Diversity and equality

Gov. Jay Inslee has signed a law that will offer loans to minority borrowers to help cover down payments and closing costs. Supporters say it will benefit groups that were victimized by racially restrictive real estate covenants.

Because the Canadian bank pulled the plug on its takeover of Memphis-based First Horizon, a deal it negotiated with community groups won't take effect. Still, community groups are asking TD to uphold portions of the agreement.

The Cleveland-based bank says it will submit to a racial equity audit conducted by an outside law firm, as Citigroup and Wells Fargo have previously done. The bank's decision follows a request that regulators investigate Key's mortgage lending practices for alleged redlining.

Kaua'i Federal Credit Union in Lihue is launching an "economic resiliency center" for members in the Kapa'a community. It hopes to support minority-owned businesses throughout the area by providing access to housing resources and other funding.

Goldman Sachs Group is in talks to settle a high-profile lawsuit alleging gender pay disparity, ahead of going to trial next month, according to people with knowledge of the matter.

The Minneapolis bank has launched a special-purpose credit program that aims to help businesses owned by women, minorities and veterans. Borrowers with comparatively low credit scores and cash flows will qualify for lending products of up to $2.5 million.

Prosecutors claim every dollar in subsidy funds from settlements equates to ten times the amount in value in home lending efforts.

Texas National Bank in Mercedes, Texas, is testing how alternative data can improve the speed and accuracy with which it lends to its small-business customers.

Minority depository institutions are well-placed to direct money from the Greenhouse Gas Reduction Fund to high-impact projects in underserved communities.

Diversity, equity and inclusion has only grown in importance to the financial services industry over the last few years. For that reason, DEI philosophies are becoming a bigger concern as buyers and sellers try to determine how their corporate cultures might mesh.