Washington, D.C. – The Federal Housing Finance Agency (FHFA) is issuing a Notice of Proposed Rulemaking and seeking comments on proposed amendments to its Minority and Women Inclusion regulations.  The Housing and Economic Recovery Act of 2008 requires Fannie Mae, Freddie Mac and the Federal Home Loan Banks (regulated entities) to promote diversity and inclusion in all their businesses and activities.  In 2010, FHFA adopted regulations to facilitate implementation of those requirements.  The proposed amendments further clarify the scope of the regulated entities' obligation to promote diversity and inclusion.   

The proposed amendments would:

• require the regulated entities to engage in diversity and inclusion strategic planning by developing stand-alone plans or by incorporating diversity and inclusion into their existing strategic planning processes;
• encourage the regulated entities to expand contracting opportunities for minorities, women, and individuals with disabilities through subcontracting arrangements;
• require the regulated entities to amend their policies on equal opportunity in employment and contracting by adding sexual orientation, gender identity, and status as a parent to the list of protected classifications; and
• require the regulated entities to provide information in their annual reports to FHFA about their efforts to advance diversity and inclusion through capital market transactions, affordable housing and community investment programs, initiatives to improve access to credit, and strategies for promoting the diversity of supervisors and managers.

FHFA invites interested parties to submit comments on all aspects of the Notice of Proposed Rulemaking within 60 days of publication in the Federal Register via FHFA.gov. 

Link to Notice of Proposed Rulemaking sent to Federal Register