The Congressional Tri-Caucus and the Federal Financial Regulatory Agencies

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On March 24, 2014, Representatives Maxine Waters (D-California), Al Green (D-Texas), as well as seven other members of Congress wrote a letter to the federal financial regulatory agencies (listed below) requesting a review of the agencies’ “internal operations to determine whether any personnel practices have created a discriminatory workplace or have otherwise systematically disadvantages minorities and women employees, particularly from obtaining senior-management level positions.”


Congressional Tri-Caucus

The Congressional Tri-Caucus is composed of the Congressional Asian Pacific American Caucus, the Congressional Black Caucus, and the Congressional Hispanic Caucus.

Federal Financial Regulatory Agencies

Reports of the Offices of Inspector General of the Federal Financial Regulatory Agencies

These reports were in response to the request in the Waters letter, dated March 24, 2015. [Note:  These reports were covered in a blog post.]

Federal Financial Agency Report Number Internet Link
Consumer Financial Protection Bureau Audit report 2015-MO-C-002 http://oig.federalreserve.gov/reports/cfpb-diversity-inclusion-mar2015.pdf
Department of the Treasury, Office of the Comptroller of the Currency OIG-15-017 http://www.treasury.gov/about/organizational-structure/ig/Audit%20Reports%20and%20Testimonies/OIG-15-017.pdf
Federal Deposit Insurance Corporation Eval-15-001 http://www.fdicoig.gov/reports15/15-01EV.pdf
Federal Housing Finance Agency EVL-2015-003 http://fhfaoig.gov/Content/Files/EVL-2015-003.pdf
Federal Reserve Board Audit report 2015-MO-B-006 http://oig.federalreserve.gov/reports/board-diversity-inclusion-mar2015.pdf
National Credit Union Administration OIG-14-09 http://www.ncua.gov/about/Leadership/CO/OIG/Documents/OIG201409EqualOpportunityDiversity.pdf
Securities and Exchange Commission 528 http://www.sec.gov/oig/reportspubs/528.pdf

 


Rep. Waters and the Congressional Tri-Caucus (described above) issued a Democratic Staff Report in 2015. The report found three general trends:

  • “Minorities and women remain underrepresented in their workforces.
  • Minorities and women are significantly underrepresented at the senior-management level in proportion to their overall participation rates.
  • African-American employees generally received lower performance management review (PMR) scores than White employees.”

Along with the Report, nine Members of Congress sent a letter, which asked for further information from the federal financial regulatory agencies.

On January 8, 2016, the Tri-Caucus issued a press release regarding responses to that letter from the federal financial regulatory agencies.

There is a video of the press conference announcing the release of the Report on YouTube.

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