Dodd Frank Section 342

Introduced by representative maxine waters d ca the overall purpose of section 342 is to assist minorities and women many of which were hard hit during the great recession by encouraging diversity and inclusion in the.

Dodd frank section 342. The office of minority and women inclusion omwi provides leadership and guidance for the sec s efforts to leverage diversity and inclusion throughout the agency to enhance mission performance and impact. A office of minority and women inclusion. Section 342 of the dodd frank wall street reform and consumer protection act was included in the act to promote diversity and inclusion in the financial services industry.

These efforts include building and maintaining a diverse workforce cultivating an inclusive work environment and fostering diversity in the agency s network of suppliers. Section 342 is a lesser known provision of the dodd frank act which until recent years has gone relatively unnoticed. Section 342 of the dodd frank wall street reform and protection act has one main purpose.

Section 342 dodd frank wall street reform and consumer protection act 2016 report to congress 3 introdction inclusion strategic plan annually and updates it as needed to refine the agency s efforts in promoting diversity and inclusion on an ongoing basis. Section 342 of dodd frank empowers these owmis to examine the diversity practices of their respective contractors and subcontractors and to make referrals to the office of federal contract compliance programs ofccp in some instances where deficiencies are found. The law overhauled financial regulation in the aftermath of the great recession and it made changes affecting all federal financial regulatory agencies and almost every part of the nation s financial services industry.

And iv the securities and exchange commission with respect to any entity for which the securities and exchange commission is the primary financial. The dodd frank wall street reform and consumer protection act of 2010 sec. As defined in section 2 of the dodd frank wall street reform and consumer protection act.

Office of minority and women inclusion a office of minority and women inclusion 1 establishment a in general except as provided in subparagraph b not later than 6 months after the date of enactment of this act each agency shall establish an. The dodd frank wall street reform and consumer protection act commonly referred to as dodd frank is a united states federal law that was enacted on july 21 2010.