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Govt Consumer Protection Bureau Turns Attention to Minority and Women’s Issues

May 3rd, 2012 · No Comments · Consumer Info

by Kristy Welsh

(Last Updated On: February 26, 2018)

I continue to be impressed by the development of the Consumer Financial Protection Bureau (CFPB). From its scrutiny of bank overdraft fees, to its proposal of new rules to favor homeowners over mortgage servicers, the CFPB certainly seems to be the proactive, pro-consumer organization we want and need it to be. Case in point: the recent appointment of a director to oversee minority and women’s rights, within the Bureau and throughout the financial services industry.

Appointed as Director of the Office of Minority and Women Inclusion is Stuart Ishumaru. In addition to his most recent 9-year stint at the Equal Employment Opportunity Commission (appointed acting chairman in 2009), Ishumaru has also served as Acting Staff Director of the U.S. Commission on Civil Rights, and Deputy Assistant Attorney General at the Department of Justice in its Civil Rights Division.

This week, Ishumaru formally introduced himself on the CFPB blog:

Some people fall into their line of work and others know exactly what they want early on. I think I’m a bit of both. Years ago I saw an opportunity to do great work for Americans who are often underrepresented and underserved. It has been my passion to work to ensure that those people have a voice and fair access to opportunities. I believe that equal opportunities, diversity, and inclusion are what make this country thrive – they are what make us great.

As Director of this division, it is Ishumaru’s job to ensure that the Office of Minority and Woman Inclusion stay on track with is core responsibilities of:

  • Developing and implementing standards of equal employment
  • Developing standards for assessing the diversity policies and practices of
    CFPB-regulated entities
  • Advising on the impact of Bureau policies and regulations on minority and women-owned businesses
  • Coordinating with the Director to create and implement solutions to civil rights violations

For more about this new division and the CFPB in general, go to the official website at ConsumerFinance.gov.

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