WASHINGTON-a new Consumer watchdog agency-on Monday appointed member out of Commission cooperation opportunities to lead a new Office to promote diversity in the agency and within the financial services industry.

Stuart Ishimaru, who served as acting Chair of the EEOC’s 2009-2010, will lead the Office of minority and women inclusion in consumer financial protection Bureau. Agency and other federal banking regulators needed to create such offices as part of its 2010 financial reform law.

The Office will be working together to develop standards to assess the policy of diversity in the financial services industry, says Director of the CFPB Richard Cordray. The Office did not have the authority to write regulations impose hiring practices at banks and other financial service companies.

Industry executives and some Republicans have been very concerned that the Office could still add to the cost of business. But Cordray said consumer Bureau would caution when moving forward.

“We need an accurate basis to assess where we are and where we should go,” Ishimaru told reporters. He said the Agency would “find ways to collect data without imposing undue regulatory burden.”

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