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Federal Financial Regulators Issue Diversity Policy Statement




by:
Robert E. Bostrom
Greenberg Traurig, LLP - New York Office

Peter L. Cockrell
Gil Rudolph
Greenberg Traurig, LLP - McLean Office

J. Scott Sheehan
Greenberg Traurig, LLP - Houston Office

 
November 5, 2013

Previously published on October 31, 2013

On October 23rd, the OCC, the Federal Reserve Board, the FDIC, the NCUA, the SEC, and the CFPB issued a proposal for joint standards to assess the diversity policies and practices of their respective regulated entities.1  Section 342 of the Dodd-Frank Act requires each of these agencies to develop such standards through their Offices of Minority and Women Inclusion. The proposed joint standards address:

  • Organizational commitment to diversity and inclusion;
  • Workforce profile and employment practices;
  • Procurement and business practices and supplier diversity; and
  • Practices to promote transparency of organizational diversity and inclusion.

After it is published in the Federal Register, the proposal will be available for public comment for 60 days.



1  The Interagency Policy is available at http://files.consumerfinance.gov/f/201310&under;cfpb&under;final-diversity-standards-statement.pdf.

 

The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 

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Author
 
Peter L. Cockrell
Gil Rudolph
J. Scott Sheehan
Practice Area
 
Banking Law
Finance
 
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