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Racial Equity in Banking Starts with Busting the Myths
Report

Racial Equity in Banking Starts with Busting the Myths



Editorial Rating

9

Qualities

  • Innovative
  • Eye Opening
  • Concrete Examples

Recommendation

In this timely and informative report, professionals at the Boston Consulting Group describe the reasons for the glaring racial disparities in access to conventional banking services. The authors point out that, due to financial firms’ role in capital provision, they can address racial inequality by, among other roles, refocusing their efforts on business development and financial advice in communities of color. This cogent analysis carries important insights for financial professionals.

Take-Aways

  • Assumptions about the unbanked and underbanked in America are flawed.
  • Alternative financial services fill economic gaps in minority communities.
  • Banks need to step up to provide equitable solutions.

About the Author

The Boston Consulting Group is a leading global consulting firm.