In less than 10 years, the majority of the young workforce will be people of color. The United States expects to be a majority-BIPOC nation by 2044, and our economy depends on the success of all people being able to contribute fully to our financial systems. For banks, this means that the needs and experiences of their employees and consumers will shift rapidly.
However, people of color have been historically excluded from banking practices, and the effect of that legacy is still felt today. For example, 14% of Black households and 10% of Hispanics had no bank accounts at all in 2019, according to the Federal Reserve. In comparison, just 3% of White households were unbanked. People of color are also less likely to get approved for mortgage and small business loans, according to figures from UnidosUS.
On Thursday, March 11, we will examine the issues related to racial equity and banking, understand how banks are regulated, and learn more about the Community Reinvestment Act and other innovative strategies that we can work on together to help close the wealth gap in communities of color.
Featured Speakers:
- Dee Brown, SVP Dallas Partner, Director, M&A Strategy & Transactions at EY Parthenon
- Nate Bennett, CDP, Chief Diversity Officer and Senior Vice President, Head of Talent Acquisition at Comerica Bank
- Brook Sims, Vice President, Commercial Banking Treasury Management, First United Bank – Click Here for Bio
- Celina Peña, Chief of Advancement, LiftFund – Click Here for Bio
- James McGee, President, Southern Dallas Progress Community Development Corporation – Click Here for Bio
Moderated by:
- Prisma Garcia, Director of Capacity Building, SVP Dallas
Special thanks to our sponsors, Something Good Consulting Group and Wright Connatser PLLC, for their support of social impact and corporate social responsibility in North Texas.
