Why it exists: The Office of Minority and Women Inclusion (OMWI) was created to fulfill Dodd-Frank requirements relating to diversity, civil rights and the promotion of hiring minority and women candidates. The Act required that each government agency covered by Dodd-Frank create an Office of Minority and Women inclusion.

The OMWI provision was proposed by Congresswoman Maxine Waters (D-CA), who said in 2010 statement that she wrote the legislation "To make sure that federal financial regulatory agencies ensure diversity in their hiring and promotion, as well as in their contracting, so that competent and qualified minorities and women and minorities, women. and small-businesses have a seat at the table"

Section 242(b)(2) of Dodd-Frank specifics that each OMWI director must create standards fostering equal employment opportunities, increased participation of minority and women-owned businesses and asses the diversity policies and practices of the specific agency.

Major developments in 2011: The SEC established it's OMWI division in July of 2011. Other agencies have created their own OMWIs and are working to carry out the requirements of the Dodd-Frank Act.