I 

117TH CONGRESS 

1ST SESSION H. R. 2516 

To amend the Dodd-Frank Wall Street Reform and Consumer Protection 

Act to require Federal banking regulators to include a diversity and 

inclusion component in the Uniform Financial Institutions Rating System, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 14, 2021 

Mr. GREEN of Texas introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 

To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require Federal banking regulators to include a diversity and inclusion component 

in the Uniform Financial Institutions Rating System, 

and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Promoting Diversity 

5 and Inclusion in Banking Act of 2021’’. 


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1 SEC. 2. DIVERSITY AND INCLUSION RATINGS. 

2 (a) IN GENERAL.—The Dodd-Frank Wall Street Re3 form and Consumer Protection Act (12 U.S.C. 5301 et 

4 seq.) is amended by inserting after section 342 the fol5 lowing: 

6 ‘‘SEC. 342A. DIVERSITY AND INCLUSION RATINGS. 

7 ‘‘(a) IN GENERAL.—The Board of Governors, the 

8 Comptroller of the Currency, the Corporation, and the Na9 tional Credit Union Administration Board, in assigning a 

10 rating to a depository institution under the Uniform Fi11 nancial Institutions Rating System (or an equivalent rat12 ing by any such agency under a comparable rating system) 

13 shall include a diversity and inclusion component that ex14 amines— 

15 ‘‘(1) whether the depository institution has poli16 cies in place to encourage diversity and inclusion in 

17 the hiring practices of the institution; 

18 ‘‘(2) whether the depository institution provides 

19 training to the employees of the institution on diver20 sity and inclusion; and 

21 ‘‘(3)(A) with respect to a depository institution 

22 with total consolidated assets of $1,000,000,000 or 

23 less, whether such depository institution has des24 ignated an individual to serve as a Diversity and In25 clusion Officer who reports to the Chief Executive 


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1 Officer of the institution on all diversity and inclu2 sion matters; or 

3 ‘‘(B) with respect to a depository institution 

4 with total consolidated assets of more than 

5 $1,000,000,000, whether such depository institu6 tion— 

7 ‘‘(i) has designated an individual to serve 

8 as a Diversity and Inclusion Officer; and 

9 ‘‘(ii) has established a committee for diver10 sity and inclusion that holds meetings quarterly 

11 and that includes in its membership the Diver12 sity and Inclusion Officer designated under 

13 clause (i) and the Chief Executive Officer of the 

14 institution. 

15 ‘‘(b) APPLICATION TO MINORITY DEPOSITORY INSTI16 TUTIONS.—In carrying out subsection (a) with respect to 

17 a minority depository institution (as defined under section 

18 308(b) of the Financial Institutions Reform, Recovery, 

19 and Enforcement Act of 1989), the Board of Governors, 

20 the Comptroller of the Currency, the Corporation, and the 

21 National Credit Union Administration Board shall— 

22 ‘‘(1) assign such institution the highest rating 

23 with respect to the diversity and inclusion compo24 nent described under subsection (a); and 


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1 ‘‘(2) exempt such institution from any examina2 tion procedures related to the diversity and inclusion 

3 component described under subsection (a).’’. 

4 (b) CLERICAL AMENDMENT.—The table of contents 

5 for the Dodd-Frank Wall Street Reform and Consumer 

6 Protection Act is amended by inserting after the item re7 lating to section 342 the following: 

‘‘Sec. 342A. Diversity and inclusion ratings.’’. 

Æ 


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