On July 27, 2020 Nareit, the U.S. Chamber of Commerce and other leading organizations sent a letter to the Heads of the Senate Banking Committee, Chairman Mike Crapo (R-ID) and Ranking Member Sherrod Brown (D-OH) in support of H.R. 5084, the Improving Corporate Governance through Diversity Act of 2019.
The “Improving Corporate Governance through Diversity Act of 2019” would establish a model to boost diversity on boards through disclosure. This legislation would also establish an advisory group that would carry out a study and provide recommendations on private sector strategies to increase gender, racial and ethnic diversity among boards of directors.
On Nov. 18, 2019 the U.S. House of Representatives passed H.R. 5084, the Improving Corporate Governance Through Diversity Act of 2019. This bill was introduced by Rep. Gregory Meeks (D-NY), Chairman of the Subcommittee on Consumer Protection and Financial Institutions, and cosponsored by Rep. Carolyn Maloney (D-NY), Chair of the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets. H.R. 5084 passed by a vote of 281-135.
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