Escaping the Old Boy Network - The Banking Industry and Supplier Diversity

California’s largest banks buy few goods and services from minority-owned businesses, according to the first study to ever examine such contracting in detail. In a state where people of color make up 60 percent of the population, banks obtained less than eight percent of the goods and services they procured in 2012 from businesses owned by African Americans, Latinos, Asians or Native Americans.

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