Category: Industry and markets
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.