SECTION 342 DODD-FRANK WALL STREET

REFORM AND CONSUMER

PROTECTION ACT

REPORT TO CONGRESS 2021

FEDERAL DEPOSIT INSURANCE CORPORATION

OFFICE OF MINORITY AND WOMEN INCLUSION

Section 342 Dodd-Frank Wall Street 

Reform and Consumer Protection Act

Report to Congress 2021

Federal Deposit Insurance Corpporation

Office of Minority and Women Inclusion
IN THIS YEAR’S 

REPORT

1 A MESSAGE FROM THE DIRECTOR

3 OUR KEY INITIATIVES AND

ACCOMPLISHMENTS

 4 In Our Workforce

 6 In Our Operations

 7 Among Supervised Institutions 

 and Communities

8 OUR STRATEGIC ROADMAP

10 Culture

13 Career

30 Communication

33 Consistency

34 Community

34 Inclusive Prosperity

40 Financial Institution Diversity

42 Financial Inclusion

49 Supporting Minority Depository 

Institutions

53 CONCLUSION

55 APPENDICES

56 Appendix A: Contracting and Trend Data

60 Appendix B: Workforce Demographic 

and Trend Data

64 Appendix C: Acronyms and Terms
A MESSAGE FROM THE DEPUTY TO THE CHAIRMAN 

FOR EXTERNAL AFFAIRS AND DIRECTOR OF THE OFFICE 

OF MINORITY AND WOMEN INCLUSION

Nikita Pearson
A MESSAGE FROM THE DIRECTOR

I am pleased to present the 

2021 Federal Deposit Insurance 

Corporation’s (FDIC’s) Section 

342 of the Dodd-Frank Wall Street 

Reform and Consumer Protection 

Act Report to Congress.

This report describes our efforts to build a 

more inclusive workplace culture based on our 

diversity, equity, inclusion, and accessibility 

(DEIA) mission and values. The principles of 

DEIA inform how we interact with one another 

as employees and colleagues, and they extend 

to our interactions with supervised 

financial institutions; vendors 

we contract with; and the 

communities we serve.

In 2021, we released 

our new Diversity, 

Equity, and Inclusion 

Strategic Plan to 

help guide our 

efforts with respect 

to DEI over the 

next few years.1

Subsequently, 

we adopted 

Accessibility as 

another 

core 

 1The FDIC’s 2021-23 Diversity, Equity, and Inclusion Strategic Plan is 

 available at https://www.fdic.gov/about/diversity/pdf/dei2021.pdf.

principle, and have made it an organizational 

priority to ensure that employees have access to 

the systems and resources that will allow them 

to be fully successful.

Among other things, our Strategic Plan 

reinforces that true implementation of our 

DEIA objectives requires broad-based support 

throughout the Corporation. Beyond the Office 

of Minority and Women Inclusion (OMWI), 

each of the FDIC’s Divisions and Offices play a 

critical role in our DEIA efforts; in particular, our 

managers and supervisors, who have the dayto-day responsibilities for hiring, promoting, 

developing, and training employees.

Perhaps most significantly, the Strategic Plan 

sets forth a broad and bold view of DEIA. For the 

first time, the FDIC recognizes the bigger role we 

have within our mandate to address inequities 

in society. Where we have influence, our broader 

DEIA vision is to remove the banking system 

challenges that stand in the way of businesses, 

communities, and individuals achieving their 

full potential. The Strategic Plan is not just 

about the FDIC workforce and workplace—we 

look to improve DEIA in the banking system and 

in the communities we serve.

I am very proud of the progress we have made 

over the last year, and the remainder of this 

report discusses those accomplishments in 

greater detail. However, I and the rest of the 

FDIC leadership and workforce, recognize that 

there is much more to do. We remain committed 

to achieving all of the ambitious goals set 

forth in our Strategic Plan; to building the 

inclusive banking system of the future; and to 

maintaining stability and public confidence in 

the nation’s financial system. 
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 7

A MESSAGE FROM THE DEPUTY TO THE CHAIRMAN FOR

EXTERNAL AFFAIRS AND DIRECTOR OF THE OFFICE OF MINORITY AND 

WOMEN INCLUSION

OUR KEY INITIATIVES AND

ACCOMPLISHMENTS
4 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR KEY INITIATIVES AND ACCOMPLISHMENTS: IN OUR WORKFORCE

In Our Workforce

After a year of challenges that had a profound 

impact on how we work and live, the FDIC took 

concrete actions to build DEIA into everything we 

do. We have much work to do, but we can also 

share our progress. Highlighted below are key 

initiatives and accomplishments from 2021.

Launched new leadership development program with 

women representing 67 percent of participants.

Launched new leadership development program with 

minorities representing 60 percent of participants.

Launched the First Generation Professional Program 

with 37 participants in the first cohort. 

Launched a National Listening Tour where nearly 

1,000 employees participated to share their 

life experiences and how these perspectives 

impact them at work. Sessions focused on: 

Rural Communities, LGBTQ+, Economically 

Disadvantaged, First Generation Professionals, 

Persons with Disabilities, Veterans, Generations in 

the Workforce, Religious Beliefs, and Caregivers.

23%

Increased minority 

representation at the 

executive management 

level to 23 percent.

24%

Increased minority 

representation across 

all management level 

positions to 24 percent.

41%

Increased 

representation of 

women in the new 

entry-level examination 

position to 41 percent.
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 5

OUR KEY INITIATIVES AND ACCOMPLISHMENTS: IN OUR WORKFORCE

Expanded partnership with the Hispanic Association of Colleges and 

Universities (HACU) to cohost a Hispanic-Serving Institutions (HSI) 

Town Hall attended by 200 FDIC employees. 

Celebrated HBCU Week by hosting a career planning 

seminar with senior FDIC executives and more than 

80 HBCU Competitiveness Scholars.

Highlighted workforce diversity using social media for 

the FDIC's first public celebration of our HBCU and HSI 

graduates.

Maintained our highest favorable response rate of 

74 percent in the Inclusion Quotient (IQ) category 

since we began tracking the IQ as a part of the Office 

of Personnel Management’s Federal Employee 

Viewpoint Survey. 

Increased representation of 

persons with disabilities to 13 

percent, outperforming 2020 

results and above the 12 percent 

federal benchmark.

13%

9%

Increased veteran representation 

to 9 percent with veterans 

representing almost 13 percent 

of new hires in fiscal year 2021.

31%

Increased minority 

representation in the General 

Business and Industry 

occupation to 31 percent. 

Joined two White House Initiatives 

on Advancing Educational 

Equity, Excellence, and Economic 

Opportunity: (1) for Hispanics and (2) 

through Historically Black Colleges and 

Universities (HBCU).

Workforce (continued)
6 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR KEY INITIATIVES AND ACCOMPLISHMENTS: IN OUR OPERATIONS

$

$417M Awarded almost $417 million or 

49 percent of contracts to MWOBs.

$130M Made payments of $130 million

to MWOBs.

$14M Conducted three Pitch Day events with one 

participating MWOB being awarded a $14 million

contract.

$4M Made payments of almost $4 million to minority- and women-owned

law firms (MWOLFs) and Diverse Attorneys at majority law firms, 

representing 18 percent of all law firm contracts.

Increased the percentage of MWOLFs 

on the List of Counsel Available from 

30 to 41 percent.

30%

41%

MWOLFs

In Our 

Operations
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 7

OUR KEY INITIATIVES AND ACCOMPLISHMENTS: AMONG SUPERVISED INSTITUTIONS AND COMMUNITIES

 Partnered with the U.S. Department of the Treasury 

and the Community Development Financial 

Institutions (CDFI) Fund to provide up to $9 billion 

in funding through the Emergency Capital 

Investment Program (ECIP), as well as $3 billion in 

new grant funding for CDFIs, including $1 billion 

set aside for minority lending institutions.

 Cohosted Prospective Diverse Directors Symposium 

with the Ohio Banker League, which resulted in 

three attendees from the event being added 

to Ohio bank boards and nearly a dozen more 

entering the bank board pipeline.

 Conducted our first public awareness campaign to 

educate consumers on how banks can help them 

meet their financial needs, increasing #GetBanked 

webpage traffic to 13,748 total views in Houston 

and 8,208 total views in Atlanta.

 Worked with the Internal Revenue Service to 

promote the creation of six new Volunteer Income 

Tax Assistance (VITA) sites in South Dakota in 

counties that had no VITA presence, in preparation 

for the 2022 tax season.

Launched the first FDITECH 

tech sprint focused on the 

significant challenges of 

financial inclusion for the 

seven million unbanked 

households in America.

Among Supervised Institutions 

and Communities
OUR 

STRATEGIC ROADMAP
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 9

OUR STRATEGIC ROADMAP

Our vision is to have a workforce that is talented, 

diverse, and committed to fostering a safe, fair, 

and inclusive workplace and banking system. We 

are committed to fostering a culture that exemplifies 

teamwork, embraces innovation, and values DEIA to 

achieve mission excellence. In this report we discuss 

our efforts in terms of how they align with the five 

overarching DEIA goals outlined in the DEI Strategic 

Plan. These goals are outlined below.

The following pages lay out where we are now – the challenges we face and actions taken 

to achieve results – and where we have committed to go. We are proud to highlight our 

efforts from 2021. 

CULTURE

Ensure leaders at all levels promote the vision 

and business case for DEIA by taking actions that 

increase diversity and equity in the workforce and 

maintain an inclusive workplace.

CAREER

Recruit, hire, and develop a high-performing 

workforce that reflects and is as diverse as the 

communities we serve by optimizing experiences 

throughout an employee’s career. 

COMMUNICATION

Develop compelling messages, including 

opportunities for dialogue, that encourage all 

employees to see the importance of DEIA to their 

personal success and the success of the FDIC.

CONSISTENCY

Improve desired outcomes by strengthening 

policies and procedures, utilizing technology, and 

enhancing training.

COMMUNITY

Encourage DEIA in FDIC business activities and 

at regulated financial institutions, and foster 

financial inclusion in the banking system.

DEIA
10 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: CULTURE

No matter how strong our DEI Strategic

Plan is, its efficacy will be held back if

we do not build the proper culture. We

recognize that the work of diversity and inclusion 

does not end with increasing representation, so 

we have been intentional about creating a culture 

where everyone can feel accepted and valued, can 

be their best selves, and can do their best work. 

Fostering a culture of belonging will better position 

the agency to attract and also retain a diverse 

workforce. Our efforts focused on three areas:

Culture of Excellence. Ensuring every employee 

has the opportunity to develop and excel in 

their career, and recognizing and rewarding high 

performers.

Data Excellence. Building a results-oriented DEIA 

strategy based on actionable data.

Best Practices. Selecting and implementing DEIA 

best practices that would be most effective at the 

FDIC.

As a result of these efforts, we maintained our 

highest favorable response rate in the Inclusion 

Quotient (IQ) category since we began tracking 

the IQ as a part of the Office of Personnel 

Management’s Federal Employee Viewpoint Survey 

(FEVS). Of note, four of the five IQ dimensions 

– Fair, Open, Cooperative, and Supportive – are

also at their highest levels. However, FEVS shows

significantly different levels of engagement by

gender, race, and disability status. The following

pages list major initiatives implemented by the

FDIC in 2021 to address these areas.

1

2

3

4

5

Barrier Analysis

The FDIC completed its barrier analysis of 

the Agency and outlined the following five 

key goals as a result:

Recruiting. Address myths 

and misconceptions related to 

recruiting and diversity.

Hiring. Support recruiters, hiring 

officials, and managers with 

resources and tools to ensure 

equal opportunity. 

Talent Management. Ensure 

that feedback, opportunities, and 

awards are distributed consistent 

with criteria that support FDIC’s 

DEIA mission, values, and goals. 

Culture. Foster a work 

environment where all employees 

feel welcomed, valued, respected, 

and engaged, and can effectively 

participate and bring their unique 

talents, skills, and perspectives. 

Leadership. Position DEIA as a 

priority and mission enabler. 

In 2022, the FDIC will continue to remedy 

any policies, procedures, or practices that 

may lead to identified barriers.

CULTURE
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 11

OUR STRATEGIC ROADMAP: CULTURE

Performance Standards

The FDIC fully implemented a new performance 

review standard for all executives, managers, 

and supervisors to support the recruitment, 

hiring, development, and engagement of 

a diverse workforce. Building a culture of 

inclusion was also integrated into the criteria to 

be considered for a bonus. These actions align 

DEIA goals to compensation, similar to other 

business and strategic priorities.

Building and Sharing 

Actionable Data

The FDIC modernized its Diversity and Inclusion 

Analytics Dashboard, which provides data to 

OMWI and other Divisions and Offices to inform 

the development of DEIA plans and strategies 

and support workplace inclusion. OMWI uses 

the data to monitor DEIA progress, identify 

gaps and weaknesses, and report to senior 

leadership. Gathering and analyzing timely, 

accurate, and relevant DEIA data will drive 

targeted actions and promote accountability.

Pay Adjustment Program

In 2020, the FDIC implemented a new system 

for setting incoming employees’ pay. Related 

to the implementation of the new pay system, 

in 2021, current employees were afforded the 

opportunity to request a pay adjustment review 

to help ensure that they are paid in accordance 

with the principles underlying the new paysetting system. The FDIC worked with an 

outside consultant to define the new pay-setting 

system and the FDIC and the National Treasury 

Employees Union agreed on the parameters of 

the pay adjustment process. Approximately, 

4,900 FDIC employees were eligible for the 

review and 1,800 employees applied. Ultimately, 

more than 700 employees, or 40 percent of 

applicants, received an average pay adjustment 

of $10,048. 
12 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: CULTURE

Diverse Interview Panels

Hiring managers were asked to use interview 

panels representing diverse perspectives 

until formal guidance is developed in 2022. In 

addition, interview questions for candidates 

to fill management positions were expanded 

to assess the applicants’ commitment to DEIA 

initiatives. OMWI, along with Human Resources, 

frequently reviewed interview questions to 

ensure they were relevant to job requirements. 

Adopting these leading practices for minimizing 

potential implicit or unconscious bias in hiring 

and promotion opportunities is designed to 

bolster fairness and trust, ultimately improving 

workplace culture.

Equal Employment Opportunity 

(EEO) Benchmark Study

OMWI benchmarked other agencies’ equal 

employment programs for preventing and 

addressing discrimination and retaliation. The 

results of those benchmarking efforts will be 

implemented into our EEO program in 2022. 

It is important for employees to feel included 

and subject to the same terms and conditions 

of employment regardless of characteristics. 

Inclusion increases engagement, resulting in 

a positive impact on the agency’s culture and, 

ultimately, our ability to continue to achieve the 

FDIC mission. 

Alternative Dispute Resolution 

(ADR) Mediation

OMWI initiated measures to enhance the 

agency’s ADR mediation. In recent years, 

participation in the ADR program has been 

below the Equal Employment Opportunity 

Commission’s goal of 50 percent. OMWI 

initiated a review of the ADR process to identify 

why more employees do not opt to participate. 

OMWI is working with management officials 

and internal subject matter ADR experts to 

encourage participation, receive meaningful 

feedback from participating employees, 

and analyze mediations for ongoing process 

improvements. Upon completion of the 

benchmarking project, OMWI will develop 

and implement additional conflict resolution 

processes and procedures at the FDIC to 

improve ADR participation.

It is important 

for employees 

to feel included 

and subject to 

the same 

terms and 

conditions 

of employment 

regardless of 

characteristics. 
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 13

OUR STRATEGIC ROADMAP: CAREER

The FDIC's most valued asset is our 

workforce. We are committed to 

recruiting, hiring, and developing 

a high-performing workforce that reflects 

the communities we serve by optimizing 

experiences throughout an employee’s career. 

Data suggests that the FDIC successfully recruits 

a qualified group of diverse applicants. 

However, the same limited data shows 

racial, ethnic, and gender diversity in some 

cases decreases in the referral and selection 

process. Generally, this trend continues when 

progressing from lower to higher pay grades. 

To address these concerns, in 2021, our efforts 

focused on two areas.

Talent Acquisition 

Ensuring talent acquisition 

practices consistently 

provide equal opportunity 

and strive to narrow 

representation gaps at all 

levels.

Career Development 

Maintaining a diverse 

leadership pipeline 

including a framework 

for holding managers 

accountable for activity 

promoting career 

development and 

advancement opportunities 

for their employees.

To this end, the FDIC has taken a number of 

actions, including recruiting from all available 

talent in the labor market, providing upward 

mobility options to current employees, and 

amplifying employee engagement at all levels. 

We continued to make progress to improve 

workforce representation in our mission-critical 

occupations and senior management ranks 

by addressing the longstanding challenges of 

attracting, retaining, and advancing minorities, 

women, people with disabilities, veterans, and 

other historically underrepresented individuals 

in our workforce. However, the pace of our 

progress has been challenged by historically 

low turnover and limited opportunities for 

advancement, especially in the bank examiner 

occupation. Despite these challenges, with 

past and current efforts, the racial, ethnic, and 

gender diversity of the FDIC workforce has 

improved. 

EMPLOYEE ENGAGEMENT 

INCLUDED:

Chairman’s Diversity Advisory Councils

Employee Resource Groups

Leadership Development Programs

Formal and Informal Mentoring Programs

Coffee and Conversations on Diversity Topics

WorkLife and Employee Wellness Programs

Celebrating our Uniqueness Listening Sessions 

Chairman’s Town Hall Meetings 

AND MORE

CAREER
14 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: CAREER

At the end of 2021, minorities represented 33 

percent of the permanent workforce and women 

accounted for 44 percent. The FDIC has also 

increased diversity across leadership: minorities 

hold 24 percent of management-level positions 

(up from 22 percent in 2020). 

Furthermore, minority representation at the 

executive management level increased from 

20 percent in 2020 to 23 percent in 2021. 

While the FDIC has made progress, work remains 

to be done. We have a unique opportunity to 

further reshape the FDIC workforce given the 

acceleration of anticipated retirements and 

separations during and following the pandemic. 

Division and Office DEIA 

Operational Plans

OMWI consulted with FDIC Divisions and Offices 

about opportunities to foster and maintain 

workforce diversity and promote equal 

opportunity in recruitment, hiring, retention, 

promotions, and awards. Based on those 

discussions, Divisions and Offices developed 

DEIA operational plans featuring strategies 

tailored to their needs and circumstances. 

These plans outline strategies to make 

meaningful progress toward addressing 

representation gaps in our workforce, embed 

DEIA into our operations, and hold leadership 

and managers accountable for accomplishing 

the goals outlined in the DEI Strategic Plan. 

Talent Acquisition for 

Mission-Critical Occupations

Examiner 

A key challenge for the FDIC in promoting 

diversity at all levels of our workforce continues 

to be the ability to attract, retain, and advance 

minorities and women in our bank examiner 

workforce. The examiner occupation is 

Diverse Representation in Management Level Positions Has Increased

24% Minorities Up from 22%
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 15

OUR STRATEGIC ROADMAP: CAREER

the largest occupational group at the FDIC. 

Individuals who began their careers as entrylevel examiners tend to occupy a significant 

percentage of executive and managerial 

positions in the agency, as well as other 

non-examiner leadership positions. Thus, 

representation rates within the examiner 

workforce are key to achieving equitable 

representation across the broader 

FDIC workforce. 

Historically, our ability to attract and retain 

examiners has been impacted by a number of 

factors, including high travel, more than 80 office 

locations in smaller cities with frequent travel 

to institutions in rural areas, and low turnover. 

The average tenure of an FDIC employee is 25 

years. While this means that the FDIC is rich in 

experience and institutional knowledge, it can 

also result in limited promotional opportunities 

for others. 

We found during the pandemic that we can 

use technology to reduce travel by maintaining 

smaller on-site teams and larger off-site teams 

to support bank examinations. We have already 

cut the length of our examiner training program 

by nearly a year, and using virtual tools has 

further cut examiner travel requirements. We 

supplemented these efforts by providing paid 

parental leave and supporting student loan 

repayment programs for our examination 

workforce. 

We also enhanced recruitment initiatives 

for the examiner workforce with the FDIC’s 

Minority Recruitment Task Force (MRTF). The 

MRTF assists in developing and implementing 

tailored strategies to improve the FDIC’s 

diversity recruitment efforts at select colleges 

and universities and targeted job fairs. During 

the summer of 2021, the MRTF expanded to add 

nine minority-serving institutions to the original 

15 targeted schools for a total of 24 colleges and 

universities. 

Staffing a diverse group of FDIC employees at 

recruitment events can help appeal to a broader 

pool of potential candidates. To encourage 

employee participation in recruitment efforts, at 

the onset of 2021, the FDIC’s MRTF sought ways 

to partner with the agency’s Employee Resource 

Groups (ERGs). We included ERG members at 

recruiting events to highlight authentic career 

journeys and inspire students and growing 

professionals, as well as to educate ourselves 

about the needs of the incoming workforce.

Due to pandemic-related restrictions, all 

recruitment activities were conducted virtually 

in 2021. MRTF recruiters continued to implement 

creative strategies to target minority students 

and increase the diversity of applicants for the 

FDIC’s major occupations, including the EntryLevel Examiner Hiring Program. 

“

The task force has 

enabled recruiters to 

identify creative ways 

to attract diverse talent, 

and has allowed us to 

implement strategies that 

are specific to our region’s 

needs and goals. 

Drew Lynch

Case Manager, Kansas City

“
16 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: CAREER

MRTF recruiters participated in several 

recruitment activities, including panel DEIA 

discussions, “Day in the Life” podcasts, money 

management clinics, federal resumé writing 

workshops, and joint information sessions 

with university career services offices to help 

students develop career readiness and navigate 

the federal application process. 

Women representation in new entry-level 

examiner hiring increased from 40 to 41 percent. 

However, minority women representation in 

the examiner workforce remains below the CLF 

We will continue to leverage the available labor 

pools to address underrepresentation among 

minority women (see Appendix B).

Economist

One-third of FDIC economists are minorities and 

one-third are women. The FDIC’s Division of 

Insurance and Research (DIR), which employs 

the majority of the FDIC’s economists, has 

sought to enhance its recruiting by targeting 

schools with higher numbers of minorities and 

women in economics and finance majors. 

We also continue efforts to expand gender 

diversity within the applicant pool, and we 

expect those efforts to bear fruit moving 

forward.

In 2021, DIR’s Center for Financial Research 

(CFR) hosted students from two programs 

designed to advance the participation of 

women and underrepresented minorities in 

the economics profession: the FDIC Summer 

Research Fellows Program and the American 

Economic Association (AEA) Summer Training 

Program (AEASP). 

Four students joined the CFR under the second 

annual Summer Research Fellows Program, 

which targets doctoral candidates who have 

completed their qualifying examinations and 

have well-developed research toward finishing 

their doctorate. Through the program, these 

emerging scholars learned about the work of 

the agency’s economists while continuing their 

dissertation research. 

Minority and Women 

Representation in the 

Examiner Workforce

MINORITIES

WOMEN

21%

39%

22% 22%

40% 40%

2019 2020 2021
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 17

OUR STRATEGIC ROADMAP: CAREER

The FDIC also partnered with Howard University, 

an HBCU, on the development of the AEA 

experiential learning program. For the first 

time in the program’s history, the AEA involved 

experiential learning partners in the delivery of 

the program, allowing students an opportunity 

to complete a research project under the 

mentorship of professional economists, and 

to provide enriching, real-world experiences 

unique to the nation’s capital. The two student 

interns were each paired with an FDIC employee 

mentor as part of the experiential learning 

program.

We believe these programs will demonstrate 

to stakeholders the FDIC’s interest in and 

commitment to a diverse workforce and make 

our goal of a diverse workforce a reality.

“The AEA Summer Program 

had everything I was looking 

for because you can take 

graduate-level classes, which 

is a unique experience because 

not many colleges allow you 

to do that. Also, the notion of 

trying to diversify the field of 

economics was really cool to 

me because economics isn’t a 

very stratified field right now, 

and to be able to spend the 

summer with so many peers 

who come from such rich and 

diverse backgrounds 

was really cool.

SeSe Nguyen

AEA Summer Program Intern

“

One-Third of the FDIC's 

Economists are Minority 

and One-Third are Women

MINORITIES

WOMEN

29% 29%

34% 33% 33% 33%

2019 2020 2021
18 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: CAREER

General Business and Industry

The General Business and Industry occupation 

includes staff that carry out bank resolution 

and receivership activities. The majority of 

employees in this occupational series work 

in the FDIC’s Division of Resolutions and 

Receiverships (DRR).

The FDIC continues to improve minority 

representation in this occupation consistent 

with the civilian labor force (CLF), particularly 

among women and minorities. (See Appendix B.) 

One example is DRR’s continued participation 

in the Recent Graduates Program. This program 

enables DRR to hire entry-level candidates into 

career ladder positions. 

In addition to providing a means for succession 

management, the program allows candidates 

the opportunity to use their new skills to 

help improve existing business processes. 

Candidates in 2021 were a diverse group with 

different ethnic backgrounds, genders, and 

veteran status.

Expanding External Partnerships

The FDIC has many long-standing partnerships 

with professional organizations that support 

the leadership development of persons from 

historically underrepresented groups. We 

work with organizations such as the National 

Association of Black Accountants, the 

Association of Latino Professionals for America, 

and the National Association of Asian American 

Professionals. Throughout 2021, the FDIC’s 

Corporate Recruitment Program extended 

relationships with these organizations to 

provide personal and professional mentorship 

to its members. Specifically, the FDIC hosted 

a variety of programs with focused efforts on 

leadership, financial management, and DEIA. 

These organizations provided insight into 

the obstacles that they believe continue to 

hinder the employment and advancement of 

their members into senior-level positions. We 

used this information to structure our annual 

engagement to increase support of these groups 

and ensure they are represented within our 

corporate talent pipeline. 

Minority Representation 

Continues to Improve in 

the General Business and 

Industry Occupation

MINORITIES

WOMEN

26%

34%

29%

31%

35% 35%

2019 2020 2021
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 19

OUR STRATEGIC ROADMAP: CAREER

To expand diversity recruitment awareness 

across the FDIC and reinforce efforts to gain 

advocacy at the executive level, the FDIC hosted 

several speaking engagements in 2021. These 

events provided an opportunity to inspire 

diverse students and aspiring professionals to 

pursue executive leadership opportunities in the 

federal government. Collectively, we were able 

to reach hundreds of individuals through events, 

including:

 National Black MBA Association HBCU Crash 

Course: “Keys to Building Your Personal Brand 

Effectively” for African American undergraduate and graduate students (February 2021)

 Prospanica Leadership Summit: “Putting 

Intentions into Practice: Power up your DEI 

Initiatives” for ERG leaders and Latino business professionals (March 2021)

 National Association of Black Accountants 

Post-Convention Student webinar: “Developing Career Ambition” for African American 

undergraduate and graduate students (June 

2021)

 Association of Latino Professionals for America 2021 Convention Student Bootcamp: 

“Banks, You, and Community Development” 

for Hispanic undergraduate and graduate 

students (July 2021)

 Ascend Pan-Asian Leaders Student Café 

Workshop: “Turning Career Ambitions into 

Accomplishments” for Pan-Asian American 

students (September 2021)

 Prospanica Post-Conference Professional Development Session: “Professional Networking 

as a Minority: Different Identities, Different 

Lessons” for Hispanic undergraduate and 

graduate students (September 2021)

 Thurgood Marshall Leadership Institute: 

“The Relationship between Your Money, 

Your Decisions and Your Financial Health” 

for African American undergraduate and 

graduate students (October 2021)

 Accounting & Financial Women’s Alliance 

Women Who Count Conference - Young 

Professionals Event: “Dare to Lead: Getting 

out of your own way!” for professional 

women of varying age groups (October 2021)

 Hispanic Association of Colleges and 

Universities (HACU) ¡Adelante! Leadership 

Institute Workshop: “First, But Not Alone: 

Thriving as a First Generation Professional” 

(October 2021) 

Revamping Hispanic/Latino 

Outreach and Recruitment 

The FDIC continues to have underrepresentation 

of Hispanic/Latino employees. While we 

have made incremental improvements, we 

are closely monitoring the representational 

rates of Hispanic/Latino employees, and are 

implementing initiatives which seek to increase 

representation.

In 2021, the FDIC began development of an 

agency-wide Hispanic/Latino Recruitment 

Strategy. The Corporate Recruitment Program, 

OMWI, and the Hispanic Organization for 

Leadership and Advancement (HOLA) ERG 

Board of Directors collaborated on planned 

initiatives to: 

 Increase our potential candidate pipeline of 

Hispanic/Latino students from high school to 

college, 

 Create new partnerships and strengthen 

existing partnerships with Hispanic/Latino 

organizations, and 

 Increase retention rates and engagement of 

Hispanic/Latino employees. 
20 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: CAREER

The FDIC also partnered with the Hispanic 

Association of Colleges and Universities 

(HACU) to cohost the inaugural HispanicServing Institutions (HSI) Week in September 

2021. Throughout the week, panelists shared 

ways to proactively source candidates from 

underrepresented communities, and discussed 

the importance of DEIA hiring initiatives and 

the critical role allyship plays in achieving an 

inclusive work environment. More than 200 

FDIC employees participated, including staff that 

moderated and provided closing remarks.

As a result of our participation, the FDIC is 

expanding its relationship with HACU on a 

new Black, Indigenous, and People of Color 

(BIPOC) initiative, which seeks to build financial 

capability and economic empowerment, 

focusing on HSIs and other Hispanic-serving 

organizations. The FDIC will also participate in 

HACU’s National Internship Program and provide 

financial education to participating students 

utilizing the FDIC’s Money Smart financial 

education curriculum as part of an inaugural 

professional development series.

We also led four powerful professional 

development programs with Hispanic students 

and professionals to spur interest in internship 

and career opportunities in the FDIC:

 During the Prospanica Leadership Summit, 

two FDIC executives led a discussion on 

leading with accountability and social responsibility to develop actionable DEI strategies. 

The executives shared what the FDIC is doing 

to reshape its infrastructure so that it reflects 

a shared commitment to improve inclusion. 

Participants, most of whom represented ERGs 

from private- and public-sector organizations, 

learned how to facilitate conversations to 

identify and reduce barriers toward achieving 

genuine inclusive practices. At the post-conference professional development session, 

FDIC professionals shared their challenges 

and wins in building lasting connections 

through leadership networking. Minorities often lack access to informal networks, creating 

unique challenges to enter spaces in which 

they are underrepresented. This workshop 

provided tools to overcome some of the biggest challenges when it comes to networking, 

such as getting started, maintaining relationships, and having purposeful conversations.

 The FDIC participated in the Association of 

Latino Professionals for America’s (ALPFA’s) 

week-long Student Bootcamp. Our session 

featured six Hispanic/Latino employees in the 

Community and Consumer Affairs Branch and 

a senior leader who taught the FDIC Money 

Smart financial education curriculum, promoted careers in banking, and encouraged 

the audience to consider ways to impact their 

communities through wealth building. Students learned about community banking and 

the role of the FDIC in the banking industry.

 At the HACU Annual Conference, FDIC representatives from the Legal Division, Community and Consumer Affairs Branch, and Human 

Resources Branch participated in a workshop 

to provide their perspectives as first-generation professionals. Students received encouragement as well as best practices to help 

them thrive personally and professionally.

The FDIC is expanding its 

relationship with HACU on a new 

Black, Indigenous, and People 

of Color (BIPOC) initiative which 

focuses on financial capability 

and economic empowerment 

targeting HSIs and other 

Hispanic-serving organizations.
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 21

OUR STRATEGIC ROADMAP: CAREER

In 2022, the FDIC will establish an executive 

level taskforce to develop and implement a 

robust strategy to strengthen Hispanic/Latino 

recruitment and retention.

Strengthening Engagement with 

Historically Black Colleges and 

Universities

The FDIC is building a strong partnership 

with the White House Initiative on Advancing 

Educational Equity, Excellence and Economic 

Opportunity through Historically Black Colleges 

and Universities (WHI-HBCUs). In 2021, we 

demonstrated our commitment to engaging with 

HBCUs through significant participation in the 

annual HBCU Week Conference. Among other 

efforts, we hosted a fireside chat for WHI-HBCU’s 

Competitiveness Scholars that featured several 

FDIC executives, including the agency head, who 

discussed the importance of FDIC examination 

work in ensuring economic inclusion and safe 

banking practices. Additionally, members of 

our Human Resources Branch shared pertinent 

information about the federal employee 

application process and opportunities within 

the FDIC for students. In 2022, we will expand 

our engagement with HBCUs by leading a 

masterclass session on entrepreneurship for the 

Competitiveness Scholars.

The FDIC is engaging HBCUs beyond 

collaboration with the WHI-HBCUs. In 

September 2021, we hosted a webinar focused 

on HBCUs in Texas. Presenters from each 

participating HBCU discussed the history of the 

institution, current partnerships with financial 

institutions or faith-based organizations, 

opportunities for other financial institutions to 

collaborate with the institution, and an alumni 

perspective about attending an HBCU.  FDIC 

Human Resources Branch also discussed 

internship and recruiting opportunities. 

Our Corporate Recruitment Program also 

coordinated the FDIC’s participation in two 

additional events for HBCU students and 

alumni: the HBCU Career Marketplace Virtual 

Conference and Career Fair and the WHI-HBCUs 

first-ever Virtual Recruitment and Career Fair. 

Through our participation, we identified several 

candidates for positions within our entry-level 

examiner ranks. We also identified candidates 

for our Legal Division and Chief Information 

Officer Organization through internship 

programs specific to those divisions.

Bolstering Efforts to Attract Veterans 

and Persons with Disabilities

The FDIC recognized a need to enhance our 

outreach and hiring efforts towards veterans and 

persons with disabilities, and identified specific 

steps for immediate improvement. 

“I had the pleasure of speaking 

to the White House Initiative 

on Historically Black Colleges 

and Universities. Sharing my 

journey and experiences with the 

scholars was an extremely rewarding 

experience. While pursuing my Juris 

doctorate and M.B.A., I was selected 

to be a White House Initiative on 

Historically Black Colleges and 

Universities Competitiveness 

Scholar. I thoroughly enjoyed 

the opportunity to give 

back to the program. 

Christian King

Legal Honors Program, Legal Division

“
22 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: CAREER

Through partnerships with the Department 

of Veterans Affairs Work Experience 

Program, Transition Assistance Program 

offices in various military bases, Recruit 

Military, MBA Veterans Network, and 

Corporate Gray, we interacted with 

more than 100 veterans, transitioning 

military members, and military spouses 

to provide information on the education 

and experience required to qualify for FDIC 

opportunities. 

We also identified initiatives for 

implementation in 2022, including a 

partnership with the Department of 

Defense SkillBridge Program for internship 

opportunities among transitioning service 

members and the U.S. Department of 

Veterans Affairs’ Work Experience Program 

for veterans after separation. 

On a weekly basis, the FDIC’s Human 

Resources Services Center provides FDIC 

vacancy announcements to multiple 

sources that target persons with disabilities, 

including Vocational Rehabilitation Agencies in 

several states, the DC Department of Disability 

Services, Career Opportunities for Students 

with Disabilities, disABLEDPerson.com, Virginia 

Department for the Blind and Vision Impaired, 

and Corporate Advocacy Network for Disability 

Opportunities (CAN DO), an FDIC ERG. We also 

advertise open positions and distribute targeted 

email campaigns with the American GI Forum, 

Corporate Gray, Operation Warfighter, Recruit 

Military, and VetJobs. 

Additionally, 25 percent of 2021 diversity 

outreach events coordinated by our Corporate 

Recruitment Program specifically targeted 

persons with disabilities. In 2021, nine 

percent of our workforce were individuals with 

disabilities and 13 percent of new hires were 

veterans.

Expanding the Talent Pipeline 

through Paid Internships

In 2021, the FDIC continued to make strategic 

use of internships to develop the next generation 

of talent. Corporate recruiters participated 

in more than 400 campus recruiting events to 

identify talent for the Entry-Level Examiner 

Hiring Program, during which they discussed 

the educational requirements for the program, 

and provided tips on federal application success. 

As a result of our recruitment efforts, we hired 

a total of 50 Financial Management Scholar 

Interns in 2021.

The FDIC Student Intern Program gives 

students an opportunity to gain valuable work 

experience, while also providing opportunities 

to enhance their professional development and 

acquire the skills to succeed in their career. 
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 23

OUR STRATEGIC ROADMAP: CAREER

Throughout the annual Student Intern 

Program, the interns are asked to complete 

anonymous surveys about their satisfaction 

and the relevance of the topics covered in the 

workshops, training, and activities. Interns can 

provide general feedback about the program 

administration and programming as a whole. 

The intern programming is redesigned each 

year to address changes to the needs, goals, and 

interests of the FDIC’s interns.

Additionally, the FDIC participated with the 

Office of the Comptroller of the Currency and 

the Department of Energy in a workshop to 

reach students from inner-city high schools 

in Washington, DC. The program aimed to 

allow students to acquire first-hand experience 

working alongside employees of various 

disciplines within the organization and expand 

their understanding of financial literacy and 

entrepreneurship. 

We received many positive comments from 

the students, who were curious to hear more 

from the panelists and indicated that the 

entrepreneurship workshop was of great benefit 

and interest to their career goals.

Summer Scholars Student 

Internship (SSSIP) Program

In 2021, FDIC hired a total of six interns (four 

high school and two collegiate), as a part of 

the inaugural SSSIP program. The SSSIP was 

offered in partnership with the District of 

Columbia Department of Employment Services’ 

Marion S. Barry Summer Youth Employment 

Program. The program provided District 

of Columbia high school students with an 

opportunity to gain practical and professional 

work experience, increase knowledge about 

careers in the financial sector and the federal 

government, and explore career paths related to 

their professional interests. 

All interns participated in weekly enrichment 

activities designed to expand their knowledge, 

develop meaningful skills, and engage in critical 

thinking. Interns closed out the program with 

the completion of a capstone project and 

presentation. 

Program feedback from interns and FDIC 

employees was overwhelmingly positive. A 

standout high school participant was invited 

to intern within the Legal Division during the 

school year.

First Generation 

Professionals 

In June 2021, the FDIC launched its First 

Generation Professionals Program (FirstGen), an 

initiative to provide workplace support to these 

professionals. The FirstGen Program intends to 

build an inclusive community, address barriers 

for its members, and address challenges with 

practical and research-based answers from 

subject experts. 

The format is a peer-to-peer experience that 

allows members to receive direct support 

from volunteer Ambassadors focused on 

tailoring professional and/or personal 

goals. The program serves as a conduit to 

assist participants to create a positive work/

life balance for employees. In 2021, 37 FDIC 

employees participated in the program.
24 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: CAREER

Career Development

Increasing Diversity in Leadership

In 2021, the FDIC launched two new leadership 

development programs to build a diverse pool of 

internal candidates for future management and 

leadership positions. 

The programs enhance the agency’s successionplanning efforts and support employees’ 

interest in advancing to management roles. To 

ensure an equitable opportunity to participate, 

the programs were broadly advertised and 

employees were strongly encouraged to 

apply. The FDIC also expanded access to 

other career-enhancing opportunities. We 

have seen more minority representation in the 

overall workforce and executive management. 

However, there has not been significant progress 

in the representation of women in executive 

management.

124 Total FDIC Executive Level Managers

of Executives 

63%

are MEN

of Executives 

37%

are WOMEN

of Executives

23%

are MINORITIES

of Executives are 

77%

NON-MINORITIES

Minority Representation at Executive Level (by Race)

Minority Representation in Overall 

Workforce vs. Executive Level

Women Representation in Overall 

Workforce vs. Executive Level

30%

17%

31%

20%

32%

23%

 2019 2020 2021

 Overall Workforce Executive Level

45% 45% 44%

38% 37% 37%

 Overall Workforce Executive Level

 2019 2020 2021

Black or

African American

Asian

Hispanic or Latino

Two or More Races

77.4% Non-Minority

12.1%

4.8%

4.0%

1.6%
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 25

OUR STRATEGIC ROADMAP: CAREER

Expressions of Interest (EOIs)

The process for applying to details and 

temporary promotions has been enhanced 

to be more fair, open, inclusive, and support 

employees’ career aspirations. Two key reforms 

were implemented in 2021. First, there is now 

no requirement to obtain prior supervisor 

approval to apply for an EOI, empowering 

employees to pursue the career development 

opportunities that are the best fit for them. 

Second, selecting officials must now prioritize 

the selection of qualified candidates that have 

not recently been on temporary development 

assignment in the last 12-month period. By 

emphasizing the importance of considering 

employees who have not recently been on 

temporary assignments, a broader group of 

employees will be afforded the opportunity to 

gain greater career experience. 

These changes are intended to encourage more 

employees to participate in the EOI program, 

allowing them to explore opportunities across 

the organization, learn new skills, expand 

their FDIC network, learn more about how the 

different Divisions and Offices contribute to the 

FDIC mission, and ultimately, to build a strong 

and inclusive FDIC workforce. 

Rotational Special 

Assistant Program 

In 2021, the FDIC launched a new annual 

Special Assistant Rotational program. Program 

participants serve as Special Assistants to 

executives, specifically, Division Directors, 

Deputy Directors, and Regional Directors across 

the Corporation. The program is designed to 

increase diversity in the agency’s leadership 

by providing general exposure to Division 

and Office operations at the senior level and 

cross-functional experience, encouraging a 

culture of excellence that supports and sustains 

high performance, and promoting career 

development and succession management 

at the FDIC. Twenty-three Special Assistants 

were placed through the program. Throughout 

the year, the Special Assistants will participate 

as cohorts in quarterly training events, and 

individual and specific courses which will 

culminate with a capstone activity. 

Leadership Excellence 

Acceleration Program

In 2021, the FDIC established the Leadership 

Excellence Acceleration Program (LEAP) to 

develop the next generation of leaders with a 

corporate-succession management focus to 

increase DEIA in the FDIC’s leadership. LEAP 

prepares non-supervisors to be “day-one ready” 

when entering first-line management ranks, 

through participation in management training 

courses and developmental assignments. 

Participants are provided the training in 

preparation for future promotion opportunities. 

In 2021, there were 15 LEAP program selectees, 

with minorities representing 60 percent and 

women representing 67 percent. 

Executive Management 

Shadowing Rotational Program 

The FDIC’s Legal Division faces a potential 

retirement wave. To address this, the Legal 

Division is implementing a process to transfer 

knowledge in a sustainable way by offering 

opportunities for employees to cross-train 

and increase their visibility in the organization 

through supporting management on highprofile projects.

In 2021, the Legal Division piloted the Executive 

Management Shadowing Rotational Program, a 

60-day detail assignment. 
26 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: CAREER

The program’s first pilot cycle ran from 

April through June 2021, and featured two 

partnership teams each comprised of a “guest” 

and a “host.” The program gave participants 

full-scale exposure to and inclusion in the work 

of executive management through meetings 

with the General Counsel, Deputy General 

Counsels, managers and senior staff of the Legal 

Division, and members of the FDIC management 

team outside the Legal Division. In addition, the 

partnership teams were able to work through 

legal matters together, collaborate to clarify and 

devise management and personnel strategies, 

and gain new perspectives from each other’s 

viewpoints. The program participants also took 

part in training and coaching sessions geared 

toward leadership and management styles, time 

management, executive communication, and 

shadowing best practices. There was a second 

cycle of participants in the fall of 2021, and the 

program’s third cycle is running from March 

through June 2022 with an expanded 90-day 

detail assignment for three participants. 

Mentoring Programs

The Corporation-wide Mentoring Programs 

support the agency’s succession-planning efforts 

by providing networking opportunities, allowing 

employees to explore and learn of available 

career paths, and facilitating the transfer of 

organizational knowledge from one employee 

to another. The FDIC took a number of steps 

to promote further diversity and inclusion 

in the workplace in 2021, by re-evaluating 

and implementing changes to the eligibility 

criteria for the FDIC and Leadership Mentoring 

Programs. Previously, employees had to wait 

five years before they were eligible to re-apply 

as a mentee in the FDIC Mentoring Program. 

We decreased that period to three years, with 

the additional ability to re-apply earlier than 

three years if participants had a permanent 

change to their grade level or job series since 

the last time they participated. To simplify the 

application process and remove a potential 

barrier, for the first time, supervisor approval is 

no longer required on the applications of nonsupervisory employees. The capacity of the 

FDIC Mentoring Program has been increased 

by 50 pairs of participants, now allowing 125 

partnerships (or 250 participants) per year. In 

2021, the representation of women mentees was 

47.1 percent, which is above the representation 

rate of female FDIC employees. In addition, 23.5 

percent of mentees were minorities.

DRR launched an informal mentoring program 

in 2020. It is open to all DRR employees, with 

the targeted DEIA goals of open discussion 

and relationship building between managers 

and employees, providing access to managers 

through informal networking, promoting 

diversity in the DRR culture, furthering DRR 

strategic efforts to recruit and retain employees 

from diverse groups, and strengthening 

succession-planning efforts. Participation 

grew in 2021 to 48 participants from across the 

Division of different grade levels, backgrounds, 

and expertise. 

Feedback indicated that 93 percent of 

participants rated the quality of their experience 

as good or excellent. Ninety-seven percent 

of participants rate the usefulness of the 

program as good or excellent, and 100 percent 

of participants indicated they had achieved 

personal gain by participating.

Employee Engagement

The FDIC believes that an inclusive culture 

and an appreciation of work/life balance leads 

to a positive work environment that provides 

an equitable opportunity for all employees to 

reach their full potential. For these reasons, 

throughout 2021, the FDIC continued to engage 

employees through programming and initiatives 

designed to promote an inclusive culture. 
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 27

OUR STRATEGIC ROADMAP: CAREER

Employee-Led Councils 

and Groups

The Chairman’s Diversity Advisory 

Councils (CDACs) and ERGs provide 

employees’ perspectives on DEIA 

issues and help foster a culture of 

inclusion. They give voice to broadbased employee views on DEIA 

issues, and provide a supportive 

environment that allows employees 

to network and collaborate on 

career and personal development 

goals. There are seven CDACs: one 

in each of the FDIC regions and one 

at headquarters in Washington, DC.

During 2021, the CDACs partnered 

with OMWI and several ERGs on 

monthly observance events for 

Black History Month; Women’s 

History Month; Lesbian, Gay, 

Bisexual, Transgender, and Queer+ 

(LGBTQ+) Pride Month; Native 

American Heritage Month; and 

Hispanic Heritage Month. 

In addition, organizations 

partnered with OMWI to address 

issues affecting employees during 

mandatory telework, including 

mental health awareness, social 

isolation, and stress management. 

The groups also held events based on such 

topics as allyship, understanding differences 

(e.g., gender identities), the importance of 

pronouns in the workplace, and embracing 

emotional intelligence.

The OMWI Director communicates to all new 

employees about the CDACs and ERGs to raise 

visibility and encourage participation, and 

the FDIC’s Regional Directors also encourage 

employee participation in these organizations 

and actively promote group events. 

OMWI partnered with employee-led groups on 

diversity events and programs throughout the 

year. Further, CDACs are invited to participate 

in annual DEIA discussions with the Diversity 

Executive Advisory Council, which includes the 

FDIC Chairman.

FDIC ERGs are an invaluable resource for the 

workforce. Through their activities, employees 

benefit by increased cultural competency, 

enhanced collaboration in the workplace, 

and heightened awareness of issues affecting 

employees. 

The FDIC 

Has Nine Employee 

Resource Groups (ERGs):

Association of African American 

Professionals (A3P)

Corporate Advocacy Network for Disability 

Opportunities (CAN DO)

Heritage of Asian American Pacific Islanders 

(HAAPI)

Hispanic Organization for Leadership 

and Advancement (HOLA)

Innovation Meetup (IM)

Networking Inclusion and Advancement for 

African American Women: African American 

Women with a Purpose (NIA Women)

Partnership of Women in the Workplace 

(POWW)

PRIDE

Veterans Employee Resource Group (VERG)
28 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: CAREER

The ERGs also provide opportunities for 

employees to better understand unique 

challenges which diverse groups may face.

During 2021, FDIC leadership met with ERG 

representatives to discuss FDIC activities with 

regard to DEIA issues. For instance, with the 

rise in violence against the Asian American 

and Pacific Islander (AAPI) community, the 

FDIC has taken significant steps to create a 

safe place for its AAPI employees through 

increased engagement with the Heritage for 

Asian American and Pacific Islander (HAAPI) ERG 

leadership. Members of the senior executive 

team hosted a listening session with a group of 

HAAPI members to share personal stories about 

workplace issues faced by AAPIs and potential 

solutions to address these issues. 

This session opened up further dialogue 

opportunities with FDIC senior management 

about the workplace dynamics and treatment 

of its AAPI employees. It has also led to the 

development of several initiatives suggested by 

HAAPI members and ongoing efforts to address 

the remaining suggestions. 

The ERGs also hosted agency-wide events 

throughout the year to help promote cultural 

competency among the larger FDIC community. 

A3P collaborated with HAAPI, HOLA, NIA 

Women, and POWW to host two DEIA events 

on “Challenges Faced by Ethnic Minorities in 

the Workplace: A Dialogue on Breaking Down 

Barriers.” 

The events aimed to educate and share diverse 

perspectives about the life experiences of 

those who are not members of the majority 

group. Creating a safe environment to share 

these stories is important to maintaining an 

environment where everyone can feel welcome 

and able to contribute to the agency’s success.

FDIC Cookbook

This year for the first time, we celebrated the rich 

diversity of our workforce and our community 

spirit through a collaborative cookbook, entitled

FDIC Community Table: United We Cook—a 

compilation of our employees’ treasured 

family recipes. It is the story of the FDIC, of 

the individuals and their unique backgrounds, 

experiences, and perspectives that collectively 

make this organization great. The COVID-19 

pandemic has given us all a renewed 

appreciation for family, friends, and co-workers. 

At the FDIC, a unique collective diversity makes 

our workforce strong, effective, and vibrant. 

Worklife Program

The Worklife Program offers webinars that aim 

to help employees achieve a healthy work/

life balance. The webinars support employees 

at different stages of their lives and careers, 

with topics including mental health, stress, 

parenting, elder care, retirement planning, 

financial wellness, estate planning, organization, 

and time-management skills. In 2021, Worklife 

delivered 56 webinars with an average 

attendance of 140 people. Additional webinars 

provided support for employees and their family 

members coping with COVID-19.

The FDIC also hosted a Self-Care Conference 

focused on employee needs and overall 

wellness. Because of the increased screen time 

for many employees, the conference featured 

a session on healthy eye care and setting up 

your home office to reduce ergonomic-related 

injuries. More than 500 employees participated 

in the Self-Care Conference. In addition, clinical 

counselors are available on a weekly basis for 

virtual sessions. The sessions are for employees, 

their loved ones and family members. 

Employees can also receive a referral to seek 

external clinical counseling up to six sessions per 

issue in their local area.

30 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: COMMUNICATION

As we have worked to implement our 

DEIA strategies we have identified 

oopportunities to more effectively 

communicate the intent and rationale for DEIA 

as a mission enabler. We must be transparent 

about our efforts, the importance of DEIA, and 

how employees contribute to achieving DEIA 

goals. Also, it is important that we create an 

opportunity for employees to share their stories 

and experiences as we foster an inclusive work 

environment. 

The following details the communication goals 

achieved during 2021. 

National Listening Tour: 

Celebrating Our Uniqueness

We all have unique experiences, backgrounds, 

and characteristics—both seen and unseen—

that influence how we engage with one another 

in the workplace. In 2021, OMWI launched 

a discussion series during which employees 

shared their life experiences and discussed 

how these perspectives affect them in the 

workplace. The sessions covered topics on: 

Rural Communities, LGBTQ+, Economically 

Disadvantaged, First Generation Professionals, 

Persons with Disabilities, Veterans, Generations 

in the Workforce, Religious Beliefs, and 

Caregivers. Nearly 1,000 employees participated 

in nine sessions.

Division and Office 

Listening Sessions

Throughout the year, Divisions and Offices 

continued to host their own listening sessions to 

encourage employees to share their experiences 

and perspectives. For example, DRR sponsored 

two new initiatives to increase avenues for 

employees to connect across differences. First, 

the “DRR Let’s Connect!” pilot was launched. 

DRR employees were invited to participate in 

conversations in an inclusive environment where 

they were encouraged to talk about themselves, 

their experiences, careers, or background. The 

conversations led to discovering commonalities, 

To accomplish our 2021 

Communication Goals, 

we focused on three areas:

Trust through Transparency

Provide clear, consistent, and 

regular messaging of the DEIA 

vision and actions being taken to 

achieve desired outcomes.

Branding

Use meaningful context to 

turn DEIA data into compelling 

narratives that make messaging 

more impactful and demonstrate 

the necessity for continued 

efforts in DEIA.

Reinforcement

Integrate DEIA into 

communications.



COMMUNICATION
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 31

OUR STRATEGIC ROADMAP: COMMUNICATION

which helps promote inclusion in the workplace. 

DRR employees from across the organization 

and management were randomly grouped to 

participate in discussions. A second initiative, 

Small Diversity Dialogue Groups, promoted 

engagement and inclusion in DRR through open 

dialogue around DEIA. Each session consisted 

of approximately 10 employees, with one 

designated as facilitator and discussion leader, 

creating a safe space for employees to share and 

exchange ideas with the purpose of building 

greater understanding.

The Legal Division senior leadership instituted 

“virtual drop-in” hours. These are hours when 

employees may reach out to management to 

chat about issues, ask questions, or catch up. 

Senior leadership encourages managers to set 

aside designated hours to meet with their direct 

reports. Particularly when operating in a virtual 

environment, these sessions can help maintain 

employee engagement. Division and Office 

leaders plan to continue these efforts in 2022.

Leveraging Social Media

The FDIC engaged in several efforts to raise 

awareness of both internal and external 

audiences about the agency’s commitment to 

DEIA efforts. For the HBCU Week and the HSI 

Week Town Hall events, we developed a series of 

marketing materials featuring important HBCU 

and HSI statistics and the FDIC’s involvement 

with DEIA initiatives in both English and 

Spanish. These materials were shared on social 

media platforms, including Facebook, Twitter, 

Instagram, and LinkedIn with the #teamfdic 

hashtag. We also developed two videos 

featuring FDIC employees who attended HBCUs 

and HSIs to increase visibility and awareness of 

the impact HBCUs and HSIs have had on FDIC 

employee achievement. The FDIC’s social media 

posts feature a diverse group of FDIC employees 

and many posts are also published in Spanish.

Promoting Equal Access for 

People with Disabilities

The year of 2021 proved to be an exciting year 

for the FDIC’s Section 508 program. Named for 

Section 508 of the Rehabilitation Act of 1973, 

the program works to make electronic and 

information technology accessible to people 

with disabilities. As the agency pivoted towards 

100 percent telework, the need for accessible 

technology became more imperative. The 

Section 508 Compliance team and the Disability 

Program worked with the Chief Information 

Officer Organization (CIOO) to prioritize and 

deliver necessary Microsoft Teams features to 

employees with disabilities. 

Accessibility features made available included: 

automated captioning, meeting conference 

bridge phone numbers to allow for contracted 

American Sign Language interpreters to 

phone in, the ability to “pin” the video feeds of 

interpreters, and participant spotlighting. These 

features were added to the MS Teams meeting 

platform for all FDIC employees to utilize in their 

virtual work environments.

In addition, the FDIC Section 508 Compliance 

team hosted a series of educational events 

open to all employees, as part of an awareness 

campaign called “Mission Accessible.” The 

campaign emphasized the need to provide 

equal access to information for people with 

disabilities. These events were conducted 

between September 28 and October 21 to 

coincide with observing National Disability 

Employment Awareness Month in October. 

The Mission Accessible campaign included 

sessions on Awareness of Section 508 of the 

Rehabilitation Act, Document Accessibility, 

Section 508 Testing Tools, Accessibility for Adobe 

Experience Manager, and Ask Us Anything.
32 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: COMMUNICATION

The FDIC Section 508 Compliance team 

leveraged third-party technology to create and 

implement a portal for its customers to submit 

requests for Section 508-related service, Section 

508 training, document remediation assistance, 

Section 508 testing, and Voluntary Product 

Accessibility Template reviews.

Throughout 2021, the Section 508 Compliance 

team continued to compile Section 508 Program 

Maturity Assessment evaluations submitted 

to the Office of Management and Budget 

through the General Services Administration. 

During the most recent reporting period, the 

conformance levels of FDIC intranet pages 

increased 3 percentage points, from 91 percent 

to 94 percent, and the conformance level of the 

FDIC’s external internet pages remained above 

90 percent. The Section 508 Compliance team 

shared instructions on how to further improve 

the conformance levels. 

To continue to increase the maturity of the 

FDIC’s Section 508 program, the 508 Compliance 

team is collaborating with the CIOO to improve 

the inclusion of Section 508 in the areas of 

acquisition, information, and communications 

technology life cycle, testing, and training.

ACCESSIBILITY
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 33

OUR STRATEGIC ROADMAP: CONSISTENCY

We are working to mature our DEIA 

model to enhance the consistency of 

our outcomes by strengthening our 

policies and procedures, utilizing technology, 

and enhancing our training. In 2021, we focused 

on two areas.

Inclusive Environment. 

Foster a work environment 

without barriers to 

opportunity, where all 

employees feel welcomed, 

valued, respected, and 

engaged and can effectively 

participate and bring their 

unique talents, skills, and 

perspectives.

Training Plan

Promote training and 

workshops designed 

to increase cultural 

competencies and skills in 

promoting equal opportunity.

Provided below are initiatives implemented in 

2021 to address these areas.

Telework Flexibilities 

Telework flexibilities have been identified 

as an enabler to achieving DEIA goals. For 

example, travel was identified as a potential 

barrier for recruiting women and minorities 

in the examiner workforce. Our experience in 

mandatory telework and our effective 

incorporation of new technology and processes 

have provided the FDIC with an opportunity 

to explore additional operating models. At 

the same time, we are mindful of the need to 

maintain our culture and promote continued 

collaboration so that we effectively fulfill our 

mission. 

Training

The FDIC continued to provide DEIA-related 

training for FDIC supervisors and the entire 

workforce, including:

 Diversity 101: This course features thoughtprovoking video vignettes that tackle deep 

diversity, inclusion, and respect topics. It 

also addresses how employees can engage 

and work through differences to support 

productivity and teamwork.

 EEO and Diversity Training for Supervisors: 

This course provides relevant and practical 

information that help supervisors, managers, 

and executives increase their knowledge 

and skills in the EEO-complaint process and 

diversity and inclusion.

 Anti-Harassment Program Briefing: This 

briefing, new for 2021, describes the FDIC's 

Anti-Harassment Program and its policy on 

harassment and behaviors that constitute 

harassment. The briefing provides an 

overview of the procedures for reporting and 

processing harassment allegations.

CONSISTENCY


34 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: COMMUNITY

COMMUNITY

The work of the FDIC not only impacts the 

banking system; we have opportunities to 

positively influence consumers, families, 

households, small businesses, entrepreneurs, 

and communities across the country. The FDIC’s 

DEI Strategic Plan community goal encourages 

DEIA, as well as fostering financial inclusion, in 

our business activities and at our supervised 

financial institutions. To accomplish this goal, in 

2021 we focused on the following activities.

 Economic Opportunity. Identify barriers 

that underserved communities and individuals may face in taking advantage of FDIC 

procurement and contracting opportunities 

and ensure the inclusion, to the maximum 

extent possible, of minorities and women, 

and entities owned by minorities and women, including financial institutions, investors, 

underwriters, accountants, and providers of 

legal services, in contracts entered into by the 

FDIC. 

 Technology Solutions. Implement automated tools to improve the FDIC’s ability to assess 

diversity policies and practices at regulated 

entitles and within the contractor workforce.

Inclusive

Prosperity

At the FDIC, we ensure economic opportunity 

for MWOBs in our contracting by identifying 

and removing barriers that MWOBs may face in 

pursuing FDIC contracting opportunities. 

Maximizing MWOB Contracting 

Opportunities

The agency’s Acquisition Services Branch 

(ASB), together with OMWI, continued to 

maximize procurement strategies that have 

increased MWOB participation. We continued to 

monitor our procurements for possible MWOB 

opportunities. As contracting needs have 

evolved, ASB continued to encourage soliciting 

MWOBs in every competitive acquisition. OMWI 

review is required for all Acquisition Plans 

valued at more than $100,000 to ensure OMWI 

can include MWOB sources in the solicitation.

We also used multiple award vehicles in 

information technology services and bank 

resolution work, allowing pre-qualification 

of multiple firms under a single award. Since 

adopting this strategy, we have had increased 

participation by small businesses, many of 

whom are minority- and women-owned. This 

multiple-award strategy paid big dividends as 

$358 million in new task orders were awarded 

to MWOBs. In addition, new Basic Ordering 

Agreement contracts were awarded for:

 Information Security Support Services: $9.4 

million, all three awardees are MWOBs.

 Infrastructure Support Services: $488 million, 

one of three firms is an MWOB.

 Strategic Business Support Services: $386 

million, nine of 13 firms are MWOBs.

 Information Technology Application Services—Next Generation: $425 million, nine of 

17 firms are MWOBs.

$
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 35

OUR STRATEGIC ROADMAP: COMMUNITY

In our second area of success, we continued to 

use the Section 8(a) program, which resulted in 

$6.1 million in contracts to MWOBs for critical 

interior construction projects of FDIC facilities, 

assessment of human resources systems, and 

outreach and economic inclusion services. 

Eighty-eight such contracts with a combined 

value of $29.6 million were awarded in 2021.

OMWI continued to serve as a voting member on 

Technical Evaluation Panels (TEPs) that ensure 

all contract proposals receive fair consideration. 

During the year, OMWI staff participated in 27 

TEPs and responded to 62 requests from ASB 

and program offices for MWOB referrals in 2021. 

In addition, ASB continued to host virtual 

Industry Days for solicitations. ASB conducts 

Industry Days to ensure businesses understand 

the FDIC’s requirements before a solicitation 

is issued and to give smaller businesses 

opportunities to find partners and develop 

teams before submitting bids. Subsequently, 

a participating MWOB firm met applicable 

requirements, competed, and received an award 

to provide critical on-site Physical Security 

Services at bank closings.

Enhancing Outreach to MWOBs 

During the year, OMWI applied a more holistic 

approach toward our Minority and Women 

Outreach Program and the procurement process 

and actively promoted contracting with MWOBs. 

We proactively conducted market research 

and collaborated with program offices to host 

Pitch Days. This level of engagement supports 

the Minority and Women Outreach Program 

to meet the evolving contracting environment 

and ensure equitable economic opportunity for 

MWOBs. 

OMWI also continued to focus on identifying 

procurement needs earlier in the procurement 

process. Throughout the year, OMWI met 

regularly with program personnel to discuss 

the status of contract awards, requirements, 

and contracting strategies. During the sessions, 

OMWI shared information on the benefits of 

contracting with MWOBs. 

As a result, OMWI personnel gained a deeper 

understanding of contracting needs from 

the customer viewpoint. This exposure has 

enhanced OMWI staff’s capacity to have deeper, 

more meaningful conversations with MWOB 

contractors at matchmaking procurement 

events and during one-on-one technical 

assistance meetings. 

“The FDIC relies on contractors 

to assist in the resolution of 

failed financial institutions across 

the country. Since no two banks 

are alike, we often require the 

support of contractors with different 

specialties and an understanding 

of the communities affected. 

Developing and maintaining 

a diverse pool of contractors helps 

us ensure that we are prepared to 

pay insured depositors quickly, and 

to effectively manage the resolution 

of failed financial institutions and 

disposition of their assets.

Andrew Stirling

Assistant Director

Division of Resolutions 

and Receiverships

“
36 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: COMMUNITY

Technical Assistance events provide resources 

and educate contractors for opportunities 

with the FDIC and provide knowledge that 

may help them succeed with other agencies 

as well. In 2021, OMWI completed a three-part 

technical assistance series that focused on 

“Getting to Success: Marketing Your Business,” 

“Collaborating with a Mission,” and “Proposal 

Writing: Things Unsaid.” Two hundred and fifty 

attendees participated in the three events.

In 2021, OMWI conducted three Pitch Day 

sessions. At each session, MWOBs “pitch” their 

business capabilities to the FDIC for potential 

contracting opportunities of their goods and 

services. The program offices viewed the events 

as enriching opportunities to learn and interact 

with the contractors. After attending one Pitch 

Day session, an MWOB firm competed and won a 

$14.3 million nationwide Administrative Support 

Services contract. At the request of program 

offices, OMWI will continue Pitch Day sessions 

in 2022. The FDIC also hosted two other 

events that positioned companies for potential 

opportunities, the virtual Technical Assistance 

Events. These events highlighted resources to 

enhance networking connections. 

OMWI also conducted extensive outreach 

to MWOBs about agency procurements. 

Subsequently, four MWOBs met applicable 

requirements, competed and won contracts 

for new procurements in the Division of 

Administration and DRR. OMWI added 100 new 

MWOB firms to the resource list from one-on-one 

meetings, exhibits, matchmaking procurement 

events, and inquiries to the MWOB Mailbox after 

vetting for possible opportunities. 

A key objective under the DEI Strategic Plan 

community goal is implementing the use of 

automated tools to improve the efficiency and 

effectiveness of programs. 

In 2020, OMWI identified the need for 

automation to support our outreach program. 

The existing tools consisted of a combination of 

disconnected automated and manual processes. 

In 2021, OMWI developed and deployed 

the Minority- and Women-Owned Business 

Relationship Management (MRM) tool. The MRM 

tool provides technology support for customer 

relationship management, internal workload 

management, program measurement activities, 

and reporting for accountability. The significant 

value of the MRM tool is improved technical 

assistance to MWOBs and improved quality of 

contract referrals to procurement. 

Also, OMWI deployed the Contractors’ 

Workforces Dashboard in 2021. This 

electronic application supports review of our 

contractors’ good faith efforts. Under Section 

342 of the Dodd-Frank Wall Street Reform and 

Consumer Protection Act, OMWI must assess 

our contractors’ good faith efforts to ensure 

the fair inclusion of minorities and women 

in their workforces. Before implementing 

the Contractors’ Workforces Dashboard, the 

reviews were very labor-intensive. We have 

streamlined the reviews with the introduction of 

a questionnaire and application of technology.

Measures of MWOB Success

Our contracting awards in 2021 demonstrate the 

strong participation of MWOBs in contracting 

opportunities with the FDIC. For the year, $416.4 

million in new awards (representing 49.2 percent 

of all new awards) went to MWOBs, marking 

the FDIC’s most successful year ever. This is an 

increase of $326.4 million and 28.1 percent, over 

2020. And, over the last five years, on average, 

29.6 percent of new contracts were awarded to 

MWOBs. 
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 37

OUR STRATEGIC ROADMAP: COMMUNITY

Despite an overall downward trend in contract 

awards between 2015 and 2020, the FDIC 

has worked hard to maximize opportunities 

for MWOBs through innovative contracting 

strategies and outreach. 

The FDIC strives to increase participation 

by MWOBs in all of its program areas. As 

demonstrated in the table below, the agency 

awarded contracts to MWOBs for a wide variety 

of goods and services in 2021.

Type of Goods and/or Service Combined 

Award Value

IT Services $288,694,555

Strategy and Business Support Services $70,591,698

Hardware/Software & Maintenance $29,641,153

Facilites Management Services and Renovations $19,887,362

Bank Resolution Services $1,833,106

Risk Modeling Services $1,350,000

Furniture $999,202

Document Prep/Transcription/Scanning Services $835,153

Digital Marketing $605,500

Moving Services $478,787

OMWI Support Services $412,450

Financial Research Services $491,400

HR Services $290,615

Corporate University Services $203,143

Tax Compliance Services $34,475

Facilitator Services $25,000

Total of 2021 Awards $416,373,599

2021 MWOB Awards by Category
38 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: COMMUNITY

In 2022, the FDIC will continue to monitor 

contracting policies and practices to promote 

economic opportunity for MWOBs. OMWI 

will continue to build upon partnerships 

with program offices and contracting on 

procurement strategies for solicitations. OMWI 

will continue to educate MWOBs about doing 

business with the FDIC through procurement 

events, partnerships with professional trade 

associations, technical assistance, and Pitch Day 

sessions. 

Strengthening Outreach to 

MWOLFs and Diverse Attorneys

Similar to the Minority and Women Outreach 

Program, our Legal Division promotes DEIA in 

legal referrals for outside counsel services to 

MWOLFs and Diverse Attorneys at majority firms. 

Despite a decline in overall legal referral work, 

the Legal Division continues to expand the pool 

of MWOLFs and Diverse Attorneys around the 

country. 

The Legal Division provides ongoing technical 

assistance that prepares Diverse Legal Service 

Providers (DLSPs) to participate in any outside 

counsel services work to offset the declining 

resolution activity. In 2021, the FDIC’s inhouse counsel met regularly with DLSPs and 

strengthened relationships with firms working 

with the agency. 

The FDIC’s engagement with Diverse Attorneys 

resulted in several majority firms naming four 

diverse relationship partners. Relationship 

partners serve as the primary liaisons between 

the client (i.e., the FDIC as receiver) and the law 

firm. Diverse relationship partners receive credit 

for developing the FDIC as a client.

The Legal Division also engaged in a major 

advertising campaign and participated in seven 

minority bar association virtual conferences and 

three stakeholder events in 2021. At a National 

Association of Minority and Women-Owned Law 

Firms (NAMWOLF) webinar, the FDIC and the U.S. 

Securities and Exchange Commission presented 

jointly about opportunities for receivership 

work. The Legal Division collaborated with 

NAMWOLF to recruit nine new MWOLFs in 

various geographic areas out of a total of 20 

firms added to the List of Counsel Available. 

The Legal Division also collaborated with the 

National Bar Association Commercial Law 

Section to recruit several Diverse Attorneys. 

For the year, the Legal Division increased the 

percentage of MWOLFs on the List of Counsel 

Available from 30 percent to 41 percent. 

This year, the Legal Division collaborated with 

OMWI on a Pitch Day event that provided a 

dozen MWOLFs and Diverse Attorneys a platform 

to present their firm’s legal expertise to in-house 

FDIC attorneys. The event resulted in robust 

discussions between the firms and FDIC inhouse counsel that are primarily responsible for 

assigning legal work. 

Measures of MWOLF and Diverse 

Attorneys Success 

Notwithstanding the decline in bank resolution 

activity, the FDIC paid $385,000 in legal fees to 

MWOLFs and $3.2 million to Diverse Attorneys 

in 2021. Taken together, the FDIC paid $3.5 

million to MWOLFs and Diverse Attorneys out of 

a total of $19.5 million spent on outside counsel 

services, for an aggregate 18.3 percent diversity 

and inclusion participation rate in outside legal 

contracting in 2021. The FDIC made 11 referrals 

to MWOLFs, which accounted for 29.0 percent of 

all legal referrals. 
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 39

OUR STRATEGIC ROADMAP: COMMUNITY

HISPANIC 4 (10%)

ASIAN 3 ( 8%)

WOMEN 2 ( 5%)

NATIVE 

AMERICAN 1 ( 3%)

BLACK 1 ( 2%)

Non-Minority 28 (72%)

In 2022, the Legal Division will 

complete a review of the referral 

process to determine if there are 

opportunities to enhance the 

MWOLF selection process, within 

existing guidelines for legal referral 

services, according to the DEI 

Strategic Plan. 

The review results will be 

used to draft an action plan to 

strengthen outreach and technical 

assistance to MWOLFs and Diverse 

Attorneys. Meanwhile, the Legal 

Division will continue to provide 

technical assistance to current 

law firm partners and professional 

associations.

“ FDIC legal matters provide minority- and 

women-owned law firms and Diverse Attorneys 

at majority firms with opportunities for 

learning and client development that is vital to 

professional success. Several diverse lawyers 

have ascended to partnership within their 

respective firms as a result of working on our 

legal issues. We realized long ago that when 

diverse legal services providers succeed, they 

become more valuable partners to the FDIC.

Mona Diaz

Counsel, Legal Division

“

2021 Referrals to MWOLFs and 

Diverse Attorneys
40 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: COMMUNITY

Financial

Institution

Diversity

Our DEI Strategic Plan community goal 

incorporates the important roles the FDIC 

and supervised financial institutions have 

in maintaining a banking system that works 

for all members of the community. In many 

communities, supervised financial institutions 

are the bedrock of the local economy. 

These institutions provide jobs, deposit account 

services, access to credit, and capital for small 

businesses. The workforce at these institutions 

should reflect the unique diversity in those 

communities to foster trusting relationships 

with all customers. 

Fostering a More Inclusive 

Banking System

Throughout 2021, the FDIC engaged in 

discussions with other federal agencies, 

DEIA practitioners, state and banker trade 

associations, and community-based 

organizations. We were transparent about our 

desire to make meaningful changes. By being 

open and honest about our DEIA journey, we 

model the behaviors we want our financial 

institutions to adopt. With greater visibility on 

DEIA issues, the FDIC seeks to promote greater 

diversity in the financial services industry.

The FDIC’s goal is to be a resource partner with 

our supervised financial institutions in their 

diversity journey. In 2021, financial institutions 

reached out to OMWI to discuss their diversity 

programs and learn more about what FDIC is 

doing on DEIA. This is the first step in our long 

term plan to provide DEIA technical assistance to 

our regulated entities.

Expanding Outreach with 

DEIA Community

OMWI continued to expand our outreach with 

banker trade associations and professional 

organizations to educate and increase 

awareness about the FDIC’s Financial Institution 

Diversity Self-Assessment (DSA). We increased 

the visibility of the Financial Institution Diversity 

program by providing technical assistance 

and supporting industry events. In 2021, we 

participated in:

 American Banker Association Forum on 

Diversity, Equity, and Inclusion

 American Banker Association “Diversity Data 

and Self-Reporting” webinar

 OMWI Forum Webinar “Financial Institution 

Diversity Self-Assessment” 

 Conference of State Bank Supervisors State 

Federal Supervisory Forum

 Virginia Bankers Association Diversity, Equity, 

and Inclusion Summit

 Alliance of Black Businesswomen and 

Entrepreneurs: 2021 Rise to Wealth 

Conference

 2021 Operation Hope Forum “Meeting the 

Moment”

 Ohio Bankers League Prospective Diversity 

Director’s Symposium 

During summer 2020, the lack of diversity on 

bank boards became a focus in the financial 

services industry. Bank board diversity is 

important because the board influences the 

organization's culture, and can impact economic 

inclusion more broadly. Having a diverse 

board brings a valuable range of perspectives 

that positively impact decision making by 
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 41

OUR STRATEGIC ROADMAP: COMMUNITY

considering the interests of all community 

members. Despite efforts to increase the 

representation of women and minorities on 

boards, data indicates low levels of diversity at 

the management and board level.

In June 2021, the FDIC cohosted an 

informational session with the Ohio Bankers 

League. The event focused on educating 

diverse, prospective candidates interested in 

becoming bank directors about the roles and 

responsibilities of serving on a bank board. 

More than 80 participants attended, including 

prospective and current bank board members, 

proposed board members from a Chicago de 

novo minority depository institution, and other 

regulatory agencies. The hope is to continue 

to host this type of event and include a panel 

of minority individuals who became board 

members as a result of knowledge obtained 

through this symposium. As of November 30, 

2021, three individuals who attended the session 

have joined bank boards, and an additional 

eight attendees were in the process of joining 

boards.

In November, OMWI Director Nikita Pearson 

participated in a discussion on “Increasing 

Diversity in Banking” with the President and 

CEO of the National Bankers Association at the 

2021 Rise to Wealth Conference. The purpose of 

the event was to support expanding the talent 

pool for bank boards by sharing information 

with women of color who are seeking these 

opportunities. 

Promoting Increased DEIA 

Transparency

Throughout 2021, we continued to encourage 

our supervised financial institutions to 

incorporate the principles of DEIA in their 

workplace by participating in the FDIC’s 

voluntary DSA. The DSA instrument helps 

financial institutions collect data on their 

diversity profile and programs; identify 

opportunities, strengths, and gaps in their 

programs; and learn about leading diversity 

practices.

“Women, minorities, and other marginalized 

communities can face barriers in accessing 

credit and other financial services they 

need to fully participate in the economy and 

prosper. Improving diversity in the banking 

industry can bring unique perspectives that 

foster financial inclusion for those on the 

outskirts of the financial mainstream.”

Nikita Pearson

Deputy to the Chairman 

for External Affairs and 

Director of the Office of 

Minority and Women Inclusion
42 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: COMMUNITY

We have gained a number of insights through 

the DSA program, including:

 Financial institution responses indicate 

strong support for organizational 

commitment to diversity and inclusion and 

workforce diversity leading practices.

 Financial institutions are reluctant to publish 

information about the organization’s diversity 

practices and performance.

 Most financial institutions have not adopted 

supplier diversity leading practices.

 Financial institutions are still wary of sharing 

diversity and inclusion information with their 

federal regulators.

 The location and size of FDIC-regulated 

financial institutions may limit their resources 

to grow a diversity program.

 Financial institutions are at different stages in 

their diversity and inclusion maturity journey. 

 Financial institutions may not be aware of 

the benefits of completing a diversity selfassessment.

Going forward, we seek to increase financial 

institution participation in the DSA. For the 

2020 reporting period, 148 out of 773 financial 

institutions, with 100 or more employees, shared 

their DSA with the FDIC. 

OMWI provides technical assistance to help 

financial institutions build and grow their DEIA 

programs. Similar to our existing FDIC technical 

assistance initiatives in other programs, we 

will look to build partnerships with banks 

and state bank trade associations to cohost 

events that spotlight DEIA topics, and raise 

the program visibility through articles and ads 

in publications. In addition, we will continue 

to respond to questions from supervised 

institutions about their diversity programs. 

Financial 

Inclusion

In our DEI Strategic Plan, the FDIC reaffirmed our 

commitment to foster greater financial inclusion 

in the development and implementation of FDIC 

policies, including those that promote diversity 

and inclusion of historically underserved and 

marginalized populations. 

While we have made progress, minority and 

low- and moderate-income (LMI) communities 

continue to face barriers in accessing banking 

and financial services. Lack of access to these 

resources reduces the ability of community 

members to obtain affordable credit, mortgages, 

and much-needed capital to start and grow 

small businesses. 

This lack of access to credit and capital has 

contributed to the wealth gap in America, which 

has grown steadily over the last 30 years. It 

is estimated that the top 10 percent of the 

population has 79 percent of the wealth in 

America. Exacerbated by a disproportionate 

distribution of economic disparities created by 

the COVID-19 pandemic, these communities 

continue to struggle to participate in the 

mainstream economy.

Our efforts in 2021 included an increase 

in partnerships, initiatives, and outreach 

promoting economic inclusion for historically 

underserved minority and LMI communities. 

These efforts focused on increasing economic 

inclusion in the areas of account access, 

sustainable credit, affordable housing, resources 

for small businesses, and financial education. 

The following section highlights our successes in 

promoting these areas of economic inclusion in 

LMI communities across the country. 
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 43

OUR STRATEGIC ROADMAP: COMMUNITY

Bringing Unbanked 

Consumers Into the 

Financial Mainstream 

Seven million Americans remain unbanked 

and lack affordable access to deposit 

and saving accounts. We saw during the 

COVID-19 pandemic the real-world impact 

on the well-being of individuals and 

families who do not have bank accounts. 

These consumers experienced delays 

and incurred higher costs accessing 

their stimulus payments, for example. 

The most recent study found that 13.8 

percent of Black and 12.2 percent of 

Hispanic households are unbanked.1

Most unbanked rely on check-cashing 

and payday lending businesses, often 

at a much higher cost. To reduce the 

number of unbanked Americans, the 

FDIC launched the #GetBanked initiative 

to promote access to secure, affordable, 

insured bank accounts for all Americans.

Through its #GetBanked webpage, the 

FDIC provides consumers with information 

on finding a bank, opening an account 

online, and accessing other resources 

regarding the importance of establishing 

a banking relationship. The webpage is 

available in English and Spanish. We also 

encourage more banks to offer low-cost 

sustainable accounts to consumers. By 

year-end, the FDIC’s resource pages on 

bank account access had received more 

than 599,000 page views.

In Spring 2021, in the Atlanta and Houston 

metropolitan areas, the FDIC launched 

a three-month #GetBanked public 

awareness campaign. 

2

 Federal Deposit Insurance Corporation (FDIC), “How America Banks: Household Use of Banking and Financial Services,” 2019 FDIC Survey (October 

 2020), available at http://www.fdic.gov/analysis/household-survey/2019technotes.pdf.
44 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: COMMUNITY

The campaign, which included radio and 

television advertisements, featured the theme 

“There’s a Better Way,” and focused on breaking 

down consumers’ misconceptions about banks 

and highlighting how banks can help them 

meet financial needs. During the campaign, 

the #GetBanked webpage received more than 

163,000 visits. 

We also conducted virtual outreach events 

around the country, fostering community 

partnerships that support the financial wellbeing of the unbanked, including a webinar 

co-sponsored with the Internal Revenue Service 

to increase the number of Volunteer Income 

Tax Assistance (VITA) sites, account access, 

and economic inclusion in South Dakota. Six 

new VITA sites were created in South Dakota 

to prepare for the 2022 tax season in counties 

with no VITA presence. In addition, Four Bands 

Community Fund Inc., a Native American 

Community Development Financial Institution, 

educated about 200 unbanked tax filers on the 

benefits of having a bank account, and at least 

25 percent of those established a bank account 

with direct deposit. 

While much effort has been made to target 

adult consumers, the FDIC also recognizes the 

importance of teaching young people about safe 

and affordable banking services. In particular, 

youth employment programs have a unique 

opportunity to help young people build financial 

capacity and develop banking relationships. 

In 2021, the FDIC continued its efforts with 

federal partners and other organizations to 

foster collaborations between banks and youth 

workforce providers, resulting in young people 

receiving financial education and an opportunity 

to easily open a bank account. We collaborated 

with banks and the City of Philadelphia to 

deliver six financial empowerment sessions to 

more than 2,000 young people. The banks also 

offered accounts to the participants. 

In California, the FDIC also worked with a bank 

in an Orange County workforce program to 

conduct a financial education series in which 

bankers discussed the importance of opening 

bank accounts and demonstrated how to do so.

Besides efforts to bring unbanked consumers 

into the financial mainstream, the FDIC 

continued supporting savings initiatives, 

including the America Saves program. This year 

we participated by leading the Los Angeles Saves 

initiative and serving on the America Saves Week 

advisory group. As a result, more than 285,000 

consumers set up or increased automated 

savings plans (based on responses from six 

percent of the participating organizations). 

From their survey of participating financial 

institutions, America Saves estimated that 

$158,592,265 was deposited into new or existing 

savings accounts during the week. 

“Economic inclusion is important 

to me because it presents a 

significant opportunity for all people 

to achieve financial growth. I am 

passionate about reducing barriers 

to the financial system, which 

many underserved and minority 

communities face. The #GetBanked 

initiative provides resources for 

consumers to learn about the 

benefits of having an affordable bank 

account and how to open one. I enjoy 

promoting resources which can lead 

individuals and families to the path of 

financial well-being or wealth. 

Mia Sowell, Sr. Community 

Affairs Specialist, Division of 

Depositor and Consumer Protection 

“
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 45

OUR STRATEGIC ROADMAP: COMMUNITY

Promoting Access to 

Sustainable Credit

The FDIC promotes access to sustainable credit 

by establishing partnerships among banks 

and community stakeholders who provide 

resources to help LMI consumers build and 

sustain a strong credit history. Our vision is to 

give every bank the tools and strategies to make 

an informed decision about responsible lending 

to LMI communities and consumers. In 2021, 

we hosted outreach events targeting consumer 

credit challenges around the availability of 

affordable small dollar loans, targeting specific 

population segments. 

One such event targeted the Spanish-speaking 

populations of Oregon that experienced 

financial hardship stemming from the pandemic, 

highlighting trends leading to debt collection 

and negative implications on credit reporting. 

Many households impacted by the long-term 

consequences of heavy debt levels turn to 

non-bank credit providers to relieve financial 

burdens. Events such as this provided promising 

strategies to develop bank partnerships with 

organizations who have adopted a communityfirst framework offering affordable credit 

options and credit rehabilitation programs, 

which can help alleviate the financial burdens 

of these households. The events also helped 

educate consumers about affordable and safe 

small dollar lending programs.

We also hosted a discussion series on 

establishing and maintaining strong credit 

histories at various HBCUs across Mississippi. 

For the first time, the FDIC partnered with 

BIPOC-serving financial institutions (i.e., 

BankPlus, Hope Credit Union, and Bank 

of Commerce) to present the importance 

of understanding the criteria involved in 

developing and maintaining credit stability. 

The event directed many to establish credit and 

encouraged others to adopt more robust credit 

rehabilitation strategies.

Affordable Housing 

Assistance 

We recognize that, for many families, securing 

affordable housing has a significant impact on 

their ability to build wealth. Housing is generally 

the largest single expense for most families. As 

moratoriums and forbearances expired during 

the year, more homeowners needed support 

to help mitigate eviction and foreclosure. For 

the first time, the FDIC provided information 

on resources available to assist struggling 

homeowners in learning about options and 

assistance. 

In July, the Homeownership and Foreclosure 

Prevention Committee of the Financial 

Empowerment Network created an outreach 

video to encourage homeowners and 

community-based organizations assisting 

homeowners with forbearance agreements 

Our vision is to give 

every bank the tools 

and strategies to 

make an informed 

decision about 

responsible lending 

to LMI communities 

and consumers.
46 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: COMMUNITY

to call the Washington State Homeownership 

Hotline and connect with housing counselors to 

obtain assistance and learn about options. The 

video was a direct outcome of a San Francisco 

Region-hosted webinar in February 2021, 

which encouraged mortgage holders, mortgage 

servicers, and lenders to minimize foreclosure 

actions in the state of Washington. 

During National Homeownership month, we 

hosted a national event to discuss strategies 

on closing the homeownership gap in LMI 

and minority communities. In partnership 

with the Department of Housing and Urban 

Development, the webinar presented a market 

overview and analysis of the national housing 

market, followed by a panel of experts within 

the mortgage industry that discussed research 

and programs to improve housing equality. 

As a result, housing counseling agencies and 

banks obtained strategies to lower barriers and 

increase homeownership opportunities in LMI 

and minority communities. 

Supporting Small 

Business Lending

The ability of a small business to grow is often a 

byproduct of its ability to secure capital. Many 

minority- and women-owned firms entered 

the COVID-19 pandemic facing a unique set of 

obstacles, such as challenged credit histories, 

low cash liquidity, and limited access to credit 

opportunities. In addition, many of these 

businesses lack a formal banking relationship 

with a financial institution, which keeps them 

out of the financial mainstream system. 

The FDIC encourages financial institutions 

and their partners to prudently serve the 

financial needs of emerging entrepreneurs 

and small businesses. We want to equip every 

bank with tools and resources that support 

small business lending, including technical 

assistance, education, and access to Community 

Development Financial Institutions (CDFIs). 

As part of our 2021 outreach efforts, the FDIC 

worked with community stakeholders to extend 

lending and educational resources to minorityowned small businesses.

The FDIC cohosted, along with the U.S. Small 

Business Administration, Valley Community 

Small Business Development Center, and 

San Joaquin Delta College, a webinar to 

connect technical assistance providers, 

affordable lenders, and small business 

development organizations to Spanish-speaking 

entrepreneurs of the Central Valley and equip 

them with resources and opportunities. 

As a result, Kiva (an affordable micro-lender) 

collaborated with the Kern County (California) 

Women’s Business Center to provide a 

credit training for Spanish-speaking female 

entrepreneurs. Kiva also developed a bilateral 

referral partnership with Chase Bank throughout 

California, Georgia, Illinois, Texas, and Michigan, 

resulting in affordable loans to hundreds of 

Latino-owned startup businesses previously 

subject to predatory lending.

The Urban League of Metropolitan St. Louis 

Women’s Business Center adopted the FDIC 

curriculum for future strategic programing 

for its “Ready, Set, Launch” Program, a 12-

week training and development program to 

strengthen the financial literacy of minority 

women entrepreneurs. As of May 2021, 31 

aspiring and existing business owners had 

graduated from the program. Several of those 

graduates are applying for or have received 

small business loans as startup capital, and the 

Women’s Business Center launched a second 

cohort in August 2021.
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 47

OUR STRATEGIC ROADMAP: COMMUNITY

Alliances for Economic Inclusion

As part of our community outreach efforts, the 

FDIC sponsors Alliances for Economic Inclusion 

(AEIs) in 12 designated metropolitan statistical 

areas. AEIs are coalitions of local financial 

institutions, consumers, community, and local 

government organization leaders. AEI members 

support the goal of promoting the widespread 

availability and use of safe, affordable, and 

sustainable financial products from insured 

depository institutions that help people achieve 

financial stability and build wealth. AEIs seek to 

promote economic inclusion by connecting LMI 

individuals and emerging small businesses to 

the mainstream financial system. 

For example, the Austin AEI hosted “Empowering 

Women and Families Through Innovative 

Financial Solutions,” a discussion of the key 

issues and building blocks for establishing 

economic security for women and their 

families. The event was cosponsored by the 

Office of the Comptroller of the Currency, which 

presented information on its Project Roundtable 

for Economic Access and Change (Project 

REACh). Because of this effort, two banks have 

committed to hold discussions with the Texas 

Women’s Foundation regarding opportunities to 

advance economic and leadership opportunities 

for women.

Advancing Financial Education 

and Well-Being

Financial education is central to the FDIC’s 

efforts to expand economic inclusion and 

promote confidence in the banking system. 

Through its award-winning Money Smart 

financial education curriculum, the FDIC offers 

non-copyrighted, high-quality, free financial 

education training resources to meet the 

financial education needs of consumers of all 

ages and small business owners. 

In 2021, Money Smart commemorated its 20th 

anniversary with the release of “How Money 

Smart Are You?”—a next generation self-paced, 

interactive suite of 14 virtual games and related 

resources about everyday financial topics. We 

also released an updated version of Money 

Smart for Older Adults. 

The enhanced version includes an updated 

resource guide and a new section to help people 

avoid romance scams. We continued to partner 

with community stakeholders who share our 

commitment for advancing financial education.

 “ Economic Inclusion is 

important to me because I have 

seen first-hand the affects that 

a lack of financial education, 

access and inclusion has had 

in my community. This is why I 

am passionate about our Money 

Smart products. Money Smart 

provides relevant, unbiased 

financial education in language that 

everyday people can understand. 

The curriculum has something for 

all ages and helps people obtain not 

only the education they need but 

also the confidence to make sound 

financial decisions.

Brittany Burroughs

 Community Affairs Specialist 

Division of Depositor and 

Consumer Protection

“
48 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: COMMUNITY

For example, we continued to collaborate with 

Operation HOPE, a non-profit for-purpose 

organization that equips individuals from 

LMI communities with the financial tools and 

education to fully participate in the financial 

system. Our collaboration allows Operation 

HOPE and the FDIC to leverage each other’s 

resources related to financial education, 

consumer and small business access to credit, 

and disaster preparedness and recovery for 

members of the BIPOC community. 

In honor of National Veterans and Military 

Families Month, we provided banking resources 

and training on the FDIC’s Money Smart 

for Adults curriculum to Veterans Service 

Organizations and Department of Veterans 

Affairs’ special Outreach Program Coordinators. 

The training will enable these organizations 

to provide financial education to more than 

158,000 unbanked U.S. veterans. 

Expanding Financial Inclusion 

for Black, Indigenous, and 

People of Color

The FDIC continues to improve and strengthen 

our commitment to the communities we 

serve by integrating DEIA initiatives for BIPOC 

communities. Motivated by the importance 

of increasing financial capability and access 

to financial services for the U.S. Hispanic 

population, the FDIC developed a new 

BIPOC Pilot. The pilot’s focus is to increase 

representation by Hispanic-serving institutions 

and organizations in FDIC community coalitions 

and increase utilization of FDIC economic 

inclusion resources available in Spanish. To 

support the pilot project, we have engaged key 

strategic partners such as UnidosUS; the White 

House Initiative on Advancing Educational 

Equity, Excellence, and Economic Opportunity 

for Hispanics; and the Hispanic Association of 

Colleges & Universities (HACU).

We continue to amplify our commitment to 

DEIA and advance our vision. Our work this 

year included 59 events devoted to positively 

affecting BIPOC communities:

 Increased partnerships with BIPOC serving 

organizations, 

 Convened stakeholders to highlight best 

practices for reaching BIPOC,

 Engaged with BIPOC subject matter experts, 

 Enhanced collaborations with CDFIs, and

 Developed key performance indicators that 

measured the success of BIPOC initiatives.

As part of our HBCU engagement, we also 

participated in the 2021 Thurgood Marshall 

Leadership Institute student webinar, engaging 

in a panel discussion on “The Relationship 

Between Your Money, Your Decisions and Your 

Financial Health.” Approximately 40 African 

American undergraduate and graduate students 

attended to learn how to build financial health 

strategies and maintain a healthy relationship 

with money.

Promoting Inclusion through 

Technology Innovation

Our Office of Innovation, also known as 

FDITECH, leads the FDIC’s efforts to support the 

adoption of innovative technologies at the FDIC. 

FDITECH convenes subject matter experts from 

the banking industry, community organizations, 

and the technology sector to develop solutions 

to address financial industry challenges. 

In 2021, FDITECH launched its first tech sprint, 

“Breaking Down Barriers: Reaching the Last Mile 

of the Unbanked.” 
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 49

OUR STRATEGIC ROADMAP: COMMUNITY

The tech sprint brought together a diverse group 

focused on the significant challenges of financial 

inclusion for the seven million unbanked 

households in America. The ideas emerging 

from the tech sprint ranged from technology 

applications that can streamline the customer 

onboarding experience for financial institutions 

that lack a digital presence, incorporating 

culturally relevant resources into the design 

of financial solutions, and different delivery 

methods for financial education. 

Supporting 

Minority 

Depository 

Institutions 

The preservation and promotion of MDIs 

remains a long-standing, top priority for the 

FDIC. The FDIC’s research study, Minority 

Depository Institutions: Structure, Performance, 

and Social Impact, published in 2019, found 

that MDIs play a vital role in providing 

mortgage credit, small business lending, and 

other banking services to minority and LMI 

communities. MDIs are anchor institutions in 

their communities and can play a key role in 

building a more inclusive financial system.

In 2021, significant new sources of private and 

public funding became available to support 

FDIC-insured MDIs and CDFIs, collectively 

known as “mission-driven banks.” This includes 

up to $9 billion in funding through the U.S. 

Department of the Treasury (Treasury) through 

the Emergency Capital Investment Program 

(ECIP), as well $3 billion in new grant funding 

for CDFIs, including $1.2 billion set aside for 

minority lending institutions. 

During 2021, the FDIC pursued several 

strategies to support MDIs, including increasing 

engagement and representation, facilitating 

partnerships to provide new capital and other 

tools and resources, updating policies, and 

promoting the MDI sector through advocacy, 

as well as by providing outreach, technical 

assistance, and education and training for MDIs.

Engagement and Representation

The FDIC’s MDI Subcommittee of the Advisory 

Committee on Community Banking (CBAC) 

held three virtual meetings in 2021. The 

subcommittee is comprised of nine MDI 

executives representing all types of MDIs 

and provides a venue for minority bankers to 

discuss key issues, share feedback on program 

initiatives, and showcase MDI best practices.

In addition, representatives from three MDIs 

serve on the 18-member CBAC to further bring 

MDI perspectives and issues to the table. 

During 2021, the FDIC also engaged in deeper 

relationships with mission-driven bank trade 

groups to facilitate effective implementation of 

some of the new resources becoming available 

to mission-driven banks.

“ FDITECH’s approach to 

innovation is founded on the 

principles of inclusion and 

accessibility. We embrace 

diverse perspectives as we 

create solutions that address 

modern banking challenges and 

strengthen public confidence in 

the nation’s financial system.

Brian Whittaker, Acting Chief 

Innovation Officer

“
50 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: COMMUNITY

Partnerships

In 2021, the FDIC partnered with the Treasury 

and the Community Development Financial 

Institutions Fund (CDFI Fund) to support new 

sources of funding made available to MDIs 

and CDFIs. For example, the FDIC developed a 

Capital Estimator Tool for mission-driven banks 

and a Regulatory Capital Guide. 

These offerings enabled mission-driven banks 

to approximate the impact of additional capital 

on regulatory capital ratios through various 

“what-if” scenarios and inform decisions on 

the types of capital they sought. The FDIC 

also co-sponsored an interagency webinar to 

demonstrate use of the tool and guide. 

In addition, the FDIC cosponsored a webinar 

with the CDFI Fund and MDI and CDFI trade 

groups to enable institutions to learn about 

the benefits of CDFI designation, especially 

given new grant funding for minority lending 

institutions.

Policies

In June 2021, the FDIC’s Board of Directors 

updated and strengthened its Statement 

of Policy Regarding Minority Depository 

Institutions. The revised policy includes updates 

responsive to the public notice-and-comment 

process conducted in the fourth quarter of 

2020. The policy statement reflects the agency’s 

enduring commitment to fulfilling the five 

statutory goals to preserve and promote MDIs 

and outlines the framework for the MDI program 

across the FDIC. Key changes include emphasis 

on engagement with MDIs, enhanced technical 

assistance, and a description of how examiners 

apply examination standards to the unique 

business models of MDIs.

The FDIC also developed MDI designation 

procedures, outlining factors it considers in 

determining whether an institution meets one 

of two definitions to qualify as an MDI. Given 

the substantial increased interest in becoming 

an MDI, the agency desired to provide greater 

transparency and clarity for institutions 

considering the MDI designation.

In 2021, agency staff also developed training 

modules that will be launched in 2022 to train 

examiners and other staff supporting the MDI 

program.

Outreach, Technical Assistance, Education

It is important to promote the visibility of MDIs, 

to tell their stories, and showcase the important 

role they play in their communities. In 2021, 

the FDIC began planning a 2022 relaunch 

of its initiative to record and publish videos 
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 51

OUR STRATEGIC ROADMAP: COMMUNITY

of MDI executives sharing their institutions’ 

“origin stories,” highlighting the reasons their 

institutions were formed, and describing how 

they have served their communities over time. 

In addition, senior agency leaders emphasized 

the significance of mission-driven banks in 

numerous external speaking engagements and 

through posts on a number of FDIC social media 

channels and websites.

The FDIC cosponsored the biennial interagency 

Minority Depository Institution and CDFI Bank 

Conference in September 2021, along with the 

Office of the Comptroller of the Currency (OCC) 

and the Federal Reserve Board of Governors 

(FRB). The conference, “Navigating the Economy 

with Resilience and Reinvention,” featured 

agency principals discussing their initiatives to 

support mission-driven banks, panels led by 

MDI and CDFI CEOs sharing their perspectives, 

and senior agency leaders discussing current 

supervisory and policy issues. The conference 

also highlighted key points for building business 

relationships with corporate America, MDIs, 

and CDFIs; a session on economic inclusion, 

innovation, and fintech; and breakout sessions 

during which bankers could speak with their 

primary federal supervisor.

During the year, the FDIC continuously 

pursued efforts to improve communication 

and interaction with MDIs and to respond to 

the concerns of minority bankers. The agency 

maintains active outreach with MDI trade groups 

and offers to arrange annual meetings between 

FDIC regional management and each MDI’s 

Board of Directors to discuss issues of interest. 

The FDIC also conducts an annual survey to 

obtain feedback from MDIs and to help assess 

the effectiveness of the MDI program.

At the conclusion of each examination of an 

MDI supervised by the FDIC, staff is available 

to return to the institution to provide technical 

assistance by reviewing areas of concern or 

topics of interest to the institution. The purpose 

of return visits is to assist management in 

understanding and implementing examination 

recommendations, not to identify new 

problems.

Through its public website (www.fdic.gov), 

the FDIC invites inquiries and provides contact 

information for any MDI to request technical 

assistance.

In 2021, the FDIC provided 137 individual 

technical assistance sessions on approximately 

29 topics related to risk management, consumer 

compliance, and resolutions, including:

 Accounting,

 Applications for branch openings and closures,

 Bank Secrecy Act (BSA) and Anti-Money Laundering (AML),

 Community Reinvestment Act,

 Compliance management,

 Corporate Planning, 

 Current Expected Credit Losses (CECL) accounting methodology,

 Funding and liquidity,

 Information technology risk management 

and cybersecurity,

 Internal audits, and

 Loan modifications and Troubled Debt Restructuring.

The FDIC also held outreach, training, and 

educational programs for MDIs through 

conference calls and regional banker 

roundtables. In 2021, topics of discussion for 

these sessions included many of those listed 
52 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

OUR STRATEGIC ROADMAP: COMMUNITY

above, as well as strategic and management 

succession planning, FDIC economic inclusion 

initiatives, emerging risks and areas of concern, 

IT vendor management, and innovation and 

emerging technology.

Emergency Capital 

Investment Program (ECIP)

The ECIP was established by the U.S. 

Department of the Treasury pursuant to 

the Consolidated Appropriations Act, 2021, 

which authorizes Treasury to purchase up 

to $9 billion of preferred stock and other 

financial instruments from LMI community 

financial institutions determined by Treasury 

to be eligible for the investment. The ECIP 

is designed to promote lending, grants, and 

forbearance for small businesses, minorityowned businesses, and consumers, especially 

in low-income and underserved communities 

that may be disproportionately impacted by the 

economic effects of COVID-19, by making capital 

investments in operating MDIs and CDFIs. 

The Act requires Treasury to consult with the 

appropriate federal banking agency before 

making a capital investment pursuant to the 

ECIP. Accordingly, Treasury requested that the 

FDIC provide specific information for each FDICsupervised institution that applied to Treasury 

for an ECIP investment or is a subsidiary of a 

bank holding company that applied for an ECIP 

investment. The FDIC provided information to 

Treasury for 77 institutions for which Treasury 

requested information. In December 2021, 

Treasury announced the deployment of more 

than $8.7 billion in ECIP investments in 186 MDIs 

and CDFIs. 

In 2021, the FDIC issued a Financial Institution 

Letter to alert institutions to the availability of 

the ECIP and to provide sources of information 

to potential applicants. In addition, to facilitate 

the implementation of ECIP, the FDIC, along 

with OCC and FRB, issued an interim final rule 

to revise applicable capital rules to provide 

that Treasury’s investments under the ECIP 

would qualify as regulatory capital for insured 

depository institutions and holding companies.
CONCLUSION
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 54

CONCLUSION

The FDIC made progress toward the 

accomplishment of our strategic vision 

through creating a workplace culture of 

excellence and belonging; ensuring equitable 

career opportunities for candidates and 

employees; improving communications on DEIA 

both internally and externally; implementing 

policies and practices that support consistent

DEIA outcomes; and fostering financial inclusion 

in underserved communities.In 2022, we look 

forward to continuing these efforts, embarking 

on new programs and initiatives, and achieving 

even greater success in embedding DEIA in FDIC 

operations, throughout our workforce, and with 

the institutions we supervise. 
APPENDICES
56 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

APPENDICES

2017 2018 2019 2020 2021

TOTAL AWARDS $523.7 $499.5 $554.0 $426.7 $845.5

MINORITY-OWNED OR WOMEN 

OWNED BUSINESSES TOTALS

$ $96.7 $122.5 $173.5 $90.0 $416.4

% 18.5% 24.5% 31.3% 21.1% 49.2%

MINORITY-OWNED $ $66.7 $45.8 $106.0 $58.9 $342.8

% 12.7% 9.2% 19.1% 13.8% 40.5%

WOMEN-OWNED $ $46.2 $83.0 $75.8 $50.1 $105.7

% 8.8% 16.6% 13.7% 11.7% 12.5%

BOTH MINORITY-OWNED 

AND WOMEN-OWNED

$ $16.2 $6.3 $8.3 $19.0 $32.1

% 3.0% 1.3% 1.5% 4.4% 3.8%

ASIAN AMERICAN $ $31.2 $33.9 $83.1 $25.6 $288.5

% 6.0% 6.8% 15.0% 6.0% 34.1%

BLACK AMERICAN $ $32.7 $1.9 $5.8 $3.3 $43.8

% 6.2% 0.4% 1.0% 0.8% 5.2%

HISPANIC AMERICAN $ $1.6 $7.0 $13.3 $28.8 $7.0

% 0.3% 1.4% 2.4% 6.8% 0.8%

NATIVE AMERICAN $ $0.9 $2.9 $3.5 $0.6 $2.4

% 0.2% 0.6% 0.6% 0.1% 0.3%

OTHER MINORITY $ $0.3 $0.1 $0.3 $0.5 $1.1

% 0.0% 0.0% 0.1% 0.1% 0.1%

Note: Percentages do not total to 100 due to overlap between minority-owned and women-owned businesses.

APPENDIX A: CONTRACTING AND TREND DATA

FDIC Contract Awards to MWOBs by Year (in Millions)
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 57

APPENDICES

2017 2018 2019 2020 2021

TOTAL PAYMENTS $414.0 $429.6 $466.6 $479.7 $479.9

MINORITY-OWNED OR WOMEN 

OWNED BUSINESSES TOTALS

$ $109.61 $98.0 $98.3 $106.5 $130.0

% 26.5% 22.8% 21.1% 22.2% 27.1%

MINORITY-OWNED $ $54.6 $49.5 $54.0 $62.1 $87.4

% 13.2% 11.5% 11.6% 12.9% 18.2%

WOMEN-OWNED $ $66.9 $59.5 $52.0 $53.9 $54.2

% 16.2% 13.9% 11.2% 11.2% 11.3%

BOTH MINORITY-OWNED 

AND WOMEN-OWNED

$ $11.9 $11.1 $7.7 $9.5 $11.6

% 2.9% 2.6% 1.7% 1.9% 2.4%

ASIAN AMERICAN $ $30.1 $28.8 $31.5 $37.7 $59.2

% 7.2% 6.7% 6.8% 7.9% 12.3%

BLACK AMERICAN $ $14.2 $9.5 $6.2 $6.9 $9.5

% 3.4% 2.2% 1.3% 1.4% 2.0%

HISPANIC AMERICAN $ $9.5 $8.4 $12.0 $15.0 $16.7

% 2.3% 2.0% 2.6% 3.1% 3.5%

NATIVE AMERICAN $ $0.2 $2.2 $3.9 $1.8 $1.9

% 0.1% .05% 0.8% 0.4% 0.4%

OTHER MINORITY $ $0.4 $0.7 $0.1

% 0.1% 0.1% 0.0%

Note: Percentages do not total to 100 due to overlap between minority-owned and women-owned businesses.

APPENDIX A: CONTRACTING AND TREND DATA

FDIC Contract Payments to MWOBs by Year (in Millions)
58 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

APPENDICES

2017 2018 2019 2020 2021

TOTAL ACTIONS 737 565 518 409 404

MINORITY-OWNED OR WOMEN 

OWNED BUSINESSES TOTALS

# 210 166 152 117 135

% 28.5% 29.4% 29.3% 28.6% 33.4%

MINORITY-OWNED # 100 87 68 53 55

% 13.6% 15.4% 13.1% 13.0% 13.6%

WOMEN-OWNED # 151 119 112 89 95

% 20.5% 21.1% 21.6% 21.8% 23.5%

BOTH MINORITY-OWNED AND 

WOMEN-OWNED

# 41 40 28 25 15

% 5.6% 7.1% 5.4% 6.2% 3.7%

ASIAN AMERICAN

# 63 54 33 26 27

% 8.6% 9.6% 6.4% 6.4% 6.7%

BLACK AMERICAN

# 22 11 15 14 11

% 3.0% 1.9% 2.9% 3.5% 2.7%

HISPANIC AMERICAN

# 4 11 9 7 10

% 0.5% 1.9% 1.7% 1.7% 2.5%

NATIVE AMERICAN

# 7 6 5 3 4

% 1.0% 1.1% 1.0% 0.7% 1.0%

OTHER MINORITY

# 4 5 6 3 3

% 0.5% 0.9% 1.1% 0.7% 0.7%

Note: Percentages do not total to 100 due to overlap between minority-owned and women-owned businesses.

APPENDIX A: CONTRACTING AND TREND DATA

FDIC Contract Actions to MWOBs by Year (in Millions)
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 59

APPENDICES

NAICS NAICS DESCRIPTION DOLLAR 

AMOUNT OF AWARDS

DOLLAR 

AMOUNT OF 

MWOB AWARDS

541511 Custom Computer 

Programming Services $266,692,710.22 $256,842,269.00

541519 Other Computer-Related Services $227,130,905.15 $114,357,213.14

524128 Other Direct Insurance Carriers

(except Life, Health, and Medical) $98,585,385.00 $0

541611 Administrative Management and General 

Management Consulting Services $42,688,361.50 $598,914.50

524113 Direct Life Insurance Carriers $32,000,000.00 $0

511210 Software Publishers $23,327,596.71 $10,910,866.31

518210 Data Processing, Hosting, and 

Related Services $22,756,282.74 $1,015,282.74

541512 Computer Systems Design Services $22,509,507.76 $662,805.80

561110 Office Administrative Services $15,962,447.00 $14,387,362.20

519130 Internet Publishing and Broadcasting 

and Web Search Portals $15,820,401.85 $25,000.00

$767,473,597.93

TOTAL OF TOP 10

$368,673,884.24 

NON-MWOB

$398,799,713.69 

MWOB

48%

52%

APPENDIX A: CONTRACTING AND TREND DATA

FDIC 2021 Contract Awards by Top 10 NAICS Codes
60 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

APPENDICES

FDIC TOTAL, PERMANENT 

AND EXECUTIVE MANAGER 

WORKFORCE

2017 2018 2019 2020 2021 +/-

CHANGE

TOTAL WORKFORCE (PERMANENT AND NON-PERMANENT)

MINORITY % 28.7% 29.8% 30.4% 31.3% 32.2% +0.9%

NON-MINORITY % 71.3% 70.2% 69.6% 68.7% 67.8% -0.9%

MEN % 55.2% 55.2% 55.1% 55.5% 56.0% +0.5%

WOMEN % 44.8% 44.8% 44.9% 44.5% 44.0% -0.5%

PERMANENT WORKFORCE

MINORITY % 29.0% 29.9% 30.4% 31.6% 32.6% +1.0%

NON-MINORITY % 71.0% 70.1% 69.6% 68.4% 67.4% -1.0%

MEN % 55.1% 55.3% 55.2% 55.6% 56.1% +0.5%

WOMEN % 44.9% 44.7% 44.8% 44.4% 43.9% -0.5%

TOTAL WORKFORCE - EXECUTIVE MANAGER 

(PERMANENT AND NON-PERMANENT)

MINORITY % 18.3% 17.6% 16.7% 19.7% 22.6% +2.9%

NON-MINORITY % 81.7% 82.4% 83.3% 80.3% 77.4% -2.9%

MEN % 61.1% 64.0% 62.3% 63.0% 62.9% -0.1%

WOMEN % 38.9% 36.0% 37.7% 37.0% 37.1% +0.1%

APPENDIX B: WORKFORCE DEMOGRAPHIC AND TREND DATA

FDIC Total, Permanent, and Executive 

Management Workforce
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 61

APPENDICES

RACE/ETHNICITY

PART I

MAJOR OCCUPATIONS

FDIC TOTAL WORKFORCE

TOTAL

GENDER HISPANIC

NON-HISPANIC OR LATINO

WHITE BLACK ASIAN AIAN TWO+

RACES

F M F M F M F M F M F M F M

ECONOMIST (0110)

TOTAL 83 27 56 1 2 11 45 4 3 9 4 0 0 2 2

% 32.5% 67.5% 1.2% 2.4% 13.3% 54.2% 4.8% 3.6% 10.8% 4.8% 0.0% 0.0% 2.4% 2.4%

CLF 32.9% 67.1% 1.95 3.3% 25.2% 55.8% 2.7% 2.8% 2.7% 4.4% 0.1% 0.2% 0.4% 0.6%

FINANCIAL ADMINISTRATION AND PROGRAM (0501)

TOTAL 130 62 68 1 3 26 47 30 11 4 6 1 0 0 1

% 47.7% 52.3% 0.8% 2.3% 20.0% 36.2% 23.15 8.55 3.1% 4.6% 0.8% 0.0% 0.0% 0.8%

CLF 56.3% 43.8% 5.8% 4.0% 38.6% 32.5% 23.1% 8.5% 3.1% 4.6% 0.8% 0.0% 0.0% 0.8%

ACCOUNTANTS AND AUDITORS (0510/0511)

TOTAL 84 50 34 2 0 24 23 12 4 11 5 0 0 1 2

% 59.5% 40.5% 2.4% 0.0% 28.6% 27.4% 14.3% 4.8% 13.1% 6.0% 0.0% 0.0% 1.2% 2.4%

CLF 60.1% 39.9% 3.9% 2.2% 44.2% 31.8% 5.6% 2.4% 5.4% 3.0% 0.3% 0.1% 0.7% 0.4%

KEY

CLF Percentage of Civilian Labor Force F Symbol denotes women

AIAN American Indian/Alaska Native M Symbol denotes men

APPENDIX B: WORKFORCE DEMOGRAPHIC AND TREND DATA

FDIC Total, Permanent, and Executive 

Management Workforce
62 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

APPENDICES

RACE/ETHNICITY

PART II

MAJOR OCCUPATIONS

FDIC TOTAL WORKFORCE

TOTAL

GENDER HISPANIC 

NON-HISPANIC OR LATINO

WHITE BLACK ASIAN AIAN TWO+

RACES

F M F M F M F M F M F M F M

FINANCIAL INSTITUTION EXAMINING (0570)

TOTAL 2,690 1,075 1,615 45 73 779 1,328 169 107 60 70 4 13 18 24

% 40.0% 60.0% 1.7% 2.7% 29.0% 49.4% 6.3% 4.0% 2.2% 2.6% 0.2% 0.5% 0.7% 0.9%

CLF 45.2% 54.8% 3.7% 3.1% 28.3% 44.1% 8.4% 3.4% 3.7% 3.5% 0.2% 0.1% 1.0% 0.6%

ATTORNEY (0905)

TOTAL 319 135 184 2 7 102 154 16 14 12 5 1 1 2 3

% 42.3% 57.7% 0.6% 2.2% 32.0% 48.3% 5.0% 4.4% 3.85 1.6% 0.3% 0.3% 0.6% 0.9%

CLF 33.3% 66.7% 1.9% 2.5% 26.7% 59.7% 2.5% 2.1% 1.6% 1.7% 0.1% 0.1% 0.6% 0.6%

GENERAL BUSINESS AND INDUSTRY (1101)

TOTAL 286 99 187 2 10 64 134 24 22 7 16 0 0 2 5

% 34.6% 65.4% 0.7% 3.5% 22.4% 46.9% 8.4% 7.7% 2.4% 5.6% 0.0% 0.0% 0.7% 1.7%

CLF 63.3% 36.7% 5.9% 2.9% 43.8% 27.1% 8.8% 3.6% 3.3% 2.4% 0.4% 0.2% 1.1% 0.6%

KEY

CLF Percentage of Civilian Labor Force F Symbol denotes women

AIAN American Indian/Alaska Native M Symbol denotes men

APPENDIX B: WORKFORCE DEMOGRAPHIC AND TREND DATA

FDIC Total, Permanent, and Executive 

Management Workforce
SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021 63

APPENDICES

ENTRY-LEVEL 

EXAMINER TREND 

DATA BY YEAR

TOTAL TWO

OR MORE AIAN ASIAN BLACK HISPANIC WHITE

F M F M F M F M F M F M

2005

ENTRY-LEVEL EXAMINER 

HIRES SINCE 2005 2,451 23 29 5 16 56 83 212 143 48 66 624 1,146

% 100% 0.9% 1.2% 0.2% 0.7% 2.3% 3.4% 8.6% 5.8% 2.0% 2.7% 25.5% 46.8%

CLF 100% 1.0% 0.6% 0.2% 0.1% 3.7% 3.5% 8.4% 3.4% 3.7% 3.1% 28.3% 44.1%

2021

ENTRY-LEVEL EXAMINER 

HIRES IN 2021 147 0 2 1 0 4 6 7 6 3 5 47 66

% 100% 0.0% 1.4% 0.7% 0.0% 2.7% 4.1% 4.8% 4.1% 2.0% 3.4% 32.0% 44.9%

CLF 100% 1.0% 0.6% 0.2% 0.1% 3.7% 3.5% 8.4% 3.4% 3.7% 3.1% 28.3% 44.1%

APPENDIX B: WORKFORCE DEMOGRAPHIC AND TREND DATA

Entry-Level Examiner Program Hire Trends

KEY

CLF Percentage of Civilian Labor Force F Symbol denotes women

AIAN American Indian/Alaska Native M Symbol denotes men
64 SECTION 342 DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT REPORT TO CONGRESS 2021

APPENDICES

 Asian American and Pacific Islander (AAPI)

 American Economic Association (AEA) 

 AEA Summer Training Program (AEASP)

 Affordable Housing Program (AHP)

 Alliances for Economic Inclusion (AEIs)

 Acquisition Service Branch (ASB)

 Black, Indigenous, and People of Color 

(BIPOC)

 Center for Financial Research (CFR)

 Chief Information Officer Office (CIOO)

 Chairman’s Diversity Advisory Councils 

(CDACs)

 Community Development Financial 

Institutions (CDFIs)

 Civilian Labor Force (CLF)

 Diversity, Equity, and Inclusion (DEI)

 Diversity, Equity, Inclusion, and 

Accessibility (DEIA)

 Division of Insurance and Research (DIR)

 Diverse Legal Service Providers (DLSPs)

 Division of Resolution and Receiverships 

(DRR)

 Diversity Self-Assessment (DSA)

 Equal Employment Opportunity (EEO)

 Employee Resource Groups (ERGs)

 Expression of Interest (EOI)

 First Generation Professionals (FirstGen)

 Heritage for Asian American and Pacific 

Islander (HAAPI)

 Hispanic Association of Colleges & 

Universities (HACU)

 Historically Black Colleges and 

Universities (HBCUs)

 Hispanic Organization for Leadership and 

Advancement (HOLA)

 Hispanic-Serving Institutions (HSI)

 Low- and moderate-income (LMI)

 Minority Depository Institutions (MDIs)

 Minority Recruitment Task Force (MRTF)

 Minority and Women-Owned Businesses 

(MWOBs)

 Minority and Women-Owned Law Firms 

(MWOLFs)

 National Association of Minority and 

Women-Owned Law Firms (NAMWOLF)

 Ohio Bankers League (OBL)

 Roundtable for Economic Access and 

Change (REACh)

 Technical Evaluation Panels (TEPs)

 Volunteer Income Tax Assistance (VITA)

APPENDIX C: ACRONYMS AND TERMS



FEDERAL DEPOSIT INSURANCE CORPORATION

Office of Minority and Women Inclusion

Section 342 Dodd-Frank Wall Street 

Reform and Consumer Protection Act

Report to Congress 2021