OCC BULLETIN 2015-30
Subject: Standards for Assessing the Diversity Policies and Practices of Regulated Entities
Date: June 24, 2015 To: Chief Executive Officers of National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
Description: Final Interagency Policy StatementSummarySection 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 requires the directors of the Offices of Minority and Women Inclusion at the Office of the Comptroller of the Currency (OCC) and other federal financial regulators1 (collectively, the agencies) to develop standards for assessing their regulated entities’ diversity policies and practices. The agencies published a proposed policy statement establishing joint standards in the Federal Register on October 25, 2013. On June 10, 2015, the agencies published a final policy statement establishing joint standards, which provides a framework for assessing a regulated entity’s diversity policies and practices. The final policy statement is effective upon publication. The final policy statement reflects the collective efforts of the agencies, which held extensive discussions with depository institutions, holding companies, and industry trade groups and consulted with financial professionals, consumer advocates, and community representatives. The agencies also considered more than 200 public comments submitted on the proposed policy statement. In addition, the agencies, as required by the Paperwork Reduction Act, are asking for public comment on the voluntary collection of information from regulated entities identified in the final policy statement. Comments are due within 60 days after the final policy statement is published in the Federal Register. The voluntary collection of information will be effective upon announcement of Office of Management and Budget approval in the Federal Register.
HighlightsThe final policy statement does the following:
Further InformationPlease contact Betty Washington, Program Manager-Regulated Entities, Office of Minority and Women Inclusion, at (202) 649-6460; or Karen McSweeney, Counsel, Legislative and Regulatory Activities Division, (202) 649-5490. Joyce B. Cofield 1 These other agencies are the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Consumer Financial Protection Bureau, and U.S. Securities and Exchange Commission.
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