; and (B) for retaining and providing fair consideration for promotions within the examiner staff for purposes of achieving diversity among examiners. (3) Covered regulator defined In this subsection, the term covered regulator means the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration. (h) Investments in minority depository institutions and impact banks (1) Control for certain institutions Section 7(j)(8)(B) of the Federal Deposit Insurance Act ( 12 U.S.C. 1817(j)(8)(B) ) is amended to read as follows: (B) control means the power, directly or indirectly— (i) to direct the management or policies of an insured depository institution; or (ii) (I) to vote 25 per centum or more of any class of voting securities of an insured depository institution; or (II) with respect to an insured depository institution that is an impact bank (as designated pursuant to section 707(c) of the Promoting and Advancing Communities of Color through Inclusive Lending Act) or a minority depository institution (as defined in section 308(b) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989), of an individual to vote 30 percent or more of any class of voting securities of such an impact bank or a minority depository institution. . (2) Rulemaking The Federal banking agencies (as defined in section 3 of the Federal Deposit Insurance Act ( 12 U.S.C. 1813 )) shall jointly issue rules for de novo minority depository institutions to allow 3 years to meet the capital requirements otherwise applicable to minority depository institutions. (3) Report Not later than 1 year after the date of the enactment of this Act, the Federal banking agencies shall jointly submit to Congress a report on— (A) the principal causes for the low number of de novo minority depository institutions during the 10-year period preceding the date of the report