Diversity and equality

JPM’s CFO says trading, investment banking revenue better than expected; the bank will pay $192 million to settle charges it helped customers hide assets.

BMO Harris Bank in Chicago recently became the first financial institution to offer a Mastercard that allows transgender and nonbinary people to use their preferred names. Members of that community often experience disproportionate financial hardship, in part because of employment discrimination.

BMO Harris Bank in Chicago recently became the first financial institution to offer a Mastercard that allows transgender and nonbinary people to use their preferred names. Members of that community often experience disproportionate financial hardship, in part because of employment discrimination.

Issuers have started adding metal to their credit cards; banks have been “slow” to add diversity in executive ranks, filings suggest.

The CFPB has promised an equal-access rule for small-business lending for nearly a decade. But Apple’s recent discrimination inquiry into its credit card could force the agency’s hand.

Democratic Senators Elizabeth Warren and Sherrod Brown want the Consumer Financial Protection Bureau to examine allegations of bias against women who applied for an Apple credit card underwritten by Goldman Sachs.

The $26 billion all-stock deal has the OK of the boards from both companies; the administration says it will move on privatization without federal backing.

House Democrats described the disparate impact standard as "the most important tool" for enforcing the Fair Housing Act.

Bank of America says in a 23-page report that it has boosted the percentage of women and people of color among senior management and hired thousands of people from low- and moderate-income communities.

The CFPB has promised an equal-access rule for small-business lending for nearly a decade. But Apple’s recent discrimination inquiry into its credit card could force the agency’s hand.

The Boise-based credit union is the fourth institution in the Northwest to receive the recognition.

Allegations of gender bias are the tip of the iceberg of a very big problem that faces artificial intelligence and goes far beyond the financial services sector, says Temenos' Hani Hagras.

The FDIC and the Fed have yet to sign on to the plan; this year’s managing director class includes fewer overall, but a higher percentage are women.

The male-dominated finance industry is missing out on more than $700 billion a year in revenue by failing to listen to or tailor products for women, according to the management consultancy Oliver Wyman.

The New York State Department of Financial Services is opening a probe into Goldman Sachs' credit card practices after a viral tweet from a tech entrepreneur alleged gender discrimination in the new Apple Card's algorithms.

Eric Blankenstein, who resigned from the Consumer Financial Protection Bureau in May after the discovery of his racially charged writings, was named acting executive vice president of Ginnie Mae.

The regulator’s inaugural event on equity and inclusion highlighted the personal and professional but also veered into addressing hurdles credit unions face regarding this issue.

There are several steps bankers can take to help create an environment that supports women in tech, an area historically dominated by men.

By understanding how bias becomes embedded in how we lead, recruit and advance others, we can change patterns and create inclusive organizations, says Wnet's Lisl Dutterer.

The National Credit Union Administration is hosting an event on equality and inclusion, which will include industry leaders discussing best practices for embracing these ideals.