News Topic: Diversity and equality

The algorithms banks use to assess the financial well-being of minorities would be more effective if Black analysts crunched the numbers, says Troynica Green, a data analyst at Regions Bank. ... Read full article

The credit union regulator's November board meeting covered a variety of issues, including the voluntary self-assessment, disagreements on the budget proposal and the possibility of new insurance premiums in 2021. ... Read full article

Bank of America will help Cornell University expand an online training course aimed primarily at Black and Hispanic women who want to start their own companies, as part of the bank's $1 billion racial justice commitment. ... Read full article

Community development financial institutions, which tend to be less digitally savvy than traditional banks and credit unions, are developing online-lending platforms and automating backroom processes with investments and technical assistance from big ... Read full article

Credit unions will have their first opportunity to hear from the federal regulator about its recently released budget proposal and also get an update on the agency's diversity self-assessment. ... Read full article

The response exceeded expectations, with more than 1,600 Citi customers requesting a name-change on their cards within the first few weeks of the program. ... Read full article

Opening a bank or investment account — or even securing employment in a racism-free workplace — is out of reach for many Black Americans. ... Read full article

Vendors such as eFinancialCareers, Paradox and pymetrics work with banks to assess job applicants based on their skills and not other factors. But the technology has its limits. ... Read full article

Banks must address the societal issues that resonate deeply with their customers and communities, says Regions Financial chief John Turner. ... Read full article

Kleber Santos will be responsible for building a more inclusive workforce and designing products that meet the needs of a broader, more diverse range of customers. ... Read full article

Earlier this year, the Southern California credit union was criticized for its directors not representing the demographics of the communities it serves. ... Read full article

Bankers can either fight the president’s recent order banning diversity training in federal contracts or face reputational risk by complying with it. ... Read full article

A comment by the megabank's CEO could be a teachable moment as financial institutions of all sizes attempt to diversify their ranks. ... Read full article

A comment by the megabank's CEO could be a teachable moment as financial institutions of all sizes attempt to diversify their ranks. ... Read full article

The announcement marks one of the credit union community's largest funding efforts toward diversity and inclusion initiatives. ... Read full article

They're making some headway in building workforces that better reflect the communities they serve, but progress has been slow. Here's why. ... Read full article

The Pasadena, Calif., bank is partnering with and investing $2.5 million in Gig Wage to offer services like debit cards and money management to gig workers, many of whom are among the tens of millions of unbanked and underbanked Americans. ... Read full article

Bank of America made three more investments in minority-focused lenders, bringing its total to 10 in the past two months. ... Read full article