Summary:
The FDIC’s Office of Minority and Women Inclusion (OMWI) encourages all FDIC-supervised financial institutions, particularly those with 100 or more employees, to submit voluntary self-assessments of their diversity policies and practices. The FDIC gathers and analyzes this information in accordance with Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The window for submissions for the 2021 reporting period is open until June 30, 2022.
Statement of Applicability: The information conveyed in this Financial Institution Letter (FIL) is applicable to all FDIC-supervised financial institutions.
Highlights:
- OMWI’s Financial Institution Diversity program assesses the diversity policies and practices among FDIC-supervised financial institutions in the following areas:
- Organizational commitment to diversity and inclusion,
- Workforce profile and employment practices,
- Procurement and business practices/supplier diversity,
- Practices to promote transparency of organizational diversity and inclusion, and
- Entities’ self-assessment.
- The FDIC provides a user guide, a submission demonstration video, and other resources to help institutions assess, and identify ways to strengthen, their diversity policies and practices.
- Submission of Financial Institution Diversity Self-Assessment (FID-SA) information is voluntary but encouraged for all FDIC-supervised financial institutions with 100 or more employees. The assessment is not an examination requirement; results have no impact on an institution’s safety and soundness, consumer compliance, or CRA examination ratings.
- The FDIC treats all information gathered through the self-assessments as confidential commercial information. Requests for data or information will be processed in accordance with the Freedom of Information Act.
- The diversity self-assessment form is fully automated and accessible online through the secure FDICconnect portal. Multiple authorized users can complete the self-assessment electronically, view previous submissions, and easily import content from a previous submission for the current reporting period.
- If you need to obtain access to the FDICconnect portal, contact your institution’s FDICconnect Coordinator. If you do not know who your institution’s coordinator is, send an email to FDICconnect@fdic.gov.
Related Topics:
Corporate Governance and Auditing Programs
The Standards for Assessing the Diversity Policies and Practices