Federal Housing Finance Agency Print
Home / Media / Blog / FHFA’s Office of Minority and Women Inclusion 2016 Annual Report to Congress

FHFA’s Office of Minority and Women Inclusion 2016 Annual Report to Congress

Category: NONE
Published: 3/31/2017

​Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, FHFA’s Office of Minority and Women Inclusion (OMWI) submits an annual report to Congress detailing initiatives and accomplishments undertaken during the year to increase diversity and ensure inclusion throughout its workforce and business activities of the Agency, including procurement.  FHFA’s 2016 OMWI Annual Report to Congress describes the measures it took to accomplish this objective, as it continued existing programs that have proven to be effective, and developed new strategies and initiatives to support a diverse workforce and maintain an inclusive organizational culture.  

The Report also includes an update on the activities for the entities FHFA regulates – Fannie Mae, Freddie Mac, the 11 Federal Home Loan Banks, and the Office of Finance (OF) (collectively, the regulated entities) in the implementation of their diversity and inclusion programs as required under the Housing and Economic Recovery Act of 2008.  

Key takeaways from the 2016 report:  

  • FHFA’s minority representation in its workforce grew from 229 minority employees in 2015 to 242 minority employees in 2016, a 5.7 percent increase.
  • FHFA increased minority- and women-owned business (MWOB) participation in its contracting actions by approximately 4.5 percent and increased overall dollars obligated to MWOBs by 30.9 percent in 2016 above the MWOB contracting actions and awards made in 2015.  
  • FHFA’s OMWI supervision team launched a diversity and inclusion examination program to examine and assess the diversity and inclusion practices of each regulated entity.   
  • FHFA published a Notice of Proposed Rulemaking to require the regulated entities to develop and implement strategic plans to promote diversity and ensure inclusion in all activities and at every level of their respective organizations. 

FHFA is pleased with its progress in advancing diversity and inclusion and looks forward to further enhancement of this core value as an integral part of FHFA’s mission.

Tagged:  

By: Sharron Levine

Director, FHFA Office of Minority & Women Inclusion

By:  

© 2017 Federal Housing Finance Agency