STANDARDS FOR ASSESSING THE DIVERSITY POLICIES OF BANKS, INVESTMENT FIRMS, CREDIT UNIONS

Under Dodd/Frank, "six federal financial regulatory agencies – the Securities and Exchange Commission, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency –" must, by law, develop standards and an approach to assessing the diversity policies and practices of entities they regulate. This means looking at diversity at all banks, investment firms, and credit unions. All of them. Each of these agencies will develop a way to determine if the policies of the entities they regulate are fair, or at least, inclusive. They are asking for comments on this.

I suggest you comment, and have even drafted proposed comment text for you at: https://docs.google.com/document/d/1_dVF9yIbI5SU_QkiwuNFg3sOkImTdXnUk5J6-pEm0ZM/edit?usp=sharing

Comments are due by Feb. 7, 2014. Submit them via email by going to: Comments on S7-08-13 Joint Standards for Assessing Diversity Policies 

More information can be found at:

PROPOSED INTERAGENCY POLICY STATEMENT ESTABLISHING JOINT STANDARDS FOR ASSESSING THE DIVERSITY POLICIES AND PRACTICES OF ENTITIES REGULATED BY THE AGENCIES AND REQUEST FOR COMMENT. The Agencies extended the deadline through February 7, 2014, to allow the public more time to analyze the issues and prepare their comments on the Policy Statement. http://www.sec.gov/rules/policy/2013/34-70731.pdf
  
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