New FDIC Investment Vehicle Will Support MDIs, CDFIs

A new investment vehicle designed by the Federal Deposit Insurance Corp. will let financial institutions and other organizations provide capital to insured Minority Depository Institutions and Community Development Financial Institutions that will then request funding through a “pitch process.”

Bank Deposit Surge Continued in 2021

The deposit surge that began in the early days of the pandemic continued this year, according to the FDIC’s annual report on bank deposits, with Massachusetts seeing a 34 percent since 2019.