ALEXANDRIA, Va. – NCUA Chairman Debbie Matz told Credit Union Times the agency's diversity standards will not be a part of the exam evaluation.
The Dodd-Frank Act of 2010 required the NCUA, Federal Reserve, Office of the Comptroller of the Currency, FDIC, Consumer Financial Protection Bureau and SEC to establish an Office of Minority and Women Inclusion to develop standards for assessing the diversity policies and practices of the entities the agencies regulate.
"One of the things that I'm hearing about is the concern that the diversity standards not be considered as part of the exam and that has never been a consideration – that will not happen," said Matz on Thursday after the NCUA board meeting. "It will not be part of the exam evaluation."
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