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'The overarching and governing reason for supplier diversity at Freddie Mac is our charter,” says Bunni Young, manager for supplier diversity. “Our charter directs us to have a bona fide minority outreach program.” This, she notes, was mandated by Congress in the Federal Housing Enterprises Financial Safety and Soundness Act.
In other words, supplier diversity at the Federal Home Loan Mortgage Corp (Freddie Mac, McLean, VA) is not a “feel good program” or simply the right thing to do. “It is part of our charter, mandated by Congress in 1991.
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