IB 

Union Calendar No. 269 

117TH CONGRESS 

2D SESSION H. R. 2516 

[Report No. 117–355] 

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 

JUNE 7, 2022 

Reported with an amendment, committed to the Committee of the Whole 

House on the State of the Union, and ordered to be printed 

[Strike out all after the enacting clause and insert the part printed in italic] 

[For text of introduced bill, see copy of bill as introduced on April 14, 2021] 


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•HR 2516 RH

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. 


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•HR 2516 RH

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’’. 

6 SEC. 2. DIVERSITY AND INCLUSION RATINGS. 

7 (a) IN GENERAL.—The Dodd-Frank Wall Street Re8 form and Consumer Protection Act (12 U.S.C. 5301 et seq.) 

9 is amended by inserting after section 342 the following: 

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

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

12 Comptroller of the Currency, the Corporation, and the Na13 tional Credit Union Administration Board, in assigning 

14 a rating to a depository institution under the Uniform Fi15 nancial Institutions Rating System (or an equivalent rat16 ing by any such agency under a comparable rating system) 

17 shall include a diversity and inclusion component that ex18 amines— 

19 ‘‘(1) whether the depository institution has effec20 tive policies in place to encourage diversity and in21 clusion in the hiring practices of the institution; 

22 ‘‘(2) whether the depository institution provides 

23 training to the employees of the institution, that is 

24 appropriate to the size and resources of the institu25 tion, on diversity and inclusion; and 


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

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

3 less, whether such depository institution has des4 ignated an individual to serve as a Diversity and In5 clusion Officer who reports to the Chief Executive Of6 ficer of the institution on all diversity and inclusion 

7 matters; or 

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

9 with total consolidated assets of more than 

10 $1,000,000,000, whether such depository institution— 

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

12 as a Diversity and Inclusion Officer; and 

13 ‘‘(ii) has established a committee for diver14 sity and inclusion that holds meetings quarterly 

15 and that includes in its membership the Diver16 sity and Inclusion Officer designated under 

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

18 institution. 

19 ‘‘(b) APPLICATION TO MINORITY DEPOSITORY INSTI20 TUTIONS.—In carrying out subsection (a) with respect to 

21 minority depository institutions, the Board of Governors, 

22 the Comptroller of the Currency, the Corporation, and the 

23 National Credit Union Administration Board shall— 


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1 ‘‘(1) assign such institutions the most favorable 

2 rating with respect to the diversity and inclusion 

3 component described under subsection (a); and 

4 ‘‘(2) exempt such institutions from any examina5 tion procedures related to the diversity and inclusion 

6 component described under subsection (a). 

7 ‘‘(c) DEFINITIONS.—In this section: 

8 ‘‘(1) DEPOSITORY INSTITUTION.—The term ‘de9 pository institution’ means a depository institution 

10 or a credit union. 

11 ‘‘(2) MINORITY DEPOSITORY INSTITUTION.—The 

12 term ‘minority depository institution’ means an enti13 ty that is— 

14 ‘‘(A) a minority depository institution, as 

15 defined in section 308 of the Financial Institu16 tions Reform, Recovery, and Enforcement Act of 

17 1989 (12 U.S.C. 1463 note); or 

18 ‘‘(B) considered to be a minority depository 

19 institution by— 

20 ‘‘(i) the appropriate Federal banking 

21 agency; or 

22 ‘‘(ii) the National Credit Union Ad23 ministration, in the case of an insured cred24 it union.’’. 


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1 (b) CLERICAL AMENDMENT.—The table of contents for 

2 the Dodd-Frank Wall Street Reform and Consumer Protec3 tion Act is amended by inserting after the item relating 

4 to section 342 the following: 

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


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kjohnson on DSK79L0C42PROD with BILLS
Union Calendar No. 269 

117TH CONGRESS 

2D SESSION H. R. 2516 

[Report No. 117–355] 

A BILL 

To amend the Dodd-Frank Wall Street Reform and 

stitutions Rating System, and for other purposes. clusion component in the Uniform Financial Inbanking regulators to include a diversity and inConsumer Protection Act to require Federal 

JUNE 7, 2022 

Reported with an amendment, committed to the Comand ordered to be printed mittee of the Whole House on the State of the Union, 


kjohnson on DSK79L0C42PROD with BILLS