Black-owned banks tend to be better at discerning profitable lending opportunities in Black communities. More capital in their hands would allow them to lend to business ventures that may need more time to come to fruition, expanding the range of profitable lending opportunities for them.
- that involves putting more capital directly into the hands of Black-owned banks. Rather than solely relying on the Community Reinvestment Act to mandate commercial banks to lend in minority communities, he suggests that we take steps to induce commercial banks to put capital equal to two percent of their annual net income, or about $2 billion a year, directly into Black-owned banks so that they can make loans.
Since there aren’t enough Black-owned banks to effectively reach all Black communities in the U.S., we might need to also direct some of these funds to non-minority banks that effectively serve Black communities where they are based. His idea closely aligns with Robert F. Smith’s proposal. And each is based on the same notion, which is that the economies in these communities will do better if it’s their own banks making the financing decisions. examines the economic decline of a formerly thriving African American community called Bronzeville.
As a result, the men who ran the local butcher or other local businesses went elsewhere to find work and the community gradually lost its middle-class base. And after a while, the local banks saw few people worth lending to in the community and were ultimately absorbed by larger white-owned banks.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
30 Ceramic Pieces From Black Artisans and Black-Owned BusinessesIncluding a peace-sign-shaped vase, brightly painted planters, and a catchall for tiny trinkets that’s inspired by 1970s swimming pools.
Leer más »
Dakota Johnson Channeled Black Swan in a Little Black Feathered DressWow.
Leer más »
Dakota Johnson Channeled Black Swan in a Little Black Feathered DressWow.
Leer más »
'Colin in Black & White': Football's Most Controversial Player Adds Shades of Gray to His StoryColin Kaepernick is co-creator and onscreen narrator of this miniseries about his life as the biracial son of adoptive white parents, and the challenges that shaped him
Leer más »
J Balvin Apologized For His 'Perra' Video, Which Offensively Depicted Black Women On LeashesThe single off of his fifth studio album features lyrics about a female dog in heat.
Leer más »
Like Trump, DeSantis uses a Black face to mask his Covid failures.thereidout Blog: Since he was appointed last month, Florida Surgeon General Joseph Ladapo has become the most vocal defender of Gov. DeSantis' dangerous Covid-19 disinformation.
Leer más »