Over the last several months we have all heard about the Dodd-Frank Act. The purpose of the act is to bring financial accountability to Wall Street and transparency to protect consumers.
However, a less well-known objective of the act is to create diversity accountability within the financial services sector, which has long suffered from criticisms of racial and gender exclusion. As noted by U.S. Rep. Maxine Waters when she presented the amendment that eventually became Section 342 of the act:
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