Financial sector pushes back against Dodd-Frank diversity rules

03/16/2014 |

Rules proposed under the Dodd-Frank financial reforms are aimed at requiring banks and financial institutions to conduct regular employee diversity assessments. But many groups are complaining about the proposals. That's probably shortsighted, says Stuart Ishimaru, head of the Consumer Financial Protection Bureau's diversity office, because diverse companies will fare better in the long run. "There's certainly a thought that if you have a more diverse workforce and if you have a more diverse group of suppliers, that institutions very well could do a better job understanding a more diverse marketplace," he said.

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