Pressley Presses for Audit of Racial Equity Pledges
Rep. Pressley (D-MA) late yesterday sent letters to the five largest US banks requesting a comprehensive financial audit of the racial equity pledges made after the George Floyd murder. She requests detailed updates on how the commitments have been met along with any changes to the bank’s offerings. The letter also criticizes banks for continuing to entrench racial-wealth disparities by diminishing Black-owned businesses access to credit, “modern day redlining,” and increasing the amount of unbanked and underbanked households by closing physical bank branches in majority Black neighborhoods. Responses are requested by October 23.