The recent disbursement of COVID-19 pandemic-related federal relief funds to businesses and individuals under the CARES Act exposed significant problems in the U.S. system of money and payments. U.S. banks' wealth maximization objectives clashed with the federal government's goals of diversity, equity, and inclusion (DEI). The discriminatory, self-interested behavior of banks, which essentially served as the federal government's long arm in these transactions, worsened the pandemic-induced economic crisis for many, especially women and minorities, and intensified racial injustice. The U.S. government's inability in 2020 to successfully execute its stimulus plan and give all its intended recipients the benefits it had designated due to the role played by banks begs the question: Should U.S. banks be subject to any legal obligations when they help the government execute its fiscal goals? This article argues that U.S. banks should help advance the federal government's fiscal policy, including the DEI social agenda, especially during critical junctures such as the economic crisis instigated by COVID-19, and proposes an agency theory approach to mandate the implementation of government social policy goals among commercial banks via a CAMELS rating-like system that includes social goals, such as DEI. This DEI rating system would create public consequences for noncomplying banks, including depositors withdrawing their funds from lower-rated banks and redepositing them in top-rated banks, resulting in higher-rated DEI banks overtaking lower-rated banks. This DEI rating system will also provide an incentive for banks to compete for more diversity and inclusion, which would solve many of the systemic discrimination-related issues that led to economic inequality and intensified the 2020–2021 crisis. Lastly, DEI-based scores could help prevent banks from finding themselves on the losing side of the growing public banking movement in the United States, enabling banks to reposition themselves and avoid future radical changes in the banking industry.

中文翻译：

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排名季：打击商业银行对消费者的系统性歧视

最近根据 CARES 法案向企业和个人支付与 COVID-19 大流行相关的联邦救济资金暴露了美国货币和支付系统中的重大问题。美国银行的财富最大化目标与联邦政府的多元化、公平和包容性 (DEI) 目标相冲突。银行的歧视性、自私自利的行为本质上是联邦政府在这些交易中的长臂，加剧了大流行引发的对许多人，尤其是妇女和少数族裔的经济危机，并加剧了种族不公。由于银行所扮演的角色，美国政府无法在 2020 年成功执行其刺激计划并为所有预期接受者提供其指定的福利，这引出了一个问题：美国是否应该 银行在帮助政府执行其财政目标时是否需要承担任何法律义务？本文认为，美国银行应帮助推进联邦政府的财政政策，包括 DEI 社会议程，尤其是在 COVID-19 引发的经济危机等关键时刻，并提出了一种代理理论方法来强制执行政府社会政策通过包括社会目标（如 DEI）的类似 CAMELS 评级的系统在商业银行之间实现目标。这种 DEI 评级系统将对不遵守规定的银行造成公共后果，包括储户从评级较低的银行提取资金并将其重新存入评级最高的银行，从而导致评级较高的 DEI 银行超过评级较低的银行。这种 DEI 评级系统还将激励银行竞争更多的多样性和包容性，这将解决许多导致经济不平等和加剧 20​​20-2021 年危机的系统性歧视相关问题。最后，基于 DEI 的评分可以帮助防止银行发现自己在美国日益增长的公共银行运动中处于失败的一方，从而使银行能够重新定位并避免未来银行业发生根本性变化。