News Topic: Diversity and equality

The media company Urban One has launched a new account that includes a prepaid debit card and encourages customers to buy from Black-owned business and lets them donate their cash back to charity. ... Read full article

Jamie Dimon, the chief executive of JPMorgan Chase, said he’s optimistic a Biden presidency could solve problems including health care and economic inequality without damaging businesses. ... Read full article

Jane Fraser, President of Citigroup and CEO of Global Consumer Bank, shares her thoughts on becoming the firm’s next CEO, expresses her gratitude for the outpouring of support she’s received, and pays homage to all the women who have paved the path before ... Read full article

To help stop a cycle of systemic racism, bankers need to focus on advancing Black employees to leadership positions and create long-term relationships with Black-owned businesses. ... Read full article

Racial and gender representation increased in most areas of the company, including among senior management, according to data the bank released Friday. Still, the percentage of women in the top three tiers of the firm remained unchanged from a year earlier ... Read full article

Ray McGuire, one of Citigroup’s top investment bankers, has been vocal about his ideas for improving education and access to health care in low-income and minority neighborhoods. ... Read full article

The unit as of September had 20% more clients than a year earlier. Liu, who is head of North America for Citi Private Bank, explains the changes she’s made to help her group attract and serve millennials, Gen Z, Asian Americans and families. ... Read full article

Banks need to be inclusive at the highest levels, and men in the C-suite need to play an active role in that transformation, says Operation HOPE’s John Hope Bryant. ... Read full article

Television executive Ryan Glover, rap star Killer Mike and civil rights icon Andrew Young have launched a digital bank for Black and Hispanic consumers called Greenwood Financial. ... Read full article

Jane Fraser, who in February will become the first female CEO of a Wall Street bank, said during a Women in Banking event hosted by American Banker that she will be “the first of many, many more” to come. ... Read full article

The company says it plans to originate 40,000 mortgages for Black and Hispanic households and finance 100,000 affordable rental units over five years. ... Read full article

Federal Reserve officials were challenged Wednesday to make big policy changes to combat economic and racial inequality. In response, the presidents of the Atlanta, Boston and Minneapolis reserve banks pledged to shake up some long-held practices. ... Read full article

Any regulator or bank should build from a foundation of diversity, dignity and respect, says Grovetta Gardineer, the agency's head of national bank supervision policy. ... Read full article

New rules on shareholder submissions of proxy proposals could help banks fend off demands to disclose more pay data, cut financing to fossil fuels companies and adopt other reforms. ... Read full article

The initiative, backed by Vice Chairman Anne Finucane and Chief Operating Officer Tom Montag, is Bank of America’s eighth environmental, social and governance-themed bond. ... Read full article

The American Association of Bank Directors is setting up an on-the-job training program to help banks reach a younger and more diverse group of prospective employees. ... Read full article

Bostic, the first Black Fed president in the central bank’s 106-year history, said systemic racism is an economic as well as a moral issue. ... Read full article

During a Senate Banking Committee hearing, the Massachusetts Democrat asked Powell what the Fed is doing to reduce inequality along economic lines in the U.S. ... Read full article