Goldman Sachs has ended a ban on underwriting companies with all-White, all-male boards, becoming the latest corporate giant to scale back a DEI initiative.

Goldman Sachs has ended its policy requiring IPO clients to have diverse boards, citing a legal ruling that ended a similar initiative at the Nasdaq.

Following Trump's lead, organizations including Walmart, Lowe’s and Meta have announced they would scale back their commitments to diversity, equity and inclusion programs.

Goldman Sachs is canceling a pledge to ensure diversity on the boards of companies it helps go public. Why it matters: It's the latest corporate rollback of diversity, equity and inclusion initiatives following conservative blowback and a series of court rulings calling certain quotas into question.

Goldman Sachs cancelled a four-year-old policy to only take public companies that had two diverse board members, a spokesperson for the bank said on Tuesday, in the latest such move by corporations expecting greater scrutiny on social policies from U.

Corporate America embraced diversity, equity and inclusion initiatives following the protests that accompanied the police killing of George Floyd in 2020.

The vice chair of Goldman Sachs has announced the bank has axed a diversity rule which excludes white men. As a result of legal challenges and political scrutiny, the bank has dropped its IPO board diversity requirement entirely,

Goldman Sachs have become the latest company to scrap their diversity programmes following the Trump administration’s signing of an executive order which was aimed at ending "radical and wasteful government DEI [diversity, equity, and inclusion] programs".

CNBC's Andrew Ross Sorkin reports on the latest news.

Goldman Sachs CEO David Solomon is scrapping a key DEI policy that banned the bank from doing IPOs for companies with white, all-male boards. It marks a major U-turn for Goldman amid a White House-led crackdown on what the Trump administration believes to be discriminatory hiring policies in the private sector.