https://theconversation.com/beyond-the-backlash-what-evidence-shows-about-the-economic-impact-of-dei-252143

Few issues in the U.S. today are as controversial as diversity, equity and inclusion – commonly referred to as DEI.

Although the term didn’t come into common usage until the 21st century, DEI is best understood as the latest stage in a long American project. Its egalitarian principles are seen in America’s founding documents, and its roots lie in landmark 20th-century efforts such as the 1964 Civil Rights Act and affirmative action policies, as well as movements for racial justice, gender equity, disability rights, veterans and immigrants.

These movements sought to expand who gets to participate in economic, educational and civic life. DEI programs, in many ways, are their legacy.

Critics argue that DEI is antidemocratic, that it fosters ideological conformity and that it leads to discriminatory initiatives, which they say disadvantage white people and undermine meritocracy. Those defending DEI argue just the opposite: that it encourages critical thinking and promotes democracy − and that attacks on DEI amount to a retreat from long-standing civil rights law.

Yet missing from much of the debate is a crucial question: What are the tangible costs and benefits of DEI? Who benefits, who doesn’t, and what are the broader effects on society and the economy?

As a sociologist, I believe any productive conversation about DEI should be rooted in evidence, not ideology. So let’s look at the research.

In the corporate world, DEI initiatives are intended to promote diversity, and research consistently shows that diversity is good for business. Companies with more diverse teams tend to perform better across several key metrics, including revenue, profitability and worker satisfaction.

Businesses with diverse workforces also have an edge in innovation, recruitment and competitiveness, research shows. The general trend holds for many types of diversity, including age, race and ethnicity, and gender.

A focus on diversity can also offer profit opportunities for businesses seeking new markets. Two-thirds of American consumers consider diversity when making their shopping choices, a 2021 survey found. So-called “inclusive consumers” tend to be female, younger and more ethnically and racially diverse. Ignoring their values can be costly: When Target backed away from its DEI efforts, the resulting backlash contributed to a sales decline.

But DEI goes beyond corporate policy. At its core, it’s about expanding access to opportunities for groups historically excluded from full participation in American life. From this broader perspective, many 20th-century reforms can be seen as part of the DEI arc.

Consider higher education. Many elite U.S. universities refused to admit women until well into the 1960s and 1970s. Columbia, the last Ivy League university to go co-ed, started admitting women in 1982. Since the advent of affirmative action, women haven’t just closed the gender gap in higher education – they outpace men in college completion across all racial groups. DEI policies have particularly benefited women, especially white women, by expanding workforce access.

Similarly, the push to desegregate American universities was followed by an explosion in the number of Black college students – a number that has increased by 125% since the 1970s, twice the national rate. With college gates open to more people than ever, overall enrollment at U.S. colleges has quadrupled since 1965. While there are many reasons for this, expanding opportunity no doubt plays a role. And a better-educated population has had significant implications for productivity and economic growth.

The 1965 Immigration Act also exemplifies DEI’s impact. It abolished racial and national quotas, enabling the immigration of more diverse populations, including from Asia, Africa, southern and eastern Europe and Latin America. Many of these immigrants were highly educated, and their presence has boosted U.S. productivity and innovation.

Ultimately, the U.S. economy is more profitable and productive as a result of immigrants.

While DEI generates returns for many businesses and institutions, it does come with costs. In 2020, corporate America spent an estimated US$7.5 billion on DEI programs. And in 2023, the federal government spent more than $100 million on DEI, including $38.7 million by the Department of Health and Human Services and another $86.5 million by the Department of Defense.

The government will no doubt be spending less on DEI in 2025. One of President Donald Trump’s first acts in his second term was to sign an executive order banning DEI practices in federal agencies – one of several anti-DEI executive orders currently facing legal challenges. More than 30 states have also introduced or enacted bills to limit or entirely restrict DEI in recent years. Central to many of these policies is the belief that diversity lowers standards, replacing meritocracy with mediocrity.

But a large body of research disputes this claim. For example, a 2023 McKinsey & Company report found that companies with higher levels of gender and ethnic diversity will likely financially outperform those with the least diversity by at least 39%. Similarly, concerns that DEI in science and technology education leads to lowering standards aren’t backed up by scholarship. Instead, scholars are increasingly pointing out that disparities in performance are linked to built-in biases in courses themselves.

That said, legal concerns about DEI are rising. The Equal Employment Opportunity Commission and Department of Justice have recently warned employers that some DEI programs may violate Title VII of the Civil Rights Act of 1964. Anecdotal evidence suggests that reverse discrimination claims, particularly from white men, are increasing, and legal experts expect the Supreme Court to lower the burden of proof needed by complainants for such cases.

The issue remains legally unsettled. But while the cases work their way through the courts, women and people of color will continue to shoulder much of the unpaid volunteer work that powers corporate DEI initiatives. This pattern raises important equity concerns within DEI itself.

People’s fears of DEI are partly rooted in demographic anxiety. Since the U.S. Census Bureau projected in 2008 that non-Hispanic white people would become a minority in the U.S by the year 2042, nationwide news coverage has amplified white fears of displacement.

Research indicates many white men experience this change as a crisis of identity and masculinity, particularly amid economic shifts such as the decline of blue-collar work. This perception aligns with research showing that white Americans are more likely to believe DEI policies disadvantage white men than white women.

At the same time, in spite of DEI initiatives, women and people of color are most likely to be underemployed and living in poverty regardless of how much education they attain. The gender wage gap remains stark: In 2023, women working full time earned a median weekly salary of $1,005 compared with $1,202 for men − just 83.6% of what men earned. Over a 40-year career, that adds up to hundreds of thousands of dollars in lost earnings. For Black and Latina women, the disparities are even worse, with one source estimating lifetime losses at $976,800 and $1.2 million, respectively.

Racism, too, carries an economic toll. A 2020 analysis from Citi found that systemic racism has cost the U.S. economy $16 trillion since 2000. The same analysis found that addressing these disparities could have boosted Black wages by $2.7 trillion, added up to $113 billion in lifetime earnings through higher college enrollment, and generated $13 trillion in business revenue, creating 6.1 million jobs annually.

In a moment of backlash and uncertainty, I believe DEI remains a vital if imperfect tool in the American experiment of inclusion. Rather than abandon it, the challenge now, from my perspective, is how to refine it: grounding efforts not in slogans or fear, but in fairness and evidence.

The NYC Lien Sale has been extended to June 3, 2025

• The lien sale removal deadline has been extended two weeks. 
• The last day to take action to remove your property from the sale is June 2, 2025.
• The lien sale will be held on June 3, 2025.

For more information on the NYC Lien Sale, please visit NYC Property Tax Lien Sale

What Is a “Notice of Recorded Document”?
This is a notification sent to registered subscribers each time a deed, deed-related document, mortgage, or mortgagerelated document has been recorded against a specific property in New York City. You must register to receive notification.

Property owners and their agents (including child, spouse, or domestic partner of owner if they are a designee),
the managing agent, the property owner’s attorney, the lienor, or executors/administrators of the estate of the owner or
leinor of the property should register to be notified of documents recorded against the property. Notification will usually
be issued the day after a document is recorded. Note: The Department of Finance is required to record all documents
that meet recording requirements.

Why Should I Register to Receive Notification?
Receiving a “Notice of Recorded Document” will alert registered property owners when documents are recorded without their knowledge and will allow them to take steps to limit the harm caused by the recording of a fraudulent document.

How Do I Register?
Registering is easy and fast. Register electronically by visiting the Department of Finance website, www.nyc.gov/finance, or the ACRIS website, www.nyc.gov/acris and click on the “Recorded Document Notification” link. You can register by using your property address or the borough block and lot number. You may also submit a completed "Notice by Mail of Recorded Document" application which is available on our website or by calling 311.

Can I Register to Receive Notification for More Than One Property at a Time?
No. You must register separately for each property.

Are There Any Fees Involved When Registering?
There are no fees to register or to receive a notification sent via e-mail or regular mail. However, text message rates
may apply (please consult with your carrier).

How Long Will My Registration Last?
Your registration will remain in effect until you opt out of receiving notification.

What Should I Do if I No Longer Wish to Receive Information About a Particular Property?
You must “delete” your registration information by visiting the New York City Department of Finance website
www.nyc.gov/finance or ACRIS website www.nyc.gov/acris and click on the “Recorded Document Notification” link. You may also delete your registration by submitting a completed “Notice by Mail of Recorded Document” application which is available on our website or is available by calling 311.

Will I Receive Notification for Every Document Recorded on the Property?
No, a “Notice of Recorded Document” will be sent only when the following documents have been recorded:

Department of Finance
Deed and Deed-Related Documents
Agreement
Air Rights
Condemnation Proceedings
Condo Declaration
Confirmatory Deed
Contract of Sale
Correction Deed
Court Order
Deed
In Rem Deed
Judgment
Life Estate Deed
Memorandum of Contract
Power of Attorney
Real Estate Investment Trust Deed
Revocation of Power of Attorney
Sundry Agreement
Unit Assignment

Mortgage and Mortgage Related Documents
Agreement
Collateral Mortgage
Correction Mortgage
Court Order
Initial UCC1 (financing statement)
Judgment
Mortgage
Mortgage and Consolidation
Mortgage Spreader Agreement
Satisfaction of Mortgage
Subordination of Mortgage
Sundry Mortgage

Should an Owner (or the designee) of an Individual Cooperative Apartment Unit or Timeshare Register?
It is not recommended that an owner (or designee) register because individual cooperative apartments units or timeshares do not have a unique block and lot number. If an owner (or designee) of a cooperative apartment unit or Timeshare registers to receive notification, registration can only be for the entire building. The registrant will receive a Notice of Recorded Documents affecting the building rather than a particular apartment unit or timeshare. This may result in a large number of unnecessary notifications.

What Should I Do if I Receive a “Notice of Recorded Document” and the Property is in Manhattan (New York
County), The Bronx, Brooklyn (Kings County), or Queens?
You should:
1. Go to the website at www.nyc.gov/acris and click on “Search Property Records”.
2. Enter the borough, block and lot number of the property and then you can review the document for which you have
received a “Notice of Recorded Document.” (If you do not have access to a computer you may visit one of our City
Register locations listed below.)
3. If you own property with another party/parties, you may want to contact them to find out if the other party/parties
is/are aware of the document for which you have received notice.

What Should I Do When I Receive a “Notice of Recorded Document” and the Property is in Staten Island
(Richmond County)?
If the property is in Staten Island, you must visit the Office of the Richmond County Clerk to view a copy of the
recorded document.

What will happen after I register for notification?
Immediately after registering, you will receive an automatically generated email confirming that you elected to receive
email notices whenever documents are recorded against the entered BBL. If you do not receive this email within 15 minutes, please verify that you entered the correct email address. If the email address that you entered (per the confirmation screen) is incorrect, you should re-register to receive notice using the correct email address. If you had used the correct email address, please check your junk mail as the antispam and email filtering you may be running can potentially cause these emails to arrive in your junk email folder. To prevent future emails from doing the same, please add acrisnrd@finance.nyc.gov to your safe senders list. If the email address that you entered is correct and the email is not in your junk email folder, you should call 311.
If you requested registration of notification for a BBL, then starting the day of the registration you will be notified via email
when any deed, deed-related document, mortgage, or mortgage-related document is recorded against that BBL. The
email will contain a reference to the document(s) recorded the previous day.
If you register by submitting a completed "Notice by Mail of Recorded Document" application, you will receive a confirmation
of your registration by mail and receive notices by mail whenever documents are recorded against the entered
BBL. If you do not receive the confirmation within two weeks, you should call 311.

What will happen after I request deletion of my registration?
Immediately after requesting deletion of your registration you will receive an automatically generated email confirming
that you elected to no longer receive email notices whenever documents are recorded against the entered BBL. If you
do not receive this email within 15 minutes, please verify that you entered the correct email address. If the email address that you entered (per the confirmation screen) is incorrect, you should re-register to receive notice using the correct email address. If you had used the correct email address, please check your junk mail as the antispam and email filtering you may be running can potentially cause these emails to arrive in your junk email folder. If you request deletion of an existing registration for a BBL and any deed, deed-related document, mortgage, or mortgage-related document is recorded against that BBL the day you requested deletion, you will receive an email notification; however, you will not receive notification of any subsequent recordings unless you register again.
If you request deletion of your registration by submitting a completed "Notice by Mail of Recorded Document" application, you will receive a confirmation by mail that you elected to no longer receive notices whenever documents are recorded against the entered BBL. If you do not receive the confirmation within two weeks, you should call 311.

After I Review the Document, What Should I Do?
1. If you know about the recorded document and it is correct you do not need to take any further steps.
2. If the document is incorrect or if you were not aware of the document, call 311. If you are calling from outside of
New York City, call 212-NEW-YORK or 212-639-9675. The call center representative will be able to refer you to an
appropriate agency to assist you in resolving your issue.

Department of Finance l Division of Land Records l City Register Locations
MANHATTAN BRONX
66 John Street, 13th Floor 3030 Third Avenue, Room 280
New York, NY 10038 Bronx, NY 10455

BROOKLYN QUEENS
210 Joralemon Street, Room 2 144-06 94th Avenue
Brooklyn, NY 11201 Jamaica, NY 11435

OFFICE OF THE RICHMOND COUNTY CLERK
130 Stuyvesant Place
Staten Island, N.Y. 10301

Disclaimer
The Department of Finance assumes no liability for failure to provide the requested notice of
recorded document with respect to the property for which you are registering to receive notification.
The City of New York, including the Department of Finance, and the Office of the Richmond
County Clerk assumes no liability for performing its legal duty to record documents, even if those
documents are in some instances later be determined to be erroneous, fraudulent, or invalid.

Superintendent Harris’s Operations and Technology Transformation Hits Major Milestones with DFS Connect Launch and 1000 Hires and Promotions Since January 2022

The New York State Department of Financial Services (DFS) today launched the DFS Connect platform, marking a significant milestone in the Department’s ongoing operations and technology transformation. Under Superintendent Adrienne Harris’s leadership, over the past three years, DFS has executed a strategic plan to invest in human capital, modernize technological resources, and streamline processes. These efforts ensure that DFS remains a forward-thinking, responsive regulator in an evolving financial landscape.

“Over the last three years, we have cultivated a culture of innovation, invested in new technological infrastructure, and updated key processes,” said Superintendent Harris. “DFS Connect is a pivotal example of how we are innovating to enhance regulatory oversight while making it easier for New Yorkers and businesses to engage directly with the agency,”

Over the course of the next three years, the DFS Connect digital portal will centralize the Department’s interactions with regulated entities and consumers. DFS Connect is eliminating outdated, fragmented systems and replacing them with a single, streamlined platform that enhances efficiency, improves oversight, and ensures better service to businesses and consumers.

With today’s launch, New Yorkers can now submit complaints about prescription drug costs, pharmacy benefit managers (PBMs), and drug manufacturers. Once a complaint is submitted, an individual can track its status in real-time and communicate directly with DFS staff about their issue. By 2027, all consumer complaints and regulatory functions agency-wide, such as licensing, renewals, examinations, financial statements and legal filings, will be handled seamlessly through DFS Connect. 

Since 2022, DFS has prioritized modernizing its regulatory infrastructure to ensure it is well-equipped to manage emerging risks. This has included a comprehensive technology overhaul, the establishment of the agency’s first Data Governance Office, and the hiring of the Department’s first-ever Chief Technology Officer and Chief Risk Officer. These steps have allowed DFS to enhance its analytical capabilities, implement real-time risk monitoring, and improve decision-making processes.

DFS has also invested heavily in strengthening its workforce, hiring and promoting more than 1,000 individuals over the past three years, including the first class of financial services examiner trainees since 2018. Additionally, the Department has expanded its regulatory capabilities by establishing the Climate Division and the Pharmacy Benefit Unit and elevating key operational functions by creating an executive leadership role dedicated to internal operations.

These staffing investments, combined with business process redesign efforts, have eliminated backlogs that had persisted for years. Since implementing a new regulatory tracking system in 2023, DFS has now cleared more than 30,000 backlogged regulatory filings, ensuring more efficient oversight of financial institutions.

The Department will continue to invest in cutting-edge technology, data-driven oversight, and a highly skilled workforce to maintain its status as a 21st-century regulator. By enhancing its efficiency and responsiveness, DFS is not only adapting to the complexities of the modern financial landscape but also strengthening protections for New Yorkers and the financial system at large.

For more information or to sign up for DFS Connect, visit the DFS website or the DFS Connect platform.