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Dec. 19 - Comment Period Extended for Proposed Diversity Policies and Practices of Regulated Entities

BrunswickBusinessJournal.net Staff Report

December 19, 2013 - Six federal financial regulatory agencies announced today that they are extending the comment period for their proposed policy statement for assessing diversity policies and practices of the institutions they regulate to allow the public more time to analyze the issues and prepare their comments.

Commenters now have until February 7, 2014, to provide feedback on the proposed policy statement. Originally, comments were due December 24, 2013.

The proposed policy statement, issued pursuant to section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, is intended to promote transparency and awareness of diversity policies and practices within federally regulated financial institutions.

The agencies that issued the proposal are the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission.

On October 25, 2013, the OCC, Board, FDIC, NCUA, CFPB, and SEC announced a joint notice of a proposed interagency policy statement establishing standards for assessing the diversity policies and practices of the entities they regulate. To allow the public more time to consider the proposed assessment standards, the Agencies have determined that an extension of the comment period to February 7, 2014, is appropriate. This action will allow interested persons additional time to analyze the interagency policy statement and prepare their comments.

DATES: Comments must be received on or before February 7, 2014 at any of the agencies. Just go to their websites to get information on posting a comment or sending a letter.


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