Citigroup Becomes 1st Wall Street Bank to Commit to ‘Racial Equity’ Audit

People walk past a Citibank branch in New York, New York, USA, 16 January 2020. Citibank in New York, USA - 16 Jan 2020Mandatory Credit: Photo by JUSTIN LANE/EPA-EFE/Shutterstock

Citigroup agreed to undergo an independent “racial equity audit,” the bank announced on Oct. 22.

“We believe that by advancing our commitments to help close the racial wealth gap in the United States, we can have a meaningful impact on our colleagues, clients, and the communities we serve,” the bank said in a statement. “Measurement and transparency are important components of the work we are doing to advance diversity, equity, and inclusion, both at our bank and through our contributions to our communities and society more generally.”