1. Short title This Act may be cited as the Promoting Diversity and Inclusion in Banking Act of 2020 . 2. Diversity and inclusion ratings (a) In general The Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5301 et seq.) is amended by inserting after section 342 the following: 342A. Diversity and inclusion ratings (a) In general The Board of Governors, the Comptroller of the Currency, the Corporation, and the National Credit Union Administration Board, in assigning a rating to a depository institution under the Uniform Financial Institutions Rating System (or an equivalent rating by any such agency under a comparable rating system) shall include a diversity and inclusion component that examines— (1) whether the depository institution has policies in place to encourage diversity and inclusion in the hiring practices of the institution; (2) whether the depository institution provides training to the employees of the institution on diversity and inclusion; and (3) (A) with respect to a depository institution with total consolidated assets of $1,000,000,000 or less, whether such depository institution has designated an individual to serve as a Diversity and Inclusion Officer who reports to the Chief Executive Officer of the institution on all diversity and inclusion matters; or (B) with respect to a depository institution with total consolidated assets of more than $1,000,000,000, whether such depository institution— (i) has designated an individual to serve as a Diversity and Inclusion Officer