CFPB Takes On Employment Diversity At Financial Instutions

The Consumer Financial Protection Bureau has provided a rough sketch of how it will implement a mandate in the Dodd-Frank Act that requires workplace diversity at financial institutions.

The first step is data acquisition, according to a report at American Banker, which covered a Monday press conference hosted by the CFPB. 

The CFPB does not have the power to write rules or enact new hiring requirements at banks, but Director Richard Cordray expects that paying more attention to the issue will encourage more diverse hiring strategies, American Banker notes.

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