The Financial Industry is Fighting Workplace Diversity
From Ring of Fire:
Movies portray Wall Street banksters as slick, white guys with nice hair, wearing gray and navy suits and practically no minorities present. This stereotype is actually true. Eighty-one percent of management positions are held by individuals fitting the Wall Street stereotype, or something..
In 2010, Congress passed the Dodd-Frank reform, in order to place some restrictions on Wall Street operations and avoid another crash like the one that occurred in 2008. Dodd-Frank included a provision designed to boost racial diversity in the financial services industry. The provision created Offices of Minority and Women Inclusion within each of the government’s financial regulation groups like the Department of Treasury and Securities and Exchange Commission.
Corporate entities and the Chamber of Commerce have cried foul at the act saying it only leads to “reverse discrimination.” In a complaint letter sent from top financial lobbyist entities, the financial industry opposed alterations in hiring, openness to diversity, and company self-assessments requested by the provision.
You can read the full article here at Ring of Fire.