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CUNA Worried About NCUA Diversity Reporting Requirements

CUNA worries new diversity reg will bring additional reporting burden.

By David Morrison | Updated on March 29, 2012

CUNA has written NCUA’s Office of Minority and Women Inclusion to urge the agency implement one of the requirements of the Dodd-Frank Act with as little additional reporting requirements as possible.

Section 342(b)(2)(c) of the Dodd-Frank Act requires Federal financial regulators, including the NCUA, to set up offices of minority and women inclusion and staff the offices with directors. The offices are responsible first for monitoring the diversity and inclusion practices of the agencies themselves as well as “assessing the diversity policies and practices of entities regulated by the agency.”

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