Beneficial State Foundation Launches Feedback Period for Equitable Bank Standards

Beneficial State Foundation has officially opened a public comment period for our Equitable Bank Standards, which were first introduced in 2022. The Standards aim to outline and promote measurable progress toward social and environmental practices within the banking sector. During this period, we seek feedback on the clarity, ease of use, and impact of the Standards, specifically focusing on how effectively they advance racial and economic justice. Additionally, we invite suggestions for potential revisions and enhancements. Our objective is to gather diverse perspectives to ensure the Standards are practical, user-friendly, and capable of driving real change toward a more equitable and environmentally regenerative banking industry. The feedback window will remain open through December 3, 2024.

About the Public Comment Period

Since launching the Equitable Bank Standards, the financial industry has undergone significant shifts, as has the marketplace for guidance on banking best practices. As we prepare to revise the Standards in 2025, we want to hear from you—our peers in the banking sector—about what is necessary for financial institutions to foster an equitable and regenerative future. Share your insights on which aspects of the Standards resonate with you, and what should be refined or added to create tangible, lasting change. Your contributions will be invaluable in helping us enhance the Standards to be more user-friendly and practical for industry implementation.

Establishing the Standards

The Equitable Bank Standards were developed through an iterative process of research and stakeholder engagement. Contributors include financial industry professionals, values-based banking associations, academics, policy advocates, technical experts, racial equity specialists, and financial justice activists. Beneficial State Bank, as a key partner, has also provided invaluable insights throughout this journey.

Be a Part of Progress

To lend your voice to the future of the Equitable Bank Standards, you can take a short survey, participate in a 1:1 interview, or join a roundtable discussion.

Start shaping a better tomorrow, today: bit.ly/ebspubliccomment.