Diversity and equality

The North Carolina bank’s earlier $60 billion plan, which was tied to the BB&T-SunTrust merger, is set to expire this year. Its new efforts are a sign that such deals aren't always one-off arrangements meant to grease the rails for an acquisition.

The actions involved are based on findings by an interagency task force first convened last year by Marcia Fudge, secretary of the Department of Housing and Urban Development.

David Miree will become global head of diversity, equity and inclusion for the New York megabank. He will succeed Brian Lamb, who will move into a new role in the firm’s commercial banking business.

The City Council recently voted 15-1 to establish a financial authority that would provide credit enhancements on loans to underserved borrowers. Public banking advocates say the effort is both an interim step for Philadelphia and a test case for other cities.

Senate Banking Committee Chairman Sherrod Brown and other Democratic senators called on Thursday for regulators to investigate Wells Fargo’s treatment of Black homeowners seeking to refinance mortgages during the pandemic. 

Join Maggie Kimberl, President of the Bourbon Women Association for a peek behind the scenes of the bourbon industry. Learn more about the women that are rising in the male-dominated spirits sector, the proper bourbon tasting technique and a little bit of the history of bourbon.

A group of religiously affiliated shareholders that had pushed the bank to write the report says it does not include the voices of key stakeholders. The report's recommendations, written by an outside law firm, touch on workforce diversity, customer remediation and preventing retaliation against employees.

The syndicated loan, which was led by Citizens Trust Bank in Atlanta and Carver Federal Savings Bank in New York, marks the first time that a professional sports league has gotten a loan financed entirely by Black-owned banks. Those involved hope it starts a trend.

The long-awaited Community Reinvestment Act reform plan is likely to address climate change and bank partnerships with nonbank lenders, while also taking into account the shrinking number of U.S. bank branches, government officials said Monday.

Credit unions and banks need to ask themselves if they're finding ways to say "yes" to consumers who too often hear "no" from mainstream institutions. Otherwise, they perpetuate a system that excludes the poor and people of color and drive them toward nonbanks, said Pablo DeFilippi of Inclusiv Network and other experts.

Just a few years ago, there was no organization for LGBTQ credit union executives and employees, nor was there anyone openly out on the stages of credit union conferences — until Linda Bodie, CEO of Element Federal Credit Union in West Virginia, asked them to make themselves known.

New research shows that young Americans are finding it increasingly difficult to buy a home of their own. The co-author of a series of reports will delve into discoveries around the factors why.

Consumers are expected to be their own chief financial officers, and students should be formally prepared for the job like any professional. Banks can support such education programs and reward those who complete them.

Customers who have access to suitable credit and other offerings and know how to use them appropriately can seize economic opportunities, open businesses and contribute to the collective success of communities, F.N.B. chief Vincent Delie Jr. argues.

The complaint seeks unspecified damages over the bank’s mortgage origination and underwriting practices, alleging minority homebuyers were excluded from affordable, low-risk loans.

Citigroup said it exceeded targets it set to increase the percentage of women and Black executives among its ranks.

Adrienne Harris said the New York State Department of Financial Services will concentrate more on issues that have a big impact on people’s pocketbooks. The agency announced a move Monday that will likely save money for consumers who rely on check cashers.

The program is aligned with an initiative Bank of Montreal started in 2019 to double its support for small businesses and female entrepreneurs.

Toronto-Dominion Bank is adding child day care and elder care as eligible expenses for employees’ wellness accounts as lenders battle for talent and try to build workforces with greater diversity.

Citigroup created a new team inside its trading division that will focus on working closely with minority depository institutions and diverse broker-dealers and asset managers.