[American Banker] Amid an intense period of national outrage over racial injustice and inequality, banks across the country are observing — for the first time — the date that marks the end of slavery in the United States.As if .257% interest rates on passbook savings accounts wasn't enuf to convince us that the banks are no longer our friends.
Fifth Third Bancorp, Truist Financial and others are joining corporations such as Nike, JC Penney and Mastercard in recognizing June 19, or "Juneteenth," as a holiday. Some companies are giving employees a paid day off or closing offices early, while others are planning educational outreach and other events.
"We cannot fix 400 years of injustice with one day," said Stephanie Smith, chief inclusion and diversity officer at Cincinnati-based Fifth Third, which will close offices at 2 p.m. local time Friday. "But we can start taking steps to acknowledge the fact that there is racial inequality and inequity in organizations, corporations and communities and we want to play our part in saying that we’re willing to recognize difficult moments."