Maxine Waters and Financial Services Dems Will Push Corporate Diversity
As the 116th Congress kicks off, Committee Chairs are sharing what issues they and their colleagues will be pursuing. Congresswoman Maxine Waters (D-CA) -- the first woman and African American to serve as Chair of the House Financial Services Committee -- is planning to use her power to push for more diversity in corporate America. Politico reported that Waters may create a subcommittee to focus on the inclusion of more minorities and women. And subcommittee Chairs and senior members of Committee -- including Congressman Gregory Meeks (D-NY), who will also likely chair a subcommittee that oversees banks and regulators -- have bills ready for introduction that would force companies to disclose the gender and racial makeup of company boards. Meeks’ legislation, for example, would require public companies to “disclose to investors the gender, race and ethnicity of their board members.” Several of the Democrats interviewed by the outlet said companies and associations have already begun reaching out to them, and some have started hiring Capitol Hill staff with connections to Waters and others to prepare for the issue. Waters has said that promoting diversity in financial services is one of her top priorities. We’ll keep you posted. More here.