CBA's Commitment to Equality

Nick Simpson

CBA Commitment to Racial Equality

 

WASHINGTON – Following a meeting of the Consumer Bankers Association Board of Directors, CBA issued the following note reiterating the association’s commitment to racial equality:

 

“Everyone who participated in this week's Board meeting has been moved by the protests we have seen over the last several weeks brought about by the deaths of George Floyd, Ahmaud Arbery, Breonna Taylor and many others. Staying silent is easy, but as leaders of CBA and the CBA Board, we believe it is our obligation to speak out against inequality, systemic racism and discrimination in all forms. It is also our obligation to be part of the solution by reaffirming our shared commitment to promote racial equality in our industry and across the country.

 

“As an association, we are committed to ensuring banking services are available to all Americans and that the nearly half billion dollars invested in LMI communities through the Community Reinvestment Act reach more people and communities in need, especially communities of color in low and moderate income areas. We will renew and elevate our efforts to be deliberate in hiring decisions, promotions and who our institutions select for professional development opportunities, like CBA Executive Banking School.

 

“These steps are not the only solution, but we are proud of the work already being done. At CBA, more than a third of our Board are women or minorities and we strive to ensure diversity among our committee leadership. Yet we know we must do more as this alone does not solve the problem. It does, however, help ensure a cross-section of views and backgrounds are represented when we make decisions as an association. Most importantly, it helps us understand other points of views – something that is all too often missing from this debate.

 

“Just as CBA and the Board is committed to serving the banking industry, we are also committed to serving its customers. During these unprecedented times, the role our member banks play in the communities across the country to live out CBA’s mission of financing the dreams of consumers and small businesses has never been more important or necessary.”

 

Nitin Mhatre

CBA Board Chairman

Webster Bank

 

Richard Hunt

President and CEO

CBA

 

 

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About the Consumer Bankers Association:

The Consumer Bankers Association represents America’s leading retail banks. We promote policies to create a stronger industry and economy. Established in 1919, CBA’s corporate member institutions account for 1.7 million jobs in America, extend roughly $4 trillion in consumer loans and provide $275 billion in small business loans annually. Follow us on Twitter @consumerbankers.