Office of the Comptroller of the Currency rated Best OMWI Office in 2015

BEST: Office of the Comptroller of the Currency: Top performance in 2014. Moving rapidly. A-. WORST: Federal Reserve Bank of New York: Minimal social return. Elitist OMWI strategy not likely to work. D.
 
 
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* Women
* Minority
* Contracting

Industry:
* Business

Location:
* Washington - District of Columbia - US

Subject:
* Reports

WASHINGTON - Sept. 15, 2015 - PRLog -- Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act contains a provision creating an Office of Minority and Women Inclusion (OMWI) at twenty nine (29) agencies. These Offices, listed below, are responsible for monitoring diversity efforts at the agencies, regulated entities and agency contractors.

The 29 OMWI Offices reported $692 million in contracting dollars with women and minority firms in 2014. That number was to $537 million in 2013, but please note that, given the lack of 2013 minority and women business contracting reporting data for some of the OMWI Offices, the two figures are not directly comparable.

http://www.slideshare.net/wmcunningham/best-and-worst-omwi-offices



We have been reviewing and rating OMWI Offices since 2011 using our Fully Adjusted Return© methodology. Below, Best and Worst of the 29 OMWI Offices.

BEST: Office of the Comptroller of the Currency: Best performance in 2014. Moving rapidly. A-.

WORST: Federal Reserve Bank of New York: Minimal social return. Elitist OMWI strategy not likely to work. D.

Background - Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act contains a “provision creating an Office of Minority and Women Inclusion at various agencies to monitor the diversity efforts of the agencies, the regulated entities and agency contractors.” The Section requires the Department of the Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, each of the Federal Reserve Banks, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Securities and Exchange Commission and Bureau of Consumer Financial Protection to create “an Office of Minority and Women Inclusion (‘OMWI’) to be responsible for all agency matters relating to diversity in management, employment and business activities.” As one analyst noted, “In addition to developing standards for and monitoring the employment diversity of the respective agency, the OMWI will have authority over the entities regulated by the agency and contractors providing services to the agencies.” Service providers covered by the Section include “financial institutions, investment banking firms, mortgage banking firms, asset management firms, brokers, dealers, financial services entities, underwriters, accountants, investment consultants, and providers of legal services.” For more information, see: https://omwi.eventbrite.com

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Source:Creativ Investment Research
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