Greenlining urged the committee to promote greater transparency regarding diversity in the banking industry, stating:
- Diversity and inclusion are the building blocks of a fair society. Numerous academic and private-sector studies have shown that diverse businesses outperform homogenous organizations time and time again;
- Transparency in an institution’s approach to diversity does not require any change to that institution’s business plan or practices, it merely gives consumers in our diverse nation the ability to fairly evaluate where they spend their hard-earned dollars; and
- By 2040, the US will be majority people of color. Our communities have a right and responsibility to contribute to our nation's public, private, and non-profit sectors, and transparency data can help make clear where our participation is lacking.