New program will look at banking and other financial services industries.
Treasury Secretary Janet Yellen announced the hiring of a former JPMorgan Chase executive to head a new government program aimed at combating racial inequity issues. Janis Bowdler will be the department’s first counselor on the program which is part of a multi-pronged strategy by the Biden administration to deal with systemic racism found in parts of the economy.
Banking and finance have a history of issues with racial inequity from the lack of representation of Blacks and other minorities at the highest levels of companies to ongoing issues of getting equal access to services for non-white borrowers, the secretary said.
“Treasury must play a central role in ensuring that our economy recovers from the pandemic, it recovers in a way that addresses the inequalities that existed long before anyone was infected with COVID-19,” Secretary Yellen said in a statement.
As the Lord Leads, Pray with Us…
- For Secretary Yellen to seek God’s wisdom as she evaluates the needs of the U.S. financial system.
- For Counselor Bowdler as heads the program to address racial inequities in the banking and finance industries.
- For the president’s administration as they seek to further racial equity.
Sources: US News & World Report, Washington Examiner
