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Fannie Mae Recognized for Focus on Inclusion

Fannie Mae was named a top company for inclusion by the National Business Inclusion Consortium, a coalition formed by the National LGBT Chamber of Commerce, according to Fannie Mae.

This year’s fifth annual “Best-of-the-Best Corporations for Inclusion” cohort features corporations that across all communities in America are all in on diversity and inclusion. Internal, external, and supplier diversity efforts were among the categories upon which companies were evaluated.

“At Fannie Mae, we are proud to foster a diverse workforce that reflects the communities we serve,” said Jeffery Hayward, EVP and Chief Administrative Officer at Fannie Mae. “This recognition by NBIC is a great honor and we will continue our work to drive diversity and inclusion in both the workplace and the marketplace.”

Fannie Mae demonstrates its commitment to diversity and inclusion by attracting, engaging, and retaining a diverse workforce; attracting, developing, and promoting opportunities for diverse suppliers, vendors, and business partners, and fostering a diverse and inclusive workplace.

“The Best-of-the-Best designation honors corporations for their commitment to America’s diverse employees and business owners, which includes LGBT people, people of color, women, and people with disabilities,” said NGLCC Co-Founder and President Justin Nelson. “This designation is highly competitive and is bestowed only to corporations that we see constantly striving to strengthen and celebrate diversity. These corporations being honored are true leaders in ongoing global commitments to create a better future for all diverse communities in business.”

Accenture, ADP, Altria, American Airlines, and Anthem are among some other 2020 Best-of-the-Best Corporations for Inclusion. Additionally, the NBIC celebrated the five finalists for the Best-of-the-Best Program or Initiative of the Year Award including Cummins EY, Hilton, IBM, and Sodexo.

The House Financial Services Committee held a hearing earlier in the year to review data on diversity and inclusion within banking institutions in the U.S.

Chairwoman of the Financial Services Committee Maxine Waters (D-California) called the hearing “historic and groundbreaking.”

The 44 banks who submitted data have more than $50 billion in assets, and Waters said the information provided is essential to the industry.

“The information they have provided is illuminating and is something that the American public deserves to see,” she said.

Waters added that she hoped the hearing brings diversity “out of the shadows and into the light.”

The report found that banking institutions were 58% white in 2018, which was lower than the national average of 63%. African Americans made up 12% of the workforce populations of financial institutions, Hispanics accounted for 11%, and the Asian population was 12%.

About Author: Chuck Green

Chuck Green has contributed to the Wall Street Journal, Washington Post, Los Angeles Times, San Francisco Chronicle, Chicago Tribune and others covering various industries, including real estate, business and banking, technology, and sports
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