"As bank workers and Wells Fargo shareholders, we don't want empty promises," Ted Laurel, an account resolution specialist in San Antonio, Texas, who is Mexican-American, said in a news conference last week organized by the Committee for Better Banks (CBB), a coalition of bank workers, consumer and labor groups.
The racial reckoning in America calling for diversity has touched every industry including banking.
According to a report from the Committee for Better Banks -- a bank workers' advocacy group -- Black and Latino employees have a significantly smaller chance of holding an executive position in corporate banks in comparison to their white counterparts.
New York (CNN Business)The banking industry has a race problem, and a new study is putting a spotlight on the inequalities within the nation's largest financial institutions.
There are “major shortcomings” in how some big U.S. banks are providing financial relief for customers and instituting safety measures for front-line workers during the coronavirus pandemic, according to a coalition of labor unions, employees and advocacy groups.
More than 100 workers at a Tom Steyer-founded bank have won collective bargaining rights in an industry with the lowest unionization rates in the country.
The bank still has far to go on its culture, according to Alex Ross, a Wells Fargo bankruptcy specialist who works to unionize the company with the Committee for Better Banks.
Between ATM fees, overdraft charges, monthly maintenance, and other charges, the typical checking account holder pays $7.69 every month, according to a recent survey from Bankrate.
