Joint Standards for Assessing the Diversity Policies and Practices

ICR 201511-3170-001

OMB: 3170-0060

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2016-02-17
ICR Details
3170-0060 201511-3170-001
Historical Active
CFPB
Joint Standards for Assessing the Diversity Policies and Practices
New collection (Request for a new OMB Control Number)   No
Regular
Approved with change 02/17/2016
Retrieve Notice of Action (NOA) 11/06/2015
Supporting Statement modified to now include start up costs associated with the collection.
  Inventory as of this Action Requested Previously Approved
02/28/2019 36 Months From Approved
750 0 0
9,000 0 0
0 0 0

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), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), Bureau of Consumer Financial Protection (CFPB), and Securities and Exchange Commission (SEC) (together, Agencies and separately, Agency) each to establish an Office of Minority and Women Inclusion (OMWI) to be responsible for all matters of the Agency relating to diversity in management, employment, and business activities. The Act also instructed each OMWI Director to develop standards for assessing the diversity policies and practices of entities regulated by the Agency. The Agencies worked together to develop joint standards (Joint Standards) and, on June 10, 2015, they jointly published in the Federal Register the “Final Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies” (Policy Statement). The Agencies will use the information provided to them to monitor progress and trends in the financial services industry with regard to diversity and inclusion in employment and contracting activities, as well as to identify and highlight those policies and practices that have been successful. The primary federal financial regulator will share information with other agencies, when appropriate, to support coordination of efforts and to avoid duplication. The Agencies may publish information disclosed to them, such as best practices, in any form that does not identify a particular entity or individual or disclose confidential business information.

PL: Pub.L. 111 - 203 342 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
  
None

Not associated with rulemaking

  80 FR 33016 06/15/2015
80 FR 68901 11/06/2015
Yes

1
IC Title Form No. Form Name
Joint Standards for Assessing the Diversity Policies and Practices

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 750 0 0 750 0 0
Annual Time Burden (Hours) 9,000 0 0 9,000 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
New collection of information.

No
No
No
Yes
No
Uncollected
Darrin King 202-693-4129 [email protected]

  No

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.
11/06/2015


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