NAWRB Responds
to Final Interagency Policy Statement Request for Comment
Section 342 of the Dodd-Frank Wall Street Reform
and Consumer Protection Act of 2010 mandated that federal agencies institute an Office of Minority and Women Inclusion (OMWI). The act distinguishes each OMWI as, “responsible for all matters of the agency relating to diversity in management, employment, and business activities.”
To view the final statement in full please visit: https:// www.fdic.gov/news/news/press/2015/pr15047a.pdf.
The agencies requested comments on the following topics concerning the proposed collection of information outlined in the final statement. The agencies will summarize the comments received and/or include them in their Office of Management and Budget (OMB) approval request. Furthermore, to determine the efficacy of each office, All comments will be a matter of public record. Dodd-Frank tasked OMWI directors with establishing diversity standards for agencies to assess the diversity pol- 1) Whether the collections of information are necessary icies and practices within the institutions they govern. for the proper performance of the agencies’ functions, including whether the information will have Of these agencies, six—the Federal Reserve Board practical utility (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration 2) The accuracy of the agencies’ estimate of the informa(NCUA), the Consumer Financial Protection Bureau tion collection burden, including the validity of the (CFPB), the Office of the Comptroller of the Currency methods and the assumptions used (OCC) and the Securities and Exchange Commission (SEC)—worked together to develop joint standards. 3) Ways to enhance the quality, utility, and clarity of the information proposed to be collected The six agencies also collaborated with the public, following the publication of a request for comments on the 4) Ways to minimize the information collection bur“Proposed Interagency Policy Statement Establishing den on respondents, including through the use of Joint Standards for Assessing the Diversity Policies and automated collection techniques or other forms of Practices of Entities Regulated by the Agencies” in the information technology Federal Register in October 2013. 5) Estimates of capital or start-up costs and costs of The agencies issued a final statement establishing these operation, maintenance, and purchase of services to standards in June 2015. Subdivided into five sections, provide information this interagency policy statement addresses the barriers and difficulties burdening minorities and women today. As an advocate for women and women-owned business-
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