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FDIC Urges Financial Institutions to Complete Voluntary Diversity Self-Assessments

The FDIC is urging financial institutions it supervises to voluntarily submit self-assessments of their diversity policies and practices to the agency by Oct. 31, 2024....more

An Update on Diversity, Equity, and Inclusion in the Consumer Financial Services Industry, with Special Guest Naomi Mercer, Senior... [Video]

We first discuss the multiple benefits of diversity, equity, and inclusion (DEI) for financial institutions, the challenges and opportunities institutions face in implementing a DEI strategy, and how DEI applies beyond an...more

FDIC Encourages Participation with the Financial Institution Diversity Self-Assessment

On March 15, 2021, the FDIC’s Office of Minority and Women Inclusion (OMWI) released a Financial Institution Letter regarding diversity self-assessments. In accordance with Section 342 of the Dodd-Frank Wall Street Reform...more

House Financial Services Committee finds megabanks need to improve their diversity

Following hearings this past spring, Representative Maxine Waters (D-CA), Chair of the House Financial Services Committee, released a statement that the Committee finds more work is needed to improve diversity at megabanks. ...more

New Diversity and Inclusion Subcommittee of House Financial Services Committee holds inaugural hearing

One of the first actions taken by Democratic Congresswoman Maxine Waters upon becoming Chairwoman of the House Financial Services Committee was to announce the creation of a new Subcommittee on Diversity and Inclusion (D&I)....more

CFPB’s Office of Minority and Women Inclusion issues annual report

The CFPB’s Office of Minority and Women Inclusion (OMWI) has issued its annual report to Congress covering the OMWI’s activities in FY 2016. The Dodd-Frank Act required the CFPB and various other federal agencies, including...more

Ballard Spahr Partner Dee Spagnuolo Joins CFPB OMWI Director on Panel at ABA Meeting

Ballard Spahr Partner Dee Spagnuolo joined Director Stuart Ishimaru of the CFPB’s Office of Minority and Women Inclusion and other industry leaders for the panel discussion "Diversity and Dodd-Frank Section 342," on September...more

Ballard Spahr partner Dee Spagnuolo joins CFPB OMWI Director on panel at ABA meeting

Members of Ballard Spahr’s Consumer Financial Services group recently participated in the American Bar Association Business Law Section Annual Meeting held in Boston, Massachusetts. On September 8, Ballard partner, Dee...more

Diversity assessment and remedial measures required by CFPB consent order

On June 29, 2016, BancorpSouth Bank announced a proposed settlement and consent order with the CFPB and the U.S. Department of Justice of charges that the bank’s mortgage lending practices violated the Equal Credit...more

Agencies announce submission of diversity self-assessments to OMWIs can begin

In a notice to be published in tomorrow’s Federal Register, the CFPB, OCC, Fed, FDIC, SEC, and NCUA announce that the Office of Management and Budget has approved the “information collection” contained in their “Final...more

Dodd-Frank diversity standards: just out of the gate and already under fire

Just days after the release of the final diversity standards under Section 342 of the Dodd-Frank Act, several prominent lawmakers and business leaders have criticized the new standards for not going far enough to promote...more

CFPB issues final diversity and inclusion standards

The CFPB was among six federal agencies that issued final new diversity and inclusion standards earlier this week. The other agencies were the OCC, Fed, FDIC, NCUA and SEC. The standards go into effect on June 10, 2015 and...more

Diversity Reports at Two Federal Agencies Offer Glimpse of Regulatory Review under Impending Dodd-Frank Diversity Standards

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), signed by President Obama in 2010 in response to the financial crisis, includes a provision intended to remedy racial and gender discrepancies at...more

Diversity reports at two federal agencies offer glimpse of regulatory review under impending Dodd-Frank diversity standards

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), signed by President Obama in 2010 in response to the financial crisis, includes a provision intended to remedy racial and gender discrepancies at...more

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