Financial Empowerment Network’s Post

The Equitable Bank Standards aim to provide a practical and actionable path for financial institutions to achieve social and environmental impact. Before the comment period ends on December 3rd, the team is seeking feedback on the Standards from people with varied perspectives and roles throughout the system - bankers, regulators, community development leaders, customers, etc. Please share your thoughts with @Beneficial State Foundation by taking a short survey, participating in a 1:1 interview, or joining a roundtable.  bit.ly/ebspubliccomment #EconomicJustice

In 2022, Beneficial State Foundation (BSF) launched the Equitable Bank Standards. Since then, much has changed in the financial industry and the Standards marketplace more generally. As we prepare to revise the Standards in 2025, we want to hear what you believe is needed for financial institutions to better foster an equitable and regenerative future for all communities. Share your feedback on which standards resonate, and suggest any updates, refinements, or additions that can drive meaningful change. Your insights will guide us in making the Standards more practical, user-friendly, and impactful for the financial industry. #EconomicJustice bit.ly/ebspubliccomment

Governor Michelle W. Bowman of the Federal Reserve Board recently delivered a thought-provoking speech on "#Innovation in the Financial System." Her speech highlighted the importance of keeping a balance between financial innovation and maintaining a safe financial system. Here are key takeaways: 📌 #Regulators must understand financial innovations' potential benefits and risks before creating #regulations. 📌Innovation should be a priority for regulators, and they should create an environment that fosters its #development. 📌A clear and consistent regulatory framework is essential for promoting innovation while maintaining the financial system's #safety. 📌Regulators should collaborate with #innovators throughout the innovation lifecycle to provide feedback and share information. 📌A whole-of-government approach is necessary to monitor and manage the risks of financial activity effectively. Ready to learn more? Follow the link below to find out more👇 https://lnkd.in/erdVJkMh #FinancialRegulation #FinancialInnovation #FRB #GovernorBowman #economy #FinancialStability #banks #supervision

"Private credit has been one of the fastest-growing segments of the financial system over the past 15 years. The asset class, as commonly measured, totalled nearly $2 trillion by the end of 2023, roughly ten times larger than it did in 2009. While that total remains a small fraction of the broader fixed-income landscape, private financing solutions continue to perform well—and win, in many instances—against bank and public alternatives." Read  McKinsey’s article to learn more: https://lnkd.in/eb2KQ3DT

🔎What Does “Transparency” Really Mean in the Financial Sector? Transparency is often touted as a cornerstone of trust in the financial world, but what does it really look like in practice? Banks and financial institutions are held to rigorous standards, yet fines for non-disclosure and misconduct continue to surface, even years after the events in question. In an industry where complexity and crisis often collide, can we trust that today’s institutions have truly learned their lessons—or is transparency more of an ideal than a reality? 📊 Poll Question: What’s your take on transparency in the financial sector? 1️⃣ A true priority: Institutions are working harder to be open and accountable. 2️⃣ A challenge: Complexity makes transparency difficult but achievable. 3️⃣ More talk than action: It’s an ideal, but not the reality for most. 4️⃣ An illusion: Transparency is just a buzzword in high-pressure environments. Let us know your thoughts in the poll below and join the conversation!

🔎What Does “Transparency” Really Mean in the Financial Sector? In my latest article with Barclays UK I explore the idea that transparency is often touted as a cornerstone of trust in the financial world, but what does it really look like in practice? Banks and financial institutions are held to rigorous standards, yet fines for non-disclosure and misconduct continue to surface, even years after the events. In an industry where complexity and crisis often collide, can we trust that today’s institutions have truly learned their lessons—or is transparency more of an ideal than a reality? #3MinuteRead #CanWeTrulyTrustBankTransparency

Credit scores play a crucial role in shaping financial opportunities in the United States, but consumers are often unsure about how they are calculated. As complaints about inaccurate credit reports rise, there has been a call to reform the current system. The latest paper by Marshall Lux, Rohan M., and Jack Zoltak explores the growing challenges of credit reporting including: ↘️ Inaccurate information and misuse of reports ↘️ The lack of transparency in credit scoring ↘️ The need for better dispute resolution In their paper, they recommend key reforms, such as: ✅ Simplifying and standardizing the dispute process ✅ Enhancing consumer education and transparency ✅ Expanding access to alternative data ✅ Strengthening consumer rights By addressing these issues, a fairer, more accessible financial system can be created for consumers. Read the full paper for a deeper dive into how meaningful change can be achieved in credit reporting. #CreditReporting #FinancialInclusion #ConsumerRights #FinancialLiteracy #CreditScores #FinTech #FinancialReform

🚨 Understanding the Risks in Today's Banking World and Market Investments 🏦💥 Let’s have a one-on-one conversation to dive deeper into these issues and explore the best ways to secure your future. 👉 Ready to take control of your financial security? (https://lnkd.in/gKSd-svs) #TeleforceSystems #BankingRisks #FinancialDangers #BankingFailures #MarketCrash #EconomicDownturn #ProtectYourAssets #BankingVulnerabilities #InvestmentRisks #HistoricFinancialCrises #BankingCrisis #EconomicInstability #SecureYourFuture #BanksNotSafe #FinancialWarnings #BankingHistory #FinancialDisasters #MoneySafetyFirst #EconomicCollapse #FinancialFailure #SecureYourSavings #BankingBreakdown #EconomicWakeUpCall #BewareOfBanks #DepressionEraWarnings #SafeguardSavings #BankingBubbleBurst #FinancialFragility #MarketMeltdown #BrokenBanks Stay informed and ready to act! 💡💼

🚨 Understanding the Risks in Today's Banking World and Market Investments 🏦💥 Let’s have a one-on-one conversation to dive deeper into these issues and explore the best ways to secure your future. 👉 Ready to take control of your financial security? (https://lnkd.in/gJQ7Q4aC) #TeleforceSystems #BankingRisks #FinancialDangers #BankingFailures #MarketCrash #EconomicDownturn #ProtectYourAssets #BankingVulnerabilities #InvestmentRisks #HistoricFinancialCrises #BankingCrisis #EconomicInstability #SecureYourFuture #BanksNotSafe #FinancialWarnings #BankingHistory #FinancialDisasters #MoneySafetyFirst #EconomicCollapse #FinancialFailure #SecureYourSavings #BankingBreakdown #EconomicWakeUpCall #BewareOfBanks #DepressionEraWarnings #SafeguardSavings #BankingBubbleBurst #FinancialFragility #MarketMeltdown #BrokenBanks Stay informed and ready to act! 💡💼

⭐⭐ Exciting news! Our Financial Regulation Outlook 2025 report has launched. Dive into the key regulatory developments we're anticipating in the Banking, Asset Management and Payments sectors over the coming year by clicking here: https://lnkd.in/ga4uDjGx