The news: In his first 24 hours in office, President Trump issued an executive order to eliminate federal DEI programs, pressuring companies to scale back their initiatives. Several Fortune 500 organizations, including Meta, Walmart, McDonald’s, and Target, have announced reductions or eliminations of some DEI programs, per Business Insider.

How banks have responded: Despite scrutiny, JPMorgan and Goldman Sachs stated at Davos that they’re committed to maintaining DEI initiatives, per MSNBC.

When asked about investors’ push against DEI in a CNBC interview, JPMorgan’s CEO Jamie Dimon responded, “bring them on.”

What this means for banks: Gen Zers watch for brands to walk the walk—they prefer companies with authentic and transparent moral values. 

And Gen Zers are especially conscious of diversity. They’ll notice if they don’t see any young employees they can relate to at the branch, for example. And they’re twice as likely as other generations to consider DEI when choosing where to bank.

Our take: Gen Zers—when deciding on a bank—may research which financial institutions once claimed to support DEI initiatives then later backed away. Banks still examining their commitment to DEI must consider any impacts on their business and relationships with young customers—and other minority groups who are closely watching brands’ actions.

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