Joint Standards for Assessing Diversity Policies and Practices
No material or nonsubstantive change to a currently approved collection
No
Regular
04/07/2021
Requested
Previously Approved
01/31/2023
01/31/2023
195
195
1,560
1,560
0
0
Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Act) required the OCC, Fed, FDIC, CFPB, and SEC each to establish an Office of Minority and Women Inclusion (OMWI) to be responsible for all matters of the Agency relating to diversity in management, employment, and business activities. The Act also instructed each OMWI Director to develop standards for assessing the diversity policies and practices of entities regulated by the Agency. The Agencies worked together to develop joint standards (Joint Standards) and, on June 10, 2015, they jointly published in the Federal Register the âFinal Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agenciesâ (Policy Statement). The Policy Statement includes Joint Standards that cover âPractices to Promote Transparency of Organizational Diversity and Inclusion.â These Joint Standards contemplate that a regulated entity is transparent about its diversity and inclusion activities by making certain information available to the public annually on its Web sites or through other appropriate communications methods, in a manner reflective of the entityâs size and other characteristics. The specific information referenced in these standards is (a) the entityâs diversity and inclusion strategic plan; (b) its policy on its commitment to diversity and inclusion; (c) its progress toward achieving diversity and inclusion in its workforce and procurement activities; and (d) opportunities available at the entity that promote diversity.
In addition, the Policy Statement includes Joint Standards that address âEntitiesâ Self-Assessment.â The Joint Standards for Entitiesâ Self-Assessment envision that a regulated entity, in a manner reflective of its size and other characteristics, (a) conducts annually a voluntary self-assessment of its diversity policies and practices; (b) monitors and evaluates its performance under its diversity policies and practices on an ongoing basis; (c) provides information pertaining to its self-assessment to the OMWI Director of its primary federal financial regulator; and (d) publishes information pertaining to its efforts with respect to the Joint Standards.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Form Form 2710/06 Joint Standards for Assessing Diversity Policies and Practices - Electronic Form
OMWI Request for OMB Approval for FIDSA_REV.docx
SPST-0200 OMWI Practices and Procedures 2020 Renewal.doc
Joint Standards for Assessing Diversity Policies and Practices - Own Submission