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BlackRock Breaks Wall Street Ranks With Planned Racial Audit

  • Glass Lewis recommends shareholders vote for BofA racial audit
  • Investor withdraws Morgan Stanley proposal after agreement
A Wall Street sign is displayed in front of New York Stock Exchange (NYSE) in New York, U.S., on Friday, March 13, 2020. President Donald Trump said House Democrats aren't giving enough in negotiations on legislation to help Americans deal with the spreading coronavirus outbreak, dashing hopes on both sides that a deal was imminent.
A Wall Street sign is displayed in front of New York Stock Exchange (NYSE) in New York, U.S., on Friday, March 13, 2020. President Donald Trump said House Democrats aren't giving enough in negotiations on legislation to help Americans deal with the spreading coronavirus outbreak, dashing hopes on both sides that a deal was imminent.Photographer: Mark Kauzlarich/Bloomberg
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BlackRock Inc. is breaking ranks with peers on Wall Street by doing a deep dive into its business to see how it may have contributed to racial inequities in the financial system.

The world’s largest money manager plans to undergo an independent racial audit of its operations, following a request from a shareholder. Companies including Airbnb Inc. and Facebook Inc. have taken similar steps in the past few years.