Diversity and equality

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.

An international coalition led by Bank of America chief Brian Moynihan has proposed a framework for assessing how well big corporations are meeting the environmental, social and governance expectations of investors who value stakeholder capitalism.

The percentage of institutions in the Best Credit Unions to Work For rankings that provide formalized diversity training continues to rise each year, reflecting a growing awareness of the issue within the industry.

The fund will support Community Development Financial Institutions that lend to minority- and women-owned businesses. The Charlotte, N.C., company is the latest big bank to make a large dollar commitment focused on alleviating racial and economic inequality.

Citigroup will spend $1 billion over the next three years on efforts to help close the racial wealth gap as it seeks to become an “antiracist institution.”