News Topic: Racial Bias

Banks must address the societal issues that resonate deeply with their customers and communities, says Regions Financial chief John Turner. ... Read full article

Earlier this year, the Southern California credit union was criticized for its directors not representing the demographics of the communities it serves. ... Read full article

A comment by the megabank's CEO could be a teachable moment as financial institutions of all sizes attempt to diversify their ranks. ... Read full article

A comment by the megabank's CEO could be a teachable moment as financial institutions of all sizes attempt to diversify their ranks. ... Read full article

Net worth disparities and the role housing and mortgage discrimination play in Black homeownership show that it's impossible to close the gaps without eliminating racism. ... Read full article

Traditional lenders must embrace fintech underwriting tools that would help women- and monitory-owned businesses get loans they are too often denied. ... Read full article

This five-part series is a comprehensive effort to explain the racial discrimination Black Americans face in our financial system. ... Read full article

The legislation would extend to the banking system the Civil Rights Act's protections for customers of hotels and restaurants. ... Read full article

The Consumer Financial Protection Bureau's overhaul of its Qualified Mortgage standard is alarming free-market advocates who say it will precipitate a return to easy credit and higher defaults and could disproportionately harm minorities. ... Read full article

Any regulator or bank should build from a foundation of diversity, dignity and respect, says Grovetta Gardineer, the agency's head of national bank supervision policy. ... Read full article

The bar to prove discriminatory patterns is so high that plaintiffs would have slim odds of winning lawsuits against housing providers. ... Read full article

The agency’s report on mortgage data submitted by lenders identified persistent disparities between white borrowers and minorities in denial rates and pricing. Some observers say the bureau should have been more explicit as the nation wrestles with ... Read full article

The final version of the amended rule, like the original proposal, makes fair lending claims tougher to prove; but it does soften language that otherwise might have allowed mortgage companies to use algorithms to prove nondiscrimination. ... Read full article

Bank of America announced how it plans to spend a third of its $1 billion commitment to address racial and economic inequities and the effects of the coronavirus pandemic in communities of color. ... Read full article

Larry Sewell has also pledged to continue a series of industrywide conversations on race relations. ... Read full article

Piedmont Federal Savings is working with historically Black colleges and universities to hire and train prospective commercial lenders and managers who better reflect the community it serves. ... Read full article

Political donations from the sector and interviews with industry experts highlight a wide range of views on affordable housing resources, the appropriate level of regulatory relief and how policymakers should enforce fair housing rules. ... Read full article

The Federal Reserve could ease capital rules, foster the creation of special-purppose banks and take other steps to strengthen minority communities and businesses without legislation being sought in Congress — if it has the will to do so, experts say. ... Read full article