Minority Banks:

GAO Survey of Minority Banks, an E-supplement to GAO-07-6

GAO-07-7SP: Published: Oct 4, 2006. Publicly Released: Oct 4, 2006.

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George A. Scott
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This document presents the results of GAO's 2006 survey of minority banks for all respondents. The purpose of the survey was to collect information primarily on four federal banking regulators'--Federal Deposit Insurance Corporation (FDIC), Comptroller of the Currency, Office of Thrift Supervision (OTS), and the Federal Reserve--efforts to support minority banks and related regulatory issues. Of the banking regulators, FDIC and OTS are required by Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to work towards preserving and promoting minority banks. Specifically, our survey asked minority banks about their awareness and usage of, as well as their satisfaction with, the regulators' minority bank efforts, including events for minority banks and the provision of technical assistance and training. The survey also asked about other regulatory issues, such as the examination process. The Web-based survey was made available to officials at all 195 minority banks as identified by GAO from information provided by the regulators, and the response rate was 76 percent. A more detailed discussion of our scope and methodology, a discussion of survey results for all respondents, and summary discussions of selected survey results for various subpopulations are contained in our report, Minority Banks: Regulators Need to Better Assess Effectiveness of Support Efforts (GAO-07-6). We conducted our Web-based survey from March through April 2006. We conducted our audit work in Washington, D.C. and New York from December 2005 to September 2006 in accordance with generally accepted government auditing standards.

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