Employees at Beneficial State Bank secured banking's first labor union contract in 40 years and now are calling on Congress to pass legislation, drafted by House Democrats, to protect front-line workers across the industry.

The moves are part of a $30 billion pledge to advance racial equity that the megabank made following George Floyd's murder last year.

The proposal calls for a 20-year mortgage with Ginnie Mae and Treasury participation, but critics suggest that other measures would be more effective in bridging the gap in home equity.

Sandra Thompson, who has been acting director of the Federal Housing Finance Agency since June, has won backing from the mortgage industry and community groups for the experience she brings to the role. The push comes as the administration is said to be considering Mike Calhoun of the Center for Responsible Lending.

With tricked-out conference rooms, online career development tools and blocks of time for chitchat, Ally and Citizens are strengthening connections between colleagues during phased returns to the office.

The chair of the House Financial Services Committee endorsed acting Federal Housing Finance Agency Director Sandra Thompson as rumors abound that the administration is considering someone else for the job.

The agency organized a vehicle seeded with $120 million from anchor investors — including Truist and Microsoft — enabling minority-owned banks and community development financial institutions to seek capital for development projects in underserved areas.

Credit unions expanded perks and benefits for workers whose personal lives and jobs were rocked by the pandemic. The added costs are bearable and will be necessary to keep employees over the long term, executives say.

The Chicago City Council approved a measure to boost transparency around the lending practices of the city’s banks and help address homeownership disparities in the nation’s third most-populous city.

In a recent securitization with Capital One, RBC Capital Markets gave a bigger role to small firms owned by minorities and women. It’s one example of how banks are striving to be more inclusive.