Free financial education programs and easier access to safe small-dollar loans are among the ways banks could help put low-income minority households on a path to prosperity.

Startups such as Majority, Sable and Simba were created by newcomers to the U.S. who learned firsthand which services, including global remittances and financial education, their audience values most.

The North Carolina-based credit union is one of a handful in the industry to prioritize diversity, equity and inclusion at the management level.

After the agency pulled back on fair-lending enforcement in the Trump administration, interim Director Dave Uejio has made clear his intent to use the “disparate impact” standard to launch more anti-discrimination probes.

Scott Ford is the new president of the 1,400-employeee wealth management unit that caters to affluent clientele of the Minneapolis company.

A voluntary effort to include more members of underrepresented groups in the C-suite and on corporate boards would help banks avoid government mandates.

Bank of New York Mellon, State Street and Northern Trust have even more reason to slash costs than commercial banks because their options to boost revenue are more limited. Problem is, they also have fewer cost-cutting options.

Wells Fargo cut its chief executive's compensation about 12% for 2020, a year in which shares tumbled and the company slashed its dividend and reported its first quarterly loss since 2008.

Stephen Steinour, the head of Huntington Bancshares, approached TCF Financial about a merger three days after the latter's CEO abruptly retired. An agreement was sealed in about six weeks.

Laws like the Home Mortgage Disclosure Act require banks to report detailed demographics of borrowers to ensure fair lending practices. If banks are serious about promoting diversity, then they should commit to revealing similar details about their own employees.