Affirmative Action Requirements for Financial Institutions as the 2020 Elections Loom
This webinar will cover the affirmative action compliance obligations that impact banks, including compliance obligations under Executive Order 11246 (affirmative action for women and minorities), Section 503 of the Rehabilitation Act of 1973 (affirmative action for individuals with disabilities), VEVRAA (affirmative action for protected veterans), and Executive Order 13672 (prohibiting discrimination on the basis of sexual orientation and gender identity). The webinar will drill down into the most recent developments and focus on the steps that financial institutions must take to meet their compliance obligations.
While the Trump Administration has provided some limited regulatory relief during its nearly three years in office, the Labor Department’s Office of Federal Contract Compliance Programs still insists that FDIC- and NCUA-insured financial institutions continue full compliance. In the agency’s own words, “Financial institutions with federal share and deposit insurance are considered to be government contractors within the meaning of the regulations implementing Executive Order 11246, … the Vietnam Era Veterans’ Readjustment Assistance Act of 1974 (VEVRAA), … 38 U.S.C. 4212 and Section 503 of the Rehabilitation Act of 1973 (Section 503). These three programs, enforced by the Office of Federal Contract Compliance Programs (OFCCP), require equal employment opportunity by government contractors.”
Please join Jim Castagenera as he covers the affirmative action compliance obligations that impact banks and credit unions, captures all the most recent developments, and focuses on the steps that your institution must take to meet these current compliance obligations. Emphasis is on the practical steps necessary to meet your legal obligations and avoid an OFCCP audit.
Some of the questions that will be answered include:
- Why are banks and credit unions subject to federal-contractor affirmative action obligations? What does this mean for you?
- What are the general compliance obligations under Executive Order 11246, Section 503, VEVRAA, and Executive Order 13672?
- How are compliance obligations different for banks and credit unions that have 50 or more employees?
- What are the specific steps that a bank or credit union must take to comply with the new Section 503 and VEVRAA rules?
- What are the risks of failing to comply with these affirmative action rules for federal contractors? Who does OFCCP audit ad why?
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