SECTION 342 

DODD-FRANK WALL STREET REFORM AND CONSUMER 

PROTECTION ACT - 2022 REPORT TO CONGRESS

Federal Deposit Insurance Corporation

Office of Minority and Women Inclusion

SECTION 342

DODD-FRANK WALL STREET REFORM 

AND CONSUMER PROTECTION ACT

2022 REPORT TO CONGRESS

Federal Deposit Insurance Corporation

Office of Minority and Women Inclusion

TABLE OF 

CONTENTS

1 MESSAGE FROM THE DIRECTOR

2 2022 KEY ACCOMPLISHMENTS AND INITIATIVES

5 DEIA VISION, MISSION AND GOALS

6 CULTURE: BUILD AND MAINTAIN INCLUSIVE WORKPLACE

6 Data Excellence

7 DEIA Promising Practices

10 CAREER: OPTIMIZE CAREER OPPORTUNITIES

13 Talent Acquisition 

24 Career Development

30 Employee Engagement

34 COMMUNICATION: DEIA MESSAGES

34 Social Media Campaign

35 Section 508 Accessibility for People with Disabilities

35 Division- and Office-Based DEIA Communications 

38 CONSISTENCY: STRENGTHEN DEIA POLICIES AND PROCEDURES

38 Expanding Self-Reported Demographic Data

39 Enhancing DEIA Training

40 COMMUNITY: PROMOTE INCLUSIVE PROSPERITY 

40 Maximizing Opportunities for MWOBs and MWOLFs

44 Financial Institution Diversity

46 Financial Inclusion

53 Minority Depository Institution Activities

57 CONCLUSION

58 APPENDIX A: Workforce Demographic and Trend Data

64 APPENDIX B: Contracting and Trend Data

68 APPENDIX C: Recruiting Events and National Observances

71 APPENDIX D: Acronyms and Terms

2022 Report to Congress 1 

Message from

The Director

Nikita Pearson

Deputy to the Chairman for External 

Affairs and Director of the Office of 

Minority and Women Inclusion

I am pleased to present the 2022 Federal 

Deposit Insurance Corporation’s Section 342 

of the Dodd-Frank Wall Street Reform and 

Consumer Protection Act Annual Report to 

Congress. Diversity, equity, inclusion, and 

accessibility (DEIA) is fundamentally important 

to the work of the FDIC. To meet our mission 

of maintaining stability and public confidence 

in the U.S. financial system we must maintain 

a high-performing workforce reflective of the 

diversity of the nation, support diversity at 

financial institutions, foster economic inclusion 

in underserved communities, and promote the 

fair inclusion of minority- and women-owned 

businesses (MWOB) in our operations.  

Promoting DEIA within the FDIC workforce and the broader financial industry was established as one of the seven 

FDIC Performance Goals in 2022. FDIC divisions and offices began executing their specific DEIA operational plans, 

which align with the agency’s strategic plan and address their particular needs and circumstances. The FDIC 

worked to engage employees at all levels across the agency in strategic initiatives. The Diversity and Inclusion 

Executive Advisory Council (EAC), comprised of the FDIC’s most senior leaders, meets monthly to discuss DEIA 

matters. Regional Directors discuss DEIA strategies with regional and field office employees. To hear perspectives 

directly from employees, Chairman Gruenberg meets regularly with employee resource groups. These efforts 

establish DEIA as a shared responsibility and support agency-wide accountability. To promote financial inclusion, 

we conducted outreach to MWOBs on contracting opportunities and provided technical assistance to educate 

prospective vendors on FDIC programs, policies, and procedures. Where we have influence, we collaborated with 

external entities to promote DEIA among our supervised financial institutions and remove barriers to financial 

inclusion for minority and low- and moderate-income communities.  

The FDIC’s strategies to implement these efforts are outlined in the 2021-2023 Diversity, Equity, and Inclusion 

Strategic Plan (DEI Strategic Plan). This report covers the second year of the DEI Strategic Plan and our work to 

embed DEIA into every aspect of our operations. It describes how the FDIC has taken steps to promote DEIA by 

challenging long held assumptions and processes, and demonstrating a willingness to try new approaches to 

yield results. I am grateful for my FDIC colleagues for their continued commitment to making 

meaningful progress.
2 2022 Report to Congress

2022 Key Accomplishments 

and Initiatives

In 2021, the FDIC worked to build foundational capacity by beginning to implement its 2021-2023 DEI 

Strategic Plan. For the second year of implementation of the plan during 2022, the agency focused on 

initiatives to improve outcomes by embedding DEIA priorities across the organization. The following 

information highlights key accomplishments from 2022.

IN OUR WORKFORCE

3.5%

Increased the percentage of 

female employees in general 

business and industry, a major 

occupational group, 

by 3.5 percent.

6%

Exceeded female attorney 

representation in the 

occupational civilian labor force 

(OCLF) by 6 percent (43 percent 

vs. 37 percent).

7.9%

Increased minority hiring among 

entry level examiners, the FDIC’s 

largest occupational group, 

by 7.9 percent.

14%

Increased representation of 

employees with disabilities to 14 

percent, exceeding the federal 

government’s goal of 12 percent 

and current federal government 

average of 9 percent.

25%

Increased minority 

representation among executive 

managers to 25 percent. 

33%

  Increased minority 

representation in total workforce 

to 33 percent.
2022 Report to Congress 3 

Adjusted pay of 260 

FDIC employees, or 

30 percent of those 

employees who applied 

to participate, through 

the agency’s pay 

adjustment process to 

ensure pay was set in 

alignment with current 

agency policy.

Reduced average 

Equal Employment 

Opportunity (EEO) 

complaint processing 

time for issuing Final 

Agency Decisions from 

43 days to 39 days.

Reduced 

separations 

among veterans 

from almost 13 

percent to 9 

percent.

Hosted 32 diversity 

dialogue sessions

to provide a safe 

space for employees 

to discuss DEIA 

topics. 

IN OUR OPERATIONS

y Awarded $281 million, or 46 percent, in new contracts to minority- and 

women-owned businesses (MWOBs).

y Awarded 32 percent of new contracts to MWOBs over the last five years.

y Made payments of $177 million to MWOBs, $47 million more than in 2021.

y Increased diverse participation rate in legal contracting to almost 23 percent 

with $3.52 million paid to minority- and women-owned law firms (MWOLFs) 

and diverse attorneys. 

AMONG SUPERVISED INSTITUTIONS AND COMMUNITIES

y Increased voluntary participation in the diversity self-assessment by 

16 percent. 

y Received almost 2 million visits to the #GetBanked webpage page, a resource 

to help those looking to open a bank account.

y Launched an inaugural event, attended by 1000 participants, for the Path to 

Prosperity webinar series to encourage small businesses to connect with the 

financial mainstream. 

y Provided 148 individual technical assistance sessions on approximately 

49 risk management, consumer compliance, and resolution topics to Minority 

Depository Institutions.

The highlighted accomplishments reflect the strong FDIC investment in tangible actions that will bring 

about sustained internal and external change. A diverse workforce, reflecting a variety of experiences and 

perspectives, is central to accomplishing the FDIC’s mission to safeguard the financial system. 
4 2022 Report to Congress
2022 Report to Congress 5 

DEIA Vision, Mission and Goals 

The FDIC’s DEIA vision is to have a workforce that is talented, diverse, and committed to fostering a safe, 

fair, and inclusive workplace and banking system. The FDIC remains committed to fostering a culture that 

exemplifies teamwork, embraces innovation, and values DEIA to achieve mission excellence. The agency’s 

DEIA values hold true to the vision and shape how we are expected to treat one another as colleagues 

and guide our interactions with vendors, financial institutions, and communities served. This year’s report 

discusses tangible actions to embed DEIA into the FDIC’s operations aligned with the five overarching 

strategic goals outlined in the DEI Strategic Plan. 

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.

The following pages describe our DEIA program efforts and accomplishments for 2022.
6 2022 Report to Congress

Culture:

Build and Maintain an Inclusive Workplace 

The FDIC is committed to ensuring that leaders promote the vision and business 

case for DEIA by taking action to increase workforce diversity, maintaining 

equitable practices and fostering an inclusive workplace. 

Our culture informs every aspect of the FDIC’s operations. An inclusive culture is critical to achieving our 

agency mission and we continue to seek opportunities to embed DEIA into every aspect of our operations. 

FDIC employees continued to rate inclusion and engagement highly on the Federal Employee Viewpoint 

Survey (FEVS), but the results show more work is needed to improve upon the inclusive workplace culture 

that currently exists. In 2022, the FDIC leadership continued promoting the vision and importance of DEIA 

by focusing on data excellence and implementing DEIA best practices. 

Data Excellence

Building and Sharing Actionable Data

FDIC utilizes a data-driven approach to DEIA by making strategic decisions based on data analysis and 

interpretation. This data-driven approach allows OMWI to examine and organize our data with the goal of 

better serving our employees and customers. The use of our Diversity and Inclusion Analytics Dashboard to 

analyze workforce demographics allows leaders to make evidence-based decisions from identified patterns 

and trends to improve diversity, equity, and inclusion practices in FDIC. 

OMWI took several important steps to position the agency leaders to use this data for evidence-based 

decision-making in support of agency wide goals. These steps include efforts to increase access, awareness, 

and utility of the dashboard. Senior leaders in each FDIC division and office may access the dashboard 

at any time to assess the level of representation within their workforce, identify any gaps, and determine 

next steps. FDIC added support by increasing authorized staffing for DEIA analysts from one to two. These 

analysts are responsible for analyzing workforce demographics, identifying trends, and sharing relevant 

information with all levels of employees across the organization. To improve the collection of voluntarily 

self-reported demographic data, employees are periodically asked to review and update their information. 

Gathering and analyzing timely, accurate, and relevant DEIA data will continue to drive targeted actions and 

promote accountability. 
2022 Report to Congress 7 

DEIA Promising Practices

Promoting Consistent Pay Practices

Non-supervisory employees who were not included in a 2021 pay adjustment program were provided the 

opportunity to apply for a pay review under the same program in 2022. The goal was to confirm pay levels 

were set in accordance with the current FDIC pay-setting system implemented in 2021 to promote fair 

and consistent pay-setting. Of approximately 2,700 employees eligible for the 2022 review, 857 employees 

applied, and 30 percent of applicants (267 employees) received a pay adjustment. 

Improving Employee Satisfaction

The 2022 FEVS included a new DEIA Index. The index features four elements: Diversity, Equity, Inclusion, 

and Accessibility. The government-wide results will serve as a baseline to assess future changes as well as 

benchmark comparisons for agency DEIA initiatives. In 2022, the FDIC results exceeded the governmentwide results by at least five percentage points for each of the four elements.

Equal Employment Opportunity (EEO) Practices

The FDIC continued to see a positive trend in the processing of EEO complaints and the reduction of 

complaint activity. During the year, the number of filed complaints decreased from 29 in 2021 to 27, there 

were no findings of discrimination issued against the FDIC, all EEO counselings, investigations, Final Agency 

Decisions and Orders were completed within the regulatory timeframes, the processing time for issuing 

Final Agency Decisions on the merits of a complaint decreased from 43 days in 2021 to 39 days in 2022, and 

the processing time for complaint closures decreased from 631 days in 2021 to 562 days in 2022. 
8 2022 Report to Congress

FIGURE 1: FDIC Outranks Government and Peer Agencies in Inaugural DEIA Index 

77% 75% 69%

81% 76% 70% 80% 80% 72% 70% 65% 75% 75% 73% 67%

DEIA Index

(Overall)

Diversity Equity

Medium-sizedAgencies

Government-wide

FDIC

Medium-sizedAgencies

Government-wide

FDIC

Medium-sizedAgencies

Government-wide

FDIC

Inclusion Accessibility

Note: Percentages reflect workforce favorability of agency performance on each element

Medium-sizedAgencies

Government-wide

FDIC

Medium-sizedAgencies

Government-wide

FDIC

Benchmarking EEO Practices

The agency continued to benchmark the FDIC complaint activity against government-wide activity and that 

of agencies most similar to the FDIC to ensure a positive trend in the processing of EEO complaints and the 

reduction of complaint activity. 

Improving Alternative Dispute Resolution Mediation 

The FDIC continued to review its informal EEO Alternative Dispute Resolution (ADR) process to identify 

ways to improve program participation. For the past three years, the FDIC ADR participation rate has 

ranged between 40 and 46 percent, lower than the EEOC goal of 50 percent participation. Increased ADR 

participation could lead to increased settlements at the informal stage rather than the formal stage. To 

improve the ADR participation rate, the FDIC EEO Counselor will proactively encourage ADR participation 

to management and employees during the informal process and inform them of the benefits of an earlier 

resolution of the issues.
2022 Report to Congress 9 

As part of its benchmarking review of the informal EEO ADR process, FDIC surveyed fifteen other federal 

agencies about their ADR programs, processes and best practices. To determine why more FDIC employees 

do not opt to participate in mediation, OMWI surveyed employees who participated. Although few 

employees responded, those that did expressed they found the mediation process stressful. They also 

expressed a fear of retaliation and concern that the 90 calendar days allotted for mediation is not enough 

time. FDIC is exploring ways to address those concerns and increase EEO ADR participation. 

The FDIC will continue to review and modify procedures in accordance with EEOC regulations, monitor 

complaint activity, and promote the benefits of ADR as a viable and cost saving alternative to traditional 

EEO discrimination complaint processing. While we have had success over the last two years in bolstering 

the agency’s culture, much work is still needed to build a workplace in which everyone can feel accepted 

and valued, show up as themselves, and do their best work. Fostering this inclusive culture better positions 

FDIC to attract and retain a talented diverse workforce to meet its mission. 
10 2022 Report to Congress

Career: 

Optimize Career Opportunities

We are committed to recruit, hire, and develop a high-performing workforce that 

reflects the communities we serve by optimizing experiences throughout an 

employee’s career. 

FIGURE 2: 2022 FDIC Workforce by Race/National Origin

Black or African American (17%)

AI/AN (1%)

Asian (8%)

Hispanic or Latino (5%)

Two or More Races (2%)

White (67%)

Note: AI/AN refers to American 

Indian/Alaska Native. 

Promoting DEIA within the FDIC workforce was a key priority for 2022 and was made one of the seven FDIC 

Performance Goals. By tracking the selections and promotions of racial-ethnic minorities, females, people 

with disabilities, and veterans, the FDIC strengthens its commitment to building an inclusive workplace that 

is representative of the communities it serves. 
2022 Report to Congress 11 

The FDIC has made progress toward improving the racial and ethnic diversity of its workforce to better 

reflect the demographics of the civilian labor force (CLF)1. As illustrated by the chart below, since 2021, 

representation of every tracked minority group either increased or remained the same despite a small 

decrease in total staffing. In fact, minority representation increased each year since 2018 in both the total 

workforce and in executive management. 

Minority representation among entry level bank examiners, the FDIC’s largest occupational group, also 

increased. Further, the percentage of employees in the agency’s workforce who identify as American Indian/

Alaska Native, Asian, Black/African American, or Native Hawaiian/Pacific Islander exceeds the percentage 

of such employees in the CLF. The Hispanic representation continues to lag behind the CLF. While minority 

representation has seen incremental progress, minority representation in senior level and leadership 

positions lags behind the workforce demographics. (Please refer to Appendix A for details.) 

Compared to the benchmark, female employees remain underrepresented in the FDIC’s workforce and their 

representation has seen small reductions every year since 2018. Representation of females at the executive 

level also decreased to 35 percent in 2022, which is 9 percent below their representation within the 

workforce. Despite these gender diversity trends among the workforce, two occupational groups within the 

FDIC have demonstrated some success. At almost 43 percent, the representation rate for female attorneys 

exceeded the OCLF of 37.1 percent. Although still lagging the OCLF of 63 percent, female employees in the 

general business and industry occupational group increased to 38 percent. (Please refer to Appendix A for 

details.)

The representation of veterans with disabilities varied for the year. In 2022, veterans with disabilities in the 

FDIC workforce remained unchanged at 9 percent. During the year, veterans with disabilities represented 

9 percent of new hires. Between 2021 and 2022, the FDIC saw a decline in veteran separations from 

approximately 13 percent to 9 percent, but the promotion rate for veterans declined slightly from 11 percent 

in 2021 to 7 percent in 2022. 

Like those strategies used for veterans, FDIC held similar targeted events to recruit and retain employees 

with disabilities (see Employee Engagement section for more information). Such efforts correlate with 

incremental increases in workforce representation of employees with disabilities. The FDIC’s representation 

of employees with disabilities (13.9 percent) is above both that of the federal government’s goal (12 percent) 

and current federal government average (9.4 percent). With 2.4 percent of its workforce reporting targeted 

disabilities, the FDIC also outperformed the government-wide goal of 2 percent representation for 

the group.

1

As required by the EEOC, the EEO Tabulation 2014-2018 (5-year American Community Survey (ACS) data) 

serves as the primary external benchmark (CLF) for conducting comparisons between the racial, ethnic, and 

sex composition of each employer’s workforce to its available labor market.
12 2022 Report to Congress

Specific workforce representation opportunities still exist based on representation gaps when compared 

to the CLF. The biggest diversity workforce challenge is the underrepresentation of individuals who identify 

as Hispanic/Latino and White Females. At less than five percent, Hispanic/Latino representation is well 

below the CLF percentage of 13 percent based on 2014-2018 American Community Survey data.2 Workforce 

representation of White females is almost seven percent below their representation in the corresponding 

benchmark. While the agency is focusing its efforts to reach individuals that identify as Hispanic/Latino, the 

FDIC will continue recruiting strategically to reach all available talent in the labor market, providing upward 

mobility opportunities options to current employees, and supporting employee engagement at all levels. 

TABLE 1: The FDIC’s 2022 Workforce Demographic Data, by Sex and Race/Ethnicity 

Year Total Female Male Hispanic/ 

Latino White

Black/

African 

American

Asian NH/PI AI/AN Two or 

More

2022 5,827 43.60% 56.40% 4.69% 67.03% 17.22% 8.26% 0.14% 0.57% 2.10%

2021 5,892 43.96% 56.04% 4.53% 67.82% 17.16% 7.64% 0.14% 0.64% 2.07%

%

change - 72 -0.36% +0.36% +0.16% -0.65% +0.06% +0.62% - -0.07% 0.30%

CLF

 (2014-

2018) 

- 48.21% 51.79% 12.98% 67.47% 12.31% 4.37% 0.16% 0.62% 2.10%

*AI/AN refers to American Indian or Alaska Native. NH/PI refers to Native Hawaiian

or Other Pacific Islander.

** Highlighted data show less than expected participation rate.

FIGURE 3: FDIC’S MINORITY AND FEMALE REPRESENTATION:TOTAL WORKFORCE

10%

0%

20%

30%

40%

45% 45% 44% 44%

30% 31% 32% 33%

50%

60%

2019 2020 2021 2022

Females Minorities

2

 See footnote 1.
2022 Report to Congress 13 

Talent Acquisition 

The FDIC implemented several strategic initiatives to address recruitment and retention challenges. 

Hispanic/Latino Recruitment and Retention

In 2022, the FDIC established an interdivisional, executive level taskforce to begin developing an agencywide Hispanic/Latino recruitment strategy. A Senior Special Advisor is leading the effort to implement 

Hispanic/Latino outreach and recruitment initiatives. Representatives from the Employee Resource Group 

(ERG) Hispanic/Latino Organization for Leadership Advancement (HOLA) are members of the taskforce. They 

provide insight into the Hispanic/Latino culture in the country and at the FDIC. In 2023, FDIC will finalize 

the strategy and begin implementation of initiatives. More details regarding 2022 recruitment initiatives are 

shared later in this Report.

Minority Recruitment Task Force

The Minority Recruitment Task Force (MRTF) works to increase the number of individuals from diverse 

backgrounds that apply to FDIC job postings. MRTF includes 46 recruiters from divisions and offices across 

the organization in various offices across the country. An additional ten new recruiters joined the MRTF in 

2022 to strengthen outreach at schools with extensive minority talent. Recruiters help build meaningful 

relationships with targeted schools and their students. Targeted schools include majority institutions with 

at least 50 graduates eligible for hire as a Financial Institution Specialist or minority-serving institutions with 

significant minority populations from one of the underrepresented groups within the examiner workforce. 

In 2022, MRTF recruiters participated in information sessions, and panel discussions featuring ERG members 

at targeted schools. They established relationships with student groups and school personnel, sharing 

internship and job opportunities. 

Implementing Division and Office DEIA Plans

Managers and supervisors in the program offices play a critical role in attracting and retaining talent. In 

2021, FDIC required divisions and offices to develop DEIA operational plans. The completed division and 

office plans outlined strategies toward addressing representation gaps in the workforce, embedding DEIA 

into operations, and holding leaders accountable for ensuring they accomplish the goals of the FDIC DEI 

Strategic Plan. These plans were informed by a barrier analysis conducted to identify policies, procedures, or 

practices that may potentially affect EEO at the FDIC. Divisions and Offices began implementing these plans 

in 2022 and will continue through 2023. 
14 2022 Report to Congress

Recruiting for Key Occupations

During 2022, the FDIC focused on recruiting and hiring efforts on four mission-critical occupations: Bank 

Examiner, Economist, General Business and Industry, and Attorney. Appendix A presents historical trend 

data for each occupation.

Bank Examiner

Examiners carry out the FDIC’s bank supervision responsibilities and primarily include staff in the Division of 

Risk Management Supervision (RMS), Division of Depositor and Consumer Protection (DCP), and Division of 

Complex Institution Supervision and Resolution (CISR). 

FDIC employees who began as entry-level examiners occupy a significant portion of executive and 

managerial positions across the agency. Thus, diverse representation within the examiner workforce 

continues to be key to expanding leadership representation across the broader workforce. A challenge 

for the FDIC is the ability to attract and retain minorities and females as bank examiners, the largest FDIC 

occupational group. The agency has seen some success, as minority representation for entry level bank 

examiner hiring increased by almost 8 percent from 2021 (23.8 percent) to 2022 (31.7 percent). However, the 

representation of female employees among entry-level examiners hired by the FDIC fell from 40.8 percent in 

2021 to 35.4 percent in 2022. This is a direct result of the less than expected representation in the OCLF for 

Hispanics and White females in the entry level examiner hiring in 2022. 

In the past, our ability to attract and retain examiners has been impacted by factors such as job-related 

travel requirements and low turnover. However, over time, travel requirements have generally decreased 

nationwide and more telework flexibilities are offered. During the pandemic, turnover increased, presenting 

opportunities to implement a broad, diverse recruitment strategy to fill mission-critical positions. 

For the 2022 to 2023 hiring cycle, the FDIC continued implementing strategies to increase the diversity of 

applicants for entry-level examiner job postings. First, the agency extended the number of days job postings 

are open to provide more opportunities for individuals to apply. Second, the FDIC increased the interview 

capacity to accommodate more candidates at hiring events. Finally, the agency increased the number of 

hiring event candidates referred for selection.
2022 Report to Congress 15 

FIGURE 4: Financial Examiners (0570 Series) by Race/National Origin

Black or African American (10%)

Asian (5%)

Hispanic or Latino (4%)

Two or More Races (1%)

White (79%)

TABLE 2: Examiners Over Time, by Race/National Origin and Gender

Examiner (0570) % Minority

Region 2019 2020 2021 2022

All Regions 558 (21%) 596 (21%) 583 (22%) 564 (22%)

Atlanta 126 (36%) 135 (34%) 128 (33%) 119 (32%)

Chicago 39 (10%) 43 (10%) 38 (10%) 37 (10%)

Dallas 129 (30%) 149 (32%) 142 (31%) 143 (32%)

Kansas City 20 (5%) 22 (5%) 24 (6%) 21 (5%)

New York 78 (18%) 99 (20%) 96 (20%) 86 (20%)

San Francisco 76 (20%) 107 (25%) 110 (28%) 113 (28%)

Washington 90 (29%) 41 (27%) 45 (24%) 45 (24%)

Examiner (0570) % Female

Region 2019 2020 2021 2022

All Regions 1,064 (39%) 1,100 (40%) 1,075 (40%) 1,037 (40%)

Atlanta 139 (39%) 166 (42%) 156 (41%) 140 (38%)

Chicago 163 (41%) 166 (39%) 150 (39%) 152 (41%)

Dallas 166 (39%) 189 (40%) 189 (42%) 179 (40%)

Kansas City 134 (33%) 153 (36%) 155 (37%) 148 (37%)

New York 195 (44%) 212 (44%) 204 (43%) 188 (43%)

San Francisco 130 (35%) 149 (35%) 142 (36%) 141 (35%)

Washington 137 (43%) 65 (43%) 79 (43%) 89 (48%)
16 2022 Report to Congress

Economist 

The Division of Insurance and Research (DIR) employs most of the agency economists that focus on various 

analysis for rulemaking, research, and assessing the adequacy of the Deposit Insurance Fund. Minority 

representation among economists at the FDIC has declined over the past couple of years to 31 percent in 

2022. Representation among Black/African American employees and employees belonging to two or more 

races saw reductions of more than 3 percent and 2 percent respectively. Female representation among 

economists at the FDIC is above the CLF and remained unchanged from 2021 to 2022, at 33 percent. (See 

Appendix A for historical trend data.) 

The FDIC has focused on proactively building career pathways between students and the profession. The 

agency targeted schools with higher numbers of minorities and female employees in economics and 

finance. In 2022, FDIC’s Center for Financial Research (CFR) hosted students from two programs designed 

to advance the participation of women and minorities in economics: the American Economic Association 

(AEA) Summer Training and Scholarship Program (AEASP) and the FDIC Summer Research Fellows Program. 

In addition, the FDIC expanded outreach to minority-serving institutions for the FDIC Academic Challenge, 

an annual competition for college students.

American Economic Association Summer Training and Scholarship Program

Howard University, a historically black university in Washington, D.C., hosted the 2022 AEASP, which since 

1974 has increased diversity in economics by preparing undergraduate students for doctoral programs. AEA 

involved experiential learning partners in the program, allowing students to complete a research project 

under the mentorship of professional economists and providing experiences unique to the nation’s capital. 

The FDIC was one of 13 organizations that collaborated with AEASP in 2022 as part of the experiential 

learning program. Participants commended the program. A rising sophomore at North Carolina Agricultural 

and Technical State University commented: 

“

I was a part of the American Economic Association Summer 

Program where I had the opportunity to meet a multitude of 

Ph.D. economists along with other people doing work in the 

field from diverse backgrounds. I did research with the FDIC. 

We did research on bank openings and demographics in North 

Carolina, which was very exciting and completely new for me! 

“ I learned STATA and truly put my statistical analysis skills to 

the test. I really appreciated the experience with the FDIC!

–Sophomore 

 North Carolina Agricultural and 

 Technical State University
2022 Report to Congress 17 

Summer Research Fellows Program

The CFR Summer Research Fellows Program targets Ph.D. candidates who have completed their qualifying 

exams and have well-developed research toward their doctorates. These emerging scholars learn about 

the work of the agency’s economists while continuing their research. The program recruits heavily through 

the AEA Summer Economics Fellows Program (SEFP), designed to advance the participation of women and 

minorities in economics. Four students joined the program in 2022. Two of four 2022 CFR summer fellows 

were recruited through AEA SEFP. Further, in 2022, a former CFR fellow was selected to present her work at a 

poster session of the 2022 Bank Research Conference the FDIC hosted. 

Academic Challenge

The FDIC Academic Challenge is a team competition for undergraduate students in economics, finance, 

and related fields. It is designed to bring real-world banking policy into the classroom. The FDIC expanded 

outreach to 135 minority-serving institutions, including 44 historically black colleges and universities 

(HBCUs). Over 9 percent of the institutions with submissions to the 2021-2022 Academic Challenge were 

HBCUs, relative to 3 percent of institutions nationally. 

General Business and Industry 

The General Business and Industry occupation includes staff that carries out bank resolution and 

receivership activities. The majority of these employees work in the FDIC’s Division of Resolutions and 

Receiverships (DRR). Historically, females and minorities have been underrepresented in this segment of the 

FDIC’s workforce. 

To bolster hiring efforts there was intentional outreach to recent graduates at women- and minority- serving 

institutions. The goal was to hire entry level candidates into career ladder positions. Graduates participated 

in 30-day rotations within different areas of DRR to receive a well-rounded perspective. The program allows 

candidates to use their skills to improve existing business processes. Candidates in 2022 had different 

ethnic backgrounds, genders, and statuses as veterans. DRR welcomed a group of new employees into this 

program in 2022 and plans to welcome two more classes in 2023. By the end of 2023, DRR anticipates it will 

have converted 25 recent graduates to permanent employment through the Recent Graduate Program. 

The division also uses the Diversity Outreach Student Internship Program (DOSIP) to further increase its 

minority representation. DOSIP provides a career exploration opportunity for current undergraduate and 

graduate students from diverse socioeconomic and cultural backgrounds. The FDIC recruits DOSIP interns 

through third-party sponsoring organizations that conduct outreach recruitment activities to diverse student 

populations. 

In late 2022, DRR developed a new training policy that provides division-wide opportunities for development 

in 17 key bank-closing processes. This training provides employees equal opportunities to develop and 

enhance their careers, which in turn will increase diverse representation at all levels within DRR. 
18 2022 Report to Congress

FIGURE 5: Increased Minority and Female Representation in the General Business and Industry

26%

34%

29%

35%

31%

35%

33%

38%

2019 2020 2021 2022

Minorities Female

Attorney

Attorneys in the Legal Division ensure the FDIC’s adherence to laws and regulations, provide legal advice 

to divisions and offices, assess risks, and represent the FDIC in judicial and administrative proceedings. 

In 2022, female attorneys represented 43 percent of the Legal Division workforce and 34 percent of its 

executive level management. Minorities showed a 10-percent increase in representation among the 

division’s workforce (22 percent) when compared to 2021 (20 percent), with a notable increase among 

Hispanic/Latino men. Minorities represent 23 percent of the division’s executive management. 

The Legal Division, in partnership with the Corporate Recruitment Program (CRP), established the Legal 

Division Recruitment Program. When announced, 22 permanent division employees volunteered to serve 

on a collateral duty two-year assignment to recruit qualified, diverse applicants. In 2022, these volunteer 

recruiters participated in 12 outreach events. See Appendix C for list of events.

The division also hosted 11 law school-specific information sessions. Other actions from 2022 are 

participation in virtual and in-person national outreach events and sharing intern and Honors Attorney 

Program opportunities. The Honors Attorney Program is a competitive two-year, entry-level professional 

development program. It is available to law school students in their final year, law school graduates in a 

post-graduate program, and recently graduated judicial clerks to learn and work in support of the FDIC’s 

mission. In 2022, 20 percent of the program participants self-identified as belonging to a minority racial 

or national origin group, 20 percent self-identified as LGBTQ+, and 10 percent self-identified as having 

a disability. In 2022, the Legal Division established relationships with 199 American Bar Associationaccredited law school placement offices and student groups.
2022 Report to Congress 19 

Enhancing External Partnerships

Reaching Professional Affinity Groups

Each year, the CRP works with professional affinity groups. In 2022, CRP coordinated 32 events with 

organizations such as Prospanica – The Association of Hispanic MBAs & Business Professionals, the Thurgood 

Marshall College Fund, and Women in Insurance & Financial Services. The CRP co-hosted eight speaking 

engagements with support from the FDIC’s National Outreach Executive Task Force Subcommittee. The 

subcommittee connects FDIC leaders at corporate grade 13 through corporate manager 02 levels with 

opportunities to communicate with these audiences. See Appendix C for a list of events. 

Refining the Key Schools List

For more than a decade, the FDIC has established and developed relationships with schools across the 

country to build a talent pipeline of entry-level examiners. Every three years, CRP reviews the list of targeted 

colleges and universities, known as the Key Schools List, to ensure that the recruitment sources are 

appropriate to support evolving corporate recruiting and hiring priorities. 

In 2022, the CRP made several changes. Historically, the CRP has recruited from this list almost exclusively for 

examiner positions. However, the CRP expanded recruitment to include entry-level positions within the Chief 

Information Officer Organization (CIOO), DIR, DRR, and the Legal Division, as well as non-examiner entry-level 

positions within RMS.

CRP concentrated on schools known for academic excellence in targeted areas and a greater emphasis on 

diversity. In making these changes, CRP collaborated with the FDIC Executive Examiner Steering Committee, 

the Diversity and Inclusion Executive Advisory Council (D&I EAC), the FDIC Legal Division, and OMWI. 

The new list has schools that meet criteria in four categories: top performing schools, top ranked schools, 

diversity schools, and Executive Examiner Steering Committee additions. Minority-serving institutions 

represent 50 percent of the list; previously, they accounted for a little over 12 percent. More than 30 percent 

of schools have at least 30 percent female undergraduate students; over 18 percent have been recognized for 

programs for persons with disabilities; and 20 percent are ranked best for veterans. In the next two years, the 

FDIC will assess the changes to ensure the continuation of a strong talent pipeline. 

The FDIC assigns over 250 collateral-duty recruiters to maintain contact with assigned colleges or universities 

for three years. In that time, recruiters build relationships with professors, deans, key school contacts, and 

student groups and attend events on campus or online. 
20 2022 Report to Congress

Expanding Hispanic/Latino Outreach and Recruitment

Representation increased among Hispanic/Latino female attorneys (1.2 percent in 2022 versus 0.6 percent 

in 2021). In addition, Hispanic/Latino representation increased among general business and industry 

employees overall, with Hispanic/Latino female employees representing 1.3 percent of the employees (an 

increase of 0.6 percent since 2021) and Hispanic/Latino men representing 4.8 percent (an increase of 1.3 

percent). Despite these incremental increases, the FDIC continues to have persistent underrepresentation 

of Hispanic/Latino employees. In 2022, the FDIC began development of an agency-wide Hispanic/Latino 

Recruitment Strategy. The CRP, OMWI, and the Hispanic Organization for Leadership and Advancement 

(HOLA) Board of Directors collaborated on initiatives to:

y Increase the pipeline of Hispanic/Latino students from high school and college

y Create new and strengthen existing partnerships with Hispanic/Latino organizations

y Increase retention rates and engagement of Hispanic/Latino employees

As part of this strategy, the FDIC established an interdivisional, executive-level task force to address 

challenges for Hispanic/Latino recruitment and retention. Along with the co-chairs – Deputy to the 

Chairman for External Affairs and Director of OMWI and the Director of the Office of Legislative Affairs – the 

task force includes representation from the Chief Human Capital Officer, the General Counsel, and Regional 

Directors. Along with these executives, task force members include the president and vice president of 

HOLA to provide insight into the Hispanic/Latino culture in the country and at the FDIC. In April, the agency 

designated a Senior Special Advisor to focus on the implementation of the Hispanic/Latino outreach and 

recruitment initiatives. 

Other efforts include the FDIC’s annual Hispanic Heritage Month program. Also, the FDIC partnered with the 

Hispanic Association of Colleges and Universities (HACU) for the inaugural Hispanic-Serving Institutions 

Week in September 2022. Throughout the week, panelists shared ways to hire from underrepresented 

communities, and discussed the importance of DEIA initiatives and the role of allyship in achieving an 

inclusive work environment. 

The FDIC is expanding its relationship with HACU on a Black, indigenous, and people of color (BIPOC) 

initiative that seeks to build financial capability, focusing on Hispanic-serving institutions and organizations. 

The FDIC also participated in HACU’s National Internship Program and provided financial education to its 

students, using the FDIC Money Smart financial education curriculum as part of a professional development 

series. Additional BIPOC initiative information is found in the Financial Inclusion section on page 44. 

The Legal Division, with the DOSIP, partnered with HACU to recruit Hispanic/Latino law students for legal 

internships. 
2022 Report to Congress 21 

In partnership with DOA, OMWI authored a Hispanic marketing proposal to engage with the Hispanic/

Latino community to continue relationship building and federal government career exploration. For many 

students and young professionals of color, building a long-term perspective on careers can be difficult. 

To address these obstacles, the FDIC hosted three sessions to teach students to strengthen their interview 

skills, build their core professional network, and extend their professional reach:

y The Association of Latino Professionals for America offered an opportunity to connect with students 

and new graduates through the Boston Regional Student Symposium. The FDIC’s session featured two 

Hispanic/Latino employees from DOA and RMS who taught about ways to avoid common interview 

mistakes. Following the session, the FDIC recruiters participated in a career fair, where they shared 

information on FDIC culture and career opportunities.

y At the HACU Annual Conference, representatives from OMWI and DOA delivered a presentation 

on networking. Students received tips on informational interviews and building an elevator pitch. 

The speakers also suggested ways to use social media to supplement in-person networking and 

engagement. 

y During the Prospanica Conference & Career Expo, an FDIC executive led a discussion that provided ideas 

to address challenges of networking, such as getting started, maintaining relationships, and having 

purposeful conversations.

Strengthening Engagement with Historically Black Colleges and Universities 

The FDIC has a partnership with the White House Initiative on Advancing Educational Equity, Excellence 

and Economic Opportunity through Historically Black Colleges and Universities (WHI-HBCUs). The FDIC 

participated in the 2022 National HBCU Week conference, engaged with HBCU Scholars, and worked with 

the WHI-HBCU’s Economic Development Cluster, co-chaired by the FDIC’s Deputy to the Chairman for 

External Affairs and Director of the Office of Minority and Women Inclusion. During and after the conference, 

the FDIC presented two classes for HBCU Scholars selected for their academic achievement, civic 

engagement, and entrepreneurial spirit. The first, “Boss Up and Boss Well,” presented information about 

using the FDIC Money Smart resources to promote economic inclusion and entrepreneurship. The second, 

“The Key to Understanding Your Communication Style for Greater Success,” taught how understanding 

communication styles helps build relationships and achieve goals. 

Also, the FDIC supported the Economic Development Cluster’s HBCU Week session on Leveraging Your Past 

to Plan Your Future: HBCU Economic Development Profiles. The session included the release of the EDC’s 

new HBCU Economic Development Profiles Tool and presentations by HBCU presidents and others on how 

HBCUs can leverage their assets and work with economic development programs to engage community 

leaders, the private sector, and regional stakeholders on local economic development. In addition, HBCU 

graduates from the FDIC discussed FDIC careers and paid internships with students in accounting, business, 

finance, economics, law, information technology, and related fields.
22 2022 Report to Congress

To reach and attract diverse applicants, the FDIC’s Legal Division Recruitment Program collaborated 

with Racing Toward Diversity Magazine’s College Diversity Network/HBCU Division. Using the magazine’s 

connections with six HBCU law schools, the Legal Division hosted two virtual information sessions in 

August for HBCU law students and career professionals to strengthen engagements with the institutions 

and broaden the applicant pool. Recruiters spoke about the Legal Division’s practice areas and shared 

personal experiences, information about internships, and the 2023 Honors Attorney Program vacancy 

announcement. As a result, HBCU law schools contacted their Legal Division recruiters for additional 

information sessions. 

In November 2022, the FDIC participated in the 15th Annual HBCU Career Development Marketplace. Over 

400 HBCU students attended, representing more than 40 HBCUs. Recruiters conducted resume critiques 

and held one-to-three sessions with students. Members of the FDIC’s Association of African American 

Professionals (A3P) presented on “Money Management: Wealth Creation for College and Beyond” to over 

130 students. 

Bolstering Efforts to Attract Veterans and Persons with Disabilities 

The FDIC enhanced outreach to veterans and persons with disabilities. Through American Public University, 

Recruit Military, MBA Veterans Network, and Corporate Gray, which helps transitioning military personnel 

and their spouses connect with employers, the FDIC interacted with more than 100 veterans, transitioning 

military members, and spouses to provide information on education and experience required to qualify for 

FDIC opportunities. In 2022, FDIC recruiters attended six diversity events targeting veterans, veterans with 

disabilities, and spouses, and provided information on education and experience requirements. Recruiters 

also participated in eight events targeting persons with disabilities, including veterans. These events were 

hosted by Bender Consulting Services, LLC and Equal Opportunity Publications. 

The Legal Division participated in a “Virtual Conversation with the Washington and Lee Law School Chapter 

of the Disabled Law Students Association” which included discussions of the FDIC Honors Attorney Program 

and the Student Intern Program. The Legal Division is continuing outreach with the National Disabled Law 

Student Association and 47 member law schools. On a bi-weekly basis, the CRP distributed email with 

links to FDIC vacancy announcements to organizations on our diversity affiliate directory, which includes 

national affinity groups, veteran organizations, federal executive boards, state departments of vocational 

rehabilitation, and the FDIC’s internal ERGs. Throughout the calendar year, all jobs advertised in USAJobs 

were also posted on Corporate Gray’s job board. In addition, the FDIC advertised jobs and distributed email 

to the American GI Forum, Operation Warfighter, Recruit Military, and VetJobs.

On the Key Schools List, 202 schools, or 80.8 percent, offer programs for persons with disabilities, and 46, 

or 18.4 percent, have been recognized for programs for persons with disabilities. Also, 50 schools, or 20 

percent, have been identified as best for veterans, based on yellow ribbon status, GI funding, and overall 

rankings, which use data from the Department of Veterans Affairs and the Department of Education to 

identify colleges that have many students studying under the GI Bill and offer tuition relief for military 

members. 
2022 Report to Congress 23 

Strategic Human Capital Management Approach

In 2022, the FDIC emphasized the need for succession management to reduce the risk of vacancies in key 

positions and ensure the agency has a capable talent pipeline. The FDIC faces a high projected stream of 

retirements over the next five to 10 years. At the same time, rapid and significant change within the banking 

industry impacts the knowledge and skills needed for the FDIC’s future workforce. 

The FDIC formally established the Human Capital Strategic Planning and Analysis unit within the DOA 

to design an agency-wide approach to address talent pipeline challenges. The FDIC defined leadership 

competencies and began developing leadership role profiles as the basis for selection, assessment, and 

development of the pipeline. These efforts will define career paths and developmental options for career 

growth among the workforce. This strategic approach to workforce planning will help increase transparency 

and better prepare employees to map their careers. Over time, enhancements to assessments, 

development, and selection criteria should result in higher quality candidate pools and more objective 

hiring practices for leadership positions. 

In addition, the FDIC conducted an agency-wide Career Aspirations Survey to understand employee 

aspiration levels and the factors that influence pursuit of leadership roles. Approximately 56 percent of the 

targeted survey population who held grade levels eligible for current and future leader roles completed the 

survey. The survey results reinforce FDIC’s focus on promoting from within, so that the FDIC continues to be 

a place where people can grow and develop throughout their career. Among those who responded, almost 

60 percent aspire to build their career with FDIC, either in a management role (27 percent) or a higher-level 

non-supervisory role (30 percent). The results are being used to inform responsive succession strategies. 

To gain deeper insight into employee retention, the FDIC established a Retention Management Working 

Group, with leadership representation from across the agency. During 2022, the working group launched 

a self-service retention dashboard and implemented an improved FDIC Exit Survey. The revised exit survey 

incorporates self-identified disability status and reports on requests for reasonable accommodation 

responsive to prior EEOC technical assistance. The retention dashboard and exit survey enable leaders to 

explore and use data-driven strategies to prepare for employee turnover, internal transfer, and retirement 

risk. Going forward, this group will expand its focus on employee groups, inclusive of demographic 

subgroups, where evidence-based preventive tactics and strategies are or may be necessary to improve 

workforce retention and prepare for anticipated or intended departures.

The FDIC’s data-driven, research-based approach to succession management is designed to give leaders 

a more accurate understanding of the internal talent pool. 
24 2022 Report to Congress

Career Development

Building and maintaining a framework to promote a diverse leadership pipeline continues to be a priority. 

It is essential to provide opportunities for candidates and employees to optimize their career experiences 

through internships, and professional and leadership development programs. In addition, offer both formal 

and informal career development opportunities for employees, and continue agency-wide mentoring 

programs. 

Expanding the Talent Pipeline through Internship Programs 

Financial Management Scholar Interns

Financial Management Scholar (FMS) Interns serve as a pipeline for the Entry-Level Examiner Hiring 

Program. In 2022, corporate recruiters participated in more than 200 campus recruiting events and 

discussed educational requirements and federal application processes. As a result of these recruiting 

events, the FDIC hired 38 FMS, 14 percent from a minority racial/national origin group and 25 percent 

female. 

Student Intern Program 

Students gain valuable work experience through on-the-job training, virtual workshops and training 

sessions, online courses, networking opportunities, and mentoring in the Student Intern Program (SIP). 

In 2022, students enhanced their skillsets by attending events on networking in a virtual environment, 

balancing work and personal life, evaluating job opportunities, maintaining financial wellness, 

understanding business writing, building professional relationships, and planning for retirement. 

Through the SIP, interns had opportunities to meet and speak with FDIC executives and senior staff.

Chief Financial Officer Organization Intern Program 

The Chief Financial Officer Organization (CFOO) Intern Program allows the FDIC to use the Office of 

Personnel Management’s Pathways program to recruit and hire diverse interns below the corporate grade 

13. Since 2015, the CFOO converted 21 interns to permanent positions, 62 percent minorities and 57 percent 

female. In 2022, the CFOO hired 14 interns, 50 percent minorities and 29 percent female.

Legal Interns

The Legal Division’s internship programs play a vital role in career development. These programs include 

the Pathways Program, the DOSIP, and the Workforce Recruitment Program. In summer 2022, the Legal 

Division hired eight interns, including one from DOSIP. From this cohort, four remained onboard through 

the fall semester.

All legal interns participated in “The Student Intern Program: Passport to Legal Excellence.” The 

developmental program features the “Tour of the Legal Division,” an educational series in which each 

subdivision discusses its mission and initiatives. The interns also take part in a “Legal Perspectives Speaker 

Series,” featuring senior staff across the organization who have legal backgrounds, and they are provided 

training in practical application of leadership skills and emotional intelligence.
2022 Report to Congress 25 

Summer Scholars Student Internship Program 

In 2022, the FDIC hired 21 high school students (11 juniors and 10 seniors) as a part of the second Summer 

Scholars Student Internship Program (SSSIP). The 21 students represented a significant increase from the 

six students hired in the inaugural program. 

The SSSIP partnered with the District of Columbia (DC) Department of Employment Services Marion S. Barry 

Summer Youth Employment Program. This partnership provides DC high school students the opportunity 

to gain practical work experience, increase knowledge about careers in the financial sector and the federal 

government, and explore different career paths. 

Students work in divisions and offices of interest and participate in weekly enrichment activities with 

students from the National Credit Union Administration, Securities and Exchange Commission, Federal 

Housing Finance Agency (FHFA), and Office of the Comptroller of the Currency. These weekly activities are 

designed to expand their knowledge, develop skills, and encourage critical thinking. At the conclusion of 

the program, interns give capstone presentations to FDIC senior leaders. 

Building the Leadership Talent Pipeline 

First Generation Professionals

The First-Generation Professionals Program (FirstGen) hosted a graduation ceremony recognizing 37 

participants in its first cohort. During the ceremony, the DCP Director held an open dialogue about his 

journey as a FirstGen executive. In June 2022, FDIC launched the second cycle of the program. Alumni 

from the first cycle provided valuable feedback that helped shape the second cycle’s curriculum. Each 

program cycle is six-months and advertised via the FDIC’s Expression of Interest System to permanent FDIC 

employees (first generation and non-first generation).

The program is built around four cornerstones:

y Understand and navigate the FDIC’s culture

y Access the full range of the FDIC resources

y Set and achieve professional goals

y Recognize and overcome challenges

FirstGen allows participants to share peer-to-peer experiences, tailor goals, and obtain resources from 

Worklife and Career Management programs and Corporate University. 
26 2022 Report to Congress

Increasing Diversity in Leadership Ranks

FIGURE 6: Increasing Minority Representation Among Executive Managers

Minorities Female

17%

38%

20%

37%

23%

37%

25%

35%

2019 2020 2021 2022

There are 128 Executive Managers.

FIGURE 7: Minority Representation at Executive Level

Black or African American (11%)

Asian (7%)

Hispanic or Latino (3%)

Non-Minority (78%)

Two or More Races (3%)

2%

75%

2%
2022 Report to Congress 27 

FIGURE 8: Female Representation in Overall Workforce vs. Executive Level

Overall Workforce Executive Level

10%

0%

20%

30%

40%

50%

60%

38%

45%

37%

45%

37%

44%

35%

44%

2019 2020 2021 2022

FIGURE 9: Minority Representation in Overall Workforce vs. Executive Level

Overall Workforce Executive Level

30% 31%

17% 20%

32%

23%

33%

25%

2019 2020 2021 2022

In 2021, the FDIC implemented two rotational programs to expand developmental opportunities: the 

Leadership Excellence Acceleration Program (LEAP) and the Special Assistant (SA) Program. Individuals 

were selected for these yearlong programs in 2021 and completed the requirements in 2022. These 

programs build a diverse pool of candidates for management positions, enhance succession planning 

and support employees in advancing to management roles. 
28 2022 Report to Congress

LEAP is a leadership development program with a focus on increasing diversity in the FDIC’s leadership. 

LEAP targets corporate grade 12 to corporate grade 15 employees who have not yet had the opportunity to 

lead at the FDIC. For those interested in developing their careers into manager-level roles, LEAP provides 

the tools they need to be “day-one ready” when entering first-line management ranks through participation 

in training courses and developmental assignments. In 2022, there were 15 selectees, with minorities 

representing 47 percent, female selectees representing 53 percent, and those identifying as having 

disabilities representing 13 percent.

The inaugural year of the FDIC’s SA rotational program was beneficial to the twenty-three participants 

selected for the one-year program to serve as special assistants to division directors, deputy directors, and 

regional directors. The program supports the FDIC’s diversity goals by providing cross-functional experience 

to rising FDIC leaders, promoting a culture of excellence that supports and sustains high performance. 

The program participants have exposure to division and office operations at the senior level outside their 

permanent division or office. Throughout the year, the special assistants participated in quarterly meetings 

and training events, worked with coaches and mentors, and participated in self-development courses. 

Division-based Career Development Programs 

In addition to the agency-wide development programs, divisions and offices offered leadership 

development programs to address their unique needs.

RMS Journeys 

RMS, in collaboration with DOA, announced RMS Journeys, an opportunity for employees to hear leaders 

discuss career steps they took on their way to their current roles, including what they found surprising, 

rewarding, enjoyable, useful, and challenging. Based on results of a Career Aspiration Survey conducted 

earlier in the year, RMS and DOA designed the program to provide RMS employees information about how 

to progress in their careers. The first RMS Journeys event took place on November 29, 2022, with a panel of 

field supervisors.

Legal Division Executive Management Shadowing Rotational Program

To mitigate effects of retirements, the Legal Division implemented a knowledge-transfer process by 

offering employees the opportunity to cross-train and increase visibility working on high-profile projects. 

The Executive Management Shadowing Rotational Program is a 90-day detail assignment that provides 

exposure to senior FDIC leaders who share insights into business operations while demonstrating how the 

division resolves complex issues. In addition to business unit and legal subject matter, the program includes 

training on leadership, communication, staffing, budgeting, and issues such as labor and employment. 
2022 Report to Congress 29 

The program’s third cycle ran from March through June 2022, and the fourth cycle began in the fall. A 

notable feature is the “Conversations with Future Leaders” discussion series, which provides an informal 

platform for participants to gain exposure to diverse perspectives on leadership development. Leaders are 

invited to one-hour sessions to offer their experience and advice on a management topic. 

DRR Executive Leadership Shadowing Program 

As part of the DRR’s DEIA Strategic Plan, the DEIA team created a program that provides DRR employees at 

the corporate grades 13 and 14 levels an opportunity to shadow a senior leader for a day. Eight employees 

applied in 2022. The objectives are to provide: 

y Exposure to leadership excellence

y Visibility to leaders

y Opportunity to view various decision-making styles and problem-solving techniques

y Experience communicating with leaders in one-on-one situations

Legal Administrative Support Career Aspirations Program

The Legal Innovation and Transformation Initiative 2025 assessed the future needs of the Legal Division. 

Based on its assessment, the Legal Division created and designed the Legal Administrative Support 

Career Aspirations Program (LASCAP) to help administrative support staff. Program participants acquire 

knowledge, skills, and abilities to prepare for one of three defined career tracks: program analyst, paralegal 

specialist, and management and program analyst. The program has three stages: selection and intake, 

development and application, and evaluation & post-program support. 

FDIC Mentoring Programs 

The Chairman’s Diversity Advisory Councils (CDACs) recommended development of the agency-wide 

FDIC Mentoring Program in 1999. This program allows FDIC employees to be paired in a mentor-mentee 

partnership for a one-year period. Since its inception, the mentoring program has sponsored over 1,600 

partnerships, with more than 2,700 employees participating. The goals of the program are to enhance 

employee job skills, empower employees, and promote good citizenship. 
30 2022 Report to Congress

The program supports succession planning by providing networking opportunities, allowing employees 

to explore career paths, and facilitating the transfer of organizational knowledge. To promote inclusion of 

employees with different backgrounds and experiences in the mentoring program, HR’s Career Management 

Program sends materials and information about the program to the chairpersons of each regional CDAC and 

leaders of every ERG. In 2022, the program selected 161 mentees, of which 27 percent self-identified as female 

and 22 percent reported belonging to a minority racial-ethnic national origin group (3 percent Asian, 

14 percent Black/African American, 3 percent Hispanic/Latino, and 2 percent belonging to two or more races).

The FDIC established the Leadership Mentoring Program (LMP) in 2016 as a part of the Workforce Development 

Initiative. This program helps prepare employees in management roles to seek more senior leadership 

positions by providing a formal setting to engage in career planning, discuss leadership strategies, gain new 

perspectives, share institutional knowledge, and improve understanding of FDIC’s culture and operations. The 

LMP supports the supervisory workforce through one-on-one guidance and coaching. In 2022, 13 employees 

participated in the program, of which 46 percent were female and 23 percent belonged to a minority racialethnic/national origin group (100 percent of which self-identified as Black/African American). 

Employee Engagement

At the FDIC, employee-led councils are vital to maintaining a diverse, equitable, inclusive, and accessible 

workplace. Throughout 2022, employee-led councils and groups transitioned their programming to a hybrid 

environment as the FDIC offered telework flexibility in which employees returned to the office at various levels. 

This change allowed for improved participation, collaboration, and networking.

Employee-Led Councils and Groups

CDACs and ERGs provide employee perspectives on DEIA issues. The CDACs give voice to broad-based 

employee views, drawing upon strengths and differences of all employees. The ERGs are affinity groups that 

provide employees with a supportive environment for networking and collaborating on career and personal 

development goals. The FDIC has seven CDACs –one in each region and one at Washington, DC headquarters – 

and nine agency-recognized ERGs. 

During 2022, OMWI partnered with CDACs and ERGs to host the FDIC’s Diversity and Inclusion Education 

series recognizing national observances. Each observance aligned with a national theme or current events or 

discussion topics among CDACs and ERGs. See Appendix C for the list of national observances. 

In addition to the national observances, CDACs and ERGs hosted FDIC’s first annual Juneteenth celebration. 

This event provided the historical background of Juneteenth and featured a panel of diverse professionals. 

The panel members shared their perspectives on the importance of Juneteenth and its significance within the 

Black community. 
2022 Report to Congress 31 

CDACs and ERGs served as diversity partners with FDIC divisions and offices, many of which invited CDACs 

and ERGs to participate in their all-staff meetings, town halls, lunch and learns, and regional and territory 

meetings. These relationships increased awareness of ERGs and CDACs, assisted in enhancing employee 

participation, and broadened resources available to the divisions and offices in achieving their DEIA goals. 

Here is a sample list of topics on which the CDACs and ERGs engaged employees:

y Burnout and Work-Life Balance

y Embracing Emotional Intelligence and Empathy

y Navigating Generational Differences

y Allyship

y American Sign Language Culture and Language Lessons

y Coffee and Conversations / Cafecitos

y Facilitating Meetings for all Voices to be Heard

y Disability and Intersectionality

y LGBTQ+ the FDIC Employee Panel Discussions

These events aimed to educate and share diverse perspectives about the life and experiences of members 

of diverse groups. They were designed to create a safe space to share stories and demonstrate the 

importance of maintaining an environment where everyone feels welcome and included.

The CDACs raised national DEIA issues and concerns to the D&I EAC, driving the FDIC forward through 

exploration of issues, practices, and policies that may inhibit or foster the achievement of DEIA goals. 

In 2022, all ERGs met with the FDIC’s then-Acting Chairman and participated in the D&I EAC monthly 

meetings to present concerns, raise issues, and share accomplishments. 
32 2022 Report to Congress

PRIDE, an FDICrecognized ERG, shared 

member concerns with 

FDIC executive leaders, 

including then-Acting 

Chairman Martin 

Gruenberg.

The group also launched 

an informal mentoring 

pilot program to 

increase networking, 

career management 

and experience-sharing 

among members 

and revamped its 

SharePoint site to 

improve communication 

with members and 

non-members to better 

promote its activities. 

“In June, 12 PRIDE members volunteered to be featured in FDIC social media posts commemorating LGBTQ+ 

Pride Month,” the president said. 

The group also held events with the Chairman’s Diversity Advisory Councils to raise awareness of employee 

experiences when coming out as LGBTQ+, understanding pronoun usage and the history of LGBTQ+ 

Pride Month. 

“We talked about inequities in federal government family 

planning programs and health care benefits and improved 

information-sharing around gender-affirming support 

for transgendered and transitioning employees,” said the 

president of PRIDE.

–President

“

 PRIDE ERG

“
2022 Report to Congress 33 

Through CDACs and ERGs, employees benefit from increased cultural competency, enhanced collaboration, 

and heightened awareness of issues affecting employees. In 2023, OMWI will sponsor CDAC/ERG training to 

further enhance DEIA efforts, collaboration and programming.

ERG-Division Collaboration: DRR DEIA Showcase 

In 2022, the FDIC launched an initiative to raise the visibility of the ERGs within the divisions and offices. 

Throughout the year, organizations sponsored activities for their employees to learn about ERGs. As part 

of this initiative, DRR collaborated with the ERGs to start the DRR DEIA Showcase to bring awareness of 

ethnicities, cultures, races, genders, and social backgrounds through presentations promoting inclusivity 

and respecting and celebrating the diversity of DRR. In addition to highlighting the ERGs, DRR also 

emphasized the talents and skills of its members. During the DEIA Showcase sessions, the ERGs:

y Provided an overview of their program and initiatives 

y Asked and responded to questions from the audience

y Showed videos or slides related to their programs

y Invited participants to share their experiences

Showcases were well attended with numbers ranging from 74 to 126 employees and included live 

interaction with participants.
34 2022 Report to Congress

Communication: 

DEIA Messages 

We are committed to developing compelling messages, including dialogue that 

encourages all employees to see the importance of DEIA to their personal success 

and the success of the FDIC. 

As we have implemented DEIA strategies, we have identified opportunities to communicate the rationale for 

DEIA as part of the FDIC’s mission. We recognize the need to be clear about the importance of DEIA and how 

employees contribute to achieving DEIA goals. It is important to create an opportunity for employees to 

share their stories and experiences as we foster an inclusive work environment. Although we continued 

to sponsor agency-wide events, the FDIC divisions and offices contributed significantly to enhancing 

DEIA communications. 

Social Media Campaign

In 2022, the FDIC launched a social media 

campaign highlighting the agency’s CDACs and 

ERGs on FDIC’s official social media channels. 

Aligned with the Diversity and Inclusion Education 

monthly observances, employees across the CDACs 

and ERGs provided personal testimonials on:

y The critical role CDACs and ERGs play in the 

workforce 

y How CDACs and ERGs support and advance 

DEIA 

y Why it’s important to celebrate and recognize 

special observance months

Each participating employee’s testimony and 

photo were featured across the agency’s social 

media platforms. The social posts performed well 

across FDIC’s social channels, with engagement 

on LinkedIn being especially high. The increased 

engagement was primarily due to fellow FDIC 

employees liking, sharing, and commenting to 

support their colleagues and friends. 
2022 Report to Congress 35 

Section 508 Accessibility for People with Disabilities 

The year proved to be especially productive for the FDIC Section 508 Compliance team, which works to 

implement the provisions of Section 508 of the Rehabilitation Act of 1973 that requires all information and 

communication technology (i.e., electronic documents, websites, databases, software, information kiosks, 

and multimedia) materials be accessible to people with disabilities. 

The Section 508 Compliance team developed service offerings within the Service Now platform and 

continued to enhance 508 requirements for testing and validation. The team also worked with the CIOO 

to ensure MS Teams features for employees with disabilities were on the forefront for implementation.

In addition, the team hosted a series of educational events as part of 2022 National Disability Employment 

Awareness Month to promote awareness of the need to provide equal access to information for people 

with disabilities. These events covered topics of “508 Accessibility Tools” and “508 Common Issues for 

Documents and Applications.”  The team also provided monthly document accessibility training sessions 

and additional training upon request. Participants around the country watched the Section 508 team 

present “Establishing a Section 508 Program” during a 2022 conference at California State University, 

Northridge. 

The Section 508 Compliance team played an important role in the successful release of DCP resources to 

the public. The team reviewed Money Smart program documents to ensure IT accessibility for assistive 

technology. Also, when DCP launched a foreign language initiative to ensure program materials are 

available to the broadest audience possible, the team reviewed over 8,000 pages of program documents 

published in English, Chinese, Korean, Spanish and Vietnamese to ensure they were fully 508 compliant.

Division- and Office-Based DEIA Communications 

Throughout the year, divisions and offices continued expanding communications on DEIA initiatives. These 

initiatives were part of their DEIA operational plans to encourage employees to share their lived experiences 

and perspectives for better cross-cultural understanding. 

DRR Initiatives

The second year of DRR “Let’s Connect!” launched in January 2022. DRR employees were invited to 

participate in conversations about their experiences, careers, or background. DRR employees were 

randomly grouped to participate in discussions. The conversations led to discovering commonalities, 

which helps promote inclusion. 

Diversity Dialogue Groups provide a forum for DRR employees to meet monthly and discuss how DEIA 

affects the workplace. Each group is led by a facilitator and has approximately 10 participants. The topics 

are derived from videos, podcasts, books and articles. In 2022, DRR hosted 12 sessions attended by a third 

of the division employees.
36 2022 Report to Congress

In November 2022, DRR employees participated in the first of a series of interactive workshops designed 

to explore diversity. The first workshop was a two-part series. Part I, DEIA as a Mission Enabler, helped 

employees build on their foundational understanding of DEIA. They worked in large and small groups to 

explore what DEIA means and why it matters. This series went beyond awareness-building to focus on 

personal experiences and collectively define what inclusion looks like. 

In 2022, DRR introduced the Inclusion Corner, which highlights the diverse backgrounds, cultures, and 

interests of employees on its DEIA webpage. Anyone interested in sharing a story can contact the DRR 

DEIA team. 

Allyship Dialogue Sessions

During 2022, the Chief Financial Officer Organization hosted two small-group dialogue sessions that 

focused on Allyship. Each session began with a 10-minute video titled “Three Ways to be a Better Ally in the 

Workplace” from OMWI’s Resources for Addressing Diversity, Equity, Inclusion, and Accessibility collection. 

After watching the video, participants shared reactions and perspectives. 

Facilitating Meetings for All Voices to be Heard

The Legal Division’s Alternative Dispute Resolution Counsel, in coordination with the Washington DC CDAC 

and the Association of African American Professionals (A3P), conducted an agency-wide presentation on 

“Facilitating Meetings for All Voices to be Heard.” The presentation explored factors that impact participation 

in meetings and discussed techniques to ensure that as many voices as possible contribute 

to the conversation.

RMS DEIA Communications

In October 2022, RMS announced the launch of the RMS DEIA webpage, which provides the RMS DEIA 

Strategic Plan and Implementation Strategy as well as access to other resources. The website includes 

contact information for the RMS DEIA regional contacts and the RMS DEIA mailbox for submitting 

suggestions, inquiries, or comments.

In addition to the webpage, RMS created a DEIA Resource Handout that provides FDIC DEIA-related 

resources. RMS also prepared DEIA recruiting FAQs explaining why DEIA is important, how DEIA is 

embedded in the FDIC, and how the FDIC fosters a welcoming and inclusive work environment.

In October, the RMS DEIA coordinator discussed implementation of the RMS DEIA Strategic Plan as part of 

an all-hands call. The coordinator encouraged employees to submit ideas and suggestions to strengthen 

DEIA efforts through the DEIA mailbox. Further, the DEIA coordinator conducted periodic meetings with RMS 

DEIA regional contacts, which involved collaboration and promotion of several DEIA initiatives building on a 

culture of teamwork, innovation, and diversity.
2022 Report to Congress 37 

DCP DEIA Communications

During 2022, DCP established a DEIA Team. The team includes a seven-member Steering Committee, 

five Executive Sponsors, and 11 Strategy Owners. The members of the team include a diverse range of 

employees representing various grade levels, positions, and all parts of the country. Throughout the 

year, the team has worked to implement the initiatives outlined in its inaugural DEIA Strategic Plan. 

DCP’s Information Security and Technology Systems staff developed a DEIA dashboard that supports 

the reporting and tracking of progress on strategies outlined in the Division’s DEIA Strategic Plan. This 

dashboard is now housed on DCP’s DEIA internal webpage that launched in November of 2022. The 

webpage includes links to the Division’s DEIA Strategic Plan and the agency’s DEIA Strategic Plan and 

mission statement as well as links to ERGs, DEIA-related highlights, workforce demographic information, 

and a host of other interesting and noteworthy DEIA-related information. 

Throughout 2022, DCP hosted eight DEIA-related virtual lunch and learn sessions and spotlighted DEIArelated articles in recurring employee publications. To end the year, the fourth quarter “Dialogue with the 

Director” call featured a discussion of DEIA accomplishments. 
38 2022 Report to Congress

Consistency: 

Strengthen DEIA Policies and Procedures 

We are committed to maturing the DEI model to improve the consistency 

of desired outcomes by strengthening policies and procedures, utilizing 

technology, and enhancing training. 

The FDIC focused on diversity status self-identification and enhanced DEIA training to improve the 

effectiveness of DEIA efforts.

Expanding Self-Reported Demographic Data

Employee self-identification on the bases of race, sex, veteran status, and disability is paramount to 

inclusion efforts. When employees self-identify, they help the FDIC identify patterns that can fuel inclusion 

efforts. FDIC encourages employees to voluntarily and confidentially self-identify diversity status by 

accessing their personal page through a web-based self-service system. The information is used to analyze 

DEIA factors internally and for required reporting to the Equal Employment Opportunity Commission, 

Congress, and U.S. Office of Personnel Management. 

Sexual Orientation and Gender Identity Survey 

In 2022, the FDIC was among federal agencies that began work to develop a sexual orientation and gender 

identity workforce survey. FDIC personnel made progress in developing recommendations for collecting 

sexual orientation and gender identity information that would not be personally identifiable but in the 

aggregate and over time would help identify trends in the progress of DEIA efforts and inform initiatives 

to improve employee well-being. 

In 2023, the FDIC will assess the preliminary recommendations considering recently released governmentwide reports and guidance, including the Federal Evidence Agenda on LGBTQI+ Equity issued by the 

National Science and Technology Council. 
2022 Report to Congress 39 

Enhancing DEIA Training

The FDIC regularly reviews DEIA training programs to ensure we are putting in place EEO initiatives, policies, 

and DEIA-related training to support our workforce. 

Diversity and Inclusion for Managers and Employees. This course discusses the importance of 

cultivating a workplace culture of excellence that is inclusive, supports diversity, and is free from hostility or 

harassment. Managers can influence change and lay the groundwork for fostering an inclusive workplace. 

EEO and Diversity Training for Supervisors. This course provides relevant and practical information that 

helps managers and executives identify behaviors that enable DEI in the workplace, while increasing their 

knowledge and skills in the EEO complaint process. 

Workplace Diversity, Equity, and Inclusion in Action. This course helps employees become more aware 

of the behaviors that foster a diverse and inclusive environment. 

Notification and Federal Employee Antidiscrimination and Retaliation Act (No FEAR Act). This online 

training includes EEO information on complaint trends, preventing harassment, and employees’ rights and 

responsibilities within the EEO process. 

Empathy Training. This course teaches strategies for demonstrating empathy and building trust to 

enhance the quality of relationships. The course will be conducted through computer-based instruction 

and made available in 2023.

This Week in Legal Division Training and Development. The Legal Division provides this weekly 

newsletter announcing courses and learning opportunities for attorneys and non-attorney staff. The 

newsletter features the DEIA Training Alert, which highlights internal and external DEIA-specific training 

aligned with the legal profession. The newsletter provides immediate access to courses as well as a 

description of subject matter. 
40 2022 Report to Congress

Community: 

Promote Inclusive Prosperity

We are committed to encouraging DEIA in FDIC business activities and at 

regulated financial institutions and fostering financial inclusion in the banking 

system, within our mandate

The FDIC actively promotes economic inclusion through initiatives that benefit the nation’s consumers, 

households, small businesses, and communities. Our 2022 efforts illustrated that DEIA is an agency-wide 

priority. Guided by the 2021-2023 DEI Strategic Plan, our activities related to the Community goal focused 

on the following aims.

y Economic Opportunity. Ensure access to agency contracting opportunities and the benefits of the 

banking system by diverse businesses and communities.

y DEIA Integration. Provide DEIA perspective for public awareness campaigns to meet the FDIC mission 

and program goals. 

y Effective Connection. Collaborate with internal and external stakeholders to implement successful DEIA 

outreach activities. 

Intentionally integrating a DEIA focus into our economic inclusion work produced benefits in our work with 

MWOBs and MWOLFs, financial institutions, and the unbanked and underbanked. 

Maximizing Opportunities for MWOBs and MWOLFs 

During 2022, OMWI continued to support increased participation of MWOBs by conducting market 

research and outreach to identify MWOBs eligible to compete for FDIC contracts. Also, we engaged with 

program offices and MWOBs early in the process to help include them in competitive pools for contracting 

opportunities. In 2022, OMWI identified 37 competitive MWOB firms to add to its resource list through 

such means as one-on-one meetings, matchmaking events, and exhibits at FDIC-sponsored events. 

A participating MWOB later met applicable requirements, competed and won a Mentoring Services contract. 
2022 Report to Congress 41 

Leveraging and Strengthening Networks

Throughout the year, OMWI worked with the Acquisition Services Branch (ASB) and program offices to 

identify MWOBs for source lists and collaborated with ASB throughout the evaluation, negotiation and 

award phases for multiple contracts. ASB actively tracks and reports MWOB awards and encourages MWOBs 

in every competitive acquisition. To promote MWOB representation on solicitations, procurement policy 

calls for OMWI to review acquisition plans valued at more than $100,000, and an OMWI representative 

participates on Technical Evaluation Panels that include MWOB proposals. During the year, OMWI 

participated on 32 panels and responded to 27 requests from ASB and program offices for MWOB referrals. 

Pitch Days continue to be a pillar of OMWI’s strategic engagement with MWOBs. FDIC hosted two Pitch Days 

to let MWOBs share their business capabilities related to products and services relevant to the FDIC’s needs. 

The first Pitch Day, cohosted by the Legal Division and OMWI, let MWOLFs discuss the quality legal services 

they offer. The second Pitch Day allowed MWOBs to discuss real estate title services. 

The strategy of using multiple-award vehicles to allow multiple firms to pre-qualify under a single award 

continued to produce positive results. In 2022, this strategy resulted in $152 million in new task orders for 

information technology and bank resolution work being awarded to MWOBs. Other successes included

the following:

y A Basic Ordering Agreement contract award for $9.8 million to an MWOB for financial and management 

reporting services.

y A total of $17.7 million in awards to MWOBs through the U.S. Small Business Administration (SBA) 

Section 8(a) Business Development Program for small disadvantaged businesses, for instructional 

system design services, building roof membrane replacement, cybersecurity support services, and 

occupational health services. 

Overall in 2022, the FDIC awarded 403 contracts valued at $608 million; 170 of the 403 contracts (42.2 

percent) and $281.1 million of the $608 million (46.2 percent) were awarded to MWOBs. This demonstrates 

the strong participation of MWOBs in contracting opportunities with the FDIC, and marks 2022 as one of 

the FDIC’s most successful years. Over the last five years, on average, FDIC awarded 32.2 percent of new 

contracts to MWOBs. See Appendix B for contracting historical trend data (2018 – 2022).
42 2022 Report to Congress

As demonstrated in Table 3, the agency awarded contracts to MWOBs for a wide variety of goods and 

services in 2022. 

TABLE 3: MWOB Awards by Type of Goods and Service

Types of Goods and/or Service Combined Award Value

IT Services $118,541,388

Hardware/Software & Maintenance $33,690,191

Strategy and Business Support Services $30,981,905

Bank Resolution Services $24,215,674

Facilities Management Services and Renovations $23,164,668

Occupational Health-Safety Services $20,215,730

Identity Credential Access Management Support Services $14,934,857

Furniture $5,954,710

Trade Show Exhibit Services $4,555,237

Training Services $3,441,716

Other/Various Goods & Services $943,556

OMWI Services $299,496

Moving Services $150,526

Total $281,089,654

Expanding Connections

In 2022, the FDIC built on a longstanding relationship with Operation HOPE, Inc. and entered into a 

Collaboration Arrangement that covers a broader range of activities than prior arrangements. The agency 

continued to promote financial education to strengthen communities served by Operation HOPE using the 

respected FDIC Money Smart curriculum, including Money Smart for Small Businesses. The FDIC expanded 

the scope of the collaboration to include initiatives that support Operation HOPE’s One Million Black 

Business Initiative (1MBB). The initiative focuses on opening more pathways to entrepreneurship for Black 

and African American aspiring business owners. This focus aligns closely with the FDIC’s work to promote 

economic opportunity for MWOBs in its business activities. 

The FDIC closed out the year’s Collaboration Arrangement initiatives at the 2022 HOPE Global Forum, 

“Bridging the Divide,” in December. Through virtual and in-person exhibits, the agency provided resources 

to help attendees learn practical steps that are key to doing business with the FDIC. DCP and OMWI 

personnel engaged directly with forum participants, providing information to support financial capability 

and building relationships with a network of diverse entrepreneurs. 

Another strategy the FDIC used to highlight FDIC business opportunities to MWOBs was to publish executive 

interviews in publications targeted to diverse audiences. Posting about presentations and outreach events 

on social media also expanded the reach of messaging about assistance to and opportunities for MWOBs. 

These strategies supplemented more conventional approaches to MWOB outreach. 
2022 Report to Congress 43 

A willingness to try new ways to improve opportunities is an important element of initiatives to promote 

inclusive prosperity. 

Increasing Diversity in Legal Services

The Legal Division played an important role in executing on Community goals in the second year of the 

2021-2023 DEI Strategic Plan. In 2022, the Legal Division completed a review of the referral process to 

determine if opportunities exist to enhance the MWOLF selection process within applicable guidelines. 

Moving from assessment to action, the Legal Division drafted a plan to strengthen outreach and technical 

assistance in 2023. 

In 2022, the Legal Division strengthened initiatives to promote DEIA in referrals for outside counsel services 

to MWOLFs, diverse attorneys based at majority firms, and diverse legal support services providers 

who assist in e-discovery, court reporting, trial preparation, and expert witnesses, among other areas. 

Specifically, the Legal Division:

y Provided technical assistance to other financial regulatory agencies that were developing outside legal 

contracting outreach programs, including conducting a virtual supplier diversity workshop for the FHFA. 

y Began publishing an internal monthly newsletter to highlight MWOLFs that have worked with FDIC 

attorneys that engage outside counsel. 

y Implemented a multi-pronged outreach strategy through affinity group publications and participation 

in four minority bar association virtual conferences, one in-person event and two stakeholder events. 

Presented a webinar sponsored by the National Association of Minority and Women-Owned Law Firms 

(NAMWOLF) and served in a leadership position on the NAMWOLF Advisory Council for legal supplier 

diversity. 

y Presented to an audience of Fortune 500 legal departments about the value of supplier diversity, 

encouraging corporate legal departments to participate in supplier diversity networking events. 

y Collaborated with OMWI on a Pitch Day that provided a dozen MWOLFs and diverse attorneys a platform 

to present their legal expertise to FDIC attorneys. 

y Recruited and interviewed 23 MWOLF firms and four diverse legal support services providers in a 

collaboration between the Dallas Regional Office and Headquarters to meet anticipated needs for 

outside legal services.

y Identified and addressed geographic and expertise gaps in MWOLF representation on the List of Counsel 

Available and increased the percentage of MWOLFs on the List of Counsel Available from 41 percent to 

43 percent. 
44 2022 Report to Congress

In 2022, the FDIC paid $317,000 in legal fees to MWOLFs and $3.2 million to diverse attorneys. Taken together, 

the FDIC paid $3.52 million to MWOLFs and diverse attorneys out of a total of $15.6 million spent on outside 

counsel services, for a total diversity participation rate in outside legal contracting of 22.6 percent . Although 

the Legal Division does not pay diverse attorneys directly, they are credited with the amount they bill on behalf 

of their firms. The FDIC made eight referrals to MWOLFs, which accounted for 26.7 percent of 30 legal referrals. 

In 2023, the Legal Division will increase opportunities for networking between outside counsel and in-house 

attorneys responsible for engaging outside counsel through outreach events. Also, the Legal Division will 

conduct outreach to local and state affinity bar associations to match MWOLFs to the FDIC’s anticipated need 

for outside legal services.

Financial Institution Diversity

The FDIC’s supervised financial institutions play a key role in communities nationwide. These institutions 

provide jobs, deposit account services, and access to credit for consumers and small businesses. The agency’s 

Financial Institution Diversity (FID) Program supports FDIC-supervised financial institutions as they act to help 

make the banking system more safe, fair, and inclusive. Through the FID Program, the FDIC helps institutions to 

further understand the business case for DEIA and use associated strategies to bolster the effectiveness of their 

workforce, board and management, and contracting activities. 

The Community goal in the 2021-2023 DEI Strategic Plan calls for the FDIC to encourage DEIA at our supervised 

financial institutions and foster financial inclusion in the banking system. Consistent with that goal, in 2022 

OMWI worked to increase financial institutions’ awareness of the FID Program, addressed misconceptions 

about submitting diversity self-assessments to the FDIC, and provided valuable technical assistance. 

Building Relationships and Gaining Traction 

Each year, we encourage financial institutions to conduct and submit a voluntary self-assessment about their 

diversity programs and practices during the preceding calendar year. The FDIC, together with other federal 

financial regulators, developed joint standards for diversity self-assessments that financial institutions can use 

in a manner that reflects their size and unique characteristics. The diversity self-assessments FDIC-supervised 

financial institutions submit help us to understand financial institutions’ challenges and accomplishments, 

identify noteworthy trends, and provide technical assistance tailored to financial institutions’ needs. In 2022, 

we engaged with bank trade associations throughout the nation to articulate the benefits of submitting a 

diversity self-assessment and clear up any information gaps that might make financial institutions reluctant to 

share DEIA information. 

To supplement traditional outreach at conferences and other events, OMWI used podcasts to reach a broad 

audience of financial institution stakeholders. The Deputy to the Chairman for External Affairs and OMWI 

Director promoted the FID Program and diversity self-assessments in the North Carolina Bankers Association 

In the Vault Podcast and the Bank Administrators Institute Banking Strategies Podcast. In turn, these podcasts 

and other outreach spurred requests for presentations at trade association conferences and forums. 
2022 Report to Congress 45 

During 2022, FDIC senior leadership and OMWI increased the visibility of the FID Program and shared 

insights on effective financial institution diversity programs in numerous venues, including the following: 

y Western Bankers Association 2022 Women in Banking Forum 

y Texas Bankers Association 91st Annual Human Resources and Operations Conference

y Jackson, Mississippi Boulé of Sigma Pi Phi Forum on Diversity in Leadership in Banking 

and Financial Services

y North Carolina Bankers Association 2022 Young Bankers Conference

Increasing Credibility and Capacity 

The agency designated a Deputy Director, National Financial Institution Diversity Strategy to lead program 

enhancements. OMWI convened a FID Workgroup to leverage the perspectives and expertise of leaders 

from various FDIC divisions and offices. The workgroup met monthly to identify tools and resources useful 

for financial institutions’ DEIA programs and strategies for communicating effectively with representatives 

of FDIC-supervised institutions. These steps help to advance the FID Program and support measurable, 

positive outcomes for DEIA in the U.S. banking system. 

Sustaining Momentum

There was an upward trend in the number of FDIC-supervised financial institutions that voluntarily 

submitted a diversity self-assessment in 2022. For the 2021 reporting period (calendar year), the FDIC 

received diversity self-assessments from 172 financial institutions, a 16 percent increase from 148 for the 

2020 reporting period. Still, this is a small portion of the 3,135 FDIC-supervised financial institutions as of 

December 30, 2021. As in past reporting periods, most of the 2021 responding financial institutions, 92 

percent, had over 100 employees, and 70 percent had at least $1 billion in total assets. 

Diversity Self-Assessment Results – Historical Trend

For each reporting period from 2017-2021, more than 80 percent of responding financial institutions 

affirmed that their leadership demonstrates commitment to diversity and inclusion and the institution 

promotes fair inclusion of minorities and female employees in their workforce. More than half affirmed 

being transparent about their diversity and inclusion activities and performance in their self-assessment 

of their diversity policies and practices. The percentage of respondents that responded affirmatively about 

supplier diversity programs increased by 35 percent in 2022 but remained below 30 percent. 
46 2022 Report to Congress

Table 4: Summary Diversity Self-Assessment Results 2017 – 2021 

Assessment of the Financial Institutions’ (FIs’) Diversity Policies and Practices

Assessment Areas

2017 2018 2019 2020 2021 2020-2021

137 

FIs

133 

FIs

152 

FIs

148 

FIs

172 

FIs

Percent 

Change

Organizational Commitment to 

Diversity and Inclusion 87% 88% 84% 89% 88% -1%

Workforce Profile and 

Employment Practices 83% 85% 81% 85% 84% -1%

Procurement and Business 

Practices – Supplier Diversity 19% 18% 21% 19% 26% 35%

Practice to Promote Transparency 

of Organizational Diversity and 

Inclusion

53% 54% 55% 53% 54% 1%

Financial Institutions’ 

Self-Assessment 68% 68% 65% 67% 65% -3%

To further assist our financial institutions, the FDIC plans to develop new resources and tools that banks, 

especially community banks, can use to build or strengthen their DEIA programs. In 2023, the FDIC will 

increase outreach to better understand financial institutions’ challenges and strategically support their 

efforts to increase the diversity of their workforces, board and management, and suppliers. 

Financial Inclusion

In the 2021-2023 DEI Strategic Plan, the agency affirmed its commitment to foster greater financial inclusion 

in the development and implementation of FDIC policies, including those that promote diversity and 

inclusion to support historically underserved and marginalized populations. While the country has made 

progress on economic inclusion, minority and low- and moderate-income (LMI) communities continue to 

face roadblocks in accessing banking and financial services. 

In 2022, the FDIC increased partnerships, initiatives, and outreach promoting economic inclusion for 

underserved minority and LMI communities in these areas:

y Safe and affordable account access

y Access to sustainable credit

y Affordable housing

y Resources for small businesses

y Financial literacy/education 

y Consumer protection 
2022 Report to Congress 47 

The agency conducts community work primarily through a network of local, state, and federal partnerships, 

community and grassroots organizations, and financial institutions. As part of the FDIC’s community 

outreach, the agency sponsors an Alliance for Economic Inclusion (AEI) in 11 metropolitan statistical 

areas. AEIs are coalitions of local financial institutions and community and local government leaders. AEI 

members promote the availability and use of safe, affordable, and sustainable financial products from 

insured depository institutions that help people achieve financial stability. 

Bringing Unbanked Consumers into the Financial Mainstream

According to the 2021 FDIC National Survey of Unbanked and Underbanked Households, approximately 

5.9 million Americans remain unbanked, meaning that no one in the household had a checking or 

savings account at a bank or credit union. The survey noted that the COVID-19 pandemic prompted some 

individuals and families to open bank accounts, enabling them to receive economic impact payments and 

other benefits in a secure and timely manner. Nevertheless, the study reported that 11.3 percent of Black 

and 9.3 percent of Hispanic households remained unbanked, compared to 2.1 percent of white households. 

Differences in unbanked rates between Black and White households and between Hispanic and White 

households in 2021 were present at every income level.

To reduce the number of unbanked Americans, the FDIC launched the #GetBanked initiative to promote 

access to secure, affordable, insured bank accounts. The multi-year effort started in 2020 to motivate 

unbanked consumers to begin a banking relationship and open an account. Its goals are to: (1) increase 

consumer awareness of secure and affordable bank accounts, (2) help consumers find information about 

affordable accounts that banks may offer, and (3) engage with local community partners who work directly 

with LMI communities and populations, so that they know about resources and can refer their clients 

to them.

Through its #GetBanked webpage, at FDIC.gov/GetBanked, the FDIC provides consumers with information 

on finding a bank, opening an account online, and accessing other resources about establishing a banking 

relationship. The webpage is available in English and Spanish. The agency also encourages more banks to 

offer low-cost sustainable accounts to consumers. From the time the FDIC posted resource pages on bank 

account access in 2020 through December 2022, the pages received more than 1.8 million visits. 

In February 2022, the FDIC launched the second phase of its #GetBanked public awareness campaign pilot 

in the Dallas, Detroit, and Los Angeles metropolitan areas. The campaign reached people primarily through 

digital advertising on digital display banners, mobile video, podcasts and YouTube. During the three-month 

campaign (February 2-May 8, 2022), the #GetBanked webpage received more than 128,000 visits. The pilot 

cities drove the most visits to the webpage. 
48 2022 Report to Congress

In addition, the FDIC conducted 34 virtual outreach events around the country, fostering community 

partnerships that support the financial well-being of the unbanked. These outreach events introduced 

financial institutions and community-based organizations to resources from the FDIC and other federal 

agencies that encourage bank account access. Twenty-one of the 34 virtual outreach events focused on 

Volunteer Income Tax Assistance (VITA) or other tax season topics. 

To start the tax season, multiple federal agencies hosted a national webinar on “Tax Time Opportunities to 

#GetBanked” in January 2022. The webinar targeted an audience of financial institutions and community 

organizations.

y The agencies informed participants about Internal Revenue Service (IRS) programs for free tax 

preparation services for LMI households, provided resources for encouraging consumers to open a bank 

account and save a portion of their tax refund, and promoted tax-time partnerships between financial 

institutions and community groups. 

y Guest speakers from the IRS, the Consumer Financial Protection Bureau (CFPB), and community 

organizations shared information and resources to increase the number of VITA sites, volunteers, 

account access opportunities, and economic inclusion throughout the country. 

y A non-profit VITA organization in Minnesota and a local bank partner discussed their work with LMI 

households since 2011 to open more than 650 bank accounts, which let customers to receive tax refunds 

directly into their accounts and save over $700,000. 

This and other tax-focused events helped spur fruitful cooperation among stakeholders. As a result of these 

events, several VITA organizations collaborated with banks, the FDIC AEIs, and other local coalitions to help 

consumers open bank accounts during tax-filing season. 

For example, the April 2022 “Building Sustainable Personal Financial Foundations in South Carolina” 

webinar targeted an audience of banks, non-profit organizations, and government agencies. The webinar 

equipped attendees to help Black consumers in their networks obtain affordable bank accounts and other 

financial products and services using various economic inclusion resources and promoted collaboration 

between bankers and non-profit organizations to help consumers obtain affordable bank accounts. As a 

result of the webinar, a local non-profit organization in the Charleston, South Carolina, area collaborated to 

provide affordable bank account information to VITA clients. 

Further, the FDIC orchestrated a volunteer opportunity with members of the Los Angeles Alliance for 

Economic Inclusion and a nonprofit VITA organization. As a result of this collaboration, 187 clients opened 

bank accounts to receive tax refunds. In addition, the partnership secured 319 “L.A. Saves” pledges that 

provided 412 volunteer hours to help VITA clients file their taxes. 

Similarly, the FDIC engaged with many other local and state coalitions to help promote the importance of 

affordable accounts and connect consumers to banks. For example, the FDIC hosted the “Bank On Salt Lake 

City Launch” webinar in January 2022 for banks, credit unions, non-profit organizations, and government 

agencies. The event marked the completion of work to create a new Bank On coalition of local influential 

stakeholders, including financial institutions, community-based organizations, and government agencies. 
2022 Report to Congress 49 

These stakeholders collaborated to connect unbanked populations with safe and affordable financial 

services, including bank account, credit, housing, and entrepreneurship resources. The new local coalition 

has partnered with nine new financial entities providing affordable and sustainable bank accounts that 

meet the Bank On National Account Standards and facilitated 25+ community partnerships that resulted in 

expanded housing options, workforce development, and financial independence for LMI households.

Promoting Access to Sustainable Credit

The FDIC promotes access to sustainable credit by encouraging partnerships between banks and 

community organizations that provide resources for LMI consumers to build and sustain a strong credit 

history and access small-dollar consumer credit. In 2022, the FDIC conducted 15 events highlighting 

solutions to address the lack of affordable credit for LMI households. These events included:

y A national event aimed at achieving credit empowerment featured strategic partners, including the 

CFPB and national nonprofits to help raise awareness of credit monitoring and credit-building tools. 

y A local event to expand access to small-dollar loans for LMI consumers in Fresno, California featuring 

small-dollar loan solutions for banks by financial institution data service providers and products used by 

Hispanic- and Asian-nonprofit lenders in collaboration with banks. 

y An event held in conjunction with three Minority Depository Institutions (MDIs) to inform HBCU students 

across Mississippi about the criteria for developing and maintaining credit stability. 

Affordable Mortgage Lending

In June 2022, FDIC Community Affairs hosted over 14 events throughout the country to address barriers 

for homeowners and potential homeowners. These events bore fruit as housing counseling agencies and 

banks formed collaborations to engage homeowners and lower barriers to homeownership in LMI and 

minority communities. 

For example, the FDIC Chicago Region hosted a foreclosure prevention webinar to increase awareness 

of and access to the Homeowner Assistance Fund (HAF), down payment assistance, and resources from 

housing counseling agencies. Speakers from the CFPB, FHFA, NeighborWorks, Michigan State Housing 

Development Authority, and local housing counseling organizations explained how to use the HAF for 

mortgage payments, homeowner’s insurance, utility payments and other purposes. FDIC examination 

staff explained how banks may receive positive consideration under the Community Reinvestment Act by 

offering or supporting foreclosure prevention programs. Motivated by this event, nonprofits and banks in 

Michigan sought partnerships to develop foreclosure prevention programs serving Michigan homeowners. 
2022 Report to Congress

Supporting Small Business Lending

Small businesses need capital to grow. Many minority- and women-owned firms entered the COVID-19 

pandemic facing obstacles, like challenged credit histories, low cash liquidity, and limited access to credit 

opportunities. In addition, many of these businesses lacked a formal banking relationship with a financial 

institution, which keeps them out of the financial mainstream. 

The FDIC encourages financial institutions and their partners to serve emerging entrepreneurs and 

existing small businesses. In 2022, the FDIC worked with community stakeholders to extend lending and 

educational resources to minority-owned small businesses.

The agency partnered with the SBA and the U.S. Department of Agriculture to launch the Path to Prosperity 

webinar series to encourage small businesses to connect with the financial mainstream. The focus of this 

initiative are banks, intermediaries, unbanked small business owners, and the organizations that support 

them. The initiative’s goals are to promote business bank account access, improve the bankability of small 

business firms, and increase the number of SBA-certified lenders to expand credit for small businesses. The 

inaugural event reached over 1,000 attendees. 

An important project in Los Angeles acted on recommendations based on research by the University of 

California at Los Angeles (UCLA) Asian American Studies Center. UCLA’s center reported on the impacts of 

the pandemic on Asian American and Pacific Islander (AAPI) business recovery and recommended ways to 

provide greater access to capital and technical assistance with in-language support. The Los Angeles AEI 

developed a small business lender workshop that presented bankers with technical assistance resources 

and small business lending programs that can assist AAPI entrepreneurs in their native languages. The 

workshop featured sessions that provided useful and readily available information and resources:

y A community development financial institution (CDFI) presented on procurement and technical 

assistance programs and lending products, including its Minority Business Development Agency (MBDA) 

programs. 

y A collaborative that focuses on AAPI small businesses discussed the technical assistance offered in 

languages through six agencies serving Japanese, Chinese, Korean, Cambodian, Thai, and Filipino 

entrepreneurs. 

y A panel of bankers presented case studies on how working with the CDFI and small-business 

collaborative created access to capital and growth for their clients during the pandemic. 

As a result, 16 percent of the banks that attended provided community development investments to 

technical assistance providers. An FDIC Community Affairs Specialist noted that the AAPI event highlighted 

the need for CDFIs to hire staff to reach out to the AAPI small business community. 

50
51 

The FDIC also hosted a webinar to strengthen connections between CDFIs and financial institutions 

to support minority-owned and Historically Underutilized Businesses (HUBs). Representatives 

shared innovative approaches and resources to help advance access to affordable capital and 

credit. The event presented resources to support partnerships between banks, CDFIs, and a Small 

Business Technology Council serving HUBs. A CDFI in North Carolina and Shaw University (an 

HBCU) initiated the development of a minority small business hub on Shaw’s campus.

“I was surprised to find that in the Los Angeles market 

only one CDFI had dedicated resources to pursue the AAPI 

segment. I have been encouraged to learn that since this 

convening, one additional CDFI has hired staff to pursue the 

AAPI business community.”

–FDIC Community 

“

 Affairs Specialist “

“

“For over 35 years, the National Institute of Minority 

Economic Development and Institute Capital have been 

“ advocating and building the asset base of diverse 

populations throughout the southeast. We’re convinced 

that people aren’t looking for a handout, but a hand 

up. Our CDFI, along with our bank partners, provide 

impactful resources to communities in need. Thank you, 

the FDIC, for connecting us to great partners.”

–National Institute of Minority 

 Economic Development
52 2022 Report to Congress

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 training resources for consumers of all ages and small business 

owners. In 2022, the FDIC continued to promote its newest Money Smart resource “How Money Smart Are 

You?”—a self-paced, interactive suite of 14 virtual games and related resources about financial topics. The 

National Institute of Minority Economic Development summarized the services CDFIs provide.

The FDIC held seven national train-the-trainer and Money Smart Alliance events online reaching over 800 

trainers or potential trainers with an in-depth overview of the Money Smart curricula and resources available. 

In addition, the FDIC held over 25 one-on-one meetings promoting Money Smart to a range of organizations, 

including libraries, educators, HUD-certified financial counselors, BIPOC-serving community-based 

organizations, and veterans. For example, the FDIC collaborated with a national nonprofit organization to 

use the FDIC’s Money Smart curriculum to help inform minority- and women-owned businesses about topics 

important to managing a business. 

The FDIC also launched an effort to increase awareness of Money Smart among Spanish speakers, including 

three national events:

y During National Financial Capability month, a webinar called “¡Juntos Adelante! Financial Empowerment 

for Hispanics Featuring the New FDIC Tool in Spanish: How Money Smart Are You?” 

y During National Hispanic Heritage Month, two webinars named “Programs and Tools Offered by the FDIC 

to Support the Financial Empowerment of the Spanish-Speaking Population,” conducted in Spanish 

and English. 

These webinars included an overview of the FDIC mission, deposit insurance, consumer resources, Money 

Smart programs in Spanish, and economic inclusion tools available through #GetBanked. After these national 

webinars, several organizations expressed interest in the Money Smart curricula, #GetBanked, and the Money 

Smart Alliance.

In addition, for National Hispanic Heritage Month, the FDIC launched a redesigned FDIC.gov/espanol

website, a hub of information, resources, and tools. Several topics were enhanced in Spanish, such as Deposit 

Accounts, Credit and Loans, and Fraud and Scams. 

Expanding Financial Inclusion for Black, Indigenous, and People of Color

During 2021, the agency hosted over 50 economic inclusion and community development events targeted to 

issues facing BIPOC communities. During 2022, the FDIC increased the number of such events by 40 percent, 

expanding outreach, enhancing measures of effectiveness, and strategically using resources. In total, 91 

national BIPOC-focused events were held. 
2022 Report to Congress 53 

Activities included community development forums with the Whole Community Health Initiative at the 

University of North Carolina, Chapel Hill, to strengthen connections among tribal communities, CDFIs and 

financial institutions to advance access to affordable capital and credit for Native Americans and tribal 

organizations. Other events were held to expand access to homeowner assistance funds and foreclosure 

prevention tools. 

As part of its HBCU engagement, the FDIC participated in a financial wellness series hosted by an oncampus fraternity and sorority, providing financial education to over 100 HBCU students and graduates. 

Also, during the 2022 National HBCU Week Conference, the FDIC presented strategies to start and grow 

businesses in a session tailored to an audience of more than 200 HBCU Scholars. 

The FDIC continued to increase support to Hispanic-serving institutions by expanding Spanish resources 

and identifying strategies to improve financial inclusion for Hispanics. For instance, the FDIC hosted an 

Economic Inclusion Roundtable in Puerto Rico with 58 multi-sector participants to discuss local challenges 

and opportunities. As a result, an organization expanded assistance for local micro-enterprises and a local 

bank collaborated with a foundation to enhance outreach in rural Puerto Rico. 

National Center for Consumer and Depositor Assistance

During 2022, the FDIC’s National Center for Consumer and Depositor Assistance (NCDA) promoted DEIA 

initiatives in the following ways:

y The NCDA continued to educate the public in both English and Spanish on consumer protection 

matters, deposit insurance, fraud prevention, and resources for those facing foreclosure or housing 

insecurity issues. 

y The NCDA’s Consumer Response Unit worked with OMWI and DOA to formalize a reasonable 

accommodation process for members of the public who cannot file a banking-related complaint or 

inquiry in writing due to disability or physical impairment. 

Minority Depository Institution Activities

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 have played 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 play a key role in building a more inclusive financial system. 

Since 2020, significant new sources of private and public funding have become available to support the 

FDIC-insured MDIs and CDFIs, collectively known as “mission-driven banks.” This includes up to $9 billion 

in funding from the U.S. Department of the Treasury (Treasury) through the Emergency Capital Investment 

Program, as well as $3 billion in new grant funding for CDFIs, including up to $1.2 billion set aside for 

minority lending institutions. 
54 2022 Report to Congress

During 2022, the FDIC pursued several strategies to support MDIs. These included 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) is composed 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. Representatives from four MDIs also 

serve on the 18-member CBAC to further bring MDI perspectives and issues to the table. 

In 2022, the MDI Subcommittee held two meetings—one virtual and one in-person. The MDI Spotlight featured 

MDI executives sharing best practices for strategic planning and succession management and experiences with 

forging successful large bank partnerships. In addition, FDIC staff presented a new interactive mapping tool 

to help bankers identify potential business opportunities for serving minority communities. Bankers provided 

input that will be used to update the tool for release in 2023. 

During 2022, the FDIC also engaged in deeper relationships with mission-driven bank trade groups to facilitate 

effective implementation of new resources becoming available to mission-driven banks.  

At the end of 2021, the FDIC created a new permanent organization, the Office of Minority and Community 

Development Banking (OMCDB), to support the agency’s ongoing strategic and direct engagement with MDIs 

and CDFIs. In early 2022, OMCDB hired new staff and developed a strategic plan. OMCDB advises the Chairman 

and other senior leaders on the FDIC activities that support mission-driven banks. It also engages with these 

institutions to understand their challenges and needs and develop strategies to support them. The FDIC 

hosted, along with the Office of the Comptroller of the Currency and the Board of Governors of the Federal 

Reserve System hosted four listening sessions with the FDIC-insured MDIs and CDFIs to identify challenges and 

opportunities and receive feedback on agency efforts to support mission-driven banks. 

Partnerships   

 The FDIC worked with staff in other Federal agencies that have programs that may be of interest to MDIs. For 

example, in 2022, the FDIC, OCC, and FRB jointly hosted a series of four listening sessions with FDIC-insured 

MDIs and CDFIs to identify challenges and opportunities and receive feedback on agency efforts to support 

mission-driven banks. The FDIC also worked with Treasury to share information with MDIs about opportunities 

to form partnerships through the Treasury Mentor-Protégé Program, which pairs MDIs with large banks that 

contract with Treasury. The FDIC also worked with Treasury’s State Small Business Credit Initiative (SSBCI) 

program to inform MDIs and CDFIs of business opportunities through credit enhancements supported with 

Treasury funding. This provided a combined $10 billion to states, the District of Columbia, territories, and Tribal 

governments to empower small businesses to access capital needed to invest in job-creating opportunities as 

the country emerges from the pandemic.  
2022 Report to Congress 55 

Another partnership the FDIC initiated in 2022 is with the Department of Transportation’s (DOT) Office of 

Small and Disadvantaged Business Utilization. DOT received significant infrastructure funding from the 

Infrastructure Investment and Jobs Act enacted in November 2021 and relies on contracts with small 

businesses, including disadvantaged businesses, to implement the legislation. DOT determined that many 

small businesses need access to bridge financing either prior to or upon contract award and MDIs and CDFIs 

may be a possible source of funding. 

In December 2022, Microsoft and Truist Financial Corporation, the anchor investors in the Mission-Driven 

Bank Fund, announced the hiring of a Fund manager to underwrite investments and manage the fund. 

The Fund was established in 2021 to provide funding and other support for FDIC insured MDIs and CDFIs.

Policies  

 In May 2022, the FDIC issued Financial Institution Letter 24-2022, Minority Depository Institution 

Designations, which outlines the process by which the FDIC-supervised institutions or applicants for 

deposit insurance can make a request to be designated as an MDI. The instructions provide transparency 

to the public on the procedures to follow and criteria for designating an institution as an MDI. In 2022, one 

new FDIC-supervised de novo MDI opened for business, three other existing institutions were designated as 

MDIs, and the FDIC granted conditional approval of an application for deposit insurance for a de novo MDI 

that is now raising capital. 

In December 2022, the FDIC launched training for examiners of MDIs regarding the application of 

examination standards to the unique business models of MDIs. The training provides information and case 

studies on many of the new funding sources coming into MDIs and CDFIs as well as information regarding 

tools to help understand the communities served by MDIs. 

Advocacy 

 It is important to promote the visibility of MDIs, tell their stories, and showcase the important role they play 

in their communities. In 2022, the FDIC recorded four videos 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 the FDIC social 

media channels and its website. 

Outreach, Technical Assistance, and Education  

During the year, the FDIC continued 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 the FDIC regional management and each MDI’s Board of 

Directors to discuss issues of interest. The FDIC conducts an annual survey to obtain feedback from MDIs 

and to help assess the effectiveness of the MDI program.   
56 2022 Report to Congress

At the conclusion of each examination of an MDI supervised by the FDIC, the 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 at 

any time. 

In 2022, the FDIC provided 148 individual technical assistance sessions on approximately 49 risk 

management, consumer compliance, and resolution topics, including:  

y Accounting,

y Applications for branch openings and closures,

y Anti-Money Laundering/Countering the Financing of Terrorism,

y Community Reinvestment Act,

y Compliance management,

y Capital Planning and Management, 

y Current Expected Credit Losses (CECL) accounting methodology,

y Fair Lending,

y Funding and liquidity,

y Information technology risk management and cybersecurity,

y Internal audit, and 

y Loan modifications and Troubled Debt Restructuring.

In response to concerns raised by MDIs, the FDIC held a webinar to discuss supervisory expectations for 

MDIs and CDFI banks awarded funds from the U.S. Treasury Emergency Capital Investment Program. The 

webinar addressed bank management’s questions regarding the FDIC’s examination approach for FDICsupervised MDIs and CDFIs deploying the funds. FDIC staff discussed several risk management practices 

institutions must consider when anticipating significant asset growth, expanding into new markets, and 

developing new product offerings. Staff also addressed questions regarding strategic and capital planning 

associated with the award. 

The FDIC also held outreach, training, and educational programs for MDIs through conference calls 

and regional banker roundtables. In 2022, topics of discussion for these sessions included many of 

those listed 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. Further, during the regional roundtables, representatives from Treasury and the Department of 

Transportation presented information on the Mentor-Protégé Program, SSBCI, and small business initiatives 

discussed above. 
2022 Report to Congress 57 

Conclusion

In 2022, we made important strides in implementing the 2021-2023 DEI Strategic Plan and initiatives related 

to our workforce, MWOB contract opportunities, and financial institution self-assessments. In 2023, we will 

continue to implement the plan and strategies related to our workforce for expanding Hispanic recruitment, 

increasing MWOB participation, and encouraging DEIA among our supervised financial institutions. Also, 

we will work to develop a new FDIC DEIA Strategic Plan for 2024-2026. We look forward to progress and 

success as we promote a culture that embeds DEIA in FDIC operations and workforce; optimizes employees’ 

experiences throughout their career; prioritizes communication that highlights the importance of DEIA to 

personal and agency success; remains consistent in working towards desired DEIA outcomes; and fosters 

financial inclusion in the communities across the nation.
58 2022 Report to Congress

APPENDIX A: Workforce Demographic and Trend Data 

FDIC Total, Permanent, and Executive Manager 

Workforce 2018–2022

Total Workforce (Permanent and Non-Permanent)

2018 2019 2020 2021 2022 Change

Minority 1760 

(29.8%)

1768 

(30.4%)

1886 

(31.3%)

1896 

(32.2%)

1921

(33.0%) + 0.8

Non-Minority 4151 

(70.2%)

4053 

(69.6%)

4148 

(68.7%)

3996 

(67.8%)

3906

(67.0%) - 0.8

Male 3263 

(55.2%)

3208 

(55.1%)

3348 

(55.5%)

3302 

(56.0%)

3287

(56.4%) + 0.4

Female 2648 

(44.8%)

2613 

(44.9%)

2539 

(44.5%)

2590 

(44.0%)

2540 

(43.6%) - 0.4

Individuals 

w/Disabilities

677

(11.5%)

708

(12.2%)

786

(13.0%)

791

(13.4%)

808

(13.9%) +0.5

Veterans 515

(8.7%)

508

(8.7%)

555

(9.2%)

530

(9.0%)

535

(9.2%) +0.2

Permanent Workforce

2018 2019 2020 2021 2022 Change

Minority 1658 

(29.9%)

1671 

(30.4%)

1788 

(31.6%)

1795 

(32.6%)

1826

(33.5%) + 0.9

Non-Minority 3892 

(70.1%)

3831 

(69.6%)

3869 

(68.4%)

3719 

(67.4%)

3627

(66.5%) - 0.9

Male 3071 

(55.3%)

3037 

(55.2%)

3148 

(55.6%)

3091

(56.0%)

3061

(56.1%) + 0.1

Female 2479 

(44.7%)

2465 

(44.8%)

2509 

(44.4%)

2423

(44.0%)

2392

(43.9%) - 0.1

Individuals 

w/Disabilities

635

(11.5%)

676

(12.3%)

748

(13.2%)

753

(13.7%)

763

(14.0%) +0.3

Veterans 489

(8.8%)

491

(8.9%)

541

(9.6%)

521

(9.4%)

518

(9.5%) +0.1

*Highlighted data show less than expected representation.

**Due to fluctuations in workforce and occupation population sizes as a result of hiring and attrition, representational 

percentages can remain the same across time even if counts vary.
2022 Report to Congress 59 

FDIC Total, Permanent, and Executive Manager 

Workforce 2018–2022-Cont’d

Total Workforce - Executive Manager (Permanent and Non-Permanent)

2018 2019 2020 2021 2022 Change

Minority 24 

(17.6%)

23 

(16.7%)

25 

(19.7%)

28 

(22.6%)

32

(25.0%) +2.4

Non-Minority 112 

(82.4%)

115 

(83.3%)

102 

(80.3%)

96 

(77.4%)

96

(75.0%) -2.4

Male 87 

(64.0%)

84 

(62.3%)

80 

(63.0%)

78 

(62.9%)

83

(65.0%) +2.1

Female 49 

(36.0%)

51 

(37.7%)

47 

(37.0%)

46 

(37.1%)

45

(35.0%) -2.1

Individuals w/

Disabilities

42

(13.7%)

37

(12.3%)

39

(12.3%)

33

(13.7%)

25

(12.2%) -1.5

Veterans 9

(6.1%)

10

(6.6%)

10

(6.8%)

10

(6.3%)

11

(6.9%) +0.3

Total Workforce – Managers (Permanent and Non-Permanent)

2018 2019 2020 2021 2022 Change

Minority 140

(21.5%)

140 

(22.0%)

146 

(22.6%)

163 

(24.6%)

167 

(24.8%) +0.2%

Non-Minority 510 

(78.5%) 

491 

(78.0%)

500 

(77.4%)

500 

(75.4%)

507 

(75.2%) -0.2%

Male 397 

(61.1%)

387 

(61.0%)

397 

(61.5%)

412 

(62.1%)

403 

(59.8%) -2.3%

Female 253 

(38.9%)

244 

(39.0%)

249 

(38.5%)

251 

(37.9%)

271 

(40.2%) +2.3%

Individuals w/

Disabilities

56

(8.6%)

65

(10.3%)

72

(11.1%)

78

(11.8%)

85

(12.6%) +0.8%

Veterans 37

(5.7%)

35

(5.5%)

34

(5.3%)

45

(6.8%)

44

(6.5%) -0.3%
60 2022 Report to Congress

FDIC Total, Permanent, and Executive Manager 

Workforce 2018–2022-Cont’d

2022 Entry-Level Examiner Hires by Race/National Origin and Gender

Two or More 

Races AI/AN Asian

Black/

African 

American

Hispanic/ White

TOTAL

Female (F) 

Male (M) F M F M F M F M F M F M

Entry-Level 

Examiner Hires 0 1 0 0 7 11 18 10 3 10 39 90 189

% 0.0% 0.5% 0.0% 0.0% 3.7% 5.8% 9.5% 5.3% 1.6% 5.3% 20.6% 47.6% 100%

Civilian Labor 

Force (CLF) 3 1.1% 1.1% 0.3% 0.3% 2.2% 2.2% 6.6% 5.7% 6.2% 6.8% 31.8% 35.7% 100%

*AI/AN refers to American Indian/Alaska Native.

Female Entry-Level Examiner Hires 2018-2022

2018 2019 2020 2021 2022 Change

Entry Level

Examiner

Hires

%

56 64 74 60 67

(42.4%) (40.8%) (38.1%) (40.8%) (35.4%) -5.4%

Minority Entry-Level Examiner Hires 2018-2022

2018 2019 2020 2021 2022 Change

Entry Level

Examiner

Hires

%

33 47 65 35 60

(25.0%) (29.9%) (33.5%) (23.8%) (31.7%) +7.9%

3 ACS 2014-2018 tables are used for the 2022 CLF. Prior to 2022, 2010 CLF data from Census is used.
2022 Report to Congress 61 

FDIC Total, Permanent, and Executive Manager 

Workforce 2018–2022-Cont’d

Examiner

 Category % Minority

Examiner (0570)

(Total Workforce)

558 (21%) 596 (21%) 583 (22%) 564 (22%)

2019 2020 2021 2022

Category % Female

Examiner (0570)

(Total Workforce)

1064 (39%) 1100 (40%) 1075 (40%) 1037 (40%)

2019 2020 2021 2022

Economist

Category % Minority

Economist (0110)

(total workforce)

23 (29%) 27 (34%) 27 (33%) 23 (31%)

2019 2020 2021 2022

 Category % Female

Economist (total 

workforce)

23 (29%) 26 (33%) 27 (33%) 25 (33%)

2019 2020 2021 2022
62 2022 Report to Congress

FDIC Total, Permanent, and Executive Manager 

Workforce 2018–2022-Cont’d

General Business And Industry

Category % Minority

General Business & 

Industry (1101) 

(total workforce)

69 (26%) 80 (29%) 88 (31%) 105 (33%)

2019 2020 2021 2022

 Category % Female

General Business & 

Industry 

(total workforce)

91 (34%) 97 (35%) 99 (35%) 120 (38%)

2019 2020 2021 2022

Attorney

Category % Minority

Attorney (0905)

(Total Workforce)

54 (17%) 60 (19%) 63 (20%) 71 (22%)

2019 2020 2021 2022

Category % Female

Attorney (0905)

(Total Workforce) 

130 (42%) 134 (42%) 135 (42%) 39 (43%)

2019 2020 2021 2022
63 

2022 Report to Congress 63 

FDIC Mission Critical Occupations, Total Workforce, 2022*

Total Total Males Total Females Hispanic or Latino Males Hispanic or Latino Females White Males White Females Black or African American Males Black or African American Females Asian Males Asian Females NH/PI Males NH/PI Females AI/AN Males AI/AN Females Two (+) Males Two (+) Females

CLF 2018 % 100% 51.79 48.21 6.82 6.16 35.65 31.82 5.7 6.61 2.19 2.18 0.08 0.08 0.31 0.31 1.05 1.05

Workforce

# 5827 3287 2540 163 111 2439 1467 665 338 258 231 5 3 20 13 69 53

% 100% 56.37% 43.63% 2.78% 1.91% 41.82% 25.21% 5.81% 11.41% 4.35% 3.92% 0.09% 0.05% 0.34% 0.22% 1.19% 0.91%

General 

Business 1011

# 315 195 120 15 4 137 73 23 28 15 12 0 0 0 0 5 3

% 100% 61.90% 38.10% 4.76% 1.27% 43.49% 23.17% 7.30% 8.89% 4.76% 3.81% 0.00 0.00 0.00 0.00 1.59% 0.95%

Occupational 

CLF(1101) % 45.70 54.30 4.40 5.50 32.50 36.40 4.00 7.20 3.50 3.50 0.10 0.10 0.20 0.30 0.90 1.30

Attorney 905

# 320 183 137 7 4 151 98 14 18 7 14 0 0 1 1 3 2

% 100% 57.19% 42.81% 2.19% 1.25% 47.19% 30.63% 4.38% 5.63% 2.19% 4.38% 0.00 0.00 0.31% 0.31% 0.94% 0.63%

Occupational 

CLF(0905) % 62.90 37.10 3.10 2.50 54.70 28.50 2.20 3.00 1.90 2.10 0.00 0.00 0.10 0.10 0.90 0.80

Economist 

(0110) 

# 75 50 25 2 1 41 11 1 3 5 9 0 0 0 0 1 1

% 100% 66.67% 33.33% 2.67% 1.33% 54.67% 14.67% 1.33% 4.00% 6.67% 12.00% 0.00 0.00 0.00 0.00 1.33% 1.33%

Occupational 

CLF(0110) % 68.00 32.00 5.30 2.00 52.30 24.10 3.90 1.70 5.10 3.00 0.10 0.00 0.10 0.30 1.20 0.90

Financial 

Administration 

and Program 

(0501)

# 133 68 65 3 1 46 25 13 31 5 7 0 0 0 0 1 1

% 100% 51.13% 48.87% 2.26% 0.75% 34.59% 18.80% 9.77% 23.31% 3.76% 5.26% 0.00 0.00 0.00 0.00 0.75% 0.75%

Occupational 

CLF(0501) % 54.20 45.80 3.90 4.60 44.10 32.80 3.00 4.90 2.30 2.30 0.00 0.10 0.10 0.20 0.80 0.90

Financial 

Institution 

Examining 

(0570)

# 2619 1582 1037 74 41 1303 752 106 164 65 59 3 2 11 3 20 16

% 100% 60.40% 39.60% 2.83% 1.57% 49.75% 28.71% 4.05% 6.26% 2.48% 2.25% 0.11% 0.08% 0.42% 0.11% 0.76% 0.61%

Occupational 

CLF(0570) % 54.20 45.80 3.90 4.60 44.10 32.80 3.00 4.90 2.30 2.30 0.00 0.10 0.10 0.20 0.80 0.90

Information 

Technology 

Management 

(2210)

# 413 291 122 12 5 180 43 32 38 59 29 2 1 0 3 6 3

% 100% 70.46% 29.54% 2.91% 1.21% 43.58% 10.41% 7.75% 9.20% 14.29% 7.02% 0.48% 0.24% 0.00 0.73% 1.45% 0.73%

Occupational 

CLF(2210) % 70.90 29.10 4.50 1.60 54.30 21.60 3.60 2.50 7.00 2.60 0.10 0.00 0.10 0.10 1.30 0.70

*Highlighted data show underrepresentation. *AI/AN refers to American Indian or Alaska Native and NH/PI refers to Native Hawaiian or Other Pacific Islander.**As of January 1, 2022, EEOC uses 2014-2018 ACS total federal civilian labor force (CLF) data demographic estimates as the primary benchmarks.Percentages may not equal 100% due to rounding
64 2022 Report to Congress

APPENDIX B: Contracting and Trend Data 

FDIC Contracting Awards to MWOBs, 2018–2022 (in millions)

2018 2019 2020 2021 2022

Total Awards $499.5 $554.0 $426.7 $845.5 $608.0

100.0% 100.0% 100.0% 100.0% 100.0%

Minority-Owned 

or Women-Owned 

Businesses Totals

$122.5 $173.5 $90.0 $416.4 $281.1

24.5% 31.3% 21.1% 49.2% 46.2%

Minority-Owned $45.8 $106.0 $58.9 342.8 $104.3

9.2% 19.1% 13.8% 40.5 % 17.1%

Women-Owned $83.0 $75.8 $50.1 $105.7 $197.6

16.6% 13.7% 11.7% 12.5 % 32.5%

Both Minority-Owned 

and Women-Owned

$6.3 $8.3 $19.0 $32.1 $20.8

1.3% 1.5% 4.4% 3.8 % 3.4%

Asian American $33.9 $83.1 $25.6 $288.5 $72.0

6.8% 15.0% 6.0% 34.1 % 11.8%

Black/African American $1.9 $5.8 $3.3 $43.8 $7.8

0.4% 1.0% 0.8% 5.2 % 1.3%

Hispanic/Latino $7.0 $13.3 $28.8 $7.0 $9.4

1.4% 2.4% 6.8% 0.8 % 1.5%

Native American $2.9 $3.5 $0.6 $2.4 $13.8

0.6% 0.6% 0.1% 0.3 % 2.3%

Other Minority $0.1 $0.3 $0.5 $1.1 $1.3

0.0% 0.1% 0.1% 0.1% 0.2%
2022 Report to Congress 65 

FDIC Payments to MWOBs, 2018–2022 (in millions)

2018 2019 2020 2021 2022

Total Contract Payment $429.6 $466.6 $479.7 $479.9 $487.4

100.0% 100.0% 100.0% 100.0% 100.0%

Minority-Owned or Women

-Owned Business Totals

$98.0 $98.3 $106.5 $130.0 $177.4

22.8% 21.1% 22.2% 27.1 % 36.4%

Minority-Owned $49.5 $54.0 $62.1 $87.4 $121.1

11.5% 11.6% 12.9% 18.2 % 24.8%

Women-Owned 

$59.5 $52.0 $53.9 $54.2 $76.5

13.9% 11.2% 11.2% 11.3 % 15.7%

Both Minority-Owned and 

Women-Owned

$11.1 $7.7 $9.5 $11,6 $20.2

2.6% 1.7% 1.9% 2.4% 4.2%

Asian American $28.8 $31.5 $37.7 $59.2 $83.1

6.7% 6.8% 7.9% 12.3 % 17.1%

Black/African American $9.5 $6.2 $6.9 $9.5 $18.9

2.2% 1.3% 1.4% 2.0 % 3.9%

Hispanic/Latino

$ 8.4 $12.0 $15.0 $16.7 $18.1

2.0% 2.6% 3.1% 3.5 % 3.7%

Native American

$2.2 $3.9 $1.8 $1.9 $0.7

.05% 0.8% 0.4% 0.4 % 0.1%

Other $0.6 $0.4 $0.7 $0.1 $0.3

0.1% 0.1% 0.1% 0.0% 0.1%
66 2022 Report to Congress

FDIC Contracting Actions to MWOBs, 2018–2022

2018 2019 2020 2021 2022

Total Actions

565 518 409 404 403

100% 100.0% 100.0% 100.0% 100.0%

Minority-Owned or 

Women-Owned 

Business Totals

166 152 117 135 170

29.4% 29.3% 28.6% 33.4 % 42.2%

Minority-Owned 

87 68 53 55 59

15.4% 13.1% 13.0% 13.6% 14.6%

Women-Owned 

119 112 89 95 145

21.1% 21.6% 21.8% 23.5 % 36.0%

Both Minority-Owned 

and Women-Owned

40 28 25 15 34

7.1% 5.4% 6.2% 3.7 % 8.4%

Asian American

54 33 26 27 30

9.6% 6.4% 6.4% 6.7 % 7.4%

Black/African 

American

11 15 14 11 16

1.9% 2.9% 3.5% 2.7 % 4.0%

Hispanic/Latino

11 9 7 10 9

1.9% 1.7% 1.7% 2.5 % 2.2%

Native American

6 5 3 4 2

1.1% 1.0% 0.7% 1.0 % 0.5%

Other Minority

5 6 3 3 2

0.9% 1.1% 0.7% 0.7 % 0.5%
2022 Report to Congress 67 

FDIC Contract Awards by Top 10 NAICS Codes, 2022

NAICS NAICS Description Dollar Amount 

of Awards

Dollar Amount 

of MWOB Awards

541519 Other Computer Related Services $236,057,042.68 $160,682,521.57 

561210 Facilities Support Services $102,990,839.61 $7,213,575.61 

511210 Software Publishers $ 48,818,100.43 $22,440,308.88 

541611 Administrative Management and General 

Management Consulting Services $39,051,427.45 $7,500,000.00 

493190 Other Warehousing and Storage $17,900,000.00 $0.00

541512 Computer Systems Design Services $14,837,903.43 $6,711,904.10 

621999 All Other Miscellaneous Ambulatory 

Health Care Services $13,615,688.00 $13,615,688.00 

519130 Internet Publishing and Broadcasting 

and Web Search Portals $10,696,090.27 $0.00

522110 Commercial Banking $ 10,676,500.00 $10,676,500.00 

517311 Wired Telecommunications Carriers $ 10,377,497.00 $0.00

Total of top 10 $505,021,088.87 $228,840,498.16 

MWOB $228,840,498.16 45.3%

Non-MWOB $276,180,590.71 54.7%

Total $505,021,088.87 100.0%
68 2022 Report to Congress

APPENDIX C: Recruiting Events and National 

Observances

Legal Outreach

The Legal Division, in partnership with the CRP, established the Legal Division Recruitment Program. In 

2022, Legal Division recruiters participated in the following outreach events: 

y Public Service Career Fair at Texas Law

y New York University Law Public Interest Legal Career Fair

y DC/Baltimore Public Service Recruitment Fair

y George Washington University/Georgetown Law Public Sector Recruiting Program

y The Georgia Law School Consortium Public Sector Career Fair

y The Northwest Public Service Career Fair

y The Midwest Public Interest Law Career Conference

y National Black Law Student Association Information Session

y Washington and Lee Law Summer Job Search Program

y Emory University School of Law Meet the Firm Event

y Historically Black Colleges and Universities Information Sessions

y Rutgers Law School Areas of Practice Fair 
2022 Report to Congress 69 

Professional Affinity Groups 

In 2022, the CRP co-hosted eight speaking engagements with support from the FDIC’s National Outreach 

Executive Task Force Subcommittee. The subcommittee rallies FDIC leaders at corporate grade 13 through 

corporate manager 02 levels to participate in the following 2022 events: 

y Ascend Pan-Asian Leaders Student Ascend Café: “Effective Job Search Strategies in a Virtual 

Environment” (July 2022)

y Conference on Asian Pacific American Leadership (CAPAL) Roundtable Series: “Career Pathways” 

(September 2022)

y Association of Latino Professionals for America (ALPFA) Boston Regional Symposium: “Top 5 Structured 

Interview Mistakes” (September 2022)

y Hispanic Association of Colleges & Universities (HACU) 36th Annual Conference: “The Importance of 

Networking” (October 2022)

y National Association of Black Accountants (NABA) Post-Convention Student webinar: “Tactical & 

Strategic Thinking: Moving with Intention” (October 2022)

y Accounting and Financial Women’s Alliance Women Who Count Conference: “Lessons Learned from 

Managing People in Public Service” (October 2022)

y 15th Annual HBCU Career Development Marketplace: “Money Management and Wealth Creation for 

College and Beyond” (November 2022)

y Prospanica Annual Conference & Exposition Professional Development Session: “Leadership 

networking: Cultivating authentic connections to accelerate your career” (November 2022)
70 2022 Report to Congress

National Observances

During 2022, OMWI partnered with the CDACs and ERGs to host the FDIC’s Diversity and Inclusion Education 

series recognizing national observances. The Diversity and Inclusion Education observances and their 

themes: 

Birthday of Dr. Martin Luther King, Jr. 

y It Starts With Me: Shifting Priorities to Create the Beloved Community 

African American History Month 

y Part I: Effective Leadership through Extraordinary and Challenging Times While Advocating for 

Innovative Change

y Part II: Leading at the FDIC—Celebrating African American Leaders

y Part III: Making an Impact During Extraordinary Challenging Times

Women’s History Month

y Providing Healing, Promoting Hope

Jewish American Heritage Month

y Celebrating Jewish American Heritage Month: Cultural Influence in America 

Asian American and Pacific Islander Heritage Month

y Advancing Leaders Through Collaboration

Lesbian, Gay, Bisexual, Transgender and Queer Plus (LGBTQ+) Pride Month

y The Power of Allyship

Hispanic Heritage Month

y Unidos: Inclusivity for a Stronger Nation

Disability Employment Awareness Month

y Disability: Part of the Equity Equation

Veterans Day

y Honor 

Native American Heritage Month

y Celebrating Respect, Culture and Education
2022 Report to Congress 71 

APPENDIX D: Acronyms and Terms

Acquisition Services Branch (ASB)

Advisory Committee on Community Banking (CBAC)

Alliances for Economic Inclusion (AEIs)

Alternative Dispute Resolution (ADR)

American Community Survey (ACS)

American Economic Association (AEA) 

American Economic Association Summer Training Program (AEASP)

Asian American and Pacific Islander (AAPI)

Association of African American Professionals (A3P)

Black, Indigenous, and People of Color (BIPOC)

Center for Financial Research (CFR)

Chairman’s Diversity Advisory Councils (CDACs)

Chief Financial Officer Organization (CFOO)

Civilian Labor Force (CLF)

Community Development Financial Institutions (CDFIs)

Corporate Recruitment Program (CRP)

Department of Transportation’s (DOT)

Diversity and Inclusion Executive Advisory Council (D&I EAC)

Diversity, Equity, and Inclusion (DEI)

Diversity, Equity, Inclusion, and Accessibility (DEIA)

Division of Administration (DOA)

Division of Depositor and Consumer Protection (DCP)

Division of Insurance and Research (DIR)

Division of Resolution and Receiverships (DRR)

Division of Risk Management Supervision (RMS)

Equal Employment Opportunity (EEO)

Employee Resource Groups (ERGs)

Federal Employee Viewpoint Survey (FEVS)

Federal Reserve Board (FRB)

First Generation Professionals (FirstGen)

Financial Management Scholar (FMS)

Hispanic Association of Colleges & Universities (HACU)

Historically Black Colleges and Universities (HBCUs)

Hispanic Organization for Leadership and Advancement (HOLA)

Leadership Excellence Acceleration Program (LEAP)

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)
72 2022 Report to Congress

National Center for Consumer and Depositor Assistance (NCDA)

Office of the Comptroller of the Currency (OCC)

Office of Minority and Community Development Banking (OMCDB)

State Small Business Credit Initiative (SSBCI) 

Summer Economics Fellows Program (SEFP)

Summer Scholars Student Internship (SSSIP)

Volunteer Income Tax Assistance (VITA)

University of California at Los Angeles (UCLA)

White House Initiative on Advancing Educational Equity, Excellence and Economic Opportunity through 

Historically Black Colleges and Universities (WHI-HBCUs)
PAGE LEFT BLANK INTENTIONALLY
2022 Report to Congress

SECTION 342 

DODD-FRANK WALL STREET REFORM AND CONSUMER 

PROTECTION ACT - 2022 REPORT TO CONGRESS

Federal Deposit Insurance Corporation

Office of Minority and Women Inclusion

SECTION 342

DODD-FRANK WALL STREET REFORM 

AND CONSUMER PROTECTION ACT

2022 REPORT TO CONGRESS

Federal Deposit Insurance Corpporation

Office of Minority and Women Inclusion

Virginia Square, L. William Seidman Center

3501 North Fairfax Drive

Arlington, VA 22226