Page:United States Statutes at Large Volume 124.djvu/1568

 124 STAT. 1542 PUBLIC LAW 111–203—JULY 21, 2010 (4) RULE OF CONSTRUCTION.—Nothing in paragraph (2)(C) may be construed to mandate any requirement on or otherwise affect the lending policies and practices of any regulated entity, or to require any specific action based on the findings of the assessment. (c) INCLUSION IN ALL LEVELS OF BUSINESS ACTIVITIES.— (1) IN GENERAL.—The Director of each Office shall develop and implement standards and procedures to ensure, to the maximum extent possible, the fair inclusion and utilization of minorities, women, and minority-owned and women-owned businesses in all business and activities of the agency at all levels, including in procurement, insurance, and all types of contracts. (2) CONTRACTS.—The procedures established by each agency for review and evaluation of contract proposals and for hiring service providers shall include, to the extent con- sistent with applicable law, a component that gives consider- ation to the diversity of the applicant. Such procedure shall include a written statement, in a form and with such content as the Director shall prescribe, that a contractor shall ensure, to the maximum extent possible, the fair inclusion of women and minorities in the workforce of the contractor and, as applicable, subcontractors. (3) TERMINATION.— (A) DETERMINATION.—The standards and procedures developed and implemented under this subsection shall include a procedure for the Director to make a determina- tion whether an agency contractor, and, as applicable, a subcontractor has failed to make a good faith effort to include minorities and women in their workforce. (B) EFFECT OF DETERMINATION.— (i) RECOMMENDATION TO AGENCY ADMINIS- TRATOR.—Upon a determination described in subpara- graph (A), the Director shall make a recommendation to the agency administrator that the contract be termi- nated. (ii) ACTION BY AGENCY ADMINISTRATOR.—Upon receipt of a recommendation under clause (i), the agency administrator may— (I) terminate the contract; (II) make a referral to the Office of Federal Contract Compliance Programs of the Department of Labor; or (III) take other appropriate action. (d) APPLICABILITY.—This section shall apply to all contracts of an agency for services of any kind, including the services of financial institutions, investment banking firms, mortgage banking firms, asset management firms, brokers, dealers, financial services entities, underwriters, accountants, investment consultants, and providers of legal services. The contracts referred to in this sub- section include all contracts for all business and activities of an agency, at all levels, including contracts for the issuance or guar- antee of any debt, equity, or security, the sale of assets, the manage- ment of the assets of the agency, the making of equity investments by the agency, and the implementation by the agency of programs to address economic recovery. Standards. Procedures.