California-based bank Beneficial, which was co-founded by billionaire Tom Steyer, a philanthropist who recently dropped out of the race for the Democratic nomination for the 2020 US Presidential Election, has opened its doors to the Communications Workers of America (CWA). The trade union relied on the work done by the Committee for Better Banks, a coalition of employees, unions, consumer groups and churches set up in 2014 to address the lack of union presence in the banking profession. The CWA says its presence at Beneficial represents a historic victory in the banking sector but adds that there is still a long way to go.
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