Section 342 of the Dodd-Frank Wall
Street Reform and Consumer Protection Act of 2010 (Act) required
the Office of the Comptroller of the Currency (OCC) and other
Federal financial regulators (together, Agencies and separately,
Agency) each to establish an Office of Minority and Women Inclusion
(OMWI) to be responsible for all Agency matters relating to
diversity in management, employment, and business activities. The
Act also instructed each Agency’s OMWI Director to develop
standards for assessing the diversity policies and practices of
entities regulated by that Agency. The Agencies worked together to
develop joint standards (Joint Standards) and on June 10, 2015,
they jointly published the “Final Interagency Policy Statement
Establishing Joint Standards for Assessing the Diversity Policies
and Practices of Entities Regulated by the Agencies” (Policy
Statement). See 80 Fed. Reg. 33016. The Joint Standards contain
information collections that fall within the scope of the Paperwork
Reduction Act of 1995 (PRA). First, the Joint Standards include
“Practices to Promote Transparency of Organizational Diversity and
Inclusion,” which contemplate that a regulated entity should make
certain information available to the public annually on its Web
sites or through other appropriate communications methods, in a
manner reflective of the entity’s size and other characteristics.
The specific information referenced in these standards is (a) the
entity’s 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. Second, the Joint Standards address “Entities’
Self-Assessments,” which contemplate that a regulated entity, in a
manner reflective of its size and other characteristics, should (a)
conduct an annual, voluntary self-assessment of its diversity
policies and practices; (b) monitor and evaluate its performance
under its diversity policies and practices on an ongoing basis; (c)
provide information pertaining to its self-assessment to the OMWI
Director of its primary federal financial regulator; and (d)
publish information pertaining to its efforts with respect to the
Joint Standards. In order to facilitate the self-assessment and
information collection described in the “Entities’ Self-Assessment”
Joint Standards discussed above, the OCC has developed a voluntary
“Diversity Self-Assessment Template for Entities Regulated by the
OCC” (Template).
US Code:
12
USC 5452 Name of Law: Dodd-Frank Wall Street Reform and
Consumer Protection Act of 2010
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.
Joint Standards for Assessing Diversity Policies and Practices
1557-0334 Supporting Statement Final Clean 11-3-16.docx
Joint Standards for Assessing Diversity Policies and Practices