Banks Can Leverage their Existing Infrastructure to Boost Equity
Developing new products with CDFIs and other nontraditional financial institutions will limit risk to banks and open doors to new customer bases in a responsible way.
Pandemic, Segregation Show Need for National Housing Agenda, Harvard Researchers Say
The economic problems caused by the COVID-19 pandemic and social unrest sparked by racial injustice shows the need for national politicians to take housing issues seriously, a new report by prominent Harvard University housing scholars says.
NAR Board OK’s Controversial Hate Speech Policy
The National Association of Realtors’ board of directors voted Friday to approve a new policy that bars members from using “harassing or hate speech” anywhere, at any time.
Realtor, Bankers, Developers Among MetroWest’s ‘Most Influential Business People of Color’
A new initiative by the Newton-Needham Regional Chamber of Commerce has identified several prominent members of the banking and real estate industries as being among the 50 most influential businesspeople of color in the MetroWest area.
BofA Receives No-Action Letter for Consumer Loans
Bank of America will be able to offer small loans to customers under certain guidelines without facing enforcement actions from the Consumer Financial Protection Bureau.
Greater Boston Chamber Joins Mentorship Network for Black Professionals
The Greater Boston Chamber of Commerce says it has entered into a partnership with Boston While Black, a new membership network for Black professionals, entrepreneurs, & graduate students, founded by Sheena Collier and also known as BWB.
New Home, New Brand for Building Trades Nonprofit
A nonprofit that helps disadvantaged young people in 18 countries find careers in the building trades is moving to a newly-completed headquarters in Roxbury and rebranding itself to reflect a broadening mission.
COVID Won’t Eliminate Two Major Problems
The banking and real estate industries are grappling with massive uncertainty about the future of their businesses right now, but COVID-19 won’t change two things: the imperative to help fix systemic racism and stave off dramatic climate change.
Diversity is Not a Cost Center
Since George Floyd’s death, many banks have leapt forward with billions in pledges to communities of color. Those actions should be praised, but lenders must look beyond addressing racial diversity and economic inequality with charity if they want to thrive in a changing America.
FDIC Report: Gains in Bank Access Overshadowed by COVID
More Americans than ever obtained a basic bank account in 2019, the Federal Deposit Insurance Corp. said Monday. But data was gathered before the outbreak of the coronavirus pandemic and start of this historic recession.
Report: Priced Out, Black and Latino Homebuyers Moving to Gateway Cities
A new study is raising alarm about trends among Black and Latino homebuyers that its authors say could worsen the state’s racial wealth gap.
Wells Fargo CEO Apologizes for Hiring Diversity Complaints
Wells Fargo CEO Charles Scharf apologized Wednesday for comments he made suggesting it is difficult to find qualified Black executives in the financial industry.
Urban Heat Islands Reflect Racial, Social Inequity
The dangerous and racially unequal effects of urban heat islands can be reduced with a concerted effort involving the real estate, design and engineering fields – and a commitment from local governments.
Westfield Bank Appoints Its First Female Board Chair
Westfield Bank earlier this year appointed Lisa G. McMahon as the first female board chairperson in the bank’s 167-year history.
OneUnited Bank Receives $10M from Biogen
Cambridge-based biotechnology company Biogen Inc. is investing $10 million in OneUnited Bank to support the Boston-based bank’s focus on Black economic empowerment.
Survey: Financial Industry Leaders Struggle to Create More Diverse Workplaces
Financial services leaders are committed to creating a more diverse, equitable and inclusive workforce, but they still struggle with how to take meaningful actions that have a real impact, according to research recently conducted by BAI, a nonprofit independent banking industry research organization.
Greylock CU Joins Movement for Black Financial Equity
Pittsfield-based Greylock Federal Credit Union announced it has joined the African American Credit Union Coalition, and plans to take a steps to strengthen access to financial services for Berkshires residents of color.
Can More Diverse Boards Help Fix Segregation?
The national examination of our country’s racist past has sparked growing interest and debate over dusty, decades-old zoning rules suburban communities in the Boston area have thrown up over the years to bar construction of apartments and affordable housing.
With Fewer Blacks in Real Estate, Attention Turns to Recruitment
In recent months, big national brokerages have stepped up diversity and inclusion efforts, aiming for personnel that more accurately reflect current American demographics. But many challenges lie ahead that are tied to the nature of the residential real estate industry.
A Missed Opportunity for CRE Industry
In the Boston-area commercial real estate development, brokerage and architecture sectors, equity and inclusion efforts have been slow to gain traction despite a decade-long economic expansion and steady job growth.
This Week’s Newspaper
