The Basics Of Dodd-Frank's Diversity Provision

Law360, New York (October 6, 2010, 1:59 PM EDT) -- The recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act includes new diversity mandates for financial services and related firms. Although this significant provision has not attracted much media attention, it has caused quite a stir across the financial industry.

Dubbed the diversity provision of the Dodd-Frank Act, it gives the executive branch of the federal government new powers to require financial firms with which it contracts to hire, promote and retain more women and minorities, and to use more minority- and women-owned suppliers....
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