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Category Archives: Diversity and Inclusion

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CFPB releases annual employee survey results, 2016-2020 Diversity and Inclusion Strategic Plan

Posted in Diversity and Inclusion

The CFPB released two items at year-end:  the results of its 2016 annual employee survey and its updated Diversity and Inclusion Strategic Plan (Strategic Plan) for 2016-2020. Survey.  Of the 1,567 CFPB employees surveyed, 1,372 (almost 87.6%) responded to the 2016 survey.  We were pleased to see that the survey results appear to show that… More >

MBA launches new networking platform for women

Posted in Diversity and Inclusion

Women in the real estate financing sector have a new opportunity to connect with others in their field and to access and exchange information about the industry.  On October 18, the Mortgage Bankers Association (MBA) announced the launch of mPower, a professional networking platform that aims to create “a strong, diverse network of women” in… More >

Ballard Spahr partner Dee Spagnuolo joins CFPB OMWI Director on panel at ABA meeting

Posted in Diversity and Inclusion

Members of Ballard Spahr’s Consumer Financial Services group recently participated in the American Bar Association Business Law Section Annual Meeting held in Boston, Massachusetts.  On September 8, Ballard partner, Dee Spagnuolo, joined Director Stuart Ishimaru of the CFPB’s Office of Minority and Women Inclusion, and other industry leaders for a panel discussion entitled, “Diversity and Dodd-Frank… More >

Diversity assessment and remedial measures required by CFPB consent order

Posted in Diversity and Inclusion, Fair Lending

On June 29, 2016, BancorpSouth Bank announced a proposed settlement and consent order with the CFPB and the U.S. Department of Justice of charges that the bank’s mortgage lending practices violated the Equal Credit Opportunity Act and Fair Housing Act by redlining majority-minority neighborhoods in the Memphis MSA and illegally discriminating against African Americans in… More >

Agencies announce submission of diversity self-assessments to OMWIs can begin

Posted in Diversity and Inclusion

In a notice to be published in tomorrow’s Federal Register, the CFPB, OCC, Fed, FDIC, SEC, and NCUA announce that the Office of Management and Budget has approved the “information collection” contained in their “Final Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies.”  The… More >

World Bank Creates External Advisory Panel For Diversity & Inclusion

Posted in Diversity and Inclusion

On March 3, 2015, the World Bank Group announced the creation of an External Advisory Panel (Panel) for Diversity & Inclusion. This announcement comes on the heels of the newly released diversity Standards, developed pursuant to the Dodd-Frank Act, which are applicable to regulated entities, including financial institutions doing business in the United States. World… More >

Ballard Spahr partner Dee Spagnuolo to be faculty member at ABA diversity and inclusion webinar

Posted in Diversity and Inclusion

On August 12, 2015, Dee Spagnuolo, a Ballard Spahr partner, will be a faculty member at an American Bar Association webinar: “Dodd-Frank: Implications for Your Diversity and Inclusion Program.”  The program will focus on how Dodd-Frank Section 342 impacts regulated entities, including financial institutions and publicly traded companies, and include a discussion of best practices for compliance…. More >

Dodd-Frank diversity standards: just out of the gate and already under fire

Posted in Diversity and Inclusion

Just days after the release of the final diversity standards under Section 342 of the Dodd-Frank Act, several prominent lawmakers and business leaders have criticized the new standards for not going far enough to promote diversity and inclusion within the financial services industry.  The standards were issued jointly on June 9 by six federal agencies—the… More >

CFPB Announces Final Diversity Standards under Dodd-Frank Section 342 Are Completed

Posted in Diversity and Inclusion

 On April 29, 2014, the Office of Minority and Women Inclusion (OMWI) of the Consumer Financial Protection Bureau (CFPB or Bureau) released its third Annual Report for 2014, as mandated by section 342(e) of the Dodd-Frank Act (Act). In the Report, CFPB stated that six agencies under Dodd-Frank have completed the final diversity policy statement,… More >

Enhance Diversity & Inclusion Efforts in Four Areas CFPB, Audit Recommends

Posted in Diversity and Inclusion

Last week, the Office of Inspector General published its findings following an audit assessing the CFPB’s human resources-related operations and other efforts for equal employment.  The audit, which was conducted in response to a congressional request for information on the CFPB’s activities related to diversity and inclusion (D&I), analyzed the CFPB’s efforts to ensure equal… More >

Diversity reports at two federal agencies offer glimpse of regulatory review under impending Dodd-Frank diversity standards

Posted in Diversity and Inclusion

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), signed by President Obama in 2010 in response to the financial crisis, includes a provision intended to remedy racial and gender discrepancies at federal financial regulatory agencies and private financial institutions.  Section 342 of Dodd-Frank directs each of the federal financial regulatory agencies to create… More >

CFPB Continues Focus on Latino Community

Posted in CFPB General, Credit Reports, Debt Collection, Diversity and Inclusion, FTC, Uncategorized

The CFPB and the FTC have announced that the agencies will host a joint roundtable entitled, “Debt Collection and the Latino Community,” on October 23, 2014. The roundtable will examine how debt collection and credit reporting issues affect Latino consumers, especially those who have limited English proficiency (LEP). Consumer advocates, industry representatives, state and federal… More >

CFPB: Industry should “start now” to comply with workplace diversity and inclusion standards

Posted in CFPB People, CFPB Rulemaking, Diversity and Inclusion

On June 26, 2014, I participated in a panel presentation at the MBA Strategic Markets and Diversity Summit, in Washington, D.C. Stuart Ishimaru, Director of the Consumer Financial Protection Bureau’s Office of Minority and Women Inclusion, also sat on the panel. The presentation focused on Section 342 of the Dodd-Frank Act and the proposed Interagency… More >