Investing in a More Equitable Post-Pandemic Banking System
Here’s what Treasury’s new investment in 186 community development & minority financial institutions will mean for 160+ municipalities around the country.
Source: nextcity.org
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Despite big influx of capital, Black banks say more is needed
Billions of government and corporate dollars are pouring into minority banks and community development lenders, complicating the efforts of some investment funds that had similar goals. Still, banks owned and run by African Americans say the equity infusions are small in the context of the nation’s wide racial wealth gap.
Source: americanbanker.com
Tech Companies Made Big Pledges to Fight Racism Last Year — Here's How They're Doing So Far
Airbnb 2020 commitment: Airbnb said it would donate a total of $500,000 to the NAACP and the Black Lives Matter Foundation. It also said it would match employee donations to both groups. The company also said that by the end of 2021, 20% of its board of directors and executive team collectively would be made up of people of color. By the end of 2025, Airbnb said, its goal is to have 20% of U.S. employees be underrepresented minorities and for 50% of global employees who identify in the gender binary to be women. Airbnb also said each member of its executive team would create and share a detai...
Source: nbcnewyork.com