Minority-Owned Financial Institutions: Status of Federal Efforts to
Preserve Minority Ownership (Letter Report, 11/03/93, GAO/GGD-94-1).

GAO reviewed how four agencies--the Treasury Department, the Federal
Deposit Insurance Corporation, the Office of Thrift Supervision, and the
Resolution Trust Corporation--have implemented laws designed to preserve
minority ownership of financial institutions and to assist
minority-owned institutions and minority investors with acquiring failed
institutions.  Although the agencies have taken some steps to preserve
minority ownership of financial institutions, they have not assessed
whether these measures have been successful.  GAO believes that periodic
assessments of the effectiveness of the current approaches are essential
given the goals of the legislation and the mixed views of the minority
banking community on the agencies' efforts.  In addition, until the
agencies evaluate the effectiveness of their current approaches, they
remain vulnerable to the perception that they have not done enough to
preserve minority ownership of financial institutions.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  GGD-94-1
     TITLE:  Minority-Owned Financial Institutions: Status of Federal 
             Efforts to Preserve Minority Ownership
      DATE:  11/03/93
   SUBJECT:  Financial institutions
             Bank failures
             Minority businesses
             Minority business assistance
             Lending institutions
             Regulatory agencies
             Interagency relations
             Minority business set-asides
             Financial aid programs
IDENTIFIER:  RTC Minority Preference Resolution Program
             
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