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Minority and Women Inclusion Amendments

Open Date:
Open for comment 10/19/2016
Deadline:
All comments are due by 12/27/2016
Type:
Notice of Proposed Rulemaking
Number:
RIN-2590-AA78
Group:
Fannie Mae; Freddie Mac; Federal Home Loan Banks; Office of Fianance
Fannie Mae; FHLBanks; Freddie Mac; Office of Finance
Document Number:
2016-25726
CFR:
12 CFR Part 1207
CFR Description:
Minority and Women Inclusion
Federal Register Publish Date:
View Document:
/SupervisionRegulation/Rules/RuleDocuments/Minority and Women Inclusion 2016 Amends NPR 10-18-16_FOR WEB.pdf|195.59 KB;
Contact Information:

FOR FURTHER INFORMATION CONTACT:  Sharron P. A. Levine, Director, Office of Minority and Women Inclusion, Sharron.Levine@fhfa.gov, (202) 649-3496; Eric Howard, Deputy Director, Office of Minority and Women Inclusion, Eric.Howard@fhfa.gov, (202) 649-3009; 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.  If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.

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SUMMARY:  The Federal Housing Finance Agency is issuing notice and providing an opportunity for the public to comment on proposed amendments to its regulations on minority and women inclusion. Those regulations, located at 12 CFR part 1207, require the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) (together, 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 and utilization of minorities, women, and individuals with disabilities and minority-, women-, and disabled-owned businesses in all business and activities at all levels, including management, employment, and contracting. The proposed amendments would:

  • Require each regulated entity to develop and adopt strategies for promoting diversity and ensuring the inclusion of minorities, women, and individuals with disabilities;
  • Improve the usefulness and comparability of the information the regulated entities report to FHFA about their efforts to advance diversity and inclusion; 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.

The Public Comment period on the Proposed Amendments will end 60 days after the date of publication in the Federal Register.

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