Despite plans from the banking industry to add more than one million jobs between now and 2020 and data revealing that Blacks are obtaining more finance degree than ever, top banks are still lacking in diversity.
The NAACP has released a report card, which has graded the five largest banks (Wells Fargo, Bank of America, Citibank, Bank of America, and JP Morgan Chase) on their diversity in employment. According to the press release, “top management positions remain firmly dominated by white employees.”
Dedrick Asante-Muhammad, NAACP Senior Director of the Economic Department, spoke with NewsOne Now about the disparity.
“There has been regulation from the Dodd-Frank Act which is making banks have to look at their diversity practices,” said Muhammad. “And we’re hoping this report card will help get them jumpstarted in doing this. We’re going to have follow up with each of the individual banks talking about where they need the most improvement. We’re hoping to pull a summit of all of the banks where we can bring them together so they can say what type of new commitment can all these top five banks say they’re going to do around diversity as we had done a few years ago one by one with responsible mortgage lending.”
Watch the entire discussion below: