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
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
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
On March 23, 2020, the FDIC’s Office of Minority and Women Inclusion (OMWI) announced that it will request 2019 diversity self-assessments from FDIC-regulated financial institutions. ...more
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
We recently learned that several clients have received letters from the CFPB’s Office of Minority and Women Inclusion (OMWI) indicating that the Bureau will be inviting them to submit a self-assessment of their diversity and...more
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
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
4/14/2017
/ Annual Reports ,
Consumer Financial Protection Bureau (CFPB) ,
Discrimination ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Dodd-Frank ,
EEO-1 ,
Equal Employment Opportunity Commission (EEOC) ,
Financial Institutions ,
Minority-Owned Businesses ,
OMWI ,
Women-Owned Businesses
The Consumer Financial Protection Bureau (CFPB)'s Office of Minority and Women Inclusion (OMWI) has issued its third annual report to Congress covering the OMWI's activities in 2015. The Dodd-Frank Act required the CFPB and...more
Regulated entities should be aware of two recent developments concerning the final diversity and inclusion standards issued this summer under Dodd-Frank Section 342 by the CFPB, OCC, Fed, FDIC, NCUA and SEC. Given that the...more
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