Diversity and equality

Credit union boards slow to diversify despite mounting pressure

02/26/21

The ongoing national conversation about race and social justice has increased calls for boards of directors that better reflect credit union membership. But any really change won't happen quickly.

[more]

JPMorgan Chase creates investment product for Black-owned banks

02/23/21

The product — a special class of shares in JPMorgan's Empower money market fund — will initially be distributed by the Harbor Bank of Maryland, Liberty Bank & Trust, M&F Bank and Unity National Bank, according to a statement.

[more]

Mortgage boom fuels launch of UW Credit Union’s racial equity fund

02/18/21

The Madison, Wis.-based credit union will donate $1.5 million to a pair of United Way chapters in the region which will help distribute the funds to organizations serving communities of color.

[more]

Goldman Sachs pledges $25 million to historically Black colleges

02/16/21

Goldman’s move follows similar initiatives in recent months by the biggest U.S. financial firms.

[more]

Wells Fargo invests in six Black-owned banks

02/08/21

Aside from the cash infusions, the San Francisco-based bank will assign dedicated teams to provide the lenders with financial, technology and product expertise.

[more]

What bankers can do to close the racial wealth gap

02/08/21

Free financial education programs and easier access to safe small-dollar loans are among the ways banks could help put low-income minority households on a path to prosperity.

[more]

Immigrant-focused fintechs offer lessons for banks

02/05/21

Startups such as Majority, Sable and Simba were created by newcomers to the U.S. who learned firsthand which services, including global remittances and financial education, their audience values most.

[more]

Truliant creates executive-level position focused on diversity

02/05/21

The North Carolina-based credit union is one of a handful in the industry to prioritize diversity, equity and inclusion at the management level.

[more]

Acting CFPB chief signals tougher stance against redlining

02/03/21

After the agency pulled back on fair-lending enforcement in the Trump administration, interim Director Dave Uejio has made clear his intent to use the “disparate impact” standard to launch more anti-discrimination probes.

[more]

Diversify your leadership before regulators do it for you

02/03/21

A voluntary effort to include more members of underepresented groups in the C-suite and on corporate boards would help banks avoid government mandates.

[more]