Diversity and equality

Trump’s attempt to weaken fair housing rules is beyond tone deaf

07/20/20

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

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Wells takes back chunk of bad loans, CFPB probes Quicken unit, Truist’s cost-cutting: Top stories of the week

07/17/20

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.

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CFPB slaps Chicago mortgage lender with redlining lawsuit

07/15/20

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.

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How banks aim to close racial wealth gap: More minorities in leadership

07/12/20

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.

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Fintech shakeout, Main Street loan quandary, PNC diversifies leadership: Top stories of the week

07/11/20

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 team; and more from this week’s most-read stories.

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PNC Financial expands, diversifies executive leadership team

07/07/20

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.

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RBC aims for 30% minority executives, sets targets for new hires

07/07/20

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.

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Black communities need more help from Fed

07/07/20

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

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Netflix to deposit $100M in Black-owned banks; OCC warns on compliance risks

07/01/20

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.

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N.Y. regulator urges banks to lend to firms owned by women, minorities

06/30/20

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 minorities.

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