Younger generations are also more diverse than their predecessors, with the share of white Americans falling below 50 percent in the post-Gen Z generation.
Speaking at the ABA Risk and Compliance Virtual Conference this morning, ABA President and CEO Rob Nichols praised the industry’s response to the coronavirus pandemic and emphasized that bankers must respond with equal passion and determination to address longstanding racial inequities.
ABA joined the U.S. Chamber of Commerce and several other financial and business trade groups in urging the Senate Banking Committee to advance the Improving Corporate Governance through Diversity Act.
While the coronavirus pandemic has harmed small businesses across the board, minority small business owners report disproportionately large effects, according to the latest Wells Fargo/Gallup Small Business Index survey.
Wendy Cai-Lee leads one of the latest crop of U.S. de novo banks: Piermont Bank, opened to address “pain points” faced by middle-market businesses.
First Independence Bank was founded 50 years ago to help rebuild Detroit’s economy in the wake of damaging urban violence. Today, in a new era of economic hardship due to the coronavirus pandemic, and protests and unrest in response to incidents of racial injustice, minority depository institutions continue to have a unique role in serving distressed communities.
My hope for the financial industry is that we all intentionally make space for everybody. Especially when they’re a little different.
Financial performance among minority depository institutions remained sound through the end of 2019, according to the FDIC’s annual report on preserving and promoting MDIs.
In a joint message to ABA member bank CEOs today, ABA Chair Laurie Stewart and President and CEO Rob Nichols addressed the killing of George Floyd and other recent instances of racial injustice and inequity that have taken place across the nation and shared how the association intends to respond.
ABA this morning announced a strategic partnership with the National Bankers Association to promote the health and well-being of minority depository institutions.