Understanding Dodd Frank Section 342: Diversifying Vendor Partnerships

Mention Dodd Frank 342 and you may get a blank stare, but it’s a regulation that needs some serious thought. The disproportionate impact of the economic downturn on diverse communities, minority- and women-owned businesses prompted legislators to seek stop gaps for future downturns. Congress passed Section 342 of the Dodd Frank Wall Street Reform and Consumer Protection Act creating the office of Minority and Women Inclusion (OMVI) in federal agencies that regulate the financial services i