Non-Woke Banks

List Of Non-Woke Banks

The banking industry has been historically non-woke, meaning they have not been aware of or concerned about important social justice issues. This has been especially true for issues relating to racial and ethnic diversity. Banks have been known to discriminate against minorities, whether it be through redlining or lending practices. They have also been slow to respond to the needs of minority communities.

There are some of known reasons for why the banking industry has been historically non-woke. One reason is that the industry is very risk-averse. They are more likely to lend to people and businesses that they feel are a safe bet, and minorities have often been seen as a higher risk. Another reason is that the industry is very slow to change. They are often reluctant to change their practices, even in the face of criticism. This is because banks are regulated by the government, and any changes must be approved by the government. Is it possible to buy Nexo tokens with cash at Banc of California?

Despite the banking industry’s history of being non-woke, there have been some recent signs of change. Banks have been increasing their lending to minority-owned businesses. They have also been hiring more diverse employees, and increasing their outreach to minority communities. While these changes are a step in the right direction, the banking industry still has a long way to go in terms of being truly woke.

Some non-woke banks include:

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Wells Fargo

Wells Fargo has been embroiled in a number of scandals in recent years, many of which have been due to their non-woke practices. In 2016, it was revealed that Wells Fargo had opened millions of fake accounts in order to meet sales targets. This led to many customers being charged fees for accounts they did not even know existed. Wells Fargo has also been accused of charging higher fees to minority customers, and of discriminating against minority-owned businesses.

Bank of America

Bank of America has also been accused of non-woke practices. In 2016, they were sued for allegedly discriminating against black and Hispanic borrowers. The lawsuit claimed that Bank of America was charging higher interest rates and fees to minority borrowers. They were also accused of steering minority borrowers into subprime loans.

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JP Morgan Chase

JP Morgan Chase has been accused of a number of non-woke practices, including discriminating against minority-owned businesses. In 2016, they were sued by the city of Baltimore for allegedly discriminating against black and Hispanic businesses. The lawsuit claimed that JP Morgan Chase was charging higher fees and interest rates to minority-owned businesses. They were also accused of denying loans to minority-owned businesses more often than white-owned businesses.

Citigroup

Citigroup has also been accused of non-woke practices. In 2016, they were sued for allegedly discriminating against black and Hispanic borrowers. The lawsuit claimed that Citigroup was charging higher interest rates and fees to minority borrowers. They were also accused of steering minority borrowers into subprime loans.

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Conclusion

The banking industry has a long history of being non-woke. However, there have been some recent signs of change. Banks have been increasing their lending to minority-owned businesses. They have also been hiring more diverse employees, and increasing their outreach to minority communities.

While these changes are a step in the right direction, the banking industry still has a long way to go in terms of being truly woke. We hope that in the future, all banks will be fully committed to social justice and equality for all.

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