Section 342 requires each OMWI Director to develop standards for “assessing the diversity policies and practices of entities regulated by the agency.” The Policy Statement, published jointly by the agencies in June 2015, contains these standards (Joint Standards).
The Policy Statement contains a “collection of information” within the meaning of the Paperwork Reduction Act (PRA). The Policy Statement includes a standard entitled “Practices to Promote Transparency of Organizational Diversity and Inclusion,” which encourages a regulated entity to be transparent about its diversity and inclusion activities by voluntarily disclosing certain information available to the public annually on its websites or through other appropriate communication methods, in a manner reflective of the entity’s size and other characteristics (Transparency Standard). In addition, the Policy Statement includes a standard entitled “Entities’ Self-Assessment,” which encourages a regulated entity, in a manner reflective of its size and other characteristics, to voluntarily conduct a self-assessment of its diversity policies and practices and to report information pertaining to its self-assessment to the OMWI Director of its primary federal financial regulator, as well as to publish information pertaining to its efforts with respect to the Joint Standards (Self-Assessment Standard).
US Code:
12 USC 5452
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
The estimated total annual burden for the FR 2100 is 1,000 hours, and would remain unchanged with the revisions. The number of respondents is based on the average number of FR 2100 reports received in the past two years. The FR 2100 includes a disclosure provision for respondent institutions. The Board revised the FR 2100 information collection to account for this disclosure provision.
$0
No
Yes
No
No
No
No
No
Scott Farmer 202-452-2253 Scott.W.Farmer@frb.gov
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Form FR 2100 Reporting
FR2100_20200819_omb.pdf
Disclosure