The federal bank deposit insurer will accept supervised banks’ voluntary self-assessments of their diversity policies and practices until June 30, the agency said in a letter this week.
In its Financial Institution Letter (FIL-09-2022), the Federal Deposit Insurance Corp. (FDIC) noted that submission of Financial Institution Diversity Self-Assessment (FID-SA) information is voluntary “but encouraged for all FDIC-supervised financial institutions with 100 or more employees.”
It said the assessment is not an examination requirement and that results have no impact on an institution’s safety and soundness, consumer compliance, or Community Reinvestment Act (CRA) examination ratings.
The submitted data is reviewed by the FDIC Office of Minority and Women Inclusion (OMWI). OMWI’s Financial Institution Diversity program, the agency said, assesses the diversity policies and practices among FDIC-supervised financial institutions in 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.
The agency said it treats all information gathered through the self-assessments as confidential commercial information. “Requests for data or information will be processed in accordance with the Freedom of Information Act,” it said.