Decades after the March on Washington, financial institutions across the country face the same diversity issues.
Thirty-three year agency veteran was director of the Dodd-Frank mandated Office of Minority and Women Inclusion.
Standards are not mandates, agencies say.
Dodd-Frank mandate requires CUs with more than 100 employees to file annual diversity self-assessments. NCUA will not use the exam process to assess diversity.
NCUA, other regulators considering new standards as mandated by Dodd-Frank.
Comment letters responding to an NCUA proposal to create a Dodd-Frank mandated Minority Depository Institution preservation program generally support the effort, but some question the costs and need to create a new program.
The African-American Credit Union Coalition said it “unequivocally supports” NCUA’s proposal to create a Minority Depository Institution preservation program.
Lynette Smith watched the March on Washington on Aug. 28, 1963, on television. Then she was 7. Now she's a credit union CEO.
While the NCUA’s Office of Minority and Women Inclusion was created to ensure diversity in management, employment and business activities, the two-year old division has much more room to have an impact.
WASHINGTON — Two credit union witnesses voiced disagreements over the impact the Dodd-Frank Act has had on their credit unions when they testified July 19 before the House Financial Services Subcommittee on Oversight and Investigations.