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."

It's this last requirement that led CUNA, with credit union executives, to meet with the office's director Tawana James on February 29 and to have written her a letter on March 26 expressing concern about a possible requirement to assess the diversity practices of credit union contractors and suppliers.