PRIDE Act of 2022
Bill: H.R.6599 | Sponsor: Rep. Williams, Nikema (D-GA)
Policy area: Finance and Financial Sector

Summary:
Promoting Responsive Inclusion and Diverse Engagement Act of 2022 or the PRIDE Act of 2022
This bill requires federal banking and finance agencies to expand the efforts of their existing Offices of Minority and Women Inclusion to include individuals who are lesbian, gay, bisexual, transgender, queer, and other related identities. These offices are responsible for all matters related to such diversity in management, employment, and business activities.

To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act 
  to expand the Offices of Minority and Women Inclusion to encompass 
               LGBTQ+ inclusion, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Promoting Responsive Inclusion and 
Diverse Engagement Act of 2022'' or the ``PRIDE Act of 2022''.

SEC. 2. EXPANDING THE OFFICES OF MINORITY AND WOMEN INCLUSION TO 
              ENCOMPASS LGBTQ+ INCLUSION.

    (a) In General.--Section 342 of the Dodd-Frank Wall Street Reform 
and Consumer Protection Act (12 U.S.C. 5452) is amended--
            (1) in the heading, by striking ``and women'' and inserting 
        ``, women, and lgbtq+'';
            (2) by striking ``Office of Minority and Women Inclusion'' 
        each place such term appears in heading or text and inserting 
        ``Office of Minority, Women, and LGBTQ+ Inclusion'';
            (3) by striking ``and women-owned'' each place such term 
        appears and inserting ``, women-owned, and LGBTQ+-owned'';
            (4) in subsection (b)(2)(A), by striking ``and gender'' and 
        inserting ``gender, gender identity, and sexual orientation'';
            (5) in subsection (c)--
                    (A) in paragraph (1), by inserting ``LGBTQ+,'' 
                after ``women,'';
                    (B) in paragraph (2), by striking ``and 
                minorities'' and inserting ``, minorities, and LGBTQ+ 
                individuals''; and
                    (C) in paragraph (3)(A), by striking ``and women'' 
                and inserting ``, women, and LGBTQ+ individuals'';
            (6) in subsection (e)--
                    (A) in paragraph (3), by striking ``and women'' and 
                inserting ``, women, and LGBTQ+''; and
                    (B) in paragraph (4), by striking ``and women'' and 
                inserting ``, women, and LGBTQ+ individuals'';
            (7) in subsection (f), by striking ``and women'' each place 
        such term appears and inserting ``, women, and LGBTQ+ 
        individuals''; and
            (8) in subsection (g), by adding at the end the following:
            ``(7) LGBTQ+.--The term `LGBTQ+' means lesbian, gay, 
        bisexual, transgender, queer, and other identities that 
        experience discrimination related to their sexual orientation 
        or gender identity.
            ``(8) LGBTQ+-owned business.--The term `LGBTQ+-owned 
        business' means a business--
                    ``(A) more than 50 percent of the ownership or 
                control of which is held by 1 or more LGBTQ+ 
                individuals; and
                    ``(B) more than 50 percent of the net profit or 
                loss of which accrues to 1 or more LGBTQ+ 
                individuals.''.
    (b) Conforming Amendments.--
            (1) Dodd-frank wall street reform and consumer protection 
        act.--The Dodd-Frank Wall Street Reform and Consumer Protection 
        Act (12 U.S.C. 5301 et seq.) is amended--
                    (A) in the table of contents in section 1(b), in 
                the item relating to section 342, by striking ``AND 
                WOMEN'' and inserting ``, WOMEN, AND LGBTQ+''; and
                    (B) in section 1016(c)(9), by striking ``Office of 
                Minority and Women Inclusion'' and inserting ``Office 
                of Minority, Women, and LGBTQ+ Inclusion''.
            (2) Housing and community development act of 1992.--Section 
        1319A of the Housing and Community Development Act of 1992 (12 
        U.S.C. 4520) is amended--
                    (A) by striking ``Office of Minority and Women 
                Inclusion'' each place such term appears in heading or 
                text and inserting ``Office of Minority, Women, and 
                LGBTQ+ Inclusion'';
                    (B) in subsection (b), by striking ``and women, and 
                minority- and women-owned'' and inserting ``, women, 
                and LGBTQ+ individuals, and minority-, women-, and 
                LGBTQ+-owned'';
                    (C) in subsection (e), by striking ``and women and 
                businesses owned by minorities and women'' and 
                inserting ``, women, and LGBTQ+ individuals and 
                businesses owned by minorities, women, and LGBTQ+ 
                individuals''; and
                    (D) in subsection (f)--
                            (i) in paragraph (2), by striking ``and 
                        people of color'' and inserting ``, people of 
                        color, and LGBTQ+ individuals''; and
                            (ii) in paragraph (3), by striking ``and 
                        women to place talented young minorities and 
                        women'' and inserting ``, women, and LGBTQ+ 
                        individuals to place talented young minorities, 
                        women, and LGBTQ+ individuals''.
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