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 Director of the Office of Thrift Supervision;

(3) the Federal Housing Finance Agency;

(4) the Federal Deposit Insurance Corporation;

(5) the Thrift Depositor Protection Oversight Board of the Resolution Trust Corporation; and

(6) the Resolution Trust Corporation.

For purposes of this Act, sections 1 and 2 of Executive Order Numbered 11478, providing for the adoption and implementation of equal employment opportunity, shall apply to the Federal Home Loan Banks, the Federal National Mortgage Association, and the Federal Home Loan Mortgage Corporation.

The Federal Deposit Insurance Corporation, the Comptroller of the Currency, 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 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.

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 Director of the Office of Thrift Supervision;

(4) the Federal Housing Finance Board;

(5) the Thrift Depositor Protection Oversight Board of the Resolution Trust Corporation;

(6) the Resolution Trust Corporation;

(7) the Federal Home Loan Mortgage Corporation; and

(8) 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) of this section 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.

(Pub. L. 101–73, title XII, §1216, Aug. 9, 1989, 103 Stat. 529; Pub. L. 102–233, title III, §302(a), Dec. 12, 1991, 105 Stat. 1767; Pub. L. 110–289, div. A, title II, §1216(g), July 30, 2008, 122 Stat. 2793; Pub. L. 111–203, title III, §367(9), July 21, 2010, 124 Stat. 1557.)

Pub. L. 111–203, title III, §§351, 367(9), July 21, 2010, 124 Stat. 1546, 1557, provided that, effective on the transfer date, this section is amended:

(1) in subsection (a)—

(A) in paragraph (3), by inserting “and” at the end;

(B) in paragraph (4), by substituting a period for the semicolon at the end;

(C) by striking out paragraphs (2), (5), and (6); and

(D) by redesignating paragraphs (3) and (4), as (2) and (3), respectively;

(2) in subsection (c)—

(A) by substituting “and” for “the Director of the Office of Thrift Supervision,”; and

(B) by striking out “the Thrift Depositor Protection Oversight Board of the Resolution Trust Corporation, and the Resolution Trust Corporation”; and

(3) in subsection (d)—

(A) by striking out paragraphs (3), (5), and (6); and

(B) by redesignating paragraphs (4), (7), and (8) as (3) to (5), respectively.

See Effective Date of 2010 Amendment note below.

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.

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.

**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.

Oversight Board redesignated Thrift Depositor Protection Oversight Board, effective Feb. 1, 1992, see section 302(a) of Pub. L. 102–233, 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, set out as a note under section 1441a of this title.

Amendment 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.