Credit UnionTimes recently posted a guest editorial written by MarkBrantley, who serves as the vice chairman for the African-AmericanCredit Union Coalition. Entitled, “PuttingAction Into Diversity,” the op-ed, among other things, urgedthe NCUA to appoint a permanent director for the agency’s Office ofMinority and Women Inclusion “sooner rather than later.”

Mr. Brantley also expressed his optimism that the NCUA and otherbanking regulators would issue a joint final rule of theProposed Interagency Statement Establishing Joint Standards forAssessing the Diversity Policies and Practices of EntitiesRegulated by the Agencies…“that is substantive andmeaningfully aligned with the intent of Section 342 ofDodd-Frank.”

The NCUA’s costly and burdensome diversity rule would not leadto the substantive and participatory diversity that the AACUC’sleader seeks for the nation’s credit unions. It would insteadprovide counter-productive support for private causes of actionagainst credit unions. It would increase the potential forreputation risk at credit unions. And, it would establishunrealistic de facto quotas for credit unions’ employeehiring and third-party provider practices. It is also important toknow that NAFCU and CUNA opposed the initially-proposed diversityrule in 2014, as did many of the state trade associations.