S. 2397 would amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to preserve and expand minority depository institutions.

== Detailed Summary ==

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(Log inPreserving and Expanding Minority Depository Institutions Act - Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to editinclude the wikiChairman of the Board of Governors of the Federal Reserve System (Federal Reserve Board) and be the first to provideComptroller of the Currency among the persons with whom the Secretary of the Treasury must consult regarding methods for best preserving: (1) the present number of minority depository institutions; and (2) their minority character in cases involving mergers or acquisition of a detailed summaryminority depository institution.

Directs the Secretary of the bill!)Treasury, the Chairman of the Federal Reserve Board, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, and the Chairperson of the Federal Deposit Insurance Corporation each to submit an annual report to Congress describing actions taken with respect to the preservation and expansion of minority depository institutions.
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== Status of the Legislation ==

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(Log inLatest Major Action: 11/16/2007: Referred to edit the wikiSenate committee. Status: Read twice and be the firstreferred to update the status of the bill!)Committee on Banking, Housing, and Urban Affairs.
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== Points in Favor ==

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== Points Against ==

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