Capital Calls: Bank of America, WeWork, Kering
– Kering rebounds Dodging the question. Sometimes democracy brings change. At Bank of America, it brought more of the same. The bank’s shareholders voted on Monday against a proposal to audit the lender’s impact on communities of color, according to a preliminary tally. That will please rivals JPMorgan, Wells Fargo, Citigroup and Goldman Sachs, whose shareholders face the same question in coming weeks. They should see it as only a temporary reprieve. Big U.S. banks are keen to tout their efforts to improve diversity and boost lending to marginalized communities, yet many have been twitc...
Source: breakingviews.com
