : (www.ustreas.gov) ] [ Agency Web Site : (http://www.ustreas.gov/ ) ] [ Committee Name : (OTS Minority Depository Institutions Advisory Committee) ] [ Committee Type : (Non Scientific Program Advisory Board) ] [ Committee Web Site : (http://www.ots.treas.gov/?p=MDIAC) ] [ Goal? : (yes) ] [ Vision? : (yes) ] [ Mission? : (yes) ] Department of the Treasury http://www.ustreas.gov/ http://www.ots.treas.gov/?p=MDIAC Each member serves as a representative of his or her institution, industry, trade group, or other organization or group. The OTS ensure that diverse views are represented by assuring that the committee is composed of officers and directors of minority depository institutions, investors in minority depository institutions, non-governmental entities, community groups, and others with an interest in minority depository institutions. The Committee provides the Office of Thrift Supervision (OTS) with advice and information on the current circumstances and future development of minority depository institutions, in accordance with the mandate in section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), Pub. L. No. 101-73, Title III, 103 Stat. 353, 12 U.S.C. § 1463 note. Section 308 requires OTS to preserve the present number of minority depository institutions, preserve the minority character of minority depository institutions in cases involving mergers or acquisitions, provide technical assistance, and encourage the creation of new minority depository institutions. 78d4c946-cfc5-4b4f-b238-3d1061ea24f8 The Committee provides advice to the Office of Thrift Supervision (OTS) on meeting the goals established by section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), Pub. L. No. 101-73,Title III, 103 Stat. 353, 12 U.S.C. § 1463 note, to preserve the present number of minority institutions, preserve the minority character of minority owned institutions in cases involving mergers or acquisitions, provide technical assistance, and encourage the creation of new minority depository institutions.The Committee assesses the current condition of minority depository institutions, what regulatory changes or other steps OTS may be able to take to fulfill the mandate of section 308, and other issues of concern to OTS-supervised minority depository institutions. e03f8581-f210-404a-9dfb-f65a80c555e3 In August 2010, there were 16 minority-owned thrifts regulated by OTS. The decrease reflects the adverse impact of current economic conditions on minority depository institutions, which generally some of the hardest hit low-to-moderate income areas and individuals. The OTS continues to seek the Committee’s perspectives on challenges faced by minority depository institutions and their suggestions on how to address those challenges and increase the number of minority thrifts. OTS also recognizes the need to provide technical assistance to ensure safety and soundness in minority depository institutions, particularly during this difficult economic period. e3102b97-0297-4551-bb9c-b9919bee5c3b 43e72a74-837d-4f4e-adc4-ee1d15ceea64 42e274b8-285d-4f13-b684-423a77380273 2010-10-01 2011-09-30 2013-07-09 http://explore.data.gov/resource/datasets/c5i3-bb9j Gannon (J.) Dick gannon_dick@yahoo.com