Diversity and Inclusion in the Mortgage Industry: Readout from an opening roundtable
On
November 16, 2016, the Bureau collaborated with the Mortgage Bankers
Association (MBA) to host a roundtable with mortgage industry representatives
to discuss diversity and inclusion initiatives and practices within their
organizations. Those taking part were
from institutions of varying size, market share, and market segments. The CFPB Office of Minority & Women Inclusion (OMWI) wanted to create an open
dialogue on best practices in diversity and inclusion in order to help
financial institutions create and sustain diverse and inclusive
organizations. Participants were able to
share their respective challenges and successes. They discussed various topics generally
associated with successful diversity and inclusion management practices, such
as the importance of buy-in from top leadership, the business case for
diversity and inclusion, the value of employee feedback through employee groups
and surveys, the impact of diversity on market share, and other topics.