CARRIE BUDOFF BROWN
July 28, 2010
A little-noticed section of the Wall Street reform law grants the federal government broad new powers to compel financial firms to hire more women and minorities — an effort at promoting diversity that’s drawing fire from Republicans who say it could lead to de facto hiring quotas.
Deep inside the massive overhaul bill, Congress gives the federal government authority to terminate contracts with any financial firm that fails to ensure the “fair inclusion” of women and minorities, forcing every kind of company from a Wall Street giant to a mom-and-pop law office to account for the composition of its work force.
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