Agencies Provide Guidance on How to Submit Diversity Self-Assessments

The Board of Governors of the Federal Reserve System, the FDIC and the Office of the Comptroller of the Currency issued FAQ's on how their respective regulated financial institutions can submit self-assessments of their diversity policies and practices in effect as of the end of 2015. These agencies are responding to Dodd-Frank Section 342, which requires federal banking agencies to develop and implement standards and procedures to ensure, to the maximum extent possible, the fair inclusion and utilization of minorities and women in all levels of business activities.

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