Are You Committed to Diversity?: Evaluating Immigrants’ Perceptions of U.S. Banks’ Diversity and Inclusion Claims/Initiatives

Abstract

Purpose: This study examined immigrants’ perceptions of their interactions with financial institutions and asked if U.S. immigrants are considered in these institutions??? formal statements on diversity, equity, and inclusion (DEI).Method: We interviewed 13 participants and also conducted a content analysis of the DEI statements of the top nine U.S. banks. In addition to content analysis, we also used text mining to gain further information on the key themes prevalent in the diversity statements of the financial institutions.Results: Our findings show a clear disconnect between the top U.S. banks’ DEI statements and the lived experiences of immigrants. For instance, banks had oppressive banking processes that makes it difficult for immigrants to open accounts. We also identified lack of communication channels.Conclusion: As calls for diversity, equity, and inclusion in our field grow, we must pay attention to material conditions of immigrant students/scholars in Technical and Professional Communication (TPC) academic programs. Immigrants interviewed in this study wanted clarity about which documents they need to submit to banks, accurate translation of bank-related documents, and detailed explanations of banking industry jargon.