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Fox News - House Dems push legislation requiring banks to receive critical 'diversity and inclusion' rating

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House Dems push legislation requiring banks to receive critical 'diversity and inclusion' rating.

 

House Democrats are proposing that all banks and credit unions receive a new "diversity and inclusion" rating in an unprecedented step that would fundamentally alter federal regulators' critical "CAMELS" rating system that currently employs a series of metrics that solely assess the financial health of banking institutions.

 

The "Promoting Diversity and Inclusion in Banking Act of 2019" is draft legislation supported by Democrats on the House Subcommittee on Diversity and Inclusion, which was created by House Financial Services Committee chairwoman Maxine Waters Rep. Maxine Waters, D-Calif. Waters has long pushed for government-led diversity efforts, even as Republicans have challenged her knowledge of fundamental economic issues.

 

"We need to change it and we need to change it right away. The excuse that we can’t find any, that’s what I’m hearing from some of you, that’s not acceptable," Rep. Al Green, D-Texas, said at a Wednesday hearing held by the subcommittee. "When you have power, you have to use it. We have the power. Regulations may be the thing to do. I think the carrot was a good idea, but after having heard some things today, I think we have to move to the stick, that’s regulations.”

 

The CAMELS system, known as the Uniform Financial Institutions Rating System, assesses banks' (c)apital adequacy; (a)ssets; (m)anagement capability; (e)arnings; (l)iquidity; and (s)ensitivity to market risk, each on a scale of 1 to 5.

 

All of those categories involve financial information, and the CAMELS rating is then used by federal authorities that oversee and regulate banks; a failing CAMELS score is considered so significant that it is ordinarily hidden from public view to avoid a run on the bank involved.

 

But, the new bill proposes to amend the Dodd-Frank Wall Street Reform and Consumer Protection Act so that the CAMELS system adds an additional diversity category for the "Board of Governors, the Comptroller of the Currency, the Corporation, and the National Credit Union" to analyze.

 

Specifically, the new category looks at whether depository institutions have policies to "encourage diversity and inclusion" in hiring practices; whether they train employees on diversity and inclusion; and whether they have a "Diversity and Inclusion officer" who reports to the CEO.

 

Any "equivalent rating by any such agency under a comparable rating system" should also have a diversity score, the bill states.

 

The proposal isn't the first similar bill to be considered by Waters' subcommittee on diversity. Last June, the panel met in a hearing entitled, "Diverse Asset Managers: Challenges, Solutions and Opportunities for Inclusion," and released a draft of a bill called the ‘‘Diverse Asset Managers Act.” 

 

A draft of the legislation stated that "conscious efforts to facilitate diverse and inclusive asset management firm selection are required to overcome obstacles facing diverse individual-owned and controlled asset management firms."

 

The law would mandate that asset management firms publish a request for services in "print and online publications oriented towards women, minorities, and veterans," to consider at least one of these firms that submits a proposal, and if one of these firms submits a proposal that "satisfies the criteria set forth in request for proposal, to invite at least one such diverse individual-owned and controlled asset management firm to present their proposal to the person."

 

Each firm also would need to report to the government on their efforts to hire minority-owned asset management firms.

 

The bills stand little passage of becoming law given the current composition of the House and Senate, but Democratic leaders have left little doubt that they would pursue the measures should the composition of Congress change. Speaking in June 2018, Waters underscored her commitment to diversity by seemingly suggesting that her efforts to help the technology sector were conditioned on diversity programs there.

 

“I have a question that I would like to propose," Waters began. "But before I do that, since you mentioned Silicon Valley, I too, was there recently. I was appalled at the lack of diversity. I know that there are a number of organizations, civil rights organizations that have been working very hard to increase participation of minorities and women in the Silicon Valley businesses."

 

Waters added: "They have not done very well, and of course I would be anxious to be of assistance to them in making sure that we could reduce the costs and reduce the hassle of becoming IPOs. But we certainly must take into consideration whether or not these companies are developing, understanding that some of us are going to be focused on diversity in those companies.”

 

Democrats' efforts appeared to be yielding results. In January, Goldman Sachs Group Inc. Chief Executive Officer David Solomon declared that Goldman "will no longer take a company public in the U.S. and Europe if it lacks a director who is either female or diverse."

 

Fox News' "Tucker Carlson Tonight" investigative producer Alex Pfeiffer contributed to this report.

 

Gregg Re is a lawyer and editor based in Los Angeles. Follow him on Twitter @gregg_re or email him at gregory.re@foxnews.com.

 

https://www.foxnews.com/politics/house-dems-push-legislation-adding-diversity-index-to-banks-key-financial-metrics

 

*****/END OF THE ARTICLE\****

 

The same people who are calling the POTUS a "Dictator" and "Authoritarian" throw CRAPPY legislative, gobbledygook like this together.

 

Like I have said...the Democrats don't even hide their true feelings and intentions any more...they just put it all out there for everyone to see.

 

Indy

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It is interesting how people are against equality and diversity. And those people are usually white. Here's the funny thing. In the not too distant future white people are going to be the minority... Think about that for a minute. The time is coming quickly, where white people are going to be crying for equality and diversity... Once again, I'm happy to say I'm old and won't have to live in the future... That old cliche comes to mind.... "Payback's a *****"

 

B/A

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16 minutes ago, bostonangler said:

It is interesting how people are against equality and diversity. And those people are usually white. Here's the funny thing. In the not too distant future white people are going to be the minority... Think about that for a minute. The time is coming quickly, where white people are going to be crying for equality and diversity... Once again, I'm happy to say I'm old and won't have to live in the future... That old cliche comes to mind.... "Payback's a *****"

 

B/A

 

Sounds like a racist statement to me...

 

Indy

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4 minutes ago, Indraman said:

 

Sounds like a racist statement to me...

 

Indy

 

It's the truth... Populations change... Majorities become minorities...And vice versa...

 

 

 

The U.S. Census Bureau’s release of race and age statistics for 2017 points to two noteworthy milestones about the nation’s increasingly aging white and growing diverse population. First, for the first time since the Census Bureau has released these annual statistics, they show an absolute decline in the nation’s white non-Hispanic population—accelerating a phenomenon that was not projected to occur until the next decade.

Second, the new numbers show that for the first time there are more children who are minorities than who are white, at every age from zero to nine. This means we are on the cusp of seeing the first minority white generation, born in 2007 and later, which perhaps we can dub Generation “Z-Plus.”

Together these new data suggest that a signature feature of U.S. demographic change in the 21st century is the aging and decline of the white population, along with population growth among young minorities to counterbalance the trend.

White population decline

America’s white population has been increasing since the first census was taken in 1790. Table 1 shows the change in the non-Hispanic white population using data from the censuses of 1970 to 2010, and annual population estimates for 2011 to 2017, based on the recent release. These new numbers show, for the first time, an absolute decline in the nation’s white population of more than 9,000 whites between 2015 and 2016 and more than 31,000 whites between 2016 and 2017. (These new estimates revised earlier census estimates, which showed white gains between 2015 and 2016.)

Table 1

Although these annual white declines are extremely modest (of -0.005 and -0.016 percent in 2015-16 and 2016-17, respectively), they are an early harbinger of the long-term trend that the Census Bureau projected previously this year. Those projections showed the white population declining after 2023.

This is indicative of a general aging of the white population, which means proportionately fewer white women in their childbearing years, and an excess of deaths over births (a natural decrease). The recent downsizing of the white population could reflect post-recession-related fertility declines in the white population, leading to an inflation of white natural decrease to its highest levels of the last six years. The past year also showed a downturn in white immigration.

 

https://www.brookings.edu/blog/the-avenue/2018/06/21/us-white-population-declines-and-generation-z-plus-is-minority-white-census-shows/?gclid=CjwKCAiAp5nyBRABEiwApTwjXuF9tJ-ESjvYWiGoUoQ3qlWYO9vbppXbx7OHzMu4Ifw0AZtdeDesiBoCvSUQAvD_BwE

 

B/A

Edited by bostonangler
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11 minutes ago, bostonangler said:

 

It's the truth... Populations change... Majorities become minorities...And vice versa...

 

B/A

 

QUOTE: "It is interesting how people are against equality and diversity. And those people are usually white."

 

Why the above statement is racist? 

 

ANSWER: To imply motive for why someone might be opposed to the proposed legislation based solely on skin color is the definition of a 'Racist'! Sorry, but this just is!

 

To not allow other reasons as to why someone might oppose this CRAPPY legislation, like say, "we don't need the Government running every aspect of our lives", might be a good reason.

 

But instead, assuming and jumping to skin color...makes me think we might have a closet racist among the bunch.

 

Indy

Edited by Indraman
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1 minute ago, Indraman said:

 

QUOTE: "It is interesting how people are against equality and diversity. And those people are usually white."

 

Why the above statement is racist? 

 

ANSWER: To imply motive for why someone might be opposed to the proposed legislation based solely on skin color is the definition of a 'Racist'! Sorry, but this just is!

 

To not allow other reasons as to why someone might oppose this CRAPPY legislation, like say, "we don't need the Government running every aspect of our lives", might be a good reason.

 

But instead, assuming and jumping to skin color...makes me think we might have a closet racist among the bunch.

 

Indy

 

I wasn't speaking about that specific piece of legislation... I was speaking in terms of humanity... Things change and the effects change with them. My point is in the future, white people who don't understand the struggles of being in the minority are going to find out what it is like. Surely you have known people who didn't get the job or didn't get recognition because their race, color or ethnic background. In my professional life I have seen the better person not promoted or be recognized because of someone judging them on their skin color, religious belief, etc... I was simply pointing out that the time will come when the roles are reversed and perhaps those people will understand their ignorance. That's all.

 

B/A

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59 minutes ago, Indraman said:

From Indy's post:

 

 

"We need to change it and we need to change it right away. The excuse that we can’t find any, that’s what I’m hearing from some of you, that’s not acceptable," Rep. Al Green, D-Texas, said at a Wednesday hearing held by the subcommittee. "When you have power, you have to use it. We have the power. Regulations may be the thing to do. I think the carrot was a good idea, but after having heard some things today, I think we have to move to the stick, that’s regulations.”

 

 

This is what it is about.

 

Power. They have it and want to use it to effect social experiments with monetary means. 

People aren't responding to the carrot so use the stick.

 

Trouble is when you start using the stick on people they tend to fight back.

 

 

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15 minutes ago, bostonangler said:

 

I wasn't speaking about that specific piece of legislation... I was speaking in terms of humanity... Things change and the effects change with them. My point is in the future, white people who don't understand the struggles of being in the minority are going to find out what it is like. Surely you have known people who didn't get the job or didn't get recognition because their race, color or ethnic background. In my professional life I have seen the better person not promoted or be recognized because of someone judging them on their skin color, religious belief, etc... I was simply pointing out that the time will come when the roles are reversed and perhaps those people will understand their ignorance. That's all.

 

B/A

 

I have also seen what you have described and acknowledge that it still happens.

 

But I have seen the opposite happen as well, as a result of so-called "diversity" programs, - the lesser qualified candidate gets promoted solely because of skin color, sex, or sexual preference. This is where I draw the line and say that Government Policy has overstepped its usefulness. We live in a society where in general, people want to do the right thing. We don't need BIG Government telling us how to live our lives.

 

Indy

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1 minute ago, Indraman said:

 

I have also seen what you have described and acknowledge that it still happens.

 

But I have seen the opposite happen as well, as a result of so-called "diversity" programs, - the lesser qualified candidate gets promoted solely because of skin color, sex, or sexual preference. This is where I draw the line and say that Government Policy has overstepped its usefulness. We live in a society where in general, people want to do the right thing. We don't need BIG Government telling us how to live our lives.

 

Indy

 

I completely agree, people abuse the system that is designed to help... I guess our grand kids and their kids will be the ones taking advantage when the time comes... Like I said, I'm glad I'm old and will not be here when everything changes... Be it the minority thing, or when Atlanta becomes beachfront property, or there are no polar bears, or the dollar is no longer the reserve currency. I am grateful to have lived in the greatest of times... The best Rock N Roll. Personal freedoms. Neighbors who knew one another. The right to smoke in a bar. There so many things our kids and grand kids will never have the joy of experiencing, that we old folks got to enjoy.

 

B/A

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1 minute ago, coorslite21 said:

Wonder where Bloombergs "redlining" comments fit into all of this.....

CL 

 

That's an issue he will definitely have to address if he wants to buy the nomination.....I would say he's living rent free in Donald's head right now....but it's actually cost him over a quarter billion to rent that large empty brain cavity.  :lol:  "carnival barking clown"....classic.  :lol:

 

GO RV, then BV

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5 minutes ago, Shabibilicious said:

 

That's an issue he will definitely have to address if he wants to buy the nomination.....I would say he's living rent free in Donald's head right now....but it's actually cost him over a quarter billion to rent that large empty brain cavity.  :lol:  "carnival barking clown"....classic.  :lol:

 

GO RV, then BV

 

$250 Billion to live in Trumps large empty brain cavity.....you are correct......"classic"

CL

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1 minute ago, coorslite21 said:

 

$250 Billion to live in Trumps large empty brain cavity.....you are correct......"classic"

CL

 

Nothing drives Trump crazier than a person worth so much more money than himself....He has the same sort of hate for Bezos also....Imagine how nuts Donald would be if Bloomberg were a woman with all that dough.  :lol:

 

GO RV, then BV

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1 hour ago, bostonangler said:

It is interesting how people are against equality and diversity. And those people are usually white. Here's the funny thing. In the not too distant future white people are going to be the minority... Think about that for a minute. The time is coming quickly, where white people are going to be crying for equality and diversity... Once again, I'm happy to say I'm old and won't have to live in the future... That old cliche comes to mind.... "Payback's a *****"

 

B/A

 

In Brazil ( now more racist than before due to Pres.Bolsonaro)  it so happens that the so-called minority of black and mulatto People is instead already a ( slight) majority in the Country.....

 

Brazil was at the time the (Portuguese) colony which got the highest number of slaves from Africa , second only to the US

Edited by umbertino
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Just now, umbertino said:

 

In Brazil ( now more racist than before due to Pres.Bolsonaro)  it so happens that the so-called minority of black and mulatto People is instead already a ( slight) majority in the Country.....

 

Yup people seem to think everything stays the same, but as they say "The only thing constant.... Is change.

 

B/A

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2 minutes ago, Shabibilicious said:

 

Nothing drives Trump crazier than a person worth so much more money than himself....He has the same sort of hate for Bezos also....Imagine how nuts Donald would be if Bloomberg were a woman with all that dough.  :lol:

 

GO RV, then BV

 

I see your point......so what about Putin......he has more wealth than Bezos and Bloomberg combined.....yet we're told Trump loves him....

CL

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4 minutes ago, coorslite21 said:

 

I see your point......so what about Putin......he has more wealth than Bezos and Bloomberg combined.....yet we're told Trump loves him....

CL

 

It's a proven fact Russia interfered in our 16' election to help Donald become pOTUS.....of course he loves Putin.  

 

GO RV, then BV

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8 minutes ago, coorslite21 said:

 

I see your point......so what about Putin......he has more wealth than Bezos and Bloomberg combined.....yet we're told Trump loves him....

CL

 

Personally I believe Trump loves Trump... Nothing more or nothing less. Putin just happens to help Trump be Trump. Like everyone in his life, the day will come when bashes Putin... It's kind of a common thread through his life.

 

B/A

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1 hour ago, bostonangler said:

 

It's the truth... Populations change... Majorities become minorities...And vice versa...

 

 

 

The U.S. Census Bureau’s release of race and age statistics for 2017 points to two noteworthy milestones about the nation’s increasingly aging white and growing diverse population. First, for the first time since the Census Bureau has released these annual statistics, they show an absolute decline in the nation’s white non-Hispanic population—accelerating a phenomenon that was not projected to occur until the next decade.

Second, the new numbers show that for the first time there are more children who are minorities than who are white, at every age from zero to nine. This means we are on the cusp of seeing the first minority white generation, born in 2007 and later, which perhaps we can dub Generation “Z-Plus.”

Together these new data suggest that a signature feature of U.S. demographic change in the 21st century is the aging and decline of the white population, along with population growth among young minorities to counterbalance the trend.

White population decline

America’s white population has been increasing since the first census was taken in 1790. Table 1 shows the change in the non-Hispanic white population using data from the censuses of 1970 to 2010, and annual population estimates for 2011 to 2017, based on the recent release. These new numbers show, for the first time, an absolute decline in the nation’s white population of more than 9,000 whites between 2015 and 2016 and more than 31,000 whites between 2016 and 2017. (These new estimates revised earlier census estimates, which showed white gains between 2015 and 2016.)

Table 1

Although these annual white declines are extremely modest (of -0.005 and -0.016 percent in 2015-16 and 2016-17, respectively), they are an early harbinger of the long-term trend that the Census Bureau projected previously this year. Those projections showed the white population declining after 2023.

This is indicative of a general aging of the white population, which means proportionately fewer white women in their childbearing years, and an excess of deaths over births (a natural decrease). The recent downsizing of the white population could reflect post-recession-related fertility declines in the white population, leading to an inflation of white natural decrease to its highest levels of the last six years. The past year also showed a downturn in white immigration.

 

https://www.brookings.edu/blog/the-avenue/2018/06/21/us-white-population-declines-and-generation-z-plus-is-minority-white-census-shows/?gclid=CjwKCAiAp5nyBRABEiwApTwjXuF9tJ-ESjvYWiGoUoQ3qlWYO9vbppXbx7OHzMu4Ifw0AZtdeDesiBoCvSUQAvD_BwE

 

B/A

 

 

Exactly

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5 minutes ago, Shabibilicious said:

 

It's a proven fact Russia interfered in our 16' election to help Donald become pOTUS.....of course he loves Putin.  

 

GO RV, then BV

Okay Shabs,  I’ll give it a shot here !!! 

Every thing you post is only about Trump 

so let’s try bringing in some positivity to your posts.,,,   Tell us who you think out of all the candidates that are running ... who you believe can do  GOOD for our country and why ... maybe some real conversations could be had then 

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22 minutes ago, bostonangler said:

 

Yup people seem to think everything stays the same, but as they say "The only thing constant.... Is change.

 

B/A

 

Holy words, B/A...

 

What supposedly stays forever are only death and taxes ( but we can work on the latter)

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19 minutes ago, Shelley said:

Okay Shabs,  I’ll give it a shot here !!! 

Every thing you post is only about Trump 

so let’s try bringing in some positivity to your posts.,,,   Tell us who you think out of all the candidates that are running ... who you believe can do  GOOD for our country and why ... maybe some real conversations could be had then 

 

Well the economy is kicking and has been on an upward trajectory for the last decade, so we're good there until the bubble bursts....which always happens at some point.  So with that said, any of the Democratic candidates is better than Donald, in my view, simply for the treatment of fellow human beings, which is sure to improve countrywide immensely.  Health care is a big issue, as Donald only seems to want to dismantle it, rather than improve it.  Bernie scares the hell out of me, and Warren is also a bit radical for me.  Uncle Joe is showing his anger and frustration which is unappealing.  That leaves Mayor Pete, Sen. Klobuchar, Bloomberg and Gabbard.  I'm leaning toward Mayor Pete at this point, but Mike Bloomberg is surging....Klobuchar has a checkered past with her staff as a boss, so that's a turn off, as we don't need another hot head narcissist running this country.  And Gabbard seems to be moving further to the Right everyday.  There you have it.....my thoughts on the Democratic candidates. 

 

GO RV, then BV

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