Diversity and equality

Citigroup is now the third, and largest, U.S. financial institution to offer the Mastercard True Name feature, which lets customers use their preferred name, rather than their legal name, on credit and debit cards. The cards are targeted specifically for transgender and nonbinary people, who often face outsized financial hardship.

Citigroup is now the third, and largest, U.S. financial institution to offer the Mastercard True Name feature, which lets customers use their preferred name, rather than their legal name, on credit and debit cards. The cards are targeted specifically for transgender and nonbinary people, who often face outsized financial hardship.

Jamie Dimon, the chief executive of JPMorgan Chase, said he’s optimistic a Biden presidency could solve problems including health care and economic inequality without damaging businesses.

Racial and gender representation increased in most areas of the company, including among senior management, according to data the bank released Friday. Still, the percentage of women in the top three tiers of the firm remained unchanged from a year earlier at 41%.

Jane Fraser, President of Citigroup and CEO of Global Consumer Bank, shares her thoughts on becoming the firm’s next CEO, expresses her gratitude for the outpouring of support she’s received, and pays homage to all the women who have paved the path before her.

To help stop a cycle of systemic racism, bankers need to focus on advancing Black employees to leadership positions and create long-term relationships with Black-owned businesses.

Ray McGuire, one of Citigroup’s top investment bankers, has been vocal about his ideas for improving education and access to health care in low-income and minority neighborhoods.

The unit as of September had 20% more clients than a year earlier. Liu, who is head of North America for Citi Private Bank, explains the changes she’s made to help her group attract and serve millennials, Gen Z, Asian Americans and families.

Banks need to be inclusive at the highest levels, and men in the C-suite need to play an active role in that transformation, says Operation HOPE’s John Hope Bryant.

The Consumer Financial Protection Bureau's overhaul of its Qualified Mortgage standard is alarming free-market advocates who say it will precipitate a return to easy credit and higher defaults and could disproportionately harm minorities.

Jane Fraser, who in February will become the first female CEO of a Wall Street bank, said during a Women in Banking event hosted by American Banker that she will be “the first of many, many more” to come.

Television executive Ryan Glover, rap star Killer Mike and civil rights icon Andrew Young have launched a digital bank for Black and Hispanic consumers called Greenwood Financial.

The company says it plans to originate 40,000 mortgages for Black and Hispanic households and finance 100,000 affordable rental units over five years.

Federal Reserve officials were challenged Wednesday to make big policy changes to combat economic and racial inequality. In response, the presidents of the Atlanta, Boston and Minneapolis reserve banks pledged to shake up some long-held practices.

Any regulator or bank should build from a foundation of diversity, dignity and respect, says Grovetta Gardineer, the agency's head of national bank supervision policy.

New rules on shareholder submissions of proxy proposals could help banks fend off demands to disclose more pay data, cut financing to fossil fuels companies and adopt other reforms.

The Bond Buyer's Rising Stars Week continues as three members of the newly minted class -- Moody's Investors Service senior analyst Adebola Kushimo, Stifel director Roberto Ruiz, and Fieldman, Rolapp & Associates senior vice president Rachel Chang-Kwei -- join moderator Andrew Belinfanti-Knight, a managing director at UBS and a member of the inaugural Rising Stars class of 2016, for a discussion on diversity and inclusion in municipal finance.

The bar to prove discriminatory patterns is so high that plaintiffs would have slim odds of winning lawsuits against housing providers.

The initiative, backed by Vice Chairman Anne Finucane and Chief Operating Officer Tom Montag, is Bank of America’s eighth environmental, social and governance-themed bond.

The American Association of Bank Directors is setting up an on-the-job training program to help banks reach a younger and more diverse group of prospective employees.