News Topic: Race discrimination

The Federal Reserve Racial and Economic Equity Act would direct the Fed to consider racial inequality in employment, income and access to affordable credit when making monetary policy and in its regulation and supervision of banks. ... Read full article

The company's foundation, whose mission had been carefully planned by BB&T and SunTrust before their merger, opened just nine days before the novel coronavirus was declared a pandemic. Here’s what happened next. ... Read full article

The Trump administration's executive order to terminate and replace federal enforcement of anti-discrimination policies at the local level, citing the burden it put on municipalities, enraged advocates of equitable housing practices. ... 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

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

He co-founded California Rural Legal Assistance, Public Advocates and the Greenlining Institute ... 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

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 ... Read full article

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. ... Read full article

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

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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

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 ... Read full article

The chiefs of some of the biggest U.S. banks called on their workers to fight racism after an unarmed black man died as a result of a white police officer kneeling on his neck, prompting nationwide protests. ... Read full article

Black and Latino business owners were less likely to get loans than overall borrowers, survey states; Atlanta Fed president tells lenders they won’t be second-guessed if they do right by borrowers. ... Read full article