Title 12, Banks and BankingRelease 119-110
§1833e Equal Opportunity
Title 12 › CHAPTER 16 — FEDERAL DEPOSIT INSURANCE CORPORATION › § 1833e
Summary
Requires several federal banking agencies to follow the equal-employment rules of Executive Order 11478. The Comptroller of the Currency, the Federal Housing Finance Agency, and the Federal Deposit Insurance Corporation must follow the order. The Federal Home Loan Banks, the Federal National Mortgage Association, and the Federal Home Loan Mortgage Corporation must follow its affirmative equal-opportunity program rules. The FDIC, the Comptroller, and the Federal Housing Finance Agency must create rules for a minority outreach program so women, minorities, and businesses they own (for example banks, investment firms, underwriters, accountants, and law firms) are included as contractors when the agencies manage institutions or do other allowed work. Within 180 days after August 9, 1989, each of these five agencies — the FDIC; the Comptroller of the Currency; the Federal Housing Finance Board; the Federal Home Loan Mortgage Corporation; and the Federal National Mortgage Association — must send Congress a report describing what they did under these rules and any recommendations for further action.
Full Legal Text
Title 12, §1833e
Banks and Banking, Source: USLM XML via OLRC
(a)In general
For purposes of this Act, Executive Order Numbered 11478, providing for equal employment opportunity in the Federal Government, shall apply to—
(1)the Comptroller of the Currency;
(2)the Federal Housing Finance Agency; and
(3)the Federal Deposit Insurance Corporation.
(b)Affirmative program for equal employment opportunity
(c)Solicitation of contracts
The Federal Deposit Insurance Corporation, the Comptroller of the Currency, and the Federal Housing Finance Agency, shall each prescribe regulations to establish and oversee a minority outreach program within each such agency to ensure inclusion, to the maximum extent possible, of minorities and women, and entities owned by minorities and women, including financial institutions, investment banking firms, underwriters, accountants, and providers of legal services, in all contracts entered into by the agency with such persons or entities, public and private, in order to manage the institutions and their assets for which the agency is responsible or to perform such other functions authorized under any law applicable to such agency.
(d)Report to Congress
Before the end of the 180-day period beginning on August 9, 1989—
(1)the Federal Deposit Insurance Corporation;
(2)the Comptroller of the Currency;
(3)the Federal Housing Finance Board;
(4)the Federal Home Loan Mortgage Corporation; and
(5)the Federal National Mortgage Association,
shall each submit to the Congress a report containing a complete description of the actions taken by such agency pursuant to subsections (a) and (b) and such recommendations for administrative and legislative action as each such agency may determine to be appropriate to carry out the purposes of such subsection.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
This Act, referred to in subsecs. (a) and (b), is Pub. L. 101–73, Aug. 9, 1989, 103 Stat. 183, known as the Financial Institutions Reform, Recovery, and
Enforcement
Act of 1989. For complete classification of this Act to the Code, see
Short Title
of 1989 Amendment note set out under section 1811 of this title and Tables. Executive Order Numbered 11478, referred to in subsecs. (a) and (b), is set out as a note under section 2000e of Title 42, The Public Health and Welfare. Codification Section was enacted as part of the Financial Institutions Reform, Recovery, and
Enforcement
Act of 1989, and not as part of the Federal Deposit Insurance Act which comprises this chapter. Pub. L. 110–289, div. A, title II, § 1216(g), which directed amendment of section 1216 of the “Financial Institutions Reform, Recovery, and Enhancement Act of 1989”, was executed to this section, which is section 1216 of the Financial Institutions Reform, Recovery, and
Enforcement
Act of 1989, to reflect the probable intent of Congress. See 2008 Amendment notes below.
Amendments
2010—Subsec. (a)(2). Pub. L. 111–203, § 367(9)(A)(iii), (iv), redesignated par. (3) as (2) and struck out former par. (2) which read as follows: “the Director of the Office of Thrift Supervision;”. Subsec. (a)(3). Pub. L. 111–203, § 367(9)(A)(iv), redesignated par. (4) as (3). Former par. (3) redesignated (2). Pub. L. 111–203, § 367(9)(A)(i), inserted “and” at the end. Subsec. (a)(4). Pub. L. 111–203, § 367(9)(A)(iv), redesignated par. (4) as (3). Pub. L. 111–203, § 367(9)(A)(ii), substituted a period for the semicolon at the end. Subsec. (a)(5), (6). Pub. L. 111–203, § 367(9)(A)(iii), struck out pars. (5) and (6) which read as follows: “(5) the Thrift Depositor Protection Oversight Board of the Resolution Trust Corporation; and “(6) the Resolution Trust Corporation.” Subsec. (c). Pub. L. 111–203, § 367(9)(B), substituted “and the Federal Housing Finance Agency,” for “the Director of the Office of Thrift Supervision, the Federal Housing Finance Agency, the Thrift Depositor Protection Oversight Board of the Resolution Trust Corporation, and the Resolution Trust Corporation”. Subsec. (d)(3) to (8). Pub. L. 111–203, § 367(9)(C), redesignated pars. (4), (7), and (8) as (3) to (5), respectively, and struck out former pars. (3), (5), and (6) which read as follows: “(3) the Director of the Office of Thrift Supervision; “(5) the Thrift Depositor Protection Oversight Board of the Resolution Trust Corporation; “(6) the Resolution Trust Corporation;”. 2008—Subsec. (a)(3). Pub. L. 110–289, § 1216(g)(1), added par. (3) and struck out former par. (3) which read as follows: “the Federal home loan banks;”. See Codification note above. Subsec. (b). Pub. L. 110–289, § 1216(g)(2), substituted “Federal Home Loan Banks, the Federal National Mortgage Association,” for “Federal National Mortgage Association”. See Codification note above. Subsec. (c). Pub. L. 110–289, § 1216(g)(3), substituted “Finance Agency” for “Finance Board”. See Codification note above.
Statutory Notes and Related Subsidiaries
Change of Name
Oversight Board redesignated Thrift Depositor Protection Oversight Board, effective Feb. 1, 1992, see section 302(a) of Pub. L. 102–233, formerly set out as a note under section 1441a of this title. Thrift Depositor Protection Oversight Board abolished, see section 14(a)–(d) of Pub. L. 105–216, formerly set out as a note under section 1441a of this title.
Effective Date
of 2010 AmendmentAmendment by Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.
Reference
Citations & Metadata
Citation
12 U.S.C. § 1833e
Title 12, Banks and Banking
Last Updated
Sep 22, 2026
Release point: 119-110