Sen. Pat Toomey of Pennsylvania, the top Republican on the Banking Committee, told three Federal Reserve regional presidents that a series of events tied to the impact of racism on the job market and housing systems is not within the scope of the central bank.

Last year, many banks made big, splashy pledges to advance racial equity. Now some of those banks are seeking to hold executives accountable for those efforts through their paychecks.

Under a plan signed into law in March, the agency will first target direct loans that it has made to socially disadvantaged farmers. Guidance that will affect small banks that have made government-backed agricultural loans is due in 120 days.

The feature prints users' preferred name on credit and debit cards, and is live in the U.S. with Citigroup, BMO Harris and Superbia Credit Union.

Bank of America is expanding a mortgage program for low- to moderate-income homebuyers in an effort to address racial wealth gaps.

The Dallas bank appointed Sonya Trac to lead business development in communities that have been hit hard by both the pandemic-induced recession and a recent wave of discrimination. It is also depositing $2.5 million at a Los Angeles bank that serves Asian Americans.

Daylight, a digital banking platform for the LGBT community, uses its customers’ preferred names on debit cards rather than their legal names. Through a new social media campaign, the company is encouraging the American Bankers Association and its members to do the same.

Minority-led community development entities often lose out in getting NMTC support. They know best which investments will have the greatest impact on communities of color.

Many big companies have made pledges to diversify their workforces, treat minority communities more fairly and clean up the environment to burnish their images, says Meredith Benton, CEO of the consultancy Whistle Stop Capital. But few are willing to share data to prove it's all more than a PR campaign, she says.

Eighteen months after launching Second Chance in Chicago, JPMorgan is bringing the recruitment effort to Columbus, Ohio.