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CFPB Report Aims to Promote Mortgage Industry Diversity, Inclusion
A CFPB report released Thursday, April 27, 2017, summarized strategies for promoting diversity and inclusion used by mortgage industry participants. The Bureau highlights the business case for diversity along with current approaches and practices used in the mortgage industry, such as establishing buy-in from top leadership, integrating principles of inclusion in recruiting and hiring, and the importance of data in assessing the impact of diversity on keeping organizations competitive. The CFPB’s report was created in collaboration with the financial services industry to raise awareness of the importance of strengthening diversity and inclusion within organizations.
“The Consumer Bureau’s mission is to protect all consumers across the diverse American marketplace, just as financial institutions seek to serve them with helpful products and services,” said CFPB Director Richard Cordray. "The insights in this report from our roundtable with mortgage lenders help to show the advantages of integrating diversity and inclusion programs in workplaces throughout the financial services industry."