San Diego Man Says He Experienced ‘Banking While Black’ In Local Bank of America Branch
...Regardless of what might be considered standard industry practice, advocates say accusing a Black customer of stealing without evidence and even pretending to call the police could be racist.
“It's unfortunately not uncommon for us to hear stories of racialized and racist behavior in financial institutions,” said Hudson Munoz, a research analyst with the Committee for Better Banks. “It is a problem when the first response at any organization is to involve the police rather than to treat the customer as a truthful person, especially given the materials that this person had to back up the identity.”
Munoz said banks can improve how they treat customers by hiring and promoting people of color. A recent study by the Committee for Better Banks found that people of color do not get promoted as frequently as their white colleagues. Blacks, Latinos and Asians are more likely to hold entry-level jobs and remain stuck in those positions.
“Racial bias runs deep: combating bias and providing diverse opportunities requires expansive policies,” stated the report, titled "Advancing Racial Justice for Frontline Bank Workers."
Budd Got Loans And Cash And Boosted Bank Merger — Before Mass Layoffs
Bank branch openings in U.S. leave behind minority neighborhoods - study
Report: Large banks opened far fewer branches in minority areas since 2010