Diversity Mandates: Debate
During the NCUA's Oct. 25 board meeting, the regulator proposed an interagency rule that would require credit unions with more than 100 employees to report diversity self-assessments, which the NCUA would compile into a report for Congress. Approximately 600 federally insured credit unions were affected. NCUA Board Chairman Debbie Matz said the examination process would not be used to assess diversity.
The rule, which was mandated by the Dodd-Frank Act, has drawn both supporters and detractors. Below are two opinions recently published in Credit Union Times. Please add your opinions in the comment section below.
Diversity Standards Are a Compliance Nightmare
by Marvin Umholtz