Diversity and equality

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.