WASHINGTON, D.C. – U.S. Senator Bob Menéndez (D-N.J.), the highest-ranking Latino in Congress, a long-time champion for diversity and inclusion, today issued the following statement in response of the U.S. Treasury Department’s Appointment of Janis Bowdler as its first Counselor for Racial Equity.

“I’m glad to see the Biden-Harris Administration taking a coordinated approach to correct longstanding racial inequalities that permeate our banking system and financial industries, and to make the Treasury Department itself more representative of the nation. By releasing a Coordinated Strategy to Advance Racial Equity and appointing its first Counselor for Racial Equity, Secretary Yellen is putting her commitments in action and moving the Department into the right direction to advance racial equity and help address the issues I have continually raised.

“As I have said before, a financial system and a Treasury Department that is not diverse misses things that matter. Lack of representation not only contributes to discrimination in financial services, but contributes to broad discrimination that can cause systemic issues in our financial system.

“I congratulate Ms. Bowdler, a successful Latina with deep knowledge of wealth disparities, as she embarks on the critical mission of dismantling structural and institutional racism and improving representation.”