Capital markets regulation; corporate boards; self-regulatory organizations

(a) Repeal of Offices of Minority and Women Inclusion (1) In general Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5452) is repealed. (2) Technical and conforming amendments (A) Consumer Financial Protection Act of 2010 Section 1016(c) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5496(c)) is amended— (i) in paragraph (7), by adding and at the end; (ii) in paragraph (8), by striking; and and inserting a period; and (iii) by striking paragraph (9). (B) Dodd-Frank Wall Street Reform and Consumer Protection Act The table of contents for the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended by striking the item relating to section 342. (b) Boards of public companies subject to civil rights act Section 701 of the Civil Rights Act of 1964 (42 U.S.C. 2000e) is amended by adding at the end of subsection (f) the following: The term employee includes any person who serves on a board of directors of an issuer that has a registration statement in effect as to a security under the Securities Act of 1933 and is compensated by the issuer.. (c) Prohibition on racism (1) In general The Gramm-Leach-Bliley Act (Public Law 106–102) is amended by inserting after section 503 (15 U.S.C. 6803) the following: 503A. Prohibited diversity, equity and inclusion practices No Federal functional regulator shall engage in a prohibited diversity, equity, and inclusion practice (as defined in section 1201 of the Civil Rights Act of 1964) or require (whether by regulation, enforcement action, guidance, examination or otherwise) that any person regulated by the Federal functional regulator engage in a prohibited diversity, equity, and inclusion practice.. (2) Clerical amendment The table of contents for the Gramm-Leach-Bliley Act (Public Law 106–102) is amended by inserting after the item relating to section 503 the following: Sec. 503A. Prohibited diversity, equity and inclusion practices.. (d) National securities associations Section 15A of the Securities Exchange Act of 1934 (15 U.S.C. 78o–3) is amended by adding at the end the following: (o) Prohibited diversity, equity and inclusion practices No national securities association shall engage in a prohibited diversity, equity, and inclusion practice (as defined in section 1201 of the Civil Rights Act of 1964) or require (whether by rule, enforcement action, guidance, examination, or otherwise) that any member of the national securities association engage in a prohibited diversity, equity, and inclusion practice.. (e) Community Development Advisory Board member requirements Section 104(d)(2)(G) of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4703(d)(2)(G)) is amended, in the matter preceding clause (i), by striking and racial, ethnic, and gender diversity.