|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.