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Since the death of George Floyd, Black-owned banks have received an estimated $150 million in equity capital and are pouring the funds back into Black communities.
Black-owned banks are booming, and they’re pouring money back into their communities An estimated $150 million in equity capital has been invested in Black-owned banks since George Floyd was murdered last year, according to the National Bankers Association, a trade group that represents 24 of the country’s minority-owned financial institutions. Those funds have put the nation’s Black banking community in a stronger position today than it was a year ago, according to the group’s board Chairman Robert E. James II. “Our banks can now leverage that into $1.5 billion to serve minority co...
The National Bankers Association Names Nicole Elam, Esq. President and CEO Share Article An Action-Oriented Executive to Lead the Association for Inclusive Financial Services and Regulatory Voice of Minority Banking Nicole Elam, Esq. Named President and CEO of National Bankers Association WASHINGTON (PRWEB) May 19, 2021 The National Bankers Association (NBA) announced today the appointment of Nicole Elam, Esq. as president and CEO, effective May 17, 2021. Elam joins the NBA from JPMorgan Chase & Co. where she was vice president...
Black America Needs a ‘New Normal’: Equitable Credit Access to Build Wealth By Charlene Crowell Charlene Crowell Over the past year, the COVID-19 pandemic has imposed dual crises. Over 542,000 Americans lives were lost and continue to increase. At the same time, the rippling effects of a massive economic downturn has caused the nation to lose 9.5 million jobs – more losses than even those of the Great Recession, finds the University of New Hampshire’s Carsey School of Public Policy. Although many officials have called for a ‘return to normal’, millions of small businesses and com...
*ATLANTA — Today, the Atlanta Hawks announced that it has agreed to refinance the construction loan for the Emory Sports Medicine Complex with a syndicate of Black-owned banks. The $35 million loan marks the first time a professional sports franchise has had a significant loan underwritten exclusively by Black banks. The groundbreaking transaction was facilitated with the support of the newly-formed National Black Bank Foundation, which organized a syndication team to structure the deal. Georgia-based Carver State Bank served as the syndicate’s Lead Arranger. By partnering with the Black ...