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Showing posts with the label Dodd Frank Act Section 342

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

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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 …

Dodd-Frank Office of Minority and Women Inclusion (Section 342): Update and Review of Guiding Principles

Dodd-Frank Office of Minority and Women Inclusion (Section 342): Update and Review of Guiding Principles. Webinar. Thursday, April 12, 2012 from 2:00 PM to 4:00 PM (ET).

To regisiter: http://342update.eventbrite.com

Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act contains a “provision creating an Office of Minority and Women Inclusion at various agencies to monitor the diversity efforts of the agencies, the regulated entities and agency contractors.” We estimate new contract opportunities for woman and minority firms will total $205 million per year.

The Section requires the Department of the Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, each of the Federal Reserve Banks, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Securities and Exchange Commission and Bureau of Consumer Financial Protection to create “an Office…

Executive Order--Establishing a Coordinated Government-wide Initiative to Promote Diversity and Inclusion in the Federal Workforce

The White HouseOffice of the Press SecretaryFor Immediate Release August 18, 2011 Executive Order--Establishing a Coordinated Government-wide Initiative to Promote Diversity and Inclusion in the Federal WorkforceEXECUTIVE ORDERESTABLISHING A COORDINATED GOVERNMENT-WIDE INITIATIVE TO PROMOTE DIVERSITY AND INCLUSION IN THE FEDERAL WORKFORCEBy the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to promote the Federal workplace as a model of equal opportunity, diversity, and inclusion, it is hereby ordered as follows:Section 1. Policy. Our Nation derives strength from the diversity of its population and from its commitment to equal opportunity for all. We are at our best when we draw on the talents of all parts of our society, and our greatest accomplishments are achieved when diverse perspectives are brought to bear to overcome our greatest challenges.A commitment to equal opportunity, diversity, and inclus…

Family Properties: Race, Real Estate and the Exploitation of Black Urban America

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We attended a conference titled "Diversity in Financial Services: The Impact of Dodd-Frank" held from June 22-24, 2011 at the Westin Arlington Gateway, Arlington, VA. We opened the conference by speaking on a panel covering Dodd/Frank Section 342. Moderating the panel was Mikail Moore, Chief of Staff, Congresswoman Maxine Waters, US House of Representatives. Other panelists were Darlene R. Slaughter, Vice President, Chief Diversity Officer, Fannie Mae and Leslie R. Crawford, Deputy Director, Federal Deposit Insurance Corporation.The speaker at General Session IV wasBeryl Satter, author of Family Properties: Race, Real Estate, and the Exploitation of Black Urban America. She discussed the current state of the mortgage markets and placed recent history in context. Her book is perhaps the best exploration of race and the urban real estate market.This is a rare and powerful book which combines socioeconomic trends, the history of the civil rights movement and detailed family his…

$136 million in new contract opportunities for women and minority firms.

Section 342 of the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act contains a provision creating an Office of Minority and Women Inclusion (OMWI) at various agencies to monitor the diversity efforts of the agencies, the regulated entities and agency contractors. We estimate potential new contract opportunities for women and minority firms at $136 million. In response to demand, we are hosting a Webinar on Dodd/Frank Act Section 342.
The session will be held on Wednesday March 30, 2011 at 2pm (EST) and will cost $199.00. Our Section 342 Webinar will review all relevant information, including Office of Minority and Women Inclusion (OMWI) office addresses and contact data.
To register for the Webinar, please click here.

Dodd-Frank Provisions for Minority and Women Business & Professional Opportunities

Learn more about new business and professional opportunities that may become available in 29 federal financial agencies like the nine (9) Federal Reserve Banks, the FDIC, etc. On January 22nd, each of the affected federal financial agencies established new offices devoted to ensuring minorities and women businesses are included in contracting opportunities. Moreover, these offices are still staffing up; therefore, professional opportunities also exist. The Dodd-Frank legislation that became law in the summer of 2010 include these provisions. Attend the Thursday, February 17th Chicago Booth Black Alumni Association's evening program event in Washington, DC to learn more!
Dodd-Frank Provisions for Minority and Women Business & Professional Opportunities
Feb 17, 2011
6:30 PM - 8:30 PM

CBAA Evening Program: Dodd-Frank Provisions for Minority and Women Business

On January 21st, federal financial agencies established new offices devoted to ensuring minorities and women businesses are included in contracting opportunities. Moreover, these offices are still staffing up; therefore, professional opportunities also exist.The Dodd-Frank legislation that became law in the summer of 2010 include these provisions.Attend the Wednesday, January 26th Chicago Booth Black Alumni Association's evening program event in Washington, DC to learn more!Date:
Wednesday, January 26, 2011 from 6:30 PM - 8:30 PM (ET)

Location:
University of Chicago's Office
1730 Pennsylvania Avenue N.W.
Suite 275
Washington DCClick here.

Fed names Directors of Regional Fed Bank OMWI Offices.

According to the Fed,
"The Federal Reserve on Tuesday announced the establishment of offices to promote diversity and inclusion at the Federal Reserve Board and at all 12 of the Federal Reserve Banks.
The offices will build on the Federal Reserve System’s long-standing efforts to promote equal employment opportunity and diversity, and will continue to work to foster diversity in procurement, with a focus on minority-owned and women-owned businesses. The Dodd-Frank Wall Street Reform and Consumer Protection Act required that diversity and inclusion offices be established at certain federal agencies, including the Federal Reserve Board, and at the Federal Reserve Banks. In addition to promoting diversity at the Board and throughout the System, the Board’s Office of Diversity and Inclusion will play an integral role in the development of standards to assess the diversity practices at entities regulated by the Federal Reserve as required by the Dodd-Frank Act.
The heads of the diversit…

From Bloomberg: "U.S. Government Contractors Face New Minority Hiring Mandate"

Bloomberg News reported today that "U.S. Government Contractors Face New Minority Hiring Mandate." The article goes on to state that:
"U.S. financial regulators are required to open 20 offices this month endowed with new powers to force government contractors and subcontractors to diversify their staffs or risk losing federal business.
The Dodd-Frank law orders U.S. financial regulators to set up Offices of Minority and Women Inclusion to monitor whether they and their contractors are hiring enough women and minorities -- a mandate that could have far-reaching effects on public and private-sector hiring.
The offices are being established at agencies ranging from the Federal Deposit Insurance Corp. to each of the 12 Federal Reserve banks.
Among other duties, staff will scrutinize hiring at firms that do business with the regulators and take steps to terminate contracts if the companies haven’…

Section 342 Forecast Confirmed. Probability of repeal placed at 25%.

We predicted during our webinar: The Election and Section 342, that "influential and wealthy tea party contributors will push repeal of financial reform effort first." On January 5th, Tea Party Caucus Founder U.S. Representative Michele Bachmann introduced a bill to repeal the Dodd-Frank Law:
"H.R.87 Latest Title: To repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act. Sponsor: Rep Bachmann, Michele [MN-6] (introduced 1/5/2011). Cosponsors (4)
Latest Major Action: 1/5/2011 Referred to House committee. Status: Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Energy and Commerce, the Judiciary, the Budget, Oversight and Government Reform, Ways and Means, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned."
That the Dodd/Frank repeal bill has been introduced BEFORE t…