A report by the Greenlining Institute, entitled “Government That Looks Like America Racial and Ethnic Diversity in Financial Regulatory Institutions,” is being released first on Fair360.com. It examines the demographics of the organizations regulating the financial-services industry, and they come up shortespecially at the top.
The Greenlining Institute, a nonprofit organization that works for equality in lending, studied racial/ethnic diversity in the workforce and management at federal financial regulatory agencies. While several of the organizations had workforce diversity, especially Blacks in agencies located in Washington, D.C., or cities, the lack of Latinos throughout the workforce and lack of all racial/ethnic diversity in the top levels of management was significant.
Greenlining feels that without an adequate understanding of these communities from senior leadership, regulatory agencies cannot effectively prevent marketplace discrimination. Other studies have documented the increasing race-based wealth gap.
