from the non-partisan Government Accountability Offi ces points to the lack of diversity within the fi nancial services industry, with virtually no improvement at the management level from 1993 to 2008. The lack of contracting opportu- nities for minority- and women-owned businesses through programs like the TARP has also been documented. The provision is designed to broaden and improve the workforce of these agen- cies and expand opportunities for our nation’s small businesses—including minority- and women-owned busi- nesses—to participate in programs and contracts instead of continuing to
rely on the same handful of Wall Street fi rms responsible for the crisis in the fi nancial markets.
D&B: WHAT’S THE STATUS NOW? HOW MANY AGENCIES HAVE ALREADY HIRED DIVERSITY DIRECTORS? WHERE WOULD YOU LIKE TO SEE THINGS PROG- RESS IN A YEAR? The Dodd-Frank reform bill required that all of the government’s fi nan- cial agencies, except for the new Consumer Financial Protection Bureau, set up their [Minority and Women Inclusion] Offi ces by January
21. I’m happy to report progress is underway. The National Credit Union Administration, the Offi ce of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Federal Reserve Board of Governors, and the Federal Reserve Banks have set up offi ces and hired directors. Other agencies are in the process of setting up offi ces. In a year, I expect all offi ces to be established and to see a dramatic, yet positive, change in how our fi nancial services agencies interact with quali- fi ed minorities, women, and minority- and women-owned businesses.
41
dedication
McGuireWoods LLP is dedicated to expanding diversity in the legal profession. One aspect of this is our commitment to promoting and hiring talented lawyers of color who provide our clients with excellent legal skills. We are proud that six of our newest partners reflect this commitment, and we congratulate them on their achievements.
Halima Horton Yuan-Ying Hsu Gary Leung
Michelle Lipkowitz Naho Kobayashi Rajsekhar Nataragan
Jacquelyn E. Stone, Firmwide Hiring Partner and Diversity Committee Member 804.775.1046
jstone@mcguirewoods.com
One James Center 901 East Cary Street Richmond, Virginia 23219
900 Lawyers | 19 Offices |
www.mcguirewoods.com
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