Diversity and equality

For fintech to achieve its true potential of democratizing financial access for all, we need diverse viewpoints among fintech founders, board members and advisors.

Financial inclusion cannot be allowed to become a meaningless set of buzzwords. Strong economic growth and future prosperity hinges on the ability of everyone in society to access financial services.

Central bank digital currencies have the potential to improve financial inclusion for women, but only if they are combined with a system that lowers multiple other barriers to their financial empowerment.

The challenge comes on the heels of decisions from judges in Maryland and California ruling in favor of laid off probationary employees.

The Consumer Financial Protection Bureau asked a federal judge to vacate and set aside a settlement against a Chicago mortgage lender, accusing the CFPB of misconduct in a case brought under former Director Kathy Kraninger, a Trump appointee.

The largest U.S. banks are facing shareholder votes on a number of politically charged issues — some backed by conservative groups and others championed by organizations with a more progressive bent.

The number of shareholder proposals appearing in banks' proxy statements is down significantly this year, due to Trump-era regulatory changes and new concerns about political blowback.

The largest U.S. bank will now call the initiative Diversity, Opportunity & Inclusion, or DOI, Chief Operating Officer Jenn Piepzak said in a memo to staff Friday.

The Trump administration's attack on diversity, equity and inclusion programs raises the question: Will big banks continue their support of minority depository institutions?

"We have made certain adjustments to reflect developments in the law in the U.S.," Chief Executive Officer David Solomon said.

Wells Fargo joins Bank of America, Citi and Charles Schwab in stepping away from its DEI policies.

Banks' latest annual reports, filed in the early weeks of the second Trump administration, provide a window into how the industry is adjusting to a new political climate.

The New York megabank facilitates much of the U.S. government's payment network domestically and internationally, making it a major federal contractor and vulnerable to the Trump administration's scrutiny.

Texas and nine other Republican-led states are ratcheting up pressure on Wall Street's diversity programs, asking firms about their policies on hiring and supplier selections as the Trump administration moves to gut DEI.

Women in the payments industry are using the advent of real-time payment networks to help underserved women around the world gain access to vital financial services.

The president-elect's history of deregulatory financial services policies could offer some benefits to minority businesses and consumers, but the more likely outcome is reduced access to capital and higher costs.

Banks can and should play a key role in giving members of minority groups and other underserved communities the tools they need to navigate an increasingly complicated financial landscape.

The custody bank achieved its goal for the amount of deposits it placed into minority banks and community development financial institutions by the end of the year.

Cross-border person-to-person payments are vital to the survival of millions of vulnerable people. Right now, fees eat away at their money, and slow processing times create unnecessary stress. The financial services industry and partners in government can fix this problem.

Banks will feel the fallout from a court's decision to strike down a Nasdaq rule that would have mandated more disclosure about the racial and gender composition of corporate boards.