CUNA has written NCUA's Office of Minority and Women Inclusionto urge the agency implement one of the requirements of theDodd-Frank Act with as little additional reporting requirements aspossible.

Section 342(b)(2)(c) of the Dodd-Frank Act requires Federalfinancial regulators, including the NCUA, to set up offices ofminority and women inclusion and staff the offices with directors.The offices are responsible first for monitoring the diversity andinclusion practices of the agencies themselves as well as“assessing the diversity policies and practices of entitiesregulated by the agency.”

It's this last requirement that led CUNA, with credit unionexecutives, to meet with the office's director Tawana James onFebruary 29 and to have written her a letter on March 26 expressingconcern about a possible requirement to assess the diversitypractices of credit union contractors and suppliers.