FDIC Launches Mission-Driven Bank Fund with $120 Million

The Federal Deposit Insurance Corporation (FDIC) is standing up the Mission-Driven Bank Fund to help mission-driven banks, FDIC-insured minority depository institutions (MDIs) and Community Development Financial Institutions (CDFIs), that support low- and moderate-income, minority and rural communities. As of September 2021, the fund has two anchor investors and one founding investor who have committed a total of $120 million with additional investments expected.