Diversity and equality

New brands are emerging to improve banking services to targeted consumer segments, and Daylight is one intent on winning over the LGBTQ market. What are mainstream banks getting wrong that leaves an opening for niche brands like Daylight?

The St. Louis-based institution is the latest in the industry to create an executive-level position focused on diversity, equity and inclusion.

Six startups that seek to cater to Black and Hispanic consumers outside the financial mainstream are attracting heavy interest from investors. However, the new banks will vie with megabanks eyeing those same customers and with established minority-owned institutions suddenly brimming with new capital.

The operation will employ 1,000 people in a predominantly Black community. The move is part of the city's push to create job opportunities beyond the downtown area.

The operation will employ 1,000 people in a predominantly Black community. The move is part of the city's push to create job opportunities beyond the downtown area.

The industry has a key role to play as policymakers push to expand access to affordable financial services for all Americans.

The ongoing national conversation about race and social justice has increased calls for boards of directors that better reflect credit union membership. But any real change won't happen quickly.

Reimagining LGBTQ+ efforts at UBS for improving diversity in their recruitment process

The product — a special class of shares in JPMorgan's Empower money market fund — will initially be distributed by the Harbor Bank of Maryland, Liberty Bank & Trust, M&F Bank and Unity National Bank, according to a statement.

The Madison, Wis.-based credit union will donate $1.5 million to a pair of United Way chapters in the region which will help distribute the funds to organizations serving communities of color.

Goldman’s move follows similar initiatives in recent months by the biggest U.S. financial firms.

President Biden’s executive order requiring agencies to weigh the impact of pending policies on underserved groups could have a lasting effect on issues from reforming the Community Reinvestment Act to fair lending.

Financial inclusion is a key enabler to reducing poverty and Fintech is leading the way forward. New businesses and creative banking services are emerging with new means of providing financial services to the financially underserved. But technology is just part of the equation, not the whole solution. Join Daniel Wolfe, Editor-in-Chief of PaymentSource as he explores the issues surrounding financial services as infrastructure and how it can address the wealth gap in various communities with our special guests Wole Coaxum, Founder & CEO of MoCaFi and Marc Weill, Partner & Senior Advisor at Two Sigma Ventures.

Interim CFPB Director Dave Uejio expressed concern that financial institutions have dragged their feet in resolving disputes with consumers for service issues during the pandemic.

Environmental, Social, and Governance (ESG) principles have moved from nice-to-have to business critical. Hear how Citi is facilitating and driving change.

Aside from the cash infusions, the San Francisco-based bank will assign dedicated teams to provide the lenders with financial, technology and product expertise.

Free financial education programs and easier access to safe small-dollar loans are among the ways banks could help put low-income minority households on a path to prosperity.

Startups such as Majority, Sable and Simba were created by newcomers to the U.S. who learned firsthand which services, including global remittances and financial education, their audience values most.

The North Carolina-based credit union is one of a handful in the industry to prioritize diversity, equity and inclusion at the management level.

After the agency pulled back on fair-lending enforcement in the Trump administration, interim Director Dave Uejio has made clear his intent to use the “disparate impact” standard to launch more anti-discrimination probes.