Diversity and equality

The products MSU Federal Credit Union in Michigan is developing for transgender and nonbinary members also appeal to international and indigenous people, who often go by names that don't match their birth certificates.

CEO Bill Demchak said Thursday that the banking industry has become a "political football," and that lawmakers lack the "backbone" to make broader decisions on climate change and various social issues.

There is a gaping hole in the financial system in North Minneapolis, where people are preyed upon by payday lenders and fringe bankers, according to Debra Hurston, executive director of the Association for Black Economic Power. Hurston is creating a credit union for this community to help break residents out of a cycle of exploitation and debt. But the issue is far bigger than one city, and the opportunity is one that any bank or credit union can seize.

Goldman Sachs Group and its former female employees who sued the company in one of Wall Street’s biggest gender discrimination lawsuits are sparring over whether names of two senior executives mentioned in internal complaints should be exposed.

Through the development of data-driven DEI benchmarks and increased dialogue with both multicultural staffers and customers, these executives are helping to cultivate more representative talent.

The Congressional Black Caucus is requesting a meeting with President Biden to press the case that canceling student-loan debt is a racial equality issue.

Agility Bank, which opens its doors Monday, says it is the first minority depository institution to be women-owned and women-led by design. It plans to serve small-business owners in a digital-first manner.

Nearly half of all small-business owners — and higher percentages of minority entrepreneurs — said in a new survey that they aren’t sure they could come up with the funds to cover an emergency $5,000 business expense. But the results also suggest that the Paycheck Protection Program may have led to more trust in the Small Business Administration.

Agility Bank, formed to serve local businesses operated by women, plans to launch in late May.

Goldman Sachs Group is losing its most powerful Black women, according to new data the firm released in a report on its website.