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Minority and Women Inclusion Amendments Final Rule

Open Date:
Open for comment
Deadline:
All comments are due by
Type:
Final Rule
Number:
RIN-2590-AA78
Group:
 
Fannie Mae; FHLBanks; Freddie Mac; Office of Finance
Document Number:
 
CFR:
12 CFR Part 1223
CFR Description:
Minority and Women Inclusion
View Document:
 
Contact Information:

FOR FURTHER INFORMATION CONTACT:  Sharron P. A. Levine, Director, Office of Minority and Women Inclusion, Sharron.Levine@fhfa.gov, (202) 649-3496; or James Jordan, Assistant General Counsel, James.Jordan@fhfa.gov, (202) 649-3075 (not toll-free numbers), Federal Housing Finance Agency, 400 Seventh Street, SW, Washington, DC 20219.  The telephone number for the Telecommunications Device for the Hearing Impaired is (800) 877-8339.

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SUMMARY:  The Housing and Economic Recovery Act of 2008 (HERA) amended the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (Safety and Soundness Act) to require the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) (together, the Enterprises), and the Federal Home Loan Banks (Banks or Bank System) and the Bank System's Office of Finance (collectively, the regulated entities) to promote diversity and ensure the inclusion of minorities and women in all business and activities at all levels, including management, employment, and contracting.  The Federal Housing Finance Agency (FHFA) is issuing this final rule amending its regulations on minority and women inclusion (MWI) to clarify the scope of the regulated entities' obligation.  The final rule requires the regulated entities to:  adopt strategic plans to promote the inclusion of minorities-, women-, and disabled individuals, and the businesses they own (MWDOB); amend their policies on equal employment opportunity (EEO) to include sexual orientation, gender identity, and status as a parent; and enhance the usefulness of information the regulated entities report to FHFA on their efforts to advance diversity and inclusion (D&I).

DATES:  This rule is effective 30 days after date of publication in the Federal Register.

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