12 USC 1833e – Equal opportunity
(a) In general
For purposes of this Act, Executive Order Numbered 11478, providing for equal employment opportunity in the Federal Government, shall apply to—
(1) the Comptroller of the Currency;
(2) the Federal Housing Finance Agency; and
(3) the Federal Deposit Insurance Corporation.
(b) Affirmative program for equal employment opportunity
Terms Used In 12 USC 1833e
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- deposit: means &mdash. See 12 USC 1813
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
For purposes of this Act, sections 1 and 2 of Executive Order Numbered 11478, providing for the adoption and implementation of equal employment opportunity, shall apply to the Federal Home Loan Banks, the Federal National Mortgage Association, and the Federal Home Loan Mortgage Corporation.
(c) Solicitation of contracts
The Federal Deposit Insurance Corporation, the Comptroller of the Currency, and the Federal Housing Finance Agency, shall each prescribe regulations to establish and oversee a minority outreach program within each such agency to ensure inclusion, to the maximum extent possible, of minorities and women, and entities owned by minorities and women, including financial institutions, investment banking firms, underwriters, accountants, and providers of legal services, in all contracts entered into by the agency with such persons or entities, public and private, in order to manage the institutions and their assets for which the agency is responsible or to perform such other functions authorized under any law applicable to such agency.
(d) Report to Congress
Before the end of the 180-day period beginning on August 9, 1989—
(1) the Federal Deposit Insurance Corporation;
(2) the Comptroller of the Currency;
(3) the Federal Housing Finance Board;
(4) the Federal Home Loan Mortgage Corporation; and
(5) the Federal National Mortgage Association,
shall each submit to the Congress a report containing a complete description of the actions taken by such agency pursuant to subsections (a) and (b) and such recommendations for administrative and legislative action as each such agency may determine to be appropriate to carry out the purposes of such subsection.