Diversity Management, News and Updates
When it comes to how people want to spend and save their money, a new report from U.S. Bank (No. 18 on The DiversityInc Top 50 Companies for Diversity list in 2021) reveals that Black Americans are significantly more interested in supporting their community and creating a lasting legacy for…
In an exciting development in the world of finance, two of the country’s leading Black-owned banks — City First Bank and Broadway Financial Corp. — have finalized efforts to merge as City First Broadway. The newly merged bank will have more than $1 billion in combined assets and will now…
While it’s not unusual for some U.S. executives to receive bonuses based on various diversity goals within an organization, regulators in the U.K. are looking into enacting a more formal and official program linking the two ideas together, making financial services more accountable for their hiring practices. Bloomberg’s Aoife Kearins…
As if the challenges of paying a mortgage and maintaining the upkeep of a home weren’t enough, a new study from the national discount real estate brokerage site, Redfin, has revealed that the market value of a Black-owned home in America is undervalued by an average of $46,000 when compared…
Top Federal Reserve officials from a dozen regional banks met on April 13 to discuss the racial-disparity problem within the world of economics. According to Christopher Rugaber of The Associated Press, “top Federal Reserve policymakers on Tuesday underscored their concern that Black and Hispanic people are sharply underrepresented in the…
Originally Published by Mastercard BMO becomes first to offer members of the transgender and non-binary communities the ability to use their true name on their debit cards Today, BMO Harris Bank became the first issuer to implement the Mastercard True Name feature, enabling people to use their true first name…
Wells Fargo & Company(No. 9 on the DiversityInc Top 50 Companies list) announced today that effective immediately it has appointed Mary Mack to head the company’s Consumer Lending business, in addition to Community Banking, expanding the senior executive vice president’s responsibilities. Mack’s new role includes the Community Banking organization, which…
In honor of the International Day of People with Disabilities, Wells Fargo & Company (No. 9 on the DiversityInc Top 50 Companies list) launched its Enterprise Accessibility Program Office. The office will coordinate and advocate for accessibility initiatives throughout the company to help deliver a positive and consistent team member…
TD Bank Group (No. 38 on the DiversityInc Top 50 Companies list) has announced a set of initiatives to advance the low-carbon economy of the future. These initiatives include a target of CDN$100 billion in low-carbon lending, financing, asset management and other programs by 2030. TD is taking clear steps…
While banks have materially strengthened their risk management approach from the board level down across risk, compliance and controls since the financial crisis, the industry is still searching for the appropriate blueprints to establish effective risk accountability across the three lines of defense. This is according to EY’s 2016 global…
