Black Americans underrepresented in senior management at giant banks
White Americans are three times more likely than Black Americans to have a prime credit score. They're also disproportionately likely to end up in senior management at a giant bank.
By the numbers: "In our survey, just 19% of Black respondents and 42% of Latinx respondents indicated a prime credit score, compared with 60% of white respondents," Financial Health Network said in its FinHealth Spend Report 2021.
- If those numbers were in line with the U.S. population as a whole, then 76.3% would be white and fully 13.4% would be Black.
- "We understand that we have more to do to fully reflect society," says Jeff Brodsky, Morgan Stanley's chief human resources officer.