Bank CEO’s Remark Shows Leaders Still Believe the “Lack of Black Talent” Myth

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When the head of one of the nation’s largest banking corporations recently made a remark about Black employees, he did much more than trigger a controversy. He cast a spotlight on a pervasive myth that still holds back diversity at businesses nationwide, across numerous sectors.

“While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of black talent to recruit from,” Wells Fargo CEO Charlie Scharf wrote in a company memo in June. Reuters saw the memo and reported it days ago, setting off all sorts of angry responses. Rep.

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