PRIDE Act of 2026

The "Promoting Responsive Inclusion and Diverse Engagement Act of 2026," or PRIDE Act of 2026, aims to significantly broaden the scope of diversity and inclusion efforts within the financial sector. Its primary objective is to amend the Dodd-Frank Wall Street Reform and Consumer Protection Act by expanding the existing Offices of Minority and Women Inclusion to explicitly encompass LGBTQI+ inclusion.

Specifically, the bill renames these entities to the Office of Minority, Women, and LGBTQI+ Inclusion across relevant legislation, including the Dodd-Frank Act and the Housing and Community Development Act of 1992. This expansion mandates that these offices promote the fair inclusion and utilization of LGBTQI+ individuals and LGBTQI+-owned businesses in all business activities of regulated entities.

Key provisions include updating language to strike "and gender" and insert "gender, gender identity, and sexual orientation," ensuring a more comprehensive approach to diversity. The bill also provides clear definitions for "LGBTQI+" as lesbian, gay, bisexual, transgender, queer, or intersex, and for an "LGBTQI+-owned business" as one where more than 50 percent of ownership, control, or net profit accrues to LGBTQI+ individuals. These changes aim to foster greater equity and representation within the financial services industry.