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2022 Financial Institution Diversity Self-Assessments: Voluntary Self-Assessments Accepted Now through September 30, 2023

July 13, 2023 / Source: FDIC

Summary:

In accordance with Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, FDIC-supervised financial institutions are encouraged to voluntarily conduct and submit self-assessments of their diversity policies and practices by September 30, 2023.

Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-supervised financial institutions.

Highlights:

    • FDIC-supervised financial institutions are encouraged to voluntarily conduct and submit self-assessments of their diversity policies and practices to the agency by September 30, 2023.
    • The FDIC gathers and analyzes diversity self-assessment information pursuant to Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, using interagency standards1¬†for 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‚Äô self-assessment.2

 

  • The FDIC provides a user guide, submission demonstration video, and other resources to help institutions assess and identify ways to strengthen their diversity policies and practices in a manner that reflects their size and unique characteristics.
  • The self-assessment is not an examination requirement; results are not shared with examiners and have no impact on an institution‚Äôs safety and soundness or consumer compliance ratings, or Community Reinvestment Act (CRA) performance evaluation.
  • The FDIC treats all information gathered through the self-assessments as confidential commercial information to the extent permitted by law. Requests for disclosure of data or information will be processed in accordance with applicable law, including 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‚Äôs FDICconnect¬†Coordinator.¬† If you do not know who your institution‚Äôs coordinator is, send an email to¬†FDICconnect@fdic.gov¬†or contact the FDICconnect¬†helpdesk at 703-516-1069.

2 When reviewing self-assessments, OMWI considers an individual entity’s size and other characteristics.