Discrimination, Disparities, and Diversity in Finance

In 1964, U.S. President Lyndon Johnson signed the Civil Rights Act, making discrimination on the basis of sex, race, religion, or national origin illegal. Much has been achieved since then to reduce disparities and discrimination in financial markets and the corporate world, yet some of these practices persist. Why is that? After almost sixty years of “equal-opportunity statements” inserted in job advertisements across America and other countries, are companies preventing discrimination and aiming to foster diversity? And are lenders seriously addressing the disparities in the supply of credit observed between different racial groups?