‘We need to change’ -- Flagstar Bank pushes for measurable diversity to help its communities

Flagstar Bank pushes for measurable diversity to help its communities
Flagstar Bank pushes for measurable diversity to help its communities

REDFORD TOWNSHIP, Mich. – Companies of all sizes are grappling with what and what not to do in the workplace during the newly-energized Civil Rights movement following George Floyd’s death.

For one Metro Detroit company, they said the answer doesn’t have to be difficult. The CEO of Flagstar Bank drew a roadmap to change that starts at his own front door.

Flagstar CEO Alessandro DiNello was 12 years old the night the Detroit Rebellion and riots broke out in 1967.

“I grew up in Detroit," DiNello said. “Unfortunately we haven’t made the progress we should have made all of those years.”

He said the protests had a profound impact on him. DiNello has been pushing for measurable, visible evidence of equality and inclusion since 2017 and is encouraging other companies to do the same.

“We have to change. We have to get better,” DiNello said. “I’m gonna do my best to make sure people of color have an opportunity. Our HR team knows to not bring me a slate of candidates that’s not diverse. If I don’t have any to choose from, how can I choose them?”

Flagstar invested $5 million into the old Redford community, putting commerce and home ownership in reach of minorities. The return on investment goes beyond the logo of his employees in the community, it goes to the root of exclusion and lack of opportunity.

Dinello said the roadmap to creating racial equity in the workplace begins with hiring, developing and promoting minorities of all types.

You can watch Paula Tutman’s story in the video above.


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