2023 Financial Institution Diversity Self-Assessment: Voluntary Self-Assessments Accepted Now through October 31, 2024

Summary:

In accordance with the Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies1 (Interagency Statement) developed pursuant to Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, FDIC-supervised financial institutions are encouraged to voluntarily conduct and submit self-assessments of their diversity policies and practices by October 31, 2024.

Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-supervised financial institutions.

Highlights:

• FDIC-supervised financial institutions are encouraged to voluntarily conduct and submit self-assessments of their diversity policies and practices to the agency by October 31, 2024. 
• The FDIC gathers and analyzes diversity self-assessment information detailed in the Interagency Statement pursuant to Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The interagency standards cover the following areas:
  • Organizational commitment to diversity and inclusion,
  • Workforce profile and employment practices,
  • Procurement and business practices - supplier diversity,
  • Practices to promote transparency of organizational diversity and inclusion, and
  • Entities’ self-assessment.2
• The FDIC provides a user guide, submission demonstration video, and other resources to help institutions assess and identify ways to strengthen their diversity policies and practices in a manner that reflects their size and unique characteristics.
• The self-assessment is not an examination requirement; results are not shared with examiners and have no impact on an institution’s safety and soundness or consumer compliance ratings, or its Community Reinvestment Act performance evaluation.
• The FDIC treats all information gathered through the self-assessments as confidential commercial information to the extent permitted by law. Requests for disclosure of data or information will be processed in accordance with applicable law, including the Freedom of Information Act.
• The diversity self-assessment form is fully automated and accessible online through the secure FDICconnect portal.  Multiple authorized users can complete the self-assessment electronically, view previous submissions, and easily import content from a previous submission for the current reporting period.
• The FDIC provides technical assistance to financial institutions and hosts virtual “Office Hours” sessions to provide one-one-one support on how to complete the diversity self-assessment.  The “Office Hours” sessions will take place during the assessment open period.3
  
  To register for a session, please visit the Financial Institution Diversity program website.
• If you need to obtain access to the FDICconnect portal, contact your institution’s FDICconnect Coordinator.  If you do not know who your institution’s coordinator is, send an email to FDICconnect@fdic.gov or contact the FDICconnect Helpdesk at 703-516-1069.

• 1

  See Final Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies, 80 Fed. Reg. 33016 (June 10, 2015).

• 2

  When reviewing self-assessments, OMWI considers an individual entity’s size and other characteristics.

• 3

  Actual session dates will be determined based on the FIL distribution date.