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Government Watchdog Targets Wall Street Diversity

April 30, 2012
[ by Melanie Gretchen ] The Dodd-Frank Act has produced some unexpected results.  Besides the Volcker Rule, which has undergone mass criticism, the Dodd-Frank Act has created a diversity office to oversee the financial industry. Introducing the CFPB. The Consumer Financial Protection Bureau, which was also created by the Dodd-Frank Act, has hired a director for its Office of Minority and Women Inclusion.  Stuart J. Ishimaru, the former leader of the Equal Employment Opportunity Commission, was selected to lead the office, opened in January, focusing on promoting diversity at the bureau, its private contractors and the financial firms it oversees.  Besides a mix of Wall Street’s biggest banks, that includes obscure financial players like payday lenders and mortgage firms. For further details, go to [Dealbook, 4/30/12].