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Monday, April 7, 2014

CFPB Releases 2013 OMWI Annual Report

Section 342 of the Dodd-Frank Act created Offices of Minority and Women Inclusion in certain federal financial regulatory agencies, including the CFPB. The statute requires that each OMWI office develop standards for:

  • Equal employment opportunity and the racial, ethnic, and gender diversity of the workforce and senior management of the agency;
  • Increased participation of minority-owned and women-owned businesses in the programs and contracts of the agency, including standards for coordinating technical assistance to such businesses; and
  • Assessing the diversity policies and practices of entities regulated by the agency.

Additionally, each OMWI office is required to advise its agency head on the impact of the policies on minority-owned and women-owned businesses.

Read the CFPB 2013 OMWI Annual Report.

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