On June 11, Rep. Nikema Williams (D-Ga.) reintroduced the Promoting Responsive Inclusion and Diverse Engagement (PRIDE) Act, a bill that ensures equal access to financial services and inclusion for LGBTQ+ individuals in the financial services industry.

“At a time when the Trump administration is dismantling DEI (diversity, equity and inclusion) initiatives across the federal government, we must continue fighting to ensure everyone has a voice and a seat at the table,” Williams said in a release. “The PRIDE Act would help ensure that LGBTQ+ Americans are considered in the policies, programs and services administered by federal agencies. By making protections based on gender identity and sexual orientation part of the Offices of Minority and Women Inclusion’s (OMWI) mission, the bill would help ensure that federal services work for all Americans.”

The PRIDE Act raises the importance of financial inclusion for LGBTQ+ individuals, who continue to face significant discrimination in the financial industry. With only 0.9 percent of Fortune 500 board seats held by out LGBTQ+ individuals, this bill addresses the underrepresentation and workplace discrimination that persists in the industry. Furthermore, same-sex couples are 73 percent more likely to be denied loans compared to different-sex couples with similar characteristics.

The PRIDE Act would amend Section 342 of the Dodd-Frank Act to expand OMWI to the Office of Women, Minority, and LGBTQ+ Inclusion across all covered financial regulatory agencies, including the Consumer Financial Protection Bureau, the Federal Reserve Board, the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, Securities and Exchange Commission, National Credit Union Administration and the Department of the Treasury.