Concerns are so deep rooted that there is a lack of trust regarding pricing (e.g. car insurance, mortgage pricing), and customer treatment (e.g. re mortgage and SME borrowers in distress). Ultimately, I do not think this is positive from either a financial stability or a consumer protection perspective. Diversity and inclusion have roles to play in mitigating some of these risks.
McKinsey22 research in this area suggests that companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians. Companies in the bottom quartile in these dimensions are statistically less likely to achieve above-average returns.