On October 5, 2021, Acting Comptroller of the Currency, Michael J. Hsu, spoke at the Women in Housing & Finance Public Policy Luncheon. In his speech, Hsu addressed the importance of diversity in a financial institution’s board of directors:
“Ultimately, we need to shift cultural expectations so that diversity and inclusion are the norm, not some distant aspiration. For the financial sector, this starts with improving transparency about the diversity of large bank boards of directors and executive leadership. We are also exploring and considering taking other steps, like encouraging banks to make it a practice to nominate or consider a diverse range of candidates or requiring institutions to either diversify their boards or explain why they have not.”
The full speech can be found here.