Diversity and equality

JPMorgan will ditch customers who racially abuse its workers

06/26/20

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.

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Fed halts dividend hikes, buybacks; regulators vote to relax Volcker Rule

06/26/20

The Fed stopped short of banning payouts entirely following bank stress tests; banks get greater freedom to invest in venture capital funds and reduced collateral on swap trades.

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Toronto banks lack minority leaders in city of diversity

06/24/20

More than half of Toronto's population is foreign-born — a higher proportion than New York, Paris, London or Sydney — and about 52% identify as a visible minority. But the city's diversity fades in the upper echelons of its financial firms.

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Banking with purpose: A new social contract

06/23/20

The pandemic and the Black Lives Matter protests have changed the way banks interact with their customers, communities and employees. Here's how.

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A purpose-driven CD and other ideas for advancing economic justice and diversity

06/22/20

Funds from a certificate of deposit at Berkshire Bank will help fuel lending to minority-owned small businesses. Mellody Hobson explains why merely ‘working on diversity’ is not good enough. And Wells Fargo ties compensation to progress on diversity targets.

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Juneteenth, OCC targeting ex-Wells execs, deposit glut: Top stories of the week

06/19/20

JPMorgan Chase, Fifth Third, Truist among banks closing early to observe Juneteenth; inside the OCC's effort to extract $37.5M from former Wells Fargo execs; banks are at a loss what to do with record amount of funds; and more from this week's most-read stories.

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The civil rights issue of our generation

06/19/20

As the U.S. celebrates Juneteenth, it's imperative that credit unions find ways to ensure all Americans have access to the banking services necessary to thrive.

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PNC pledges $1 billion to fight racism

06/18/20

The Pittsburgh-based company said the funds will be used to support community development, minority-owned businesses and charitable organizations that work to promote social justice.

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An ‘overwhelming’ moment: Behind BofA’s $1B racial justice commitment

06/18/20

From hiring to health care, Vice Chair Anne Finucane shares details about Bank of America’s pledge to address vital needs in minority communities.

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Treasury, SBA ease PPP loan forgiveness terms; U.S. faces coin crunch

06/18/20

Firms won’t have to repay their loans even if they don’t rehire all their laid off workers; Fed chair confirms the shortage is due to the coronavirus but is easing as the economy reopen.

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