Federal Register - August 10, 2021
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Source: Federal Register
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Federal Register / Vol. 86, No. 151 / Tuesday, August 10, 2021 / Notices TABLE 2SUMMARY OF ESTIMATED ANNUAL BURDEN
OMB No. 30640006
Information collection descriptionsubmission type
Type of burden obligation to respond
Frequency of response
Number of responses per respondent
Joint Standards for Assessing Diversity Policies and PracticesPaper Form.
Joint Standards for Assessing Diversity Policies and PracticesElectronic Form Implementation.
Joint Standards for Assessing Diversity Policies and PracticesElectronic Form Ongoing.
Joint Standards for Assessing Diversity Policies and PracticesFree-Form.
Joint Standards for Assessing Diversity Policies and PracticesNon-material.
Joint Standards for Assessing Diversity Policies and PracticesPublic Disclosure.
Reporting Voluntary
Annual
5
1
8
40
Reporting Voluntary
Annual
45
1
7
315
Reporting Voluntary
Annual
130
1
3
390
Reporting Voluntary
Annual
5
1
12
60
Reporting Voluntary
Annual
10
1
0.1
1
Disclosure Voluntary
Annual
195
1
1
195
Total Annual Burden Hours:.
1,001
Number of respondents
Annual burden hours
Hours per response
Source: FDIC.
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General Description of Collection Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 the Act required the Office of the Comptroller of the Currency OCC, Board of Governors of the Federal Reserve System Board, Federal Deposit Insurance Corporation FDIC, Bureau of Consumer Financial Protection CFPB, National Credit Union Administration NCUA, and Securities and Exchange Commission SEC together, Agencies and separately, Agency each to establish an Office of Minority and Women Inclusion OMWI to be responsible for all matters of the Agency relating to diversity in management, employment, and business activities. The Act also instructed each OMWI Director to develop standards for assessing the diversity policies and practices of entities regulated by the Agency. The Agencies worked together to develop joint standards and, on June 10, 2015, they jointly published in the Federal Register 57 the Final Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies Policy Statement.
The Policy Statement contains a collection of information within the meaning of the Paperwork Reduction Act of 1995 PRA. The Policy Statement 57 80
FR 33016.
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includes Joint Standards that cover Practices to Promote Transparency of Organizational Diversity and Inclusion.
These Joint Standards contemplate that a regulated entity is transparent about its diversity and inclusion activities by making certain information available to the public annually on its website or through other appropriate communications methods, in a manner reflective of the entitys size and other characteristics. The specific information referenced in these standards is: a Leadership commitment to diversity and inclusion; b workforce diversity and employment practices; c progress toward achieving diversity and inclusion in its procurement activities;
and d opportunities available at the entity that promote diversity.
In addition, the Policy Statement includes Joint Standards that address Entities Self-Assessment. The Joint Standards for Entities Self-Assessment envision that a regulated entity, in a manner reflective of its size and other characteristics, a conducts annually a voluntary self-assessment of its diversity policies and practices; b monitors and evaluates its performance under its diversity policies and practices on an ongoing basis; c provides information pertaining to its self-assessment to the OMWI Director of its primary federal financial regulator; and d publishes information pertaining to its efforts with respect to the Joint Standards.
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The collection of information described above is reported to the FDIC
via the form entitled Diversity SelfAssessment of Financial Institutions Regulated by the FDIC, which can be submitted in paper 58 or electronic format.59 To facilitate DSA submissions, the FDIC has developed the automated Financial Institution Diversity SelfAssessment FIDSA application. FID
SA provides FDIC-regulated financial institutions an easy and efficient way to electronically complete the diversity self-assessment; work with multiple users; view previous submissions;
attach supporting material; and print and save in pdf format.60
Request for Comment Comments are invited on: a Whether the collection of information is necessary for the proper performance of the FDICs functions, including whether 58 The paper version of the Diversity SelfAssessment of Financial Institutions Regulated by the FDIC form form number 2710/05 can be viewed at the following location: https
www.fdic.gov/resources/regulations/federalregister-publications/2021/2021-form-2710-05diversity-self-assessment-paper-form.pdf.
59 The electronic version of the Diversity SelfAssessment of Financial Institutions Regulated by the FDIC form form number 2710/06 can be viewed at the following location: https
www.fdic.gov/resources/regulations/federalregister-publications/2021/2021-form-2710-06diversity-self-assessment-screen-shots.docx.
60 As described in the FIDSA portal, available at https www.fdic.gov/about/diversity/
fidsaportal.html accessed May 1, 2021.
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