News Topic: Diversity and equality

Treasurer Ma has championed programs to give minority and women-owned businesses a seat at the table throughout her career. A mission of the Treasurer is increasing diversity to increase equitable outcomes. ... Read full article

Jo Jagadish, who joined TD Bank in April as head of commercial products and payments innovation, spent her childhood moving country to country, so she's used to a world without borders — the kind world emerging from the capabilities of fintech and ... Read full article

Devon Bryan, who held similar jobs at KPMG and the Federal Reserve System, succeeds Brian DiPietro, who had been information security chief since 2016. ... Read full article

Institutions large and small are either creating new positions or elevating existing diversity heads to C-suite roles. Will the moves help banks improve equality within their ranks and better serve their communities? ... Read full article

Bank leaders should embrace the decision in their efforts to guard against reputational and workplace risks. ... Read full article

Highlighting its commitment to hiring and promoting more minorities, the company has promoted Greg Cunningham to senior vice president and appointed him to CEO Andy Cecere’s leadership team. ... Read full article

Peoples Bank in Arkansas once used brokered deposits to fund more loans to underserved borrowers. It could do so again if Congress loosens restrictions, says CEO Mary Fowler. ... Read full article

The White House's efforts to loosen equality requirements in lending run counter to the widespread demand for racial justice. Congress must act. ... Read full article

Wells Fargo buys $14B of delinquent mortgages tied to pandemic; CFPB launches investigation of Quicken Loans real estate affiliate Rocket Homes Real Estate; Truist accelerates cost-cutting plans; and more from this week’s most-read stories. ... Read full article

The consumer agency alleges Townstone Financial's CEO and president made statements on a radio show discouraging applicants living in Black neighborhoods from seeking home loans. ... Read full article

The pressure is on for banks to help Black and Hispanic households build net worth. Many say that starts with diversifying the ranks of middle and upper management. ... Read full article

New president of Promontory Interfinancial Network says recession will cause "hundreds" of nonbank disruptors to fail; lenders face dilemma over offering Main Street loans to noncustomers; PNC Financial expands, diversifies executive leadership ... Read full article

Less than three weeks after making a $1.05 billion pledge to fight racism, the Pittsburgh company promoted two Black bankers to its top-level management committee. ... Read full article

The Main Street Lending Program and other Federal Reserve loan facilities should be tailored to the needs of Black-owned banks and businesses. ... Read full article

Royal Bank of Canada says it is raising internal targets for the number of racial minorities in executive roles to improve diversity in its leadership ranks. ... Read full article

The company seeks to help funnel more loans to minority businesses and consumers; the regulator says short-staffed banks are having trouble handling new government programs. ... Read full article

The New York State Department of Financial Services issued a letter Tuesday reminding lenders of amendments to the state's Community Reinvestment Act, under which banks are evaluated on how they meet the credit needs of businesses owned by women and ... Read full article

JPMorgan Chase is cracking down on racism by its customers. The bank is revamping a policy for dealing with abusive clients to include racism toward call-center employees as behavior that could warrant cutting ties with the customers. ... Read full article