As the U.S. workforce has become increasingly diverse, many private- and public-sector entities recognize the importance of recruiting and retaining minorities and women for management-level positions to improve their business. The 2007-2009 financial crisis has renewed questions about commitment within the financial services industry (e.g., banking and securities) to workforce diversity. The Dodd-Frank Act required that eight federal financial agencies and the Federal Reserve Banks implement provisions to support workforce and contractor diversity. This book reviews the trends and practices implemented since the beginning of the financial crisis and examines (1) workforce diversity in the financial services industry, the federal financial agencies, and Reserve Banks from 2007 through 2011 and (2) the efforts of the agencies and Reserve Banks to implement workforce diversity practices under the Dodd-Frank Act, including contracting.
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