Diversity and equality

Lenders stock up on masks, Plexiglas barriers and cleaning supplies; lawmakers hope recent fixes will attract more borrowers, but small businesses remain wary after constant changes.

The central bank is only now nearing the launch of the credit facilities after the effort was announced in April. But Chairman Jerome Powell said loans have been available through other means.

Twitter Inc. and Square Inc. will observe Juneteenth or June 19 as a company holiday going forward to commemorate the ending of slavery in the U.S., according to a tweet from Jack Dorsey, chief executive officer of both companies.

A blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic.

The global protests in the wake of George Floyd’s death should serve as a reminder that the banking industry must do more to support minority employees and customers.

Industry figures have begun to speak out in support of demonstrations in the wake of the deaths of George Floyd and other African Americans, and new data is expected to show how the coronavirus impacted balance sheets.

Acting Comptroller of the Currency Brian Brooks says financial institutions are needed more than ever to “sustain existing businesses” and help entrepreneurs rebuild. Meanwhile, reforming the Community Reinvestment Act, he says, can “unblock opportunities” in minority neighborhoods.

Lenders have a role to play in the national reconciliation that must follow the recent racial unrest — providing greater access to capital for African Americans and other underserved groups so they can build wealth, activists said at a panel discussion hosted by Berkshire Bank in Boston.

The Credit Union National Association has been directed to work with the entire industry to find ways to address discrimination experienced by African Americans.

The demonstrations following George Floyd's death in police custody are forcing the industry to grapple with how it can — or if it should —advocate for equality and better race relations.

Financial institutions are trying to determine how to best protect branches as some demonstrations following George Floyd's death turn violent.

The program is intended to aid businesses hit hard by pandemic-induced lockdowns, but lenders are lobbying to have the rules relaxed to help owners of stores and offices damaged by recent riots and looting.

Rodney Hood, the first African American to lead a banking agency, said in a deeply personal statement that he was "familiar with the anger and frustration that comes with the everyday challenges and realities surrounding race."

Bankers spent Monday cleaning up damaged branches, wondering if their small-business clients will need more emergency aid and contemplating how the racial and economic inequalities highlighted by days of violent protests nationwide can be corrected.

The chiefs of some of the biggest U.S. banks called on their workers to fight racism after an unarmed black man died as a result of a white police officer kneeling on his neck, prompting nationwide protests.

If the agency hadn’t revised the 1977 law now, nothing would be done for communities in need that are struggling even more in the coronavirus pandemic, writes Faith Bautista, CEO of the National Diversity Coalition.

The regulator has formed the Culture, Diversity and Inclusion Council, which will conduct a survey of NCUA's culture to identify areas that need improvement.

The JPMorgan Chase CEO said he hopes policymakers use the COVID-19 crisis as a catalyst to rebuild a more inclusive economy as the pandemic exposes stark inequalities among Americans.

Black and Latino business owners were less likely to get loans than overall borrowers, survey states; Atlanta Fed president tells lenders they won’t be second-guessed if they do right by borrowers.

In a still male-dominated industry, does the network help attract and keep more women at the firm? CEO Shirl Penney says yes and has the results to prove it.