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Diversity Disclosure Comment Deadline Nears
The deadline to submit objections to a Department of Labor Office of Federal Contract Compliance Programs (OFCCP) disclosure of federal contractor diversity data is Sept. 19. The OFCCP considers banks to be federal contractors because they accept deposit insurance.
The Center for Investigative Reporting made a Freedom of Information Act (FOIA) request seeking the disclosure of employee diversity data collected by the Department of Labor. Specifically, the FOIA asks the office to disclose data collected in “EEO-1 Reports” that federal contractors submitted between 2016 and 2020.
The American Bankers Association (ABA) published a members-only staff analysis of the request and a template for banks to submit comments to the release of their EEO-1 Reports.
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OCC to Lower Assessments in 2023
Effective March 2023, the Office of the Comptroller of the Currency (OCC) will reduce assessments for a bank's first $200 million in assets by 40%. The agency will also make a 20% reduction for bank assets between $20 million and $20 billion. "The purpose of this adjustment is to level the playing field with the cost of supervision compared to state community bank charters," said Acting Comptroller of the Currency Michael Hsu.
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OCC Releases Strategic Plan
The OCC’s new strategic plan outlines the agency’s priorities over the next five years, including diversifying its workforce, enhancing the implementation of risk-based supervision and reinforcing its commitment to community banks.
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