Financial Regulators Release Statement On Dodd-Frank Diversity, Inclusion Standards

Six federal financial regulators June 9 released a new policy statement on diversity policies and practices of the entities they regulate as required by the Dodd-Frank Act.

The policy statement, which takes effect when published June 10 in the Federal Register, establishes joint standards on how the Office of the Comptroller of the Currency, the Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Consumer Financial Protection Bureau and the Securities and Exchange Commission will assess those policies.

The statement clarifies that it is a general statement of policy and does not create new legal ...