Wells Fargo CEO Charlie Scharf thinks “there is a very limited pool of black talent to recruit from” for the senior ranks of his banking institution. He later apologized – but we now know what he really thinks.
His outrageous comment got us thinking…
In an age where corporate social responsibility needs to go beyond empty words, we need to take a good hard look at the institutions we’re entrusting to do right by not just our money, but by talented Black job seekers, and our communities as well.
If we did this, we’d recognize that it’s DEFINITELY time to swap banks! And thankfully these options look mighty promising.
The decision to switch banks could mean moving to a Black-owned institution like the national OneUnited Bank, where investing capital in Black-owned businesses is a priority.
Or it could mean joining a credit union such as Hill District Credit Union in Pittsburgh, Pennsylvania, or Hope Credit Union of Jackson, Mississippi, for a community-owned option.
Remember that you deserve to bank with an institution that recognizes the role it plays in either perpetuating or dismantling systemic inequality, which is a direct result of hiring discrimination, redlining, and restricted access to lines of credit.
Dismissing or excusing these problems as too challenging to earnestly address simply will not suffice!