Race discrimination

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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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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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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Banks should offer their own form of reparations

06/16/20

As governments explore whether to compensate African Americans for centuries of racism, financial institutions need to do their part to redress victims of persistent redlining.

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Congressional scrutiny of PPP grows amid national focus on racism

06/14/20

Evidence suggests some minority-owned businesses can’t access loans, and the Trump administration is under pressure to report borrower demographics. The issue is gaining attention against the backdrop of protests over the George Floyd killing.

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Delay of Fed’s Main Street program hasn't hurt businesses, Powell says

06/10/20

The central bank is only now nearing the launch of the credit facilities after the effort was announced in April. But Chairman Jerome Powell said loans have been available through other means.

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Here's Congress's chance to help black communities

06/10/20

A blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic.

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Banks urged to foster rise of minority-owned businesses

06/05/20

Lenders have a role to play in the national reconciliation that must follow the recent racial unrest — providing greater access to capital for African Americans and other underserved groups so they can build wealth, activists said at a panel discussion hosted by Berkshire Bank in Boston.

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