Category Archives: Money & Finance

Businesses a key part of black history

America’s celebration of Black History hasn’t always been a monthlong affair; it started out with a “Negro History Week” in mid-February until 1976 when President Gerald Ford officially recognized Black History Month. The country’s college students were one of the driving forces behind the extension, pushing for increased awareness of the historic contributions of African… Read More »

Tackling the Racial Wealth Gap

My first taste of Virginia politics was being inspired to knock doors as a teenager to help the former capital of the Confederacy elect its first Black governor. But as powerfully as that moment pointed toward racial progress, I was acutely aware that the election of any one individual could not by itself undo the… Read More »

Black community should embrace economic power

In celebration of Black History Month, OneUnited Bank, the largest black-owned bank in the United States, announced its partnership with Black Lives Matter to encourage African Americans who have a checking or savings account or both to transfer some, or all of their money from traditional banks to Black-owned banks. The partnership also launched the… Read More »

Why America needs black-owned banks

Black-owned banks in the U.S. were once a financial haven for African-Americans at a time when discrimination in the industry was common. Today, these banks function as engines for economic revitalization in often-distressed communities. But their numbers are in decline, and some people are trying to change that. In recent months, some black banks reported… Read More »

How blacks took banking into their own hands

Many folks try to make a dollar out of 15 cents, but African Americans don’t always take those nickels and dimes to a bank. More than 18% of African Americans don’t have traditional bank accounts, compared with 7% of all Americans, according to the Federal Deposit Insurance Corp. But where banks don’t fill the bill,… Read More »

Board Diversity Still Unusual In A Fortune 500 Firm

In her last formal speech before the former President Barack Obama left office, Michelle Obama referenced minorities and their importance to U.S. society. At the event honoring high school counselors, the former first lady said that the U.S. belonged to people for all backgrounds and walks of life. “Our glorious diversity – our diversities of… Read More »