America's Mutual Banks Calls for Capitalizing and Chartering Mission Driven De Novo Mutual Banks

By Benzinga3 days ago

WASHINGTON, Feb. 23, 2021 (GLOBE NEWSWIRE) --

AMB Chairman Tom Fraser called on the private sector to step up its efforts to support mission ‎driven financial institutions. He stated, “Current banking laws, authorizing the chartering of FDIC ‎insured mutual banks, offer the ideal legal structure to fund initiatives to serve minority and rural ‎communities with traditional banking services not otherwise available to them.“ Nonetheless, no ‎new mutual bank has been ...

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