Pub. 15 2020-2021 Issue 2

WWW.NEBANKERS.ORG 10 WASHINGTON UPDATE Rob Nichols, President and CEO, American Bankers Association Running Toward the Challenge I SRACISMBAKEDINTOOURNATION’SSYSTEMSOFJUSTICE,HEALTH and education, or are there disproportionate correlations between race, poverty and crime? Are people too quick to accuse others of racism, or are those in positions of power too slow to recognize their role in perpetuating racial inequi - ties? Is it fair that I posed these as either/or questions, or is all of the above true? While issues surrounding racial justice and inequities are demanding the nation’s attention, honest conversations seem too perilous to hold because of the way some frame the debate as binary. But that ignores the vast common and principled ground on which we all stand and distracts from a focus on meaningful solutions. Bankers are community leaders, whichmeans you run toward a challenge, not away from it. So as fraught as the situation may feel, ABA is engaging in an open dialogue of how the banking industry, both as employers and as facilitators of wealth creation, can further the principles everyone agrees on: That all Ameri - cans should have a truly equal opportunity to prosper and that economic inclusion is essential to creating such opportunity. Implicit in this discussion is the belief that we each have a role to play in addressing longstanding inequities. Some may feel the problem lies elsewhere — in another community, city or state — and therefore, so must the solution. Others may think they’ve done all they can with either a great or limited effect. But we are an industry that, in recent years, has developed entirely new ways of banking, and in recent months demonstrated re - markable fortitude and commitment to serving our customers through the pandemic. There is more we can — and must — do to address disparities and promote prosperity for all. Many banks recognized this long before the pandemic hit and disproportionately harmed Black Americans, and long before the nationwide protests over the killing of George Floyd and others. Some in recent years have built rigorous diversity, equity and inclusion programs that are both inward-facing (fo - cused on employees) and external facing (focused on customers, communities and vendors). Some have pioneered new ways to qualify borrowers and bring those who have been marginalized into the banking system. We celebrate them every year with the ABA Foundation’s Community Commitment Awards. Still others