This section of the FEDERAL REGISTER

contains notices to the public of the proposed

issuance of rules and regulations. The

purpose of these notices is to give interested

persons an opportunity to participate in the

rule making prior to the adoption of the final

rules.

Proposed Rules Federal Register

1289 

Vol. 75, No. 6 

Monday, January 11, 2010 

1See Division A, titled the ‘‘Federal Housing 

Finance Regulatory Reform Act of 2008,’’ Title I, 

section 1101 of HERA. 

2Sections 1302, 1303, 1312, and 1313 of HERA, 

122 Stat. 2795, 2796, and 2798. 

FEDERAL HOUSING FINANCE BOARD 

12 CFR PART 906 

FEDERAL HOUSING FINANCE 

AGENCY 

12 CFR PART 1207 

RIN 2590–AA28 

Minority and Women Inclusion 

AGENCIES: Federal Housing Finance 

Board; Federal Housing Finance 

Agency. 

ACTION: Notice of proposed rulemaking. 

SUMMARY: The Federal Housing Finance 

Agency (FHFA or agency) is issuing 

notice and opportunity for the public to 

comment on this proposed regulation on 

minority and women inclusion. Section 

1116 of the Housing and Economic 

Recovery Act of 2008 amended section 

1319A of the Federal Housing 

Enterprises Financial Safety and 

Soundness Act of 1992, requiring FHFA, 

the Federal National Mortgage 

Association, the Federal Home Loan 

Mortgage Corporation, and the Federal 

Home Loan Banks to promote diversity 

and the inclusion of women and 

minorities in all activities. The 

proposed rule will implement this 

provision. 

DATES: Written comments on the 

proposed regulation must be received 

on or before March 12, 2010. 

ADDRESSES: Submit comments to FHFA 

by any of the following methods: 

• E-mail: RegComments@fhfa.gov. 

Please include in the subject line of 

your submission: ‘‘Federal Housing 

Finance Agency—Proposed Rule: RIN 

2590–AA28’’. 

• Mail/Hand Delivery: Alfred M. 

Pollard, General Counsel, Federal 

Housing Finance Agency, Fourth Floor, 

1700 G Street, NW., Washington, DC 

20552, Attention: Public Comments/RIN 

2590–AA28. The package should be 

logged at the Guard Desk, First Floor, on 

business days between 9 a.m. and 5 p.m. 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

To ensure timely receipt by the agency 

include the following information in the 

subject line of your submission: 

‘‘Federal Housing Finance Agency— 

Proposed Rule: RIN 2590–AA28’’. If you 

submit your comment to the Federal 

eRulemaking Portal, please also send it 

by e-mail to FHFA at 

RegComments@fhfa.gov to ensure 

timely receipt by the agency. 

FOR FURTHER INFORMATION CONTACT: Eric 

Howard, Equal Employment 

Opportunity and Diversity Director, 

Eric.Howard@fhfa.gov, (202) 408–2502, 

1625 Eye Street, NW., Washington, DC 

20006; or Mark Laponsky, Deputy 

General Counsel, 

Mark.Laponsky@fhfa.gov, (202) 414– 

3832 (not toll-free numbers), Federal 

Housing Finance Agency, Fourth Floor, 

1700 G Street, NW., Washington, DC 

20552. The telephone number for the 

Telecommunications Device for the Deaf 

is (800) 877–8339. For additional 

information, see SUPPLEMENTARY

INFORMATION. 

SUPPLEMENTARY INFORMATION: 

I. Comments 

FHFA invites comments on all aspects 

of the proposed regulation and will take 

all comments into consideration before 

issuing the final regulation. We will 

post all public comments we receive 

without change, including any personal 

information you provide, such as your 

name and address, on the FHFA Web 

site at http://www.fhfa.gov. In addition, 

copies of all comments received will be 

available for examination by the public 

on business days between the hours of 

10 a.m. and 3 p.m., at the Federal 

Housing Finance Agency, Fourth Floor, 

1700 G Street, NW., Washington, DC 

20552. To make an appointment to 

inspect comments, please call the Office 

of General Counsel at (202) 414–6924. 

II. Background 

Effective July 30, 2008, the Housing 

and Economic Recovery Act of 2008 

(HERA), Public Law 110–289, 122 Stat. 

2654, amended the Federal Housing 

Enterprises Financial Safety and 

Soundness Act of 1992 (12 U.S.C. 4501 

et seq.) (Safety and Soundness Act) to 

establish FHFA as an independent 

agency of the Federal Government.1

HERA transferred the supervisory and 

oversight responsibilities of the Office of 

Federal Housing Enterprise Oversight 

(OFHEO) over the Federal National 

Mortgage Association (Fannie Mae) and 

the Federal Home Loan Mortgage 

Corporation (Freddie Mac) (collectively, 

Enterprises), and of the Federal Housing 

Finance Board (FHFB) over the Federal 

Home Loan Banks (FHLBanks or Banks) 

(collectively, regulated entities) and the 

FHLBank System’s Office of Finance to 

FHFA. In addition, this law combined 

the staffs of OFHEO, FHFB, and the 

Government-Sponsored Enterprise 

mission office of the Department of 

Housing and Urban Development 

(HUD). 

The Safety and Soundness Act 

provides that FHFA is headed by a 

Director with general supervisory and 

regulatory authority over the regulated 

entities. FHFA is charged, among other 

things, with overseeing the prudential 

operations of the regulated entities and 

to ensure that they: Operate in a safe 

and sound manner including 

maintenance of adequate capital and 

internal controls; foster liquid, efficient, 

competitive, and resilient national 

housing finance markets; comply with 

the Safety and Soundness Act and rules, 

regulations, guidelines and orders 

issued under the Safety and Soundness 

Act, and the respective authorizing 

statutes of the regulated entities; and 

carry out their missions through 

activities authorized and consistent 

with the Safety and Soundness Act and 

their authorizing statutes; and, that the 

activities and operations of the 

regulated entities are consistent with the 

public interest. The Enterprises and the 

FHLBanks continue to operate under 

regulations promulgated by OFHEO, 

FHFB, and as relevant, HUD, until 

FHFA issues its own regulations.2

A. The FHLBank System 

The FHLBank System (System) was 

created by the Federal Home Loan Bank 

Act of 1932 (FHLBank Act) as a 

government-sponsored enterprise (GSE) 

to support mortgage lending and related 

community investment. It is composed 

of 12 FHLBanks, more than 8,000 


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3 12 U.S.C. 1430(10). 

4See 12 CFR 966.9. 

5See Fannie Mae Charter Act, 12 U.S.C. 1716 et 

seq.; Freddie Mac Corporation Act, 12 U.S.C. 1451 

et seq. 6 Id. 7See 12 U.S.C. 4520(a). 

member financial institutions, and the 

System’s fiscal agent, the Office of 

Finance. The FHLBanks fulfill their 

statutory mission primarily through 

providing to its members long- and 

short-term loans (called advances). The 

FHLBank Act provides the FHLBanks 

explicit authority to make secured 

advances.3 Advances provide members 

with a source of funding for mortgages 

and asset-liability management; 

liquidity for a member’s short-term 

needs; and additional funds for housing 

finance and community development. 

Advances are collateralized primarily by 

residential mortgage loans, and 

government and agency securities. 

Community financial institutions (i.e., 

members with assets less than $1 

billion) may pledge small business, 

small farm, and small agri-business 

loans as collateral for advances. 

Additionally, some of the FHLBanks 

have Acquired Member Asset (AMA) 

programs whereby they acquire fixedrate, single-family mortgage loans from 

participating member institutions. 

Given their status as GSEs, the 

FHLBanks are able to borrow funds in 

the capital markets on terms more 

favorable than could be obtained by 

most other entities. Consolidated 

obligations, consisting of bonds and 

discount notes, are the principal source 

for the FHLBanks to fund advances, 

AMA programs, and investments. The 

Office of Finance, as the System’s fiscal 

agent, issues all consolidated 

obligations on behalf of the 12 

FHLBanks. Although each FHLBank is 

primarily liable for the portion of 

consolidated obligations corresponding 

to the proceeds received by that 

FHLBank, each FHLBank is also jointly 

and severally liable with the other 11 

FHLBanks for the payment of principal 

of, and interest on, all consolidated 

obligations.4

B. The Enterprises 

Fannie Mae and Freddie Mac are 

GSEs chartered by Congress for the 

purpose of establishing secondary 

market facilities for residential 

mortgages.5 Specifically, Congress 

established the Enterprises to provide 

stability in the secondary market for 

residential mortgages, respond 

appropriately to the private capital 

market, provide ongoing assistance to 

the secondary market for residential 

mortgages, and promote access to 

mortgage credit throughout the nation.6

The Enterprises fulfill their statutory 

mission by purchasing residential 

mortgages from lenders and either 

holding these mortgages in their 

portfolios or packaging the loans into 

mortgage-backed securities (MBS) that 

are sold to the public. By packaging 

mortgages into MBS and guaranteeing 

the timely payment of principal and 

interest on the underlying mortgages, 

Fannie Mae and Freddie Mac attract to 

the secondary mortgage market 

investors who might not otherwise 

invest in mortgages, thereby expanding 

the pool of funds available for housing. 

The Enterprises finance purchases of 

their mortgage-related securities and 

mortgage loans, and manage their 

market risks, primarily by issuing debt 

instruments and entering into derivative 

contracts in the capital markets. Fannie 

Mae and Freddie Mac are shareholderowned companies and their common 

stock is listed on the New York Stock 

Exchange. Each Enterprise is a separate 

corporate entity with its own 

management and board of directors 

elected annually by the common 

stockholders. 

III. Summary of the Proposed 

Regulation 

Section 1116 of HERA amended 

section 1319A of the Safety and 

Soundness Act (12 U.S.C. 4520) to 

require FHFA to engage in certain 

activities to promote a diverse 

workforce. It also requires each 

Regulated Entity to establish an Office 

of Minority and Women Inclusion, or 

designate an office, responsible for 

carrying out the requirements of the 

section and such requirements and 

standards established by the Director. 

Section 1319A of the Safety and 

Soundness Act requires the regulated 

entities to promote diversity in all 

activities and at every level of the 

organization, including management, 

employment and contracting. 

Furthermore, 12 U.S.C. 1833e, as 

amended, and Executive Order 11478 

require FHFA and the regulated entities 

to promote equal opportunity in 

employment and contracting. FHFA will 

prescribe regulations establishing a 

minority outreach program to promote 

diversity in FHFA contracting. The 

proposed rule supersedes 12 CFR part 

906, subpart C, the FHFB regulation on 

minority and women outreach; 

therefore, 12 CFR part 906, subpart C 

will be withdrawn, removed, and 

deleted upon the effective date of a final 

rule. 

The proposed rule would implement 

the requirements of 12 U.S.C. 1833e, 

4520, and Executive Order 11478 in a 

single regulation. Section 1313(f) of the 

Safety and Soundness Act, as amended 

by section 1201 of HERA, requires the 

Director, when promulgating regulations 

relating to the Banks, to consider the 

differences between the Banks and the 

Enterprises with respect to the Banks’ 

cooperative ownership structure; 

mission of providing liquidity to 

members; affordable housing and 

community development mission; 

capital structure; and joint and several 

liability. The Director may also consider 

any other differences that are deemed 

appropriate. In preparing the proposed 

rule, the Director considered the 

differences between the Banks and the 

Enterprises as they relate to the above 

factors. The Director requests comments 

from the public about whether 

differences related to these factors 

should result in a revision of the 

proposed rule as it relates to the Banks. 

Additionally, although the Office of 

Finance is not directly covered by 

section 1116 of HERA, it is subject to 

the Director’s ‘‘general regulatory 

authority’’ under section 1311(b)(2) of 

the Safety and Soundness Act (12 U.S.C. 

4511(b)(2)), as amended by HERA. The 

Director has determined that the 

national policy and purposes of section 

1116 of HERA are sufficiently important 

to treat the Office of Finance in the same 

manner as the regulated entities for the 

purposes of this proposed rule. 

Subpart A of the proposed rule 

contains items of general applicability 

to FHFA, the regulated entities, and the 

Office of Finance. It defines terms used 

in this part, addresses FHFA’s general 

policy and purpose of issuance, and 

explains how this part applies to 

FHFA’s, the regulated entities’, and the 

Office of Finance’s equal opportunity 

programs. The requirements of section 

1116 of HERA are limited to minorities 

and women. The proposed rule expands 

those requirements to cover disabled 

populations. HERA authorizes FHFA’s 

Director to establish ‘‘standards and 

requirements’’ relating to diversity in the 

‘‘management, employment and 

business activities’’ of the regulated 

entities.7 The Director considers 

ensuring that disabled populations are 

included in the management, 

employment, and business activities of 

the regulated entities and the Office of 

Finance an important aspect of diversity 

to which the requirements of this 

proposed rule should apply. 

Subpart B of the proposed rule 

confirms FHFA’s commitment to equal 


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opportunity and describes activities to 

promote workforce diversity and equal 

employment opportunity within FHFA. 

Proposed subpart B also identifies and 

describes FHFA’s contractor outreach 

activities and programs to ensure equal 

opportunity in contracting by FHFA, as 

required by 12 U.S.C. 1833e. 

Subpart C of the proposed rule 

contains requirements for the regulated 

entities and the Office of Finance. It 

instructs each regulated entity and the 

Office of Finance to establish an Office 

of Minority and Women Inclusion, or 

designate an office, responsible for 

carrying out the requirements of the 

section and such requirements and 

standards established by the Director. 

The subpart requires each regulated 

entity and the Office of Finance to 

establish an equal opportunity program 

applying to all areas of the business, 

including management, employment 

and contracting, at every level of the 

organization. It requires each regulated 

entity and the Office of Finance to 

establish an outreach program to ensure 

the inclusion of minorities, women, and 

individuals with disabilities, and 

businesses owned by them in contracts 

entered into by the Regulated Entities or 

the Office of Finance. Further, proposed 

subpart C sets forth reporting 

requirements, including minimum 

contents of reports to FHFA by the 

regulated entities and the Office of 

Finance. The proposed rule observes 

that FHFA’s activity under this subpart 

C and related guidance, standards, 

directives or orders is regulatory and 

supervisory in nature and may lead to 

regulatory or supervisory actions, 

including enforcement actions. 

FHFA has considered that any data or 

information reporting requirements 

present operational and administrative 

burdens. FHFA does not consider the 

burden of reporting under the proposed 

rule to be unreasonable. Congress 

recognized the importance of promoting 

diversity in the management, 

employment and business activities of 

the Regulated Entities. Consequently, 

FHFA believes that ensuring 

compliance with the proposed diversity 

requirements is a one of its supervisory 

and regulatory duties. For several 

decades companies in most industries, 

including much of the financial services 

industry, have been subject to reporting 

requirements and enforcement with 

respect to diversity. Agencies requiring 

such reports and enforcing standards 

include the U.S. Equal Employment 

Opportunity Commission and the Office 

of Federal Contract Compliance 

Programs in the U.S. Department of 

Labor. The proposed subpart C does not 

seek to duplicate reporting burdens 

imposed by either agency. Instead, 

FHFA has selected specific types of 

information that are particularly useful 

in analyzing the demographic 

composition of workforces at every 

level. It also identifies for reporting 

similar types of data that allow FHFA to 

analyze diversity among the contractors 

used by regulated entities and the Office 

of Finance. 

IV. Section-by-Section Analysis 

Section 1207.1 Definitions 

Proposed § 1207.1 defines terms used 

in this part. 

Section 1207.2 Policy, Purpose, and 

Scope 

Proposed § 1207.2 expresses FHFA’s 

policy that it, the Regulated Entities, 

and the Office of Finance shall promote 

non-discrimination, diversity and the 

inclusion of women, minorities, and the 

disabled in all their activities. It 

explains the purpose to establish 

minimum standards for FHFA, the 

regulated entities, and the Office of 

Finance in carrying out the policy of 

non-discrimination, diversity and 

inclusion. Proposed § 1207.2 also makes 

clear that the regulation applies to 

FHFA as well as to the regulated entities 

and the Office of Finance. 

Section 1207.3 Limitations 

Proposed § 1207.3 provides that 

except as necessary for enforcement by 

FHFA, the rule does not create any 

enforceable right or benefit. 

Sections 1207.4 Through 1207.9 

[Reserved] 

Section 1207.10 FHFA Workforce 

Diversity; Equal Employment 

Opportunity Program 

Proposed § 1207.10 describes FHFA’s 

program for promoting diversity and 

equal employment opportunity in its 

workforce and how FHFA will comply 

with the specific requirements of 

section 1116 of HERA and Executive 

Order 11478. 

Section 1207.11 Equal Opportunity 

and Outreach in FHFA Contracting 

Proposed § 1207.11 implements 12 

U.S.C. 1833e by establishing FHFA’s 

program for ensuring equal opportunity, 

diversity and inclusion in the use of 

contractors, and describing the agency’s 

contractor outreach program, recordkeeping and complaint resolution 

process. 

Sections 1207.12–1207.19 [Reserved] 

Section 1207.20 Office of Minority and 

Women Inclusion 

Proposed § 1207.20 implements the 

requirement that each regulated entity 

and the Office of Finance create an 

Office of Minority and Women 

Inclusion or designate an office to fulfill 

the requirements of this part, section 

1116 of HERA, and 12 U.S.C. 1833e(b), 

and provide the office with adequate 

resources to perform its responsibilities. 

Section 1207.21 Equal Opportunity in 

Employment and Contracting 

Proposed § 1207.21 establishes 

minimum requirements for each 

regulated entity’s and the Office of 

Finance’s equal opportunity, diversity 

and inclusion programs for equal 

opportunity in regulated entity and 

Office of Finance employment, 

management, contracting, and all other 

business activities. 

Section 1207.22 Regulated Entity and 

Office of Finance Reports 

Proposed § 1207.22 establishes a 

minimum requirement of an annual 

report submitted by each regulated 

entity and the Office of Finance and 

provides notice that the Director may 

require additional reports. 

Section 1207.23 Annual Reports— 

Format and Contents 

Proposed § 1207.23 establishes the 

format and minimum content required 

in each regulated entity’s and the Office 

Finance’s annual report on Minority and 

Women Inclusion. 

Section 1207.24 Enforcement 

Proposed § 1207.24 explains that 

FHFA considers non-compliance with 

this regulation or with standards issued 

under this regulation by the regulated 

entities or the Office of Finance to be 

the basis for enforcement actions under 

12 U.S.C. 4513b and 4515, and that the 

Director may initiate examinations of a 

regulated entity’s or the Office of 

Finance’s compliance under 12 U.S.C. 

4517. 

V. Regulatory Impacts 

Paperwork Reduction Act 

The proposed regulation does not 

contain any information collection 

requirement that requires the approval 

of the Office of Management and Budget 

under the Paperwork Reduction Act (44 

U.S.C. 3501 et seq.). 

Regulatory Flexibility Act 

The Regulatory Flexibility Act (5 

U.S.C. 601 et seq.) requires that a 

regulation that has a significant 


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economic impact on a substantial 

number of small entities, small 

businesses, or small organizations shall 

include an initial regulatory flexibility 

analysis describing the regulation’s 

impact on small entities. Such an 

analysis need not be undertaken if the 

agency has certified that the regulation 

will not have a significant economic 

impact on a substantial number of small 

entities. 5 U.S.C. 605(b). FHFA has 

considered the impact of the proposed 

regulation under the Regulatory 

Flexibility Act. FHFA certifies that the 

proposed regulation, if adopted, is not 

likely to have a significant economic 

impact on a substantial number of small 

business entities because the regulation 

is applicable only to FHFA, the 

regulated entities, and the Office of 

Finance, which are not small entities for 

purposes of the Regulatory Flexibility 

Act. 

List of Subjects 

12 CFR Part 906 

Government contracts, Minority 

businesses. 

12 CFR Part 1207 

Disability, Discrimination, Equal 

employment opportunity, Government 

contracts, Minority businesses, Office of 

Finance, Outreach, Regulated entities. 

Authority and Issuance 

Accordingly, for the reasons stated in 

the preamble, under the authority of 12 

U.S.C. 4526, the Federal Housing 

Finance Agency proposes to amend 

chapters IX and XII of Title 12, Code of 

Federal Regulations, as follows: 

CHAPTER IX—FEDERAL HOUSING 

FINANCE BOARD 

PART 906—OPERATIONS 

Subpart C—[Removed and Reserved] 

1. Remove and reserve subpart C, 

consisting of §§ 906.10 through 906.13. 

CHAPTER XII—FEDERAL HOUSING 

FINANCE AGENCY 

Subchapter A—Organization and 

Operations 

2. Add part 1207 to subchapter A to 

read as follows: 

PART 1207—MINORITY AND WOMEN 

INCLUSION 

Subpart A—General 

Sec. 

1207.1 Definitions. 

1207.2 Policy, purpose, and scope. 

1207.3 Limitations. 

1207.4–1207.9 [Reserved]. 

Subpart B—Minority and Women Inclusion 

and Diversity at the Federal Housing 

Finance Agency 

1207.10 FHFA workforce diversity; equal 

employment opportunity program. 

1207.11 Equal opportunity and outreach in 

FHFA contracting. 

1207.12–1207.19 [Reserved]. 

Subpart C—Minority and Women Inclusion 

and Diversity at Regulated Entities and the 

Office of Finance 

1207.20 Office of Minority and Women 

Inclusion. 

1207.21 Equal opportunity in employment 

and contracting. 

1207.22 Regulated entity and Office of 

Finance Reports. 

1207.23 Annual reports—format and 

contents. 

1207.24 Enforcement. 

Authority: 12 U.S.C. 4520 and 4526; 12 

U.S.C. 1833e; E.O. 11478. 

PART 1207—MINORITY AND WOMEN 

INCLUSION 

Subpart A—General 

§ 1207.1 Definitions. 

The following definitions apply to the 

terms used in this part: 

Business and activities means 

operational, commercial, and economic 

endeavors of any kind, whether for 

profit or not for profit and whether 

regularly or irregularly engaged in by a 

regulated entity or the Office of Finance, 

and includes, but is not limited to, 

management of the regulated entity or 

the Office of Finance, employment, 

procurement, insurance, and all types of 

contracts, including contracts for the 

issuance or guarantee of any debt, 

equity, or mortgage-related securities, 

the management of mortgage and 

securities portfolios, the making of 

equity investments, the purchase, sale 

and servicing of single- and multifamily mortgage loans, and the 

implementation of affordable housing or 

community investment programs and 

initiatives. 

Director means the Director of FHFA 

or his or her designee. 

Disability has the same meaning as 

defined in 29 CFR 1630.2(g) and 1630.3 

and Appendix to Part 1630— 

Interpretive Guidance on Title I of the 

Americans With Disabilities Act. 

Disabled means a person with a 

disability. 

Disabled-owned business means a 

business, and includes financial 

institutions, mortgage banking firms, 

investment banking firms, investment 

consultants or advisors, financial 

services entities, asset management 

entities, underwriters, accountants, 

brokers, brokers-dealers, and providers 

of legal services— 

(1) Qualified as a Service-Disabled 

Veteran-Owned Small Business Concern 

as defined in 13 CFR 125.8 through 

125.13; or 

(2) More than fifty percent (50%) of 

the ownership or control of which is 

held by one or more persons with a 

disability; and 

(3) More than fifty percent (50%) of 

the net profit or loss of which accrues 

to one or more persons with a disability. 

FHFA means the Federal Housing 

Finance Agency. 

Minority means Black or African 

American, American Indian or Alaska 

Native, Hispanic or Latino American, 

Asian American, and Native Hawaiian 

or Other Pacific Islander. 

Minority-owned business means a 

business, and includes financial 

institutions, mortgage banking firms, 

investment banking firms, investment 

consultants or advisors, financial 

services entities, asset management 

entities, underwriters, accountants, 

brokers, brokers-dealers and providers 

of legal services: 

(1) More than fifty percent (50%) of 

the ownership or control of which is 

held by one or more minority 

individuals; and 

(2) More than fifty percent (50%) of 

the net profit or loss of which accrues 

to one or more minority individuals. 

Office of Finance means the Office of 

Finance of the Federal Home Loan Bank 

System. 

Reasonable accommodation has the 

same meaning as defined in 29 CFR 

1630.2(o) and Appendix to Part 1630— 

Interpretive Guidance on Title I of the 

Americans With Disabilities Act. 

Regulated entity means the Federal 

Home Loan Mortgage Corporation, the 

Federal National Mortgage Association, 

any Federal Home Loan Bank and/or 

any affiliate thereof that is subject to the 

regulatory authority of FHFA. The term 

‘‘regulated entities’’ means (collectively) 

the Federal Home Loan Mortgage 

Corporation, the Federal National 

Mortgage Association, and/or any 

affiliate Federal Home Loan Bank and/ 

or any affiliate thereof that is subject to 

the regulatory authority of FHFA. 

Women-owned business means a 

business, and includes financial 

institutions, mortgage banking firms, 

investment banking firms, investment 

consultants or advisors, financial 

services entities, asset management 

entities, underwriters, accountants, 

brokers, brokers-dealers and providers 

of legal services: 

(1) More than fifty percent (50%) of 

the ownership or control of which is 

held by one or more women; 


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(2) More than fifty percent (50%) of 

the net profit or loss of which accrues 

to one or more women; and 

(3) A significant percentage of senior 

management positions of which are held 

by women. 

§ 1207.2 Policy, purpose, and scope. 

(a) General policy. FHFA’s policy is to 

promote non-discrimination, diversity 

and inclusion of women and minorities 

in its own activities and in the business 

and activities of the regulated entities 

and the Office of Finance. 

(b) Purpose. This part establishes 

minimum standards and requirements 

for FHFA, the regulated entities and the 

Office of Finance to promote diversity 

and ensure, to the maximum extent 

possible, the inclusion and utilization of 

minorities, women, individuals with 

disabilities, and minority-, women-, and 

disabled-owned businesses at all levels, 

in management and employment, in all 

business and activities, and in all 

contracts for services of any kind, 

including services that require the 

services of investment banking, asset 

management entities, broker-dealers, 

financial services entities, underwriters, 

accountants, investment consultants, 

and providers of legal services. 

(c) Scope. This part applies to FHFA’s 

contract and outreach programs, to each 

regulated entity’s and the Office of 

Finance’s implementation of and 

adherence to diversity, inclusion and 

non-discrimination policies, practices 

and principles. 

§ 1207.3 Limitations. 

Except as expressly provided herein 

for enforcement by FHFA, the 

regulations in this part do not, are not 

intended to, and should not be 

construed to create any right or benefit, 

substantive or procedural, enforceable at 

law, in equity, or through administrative 

proceeding, by any party against the 

United States, its departments, agencies, 

or entities, its officers, employees, or 

agents, a regulated entity or the Office 

of Finance, their officers, employees or 

agents, or any other person. 

§§ 1207.4 through 1207.9 [Reserved]. 

Subpart B—Minority and Women 

Inclusion and Diversity at the Federal 

Housing Finance Agency 

§ 1207.10 FHFA Workforce Diversity; 

Equal Employment Opportunity program. 

(a) General. FHFA will take 

affirmative steps to seek diversity in its 

workforce at all levels of the agency, 

consistent with the demographic 

diversity of the United States, and 

maintain an Equal Employment 

Opportunity (EEO) program consistent 

with the Equal Employment 

Opportunity Commission requirements 

for Federal agencies and Executive 

Order 11478. 

(b) Workforce diversity. FHFA is 

committed to a diverse workforce at all 

levels in the agency and in every area 

of its activity. FHFA will not 

discriminate in employment or in 

contracting against any person, 

contractor or potential contractor 

because of race, color, religion, national 

origin, sex, age, genetic information, 

disability, sexual orientation, or status 

as a parent. 

(c) Affirmative steps for workforce 

diversity. FHFA will engage in at least 

the following activities to promote 

diversity in the agency’s workforce: 

(1) Heavily recruiting at historically 

Black colleges and universities, 

Hispanic-serving institutions, women’s 

colleges, and colleges that typically 

serve the individuals with disabilities 

and majority minority populations; 

(2) Sponsoring and recruiting at job 

fairs in urban communities and placing 

employment advertisements in 

newspapers and magazines oriented 

toward women and people of color; 

(3) Partnering with organizations that 

are focused on developing opportunities 

for minorities and women to place 

talented young minorities and women 

in industry internships, summer 

employment and full-time positions; 

and 

(4) Where feasible, partnering with 

inner-city high schools, girl’s schools, 

and high schools with majority minority 

populations to establish or enhance 

financial literacy programs and provide 

mentoring. 

(d) EEO program elements. In 

addition to workforce diversity 

activities, FHFA’s EEO program will 

consist of at least the following 

activities and elements: 

(1) An EEO policy and complaint 

procedure for employees and applicants 

for employment; 

(2) A reasonable accommodation 

request procedure for employees and 

applicants for employment; 

(3) A program for maintaining contact 

and liaison with internal and external 

stakeholders, including other 

government agencies, on matters of 

diversity and equal opportunity; 

(4) Periodic workplace surveys to 

refresh workforce demographic data; 

(5) An alternative dispute resolution 

process for resolving complaints of 

employment discrimination; 

(6) An annual notice to employees 

and the public of FHFA’s commitment 

to EEO and non-discrimination that is 

distributed to all employees and 

published in a manner accessible to the 

public; 

(7) Ensuring the delivery of training 

for employees and supervisors with 

respect to non-discrimination 

obligations and rights; 

(8) Reporting as required on FHFA No 

FEAR Act training, non-discrimination 

and diversity training, and No FEAR Act 

compliance; 

(9) Collecting and reporting data on 

EEO complaints at FHFA; 

(10) Collecting, analyzing and 

reporting FHFA workforce demographic 

data with respect to all aspects of 

employment; 

(11) Recommending to the Director 

actions and plans for EEO and diversity 

enhancement in FHFA’s operations, 

programs and policies, programs, and 

implementing approved actions and 

plans; 

(12) Evaluating the effectiveness and 

impact of FHFA policies, programs and 

practices on diversity in FHFA; and 

(13) Maintaining equal opportunity 

and diversity in contracting policies, 

training contracting staff in these 

requirements, analyzing the 

effectiveness and reporting on agency 

efforts and outreach to promote 

diversity in contracting. 

§ 1207.11 Equal opportunity and outreach 

in FHFA contracting. 

(a) Equal opportunity in contracting. 

FHFA is committed to ensuring that 

minorities, women, individuals with 

disabilities, and minority-, women-, and 

disabled-owned businesses have the 

maximum practicable opportunity to 

participate fully in all contracts 

awarded by FHFA. FHFA does not 

discriminate on the basis of race, color, 

religion, national origin, sex, age, 

genetic information, disability, sexual 

orientation or status as a parent in the 

solicitation, award, or administration of 

contracts. 

(b) Outreach. FHFA’s outreach is 

intended to ensure that minorities, 

women and individuals with 

disabilities, and minority-, women-, and 

disabled-owned businesses are made 

aware of and given the opportunity to 

compete for contracts with FHFA. FHFA 

will conduct outreach activities that 

may include, but are not limited to: 

(1) Identifying contractors that are 

minorities, women, individuals with 

disabilities, and minority-, women-, and 

disabled-owned businesses by obtaining 

lists and directories maintained by 

government agencies, trade groups, and 

other organizations; 

(2) Offering technical assistance for 

minorities, women, individuals with 

disabilities, and minority-, women-, and 

disabled-owned businesses to 


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participate in FHFA’s contracting 

process; 

(3) Advertising contract opportunities 

through media targeted to reach 

potential contractors that are minorities, 

women, individuals with disabilities, 

and minority-, women-, and disabledowned businesses; 

(4) Participating in events such as 

conventions, trade shows, seminars, 

professional meetings and other 

gatherings intended to promote business 

opportunities for minorities, women, 

individuals with disabilities, and 

minority-, women-, and disabled-owned 

businesses; and 

(5) Ensuring that FHFA contracting 

staff understands and promotes the 

outreach program. 

(c) Complaints of discrimination in 

FHFA contracting. Any contractor or 

potential contractor that believes FHFA 

intentionally discriminated on the basis 

of race, color, religion, national origin, 

sex, age, genetic information, or 

disability, sexual orientation or status as 

a parent in the solicitation, award or 

administration of a contract may make 

such a complaint to the responsible 

FHFA contracting officer, consistent 

with FHFA’s contract dispute resolution 

procedure. 

(d) Record-keeping. FHFA’s 

contracting officer will maintain data of 

complaints of discrimination, resolution 

of those complaints, FHFA’s outreach 

efforts, and the sources from which 

successful contractor bidders who are 

minorities, women, individuals with 

disabilities, or minority-, women-, and 

disabled-owned businesses learned of 

the contracting opportunity. 

§§ 1207.12 through 1207.19 [Reserved]. 

Subpart C—Minority and Women 

Inclusion and Diversity at Regulated 

Entities and the Office of Finance 

§ 1207.20 Office of Minority and Women 

Inclusion. 

(a) Establishment. Each regulated 

entity and the Office of Finance shall 

establish and maintain an Office of 

Minority and Women Inclusion, or 

designate and maintain an office to 

perform the responsibilities of this part, 

under the direction of an officer of the 

regulated entity or the Office of Finance 

who reports directly to either the Chief 

Executive Officer or the Chief Operating 

Officer, or the equivalent. Each 

regulated entity and the Office of 

Finance shall notify the Director within 

thirty (30) days after any change in the 

designation of the office performing the 

responsibilities of this part. 

(b) Adequate resources. Each 

regulated entity and the Office of 

Finance will ensure that its Office of 

Minority and Women Inclusion, or the 

office designated to perform the 

responsibilities of this part, is provided 

human, technological, and financial 

resources sufficient to fulfill the 

requirements of this part. 

(c) Responsibilities. Each Office of 

Minority and Women Inclusion, or the 

office designated to perform the 

responsibilities of this part, is 

responsible for fulfilling the 

requirements of this part, 12 U.S.C. 

1833e(b) and 4520, and such standards 

and guidance as the Director may issue 

hereunder. 

§ 1207.21 Equal opportunity in 

employment and contracting. 

(a) Equal opportunity notice. Each 

regulated entity and the Office of 

Finance shall publish a statement, 

endorsed by its Chief Executive Officer 

and approved by its Board of Directors, 

confirming its commitment to the 

principles of equal opportunity in 

employment and in contracting, 

regardless of race, color, national origin, 

sex, religion, age, disability status, or 

genetic information. Publication shall 

include, at a minimum, conspicuous 

posting in each regulated entity’s and 

Office of Finance’s physical facility 

(including through alternative media— 

e.g., Braille, audio—as necessary) and 

accessible posting on the regulated 

entity’s and the Office of Finance’s web 

site. The notice shall be updated and republished, re-endorsed by the Chief 

Executive Officer and re-approved by 

the Board of Directors annually. 

(b) Policies and procedures. Each 

regulated entity and the Office of 

Finance shall develop, implement, and 

maintain standards and procedures to 

ensure, to the maximum extent possible, 

the inclusion and utilization of 

minorities, women, individuals with 

disabilities, and minority-, women-, and 

disabled-owned businesses in all 

business and activities and at all levels 

of the regulated entity and the Office of 

Finance, including in management, 

employment, procurement, insurance, 

and all types of contracts. The policies 

and procedures of each regulated entity 

and the Office of Finance at a minimum 

shall: 

(1) Confirm its adherence to the 

principles of equal opportunity and 

non-discrimination in employment and 

in contracting; 

(2) Describe its policy against 

discrimination in employment and 

contracting; 

(3) Establish internal procedures to 

receive and attempt to resolve 

complaints of discrimination in 

employment and in contracting, which 

shall include an opportunity to use 

alternative dispute resolution 

techniques, when appropriate; 

(4) Establish an effective procedure 

for accepting, reviewing and granting or 

denying requests for reasonable 

accommodations of disabilities from 

employees or applicants for 

employment. Publication will include at 

a minimum making the procedure 

conspicuously accessible to employees 

and applicants through print, electronic, 

or alternative (e.g., Braille, audio) media 

and through the regulated entity’s or the 

Office of Finance’s web site; 

(5) Encourage the consideration of 

diversity in nominating or soliciting 

nominees for positions on boards of 

directors; 

(6) Require that each contract it enters 

contains a material clause committing 

the contractor to practice the principles 

of equal employment opportunity and 

non-discrimination in all its business 

activities and requiring each such 

contractor to include the clause in each 

subcontract it enters for services or 

goods provided to the regulated entity 

or the Office of Finance; 

(7) Be published and accessible to 

employees, applicants for employment, 

contractors, potential contractors, and 

members of the public through print, 

electronic, or alternative (e.g., Braille, 

audio) media and through the regulated 

entity’s or the Office of Finance’s web 

site; and 

(8) Be reviewed at the direction of the 

officer immediately responsible for 

directing the Office of Minority and 

Women Inclusion, or other office 

designated to perform the 

responsibilities of this part, at least 

annually to assess their effectiveness 

and to incorporate appropriate changes. 

(c) Outreach for contracting. Each 

regulated entity and the Office of 

Finance shall establish a program for 

outreach designed to ensure to the 

maximum extent possible the inclusion 

in contracting opportunities of 

minorities, women, individuals with 

disabilities, and minority-, women-, and 

disabled-owned businesses. The 

program at a minimum shall: 

(1) Apply to all contracts entered by 

the regulated entity or the Office of 

Finance, including contracts with 

financial institutions, investment 

banking firms, investment consultants 

or advisors, financial services entities, 

mortgage banking firms, asset 

management entities, underwriters, 

accountants, brokers, brokers-dealers, 

and providers of legal services; 

(2) Establish standards and 

procedures requiring publication of 

contracting opportunities designed to 

encourage contractors that are 

minorities, women, individuals with 


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disabilities, and minority-, women-, and 

disabled-owned businesses to submit 

offers or bid for the award of such 

contracts; and 

(3) Ensure the consideration of the 

diversity of a contractor when the 

regulated entity or the Office of Finance 

reviews and evaluates offers from 

contractors. 

§ 1207.22 Regulated entity and Office of 

Finance reports. 

(a) General. Each regulated entity and 

the Office of Finance, through its Office 

of Minority and Women Inclusion, or 

other office designated to perform the 

responsibilities of this part, shall report 

in writing, in such format as the 

Director may require, to the Director 

describing its efforts to promote 

diversity and ensure the inclusion and 

utilization of minorities, women, 

individuals with disabilities, and 

minority-, women-, and disabled-owned 

businesses at all levels, in management 

and employment, in all business and 

activities, and in all contracts for 

services and the results of such efforts. 

(1) Within (90) days after the effective 

date of this regulation each regulated 

entity and the Office of Finance shall 

submit to the Director or his or her 

designee a preliminary status report 

describing actions taken, plans for and 

progress toward implementing the 

provisions of 12 U.S.C. 4520 and this 

part; and including to the extent 

available the data and information 

required by this part to be included in 

an annual report. 

(2) FHFA intends to use the 

preliminary status report solely as 

material relating to examining the 

submitting regulated entity or the Office 

of Finance and reporting to the 

institution on its operations and the 

condition of its program. 

(b) FHFA use of reports. The data and 

information reported to FHFA under 

this part are intended to be used for any 

permissible supervisory and regulatory 

purpose, including examinations, 

enforcement actions, identification of 

matters requiring attention, and 

production of FHFA examination, 

operating and condition reports related 

to one or more of the regulated entities 

and the Office of Finance. FHFA may 

use the information and data submitted 

to issue aggregate reports and data 

summaries that each regulated entity 

and the Office of Finance may use to 

assess its own progress and 

accomplishments, or to the public as it 

deems necessary. FHFA is not requiring, 

and does not desire, that reports under 

this part contain personally identifiable 

information. 

(c) Frequency of reports. Each 

regulated entity and the Office of 

Finance shall submit an annual report 

on or before February 1 of each year, 

beginning in 2011, reporting on the 

period of January 1 through December 

31 of the preceding year, and such other 

reports as the Director may require. If 

the date for submission falls on a 

Saturday, Sunday, or Federal holiday, 

the report is due no later than the next 

day that is not a Saturday, Sunday, or 

Federal holiday. 

(d) Annual summary. Each regulated 

entity and the Office of Finance shall 

include in its annual report to the 

Director (pursuant to 12 U.S.C. 1723a(k), 

1456(c), or 1440, with respect to the 

regulated entities) a summary of its 

activities under this part during the 

previous year, including at a minimum, 

detailed information describing the 

actions taken by the regulated entity or 

the Office of Finance pursuant to 12 

U.S.C. 4520 and a statement of the total 

amounts paid by the regulated entity or 

the Office of Finance to third-party 

contractors during the previous year and 

the percentage of such amounts paid to 

contractors that are minorities or 

minority-owned businesses, women or 

women-owned businesses, and 

individuals with disabilities or 

disabled-owned businesses, 

respectively. 

§ 1207.23 Annual reports—format and 

contents. 

(a) Format. Each annual report shall 

consist of a detailed summary of the 

regulated entity’s or the Office of 

Finance’s activities during the reporting 

year to carry out the requirements of 

this part, which report may also be 

made a part of the regulated entity’s or 

the Office of Finance’s annual report to 

the Director. The report shall contain a 

table of contents and conclude with a 

certification by the regulated entity’s or 

the Office of Finance’s officer 

responsible for the annual report that 

the data and information presented in 

the report, are accurate, and are 

approved for submission. 

(b) Contents. The annual report shall 

contain the information provided in the 

regulated entity’s or the Office of 

Finance’s annual summary pursuant to 

§ 1207.22(d) and, in addition to any 

other information or data the Director 

may require, shall include: 

(1) The EEO–1 Employer Information 

Report (Form EEO–1 used by the Equal 

Employment Opportunity Commission 

and the Office of Federal Contract 

Compliance Programs to collect certain 

demographic information) or similar 

reports filed by the regulated entity or 

the Office of Finance during the 

reporting year. If the regulated entity or 

the Office of Finance does not file Form 

EEO–1 or similar reports, the regulated 

entity or the Office of Finance shall 

submit to FHFA a completed Form 

EEO–1; 

(2) All other reports or plans the 

regulated entity or the Office of Finance 

submitted to the Equal Employment 

Opportunity Commission, the 

Department of Labor, Office of Federal 

Contract Compliance Programs or 

Congress (‘‘reports or plans’’ is not 

intended to not include separate 

complaints or charges of discrimination 

or responses thereto charges of 

discrimination) during the reporting 

year; 

(3) Data showing by minority, gender, 

and disability classification the number 

of individuals applying for employment 

with the regulated entity or the Office of 

Finance in each occupational or job 

category identified on the Form EEO–1 

during the reporting year; 

(4) Data showing by minority, gender, 

and disability classification the number 

of individuals hired for employment 

with the regulated entity or the Office of 

Finance in each occupational or job 

category identified on the Form EEO–1 

during the reporting year; 

(5) Data showing by minority, gender 

and disability classification, and 

categorized as voluntary or involuntary, 

the number of separations from 

employment with the regulated entity or 

the Office of Finance in each 

occupational or job category identified 

on the Form EEO–1 during the reporting 

year; 

(6) Data showing the number of 

requests for reasonable accommodation 

received from employees and applicants 

for employment, the number of requests 

granted, and the disabilities 

accommodated and the types of 

accommodation granted during the 

reporting year; 

(7) Data showing for the reporting 

year by minority, gender, and disability 

classification the number of individuals 

applying for promotion at the regulated 

entity or the Office of Finance— 

(i) Within each occupational or job 

category identified on the Form EEO–1; 

and 

(ii) From one such occupational or job 

category to another. 

(8) Data showing by minority, gender, 

and disability classification the number 

of individuals— 

(i) Promoted at the regulated entity or 

the Office of Finance within each 

occupational or job category identified 

on the Form EEO–1, after applying for 

such a promotion; 

(ii) Promoted at the regulated entity or 

the Office of Finance within each 


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occupational or job category identified 

on the Form EEO–1, without applying 

for such a promotion; 

(iii) Promoted at the regulated entity 

or the Office of Finance from one 

occupational or job category identified 

on the Form EEO–1 to another such 

category, after applying for such a 

promotion. 

(9) A comparison of the data reported 

under paragraphs (b)(1) through (b)(8) of 

this section to such data as reported in 

the previous year together with a 

narrative analysis; 

(10) Descriptions of all regulated 

entity or Office of Finance outreach 

activity during the reporting year to 

low-income, inner city, minority, 

women, and disabled populations, 

including activities to provide financial 

literacy education, to recruit employees, 

to solicit or advertise for contractors to 

provide service to the regulated entity or 

Office of Finance, or to inform such 

contractors of the regulated entity’s or 

Office of Finance’s contracting process 

or provide technical assistance for 

participation in the contracting process, 

including the identification of any 

partners, organizations, or government 

offices with which the regulated entity 

or the Office of Finance participated in 

such outreach activity; 

(11) Cumulative data separately 

showing the number of contracts 

entered with minority or minorityowned businesses, women or womenowned businesses, and disabled or 

disabled-owned businesses during the 

reporting year; 

(12) Cumulative data separately 

showing for the reporting year the total 

amount the regulated entity or the 

Office of Finance paid to contractors 

that are— 

(i) Minority or minority-owned 

businesses; 

(ii) Women or women-owned 

businesses; and 

(iii) Disabled or disabled-owned 

businesses. 

(13) The annual total of amounts paid 

to contractors and the percentage of 

which was paid separately to minority 

or minority-owned businesses, women 

or women-owned businesses, and 

disabled or disabled-owned businesses 

during the reporting year; 

(14) Certification of compliance with 

§§ 1207.20 and 1207.21, together with 

sufficient documentation to verify 

compliance; 

(15) Data for the reporting year 

showing, separately, the number of 

equal opportunity complaints 

(including administrative agency 

charges or complaints, arbitral or 

judicial claims) against the regulated 

entity or the Office of Finance that— 

(i) Claim employment discrimination, 

by basis or kind of the alleged 

discrimination (race, sex, disability, 

etc.) and by result (settlement, favorable, 

or unfavorable outcome); 

(ii) Claim discrimination in any 

aspect of the contracting process or 

administration of contracts, by basis of 

the alleged discrimination and by result; 

and 

(iii) Were resolved through the 

regulated entity’s or the Office of 

Finance’s dispute resolution procedure. 

(16) Data showing for the reporting 

year amounts paid to claimants by the 

regulated entity or the Office of Finance 

for settlements or judgments on 

discrimination complaints— 

(i) In employment, by basis of the 

alleged discrimination; and 

(ii) In any aspect of the contracting 

process or in the administration of 

contracts, by basis of the alleged 

discrimination. 

(17) A comparison of the data 

reported under paragraphs (b)(12) and 

(b)(13) of this section with the same 

information reported for the previous 

year; 

(18) A narrative identification and 

analysis of the reporting year’s activities 

the regulated entity or the Office of 

Finance considers successful and 

unsuccessful in achieving the purpose 

and policy of regulations in this part 

and a description of progress made from 

the previous year; and 

(19) A narrative identification and 

analysis of business activities, levels, 

and areas in which the regulated entity’s 

or the Office of Finance’s efforts need to 

improve with respect to achieving the 

purpose and policy of regulations in this 

part, together with a description of 

anticipated efforts and results the 

regulated entity or the Office of Finance 

expects in the succeeding year. 

§ 1207.24 Enforcement. 

The Director may enforce this 

regulation and standards issued under it 

in any manner and through any means 

within his or her authority, including 

through identifying matters requiring 

attention, corrective action orders, 

directives, or enforcement actions under 

12 U.S.C. 4513b and 4514. The Director 

may conduct examinations of a 

regulated entity’s or the Office of 

Finance’s activities under and in 

compliance with this part pursuant to 

12 U.S.C. 4517. 

Dated: January 4, 2010. 

Edward J. DeMarco, 

Acting Director, Federal Housing Finance 

Agency. 

[FR Doc. 2010–111 Filed 1–8–10; 8:45 am] 

BILLING CODE 8070–$$–P 

SMALL BUSINESS ADMINISTRATION 

13 CFR Parts 121 and 124 

Small Business Size Regulations; 8(a) 

Business Development/Small 

Disadvantaged Business Status 

Determinations 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice of public meetings; 

request for comments. 

SUMMARY: The U.S. Small Business 

Administration (SBA) announces it is 

holding additional meetings in a series 

of public meetings on the topic of the 

proposed changes to the 8(a) Business 

Development (BD) Program Regulations 

and Small Business Size Regulations. 

Testimony and comments presented at 

the public comment meetings will 

become part of the administrative record 

as comments addressing the proposed 

changes to the regulations pertaining to 

the 8(a) BD program and small business 

size standards. In conjunction with the 

public meetings SBA is conducting 

tribal consultations prior to the end of 

the comment period for the proposed 

rulemaking. 

DATES: 

1. January 14, 2010, Miami, FL. 

2. January 19, 2010, Los Angeles, CA. 

ADDRESSES: 

1. Miami, FL—SBA, South Florida 

District Office, 100 South Biscayne 

Boulevard, 7th Floor, Miami, FL 33131– 

2011. (Visitors will be subject to a 

security screening and might be 

required to present valid photo 

identification.) 

2. Los Angeles, CA—SBA, Los 

Angeles District Office, 330 North Brand 

Blvd., Suite 1200, Glendale, CA 91203. 

(Visitors will be subject to a security 

screening and might be required to 

present valid photo identification.) 

Send all written comments to Mr. 

Joseph Loddo, Associate Administrator 

for Business Development, U.S. Small 

Business Administration, 409 3rd Street, 

SW., Washington, DC 20416. 

FOR FURTHER INFORMATION CONTACT: If 

you have any questions on this 

proposed rulemaking, call or email 

LeAnn Delaney, Deputy Associate 

Administrator, Office of Business 

Development, at (202) 205–5852, or 

leann.delaney@sba.gov. If you have any 

questions about registering or attending 

the public meeting please contact Ms. 

Latrice Andrews, SBA’s Office of 

Business Development at (202) 205– 

5852, or latrice.andrews@SBA.gov, or by 

facsimile to (202) 481–4042. 

SUPPLEMENTARY INFORMATION: 


cprice-sewell on DSK2BSOYB1PROD with PROPOSALS