In a world that constantly evolves and redefines the dynamics of power and influence, the time has come for African Americans to explore innovative avenues that can bolster their collective progress. One such opportunity lies in seeking membership within the BRICS alliance – a coalition of emerging economies that has reshaped global diplomacy and economic […]
Author: minoritybank
Lawsuit Targeting Fearless Fund Part of a Disturbing Trend
Recent events have unveiled a deeply unsettling truth within the intricate fabric of American society and law: the once-revered cloak of justice is marred by visible signs of distress. At the forefront of this narrative, a legal battle unfolds that sheds light on the broader challenges facing marginalized communities. On one side, several financial institutions […]
S&P Joins Moody’s In Cutting Ratings for U.S. Banks
On August 22, two weeks after Moody’s Investors Service sent shockwaves through the financial sector by downgrading numerous U.S. banks, S&P Global Ratings has taken a similar stance, citing a challenging environment for lenders, downgrading banks including KeyCorp, Comerica Inc., Valley National Bancorp, UMB Financial Corp., and Associated Banc-Corp. The move comes as a stark […]
ONE OF THE LARGEST BLACK-LED BANKS IN AMERICA LAUNCHES NATIONAL SEARCH FOR CEO
According to MinorityBank.com banking analyst William Michael Cunningham, Carver’s new CEO will face a challenging business environment, including the impact of AI on banking and new potential capital rules that will require the CEO to raise capital immediately. Further, he says the CEO will have to manage the impact of the potential elimination of all minority business […]
HERE’S HOW BLACK BANKS ARE TAPPING INTO BANKING GIANT TO MAKE A DIFFERENCE
“Economist William Michael Cunningham, founder of MinorityBank.com, says JPMorgan Chase’s commitment shows increased attention to MDIs as part of a renewed focus on needs in the Black community. However, he says, the real test comes when the bank approaches the complex issues in the Black community like Black maternal mortality. ‘We see an opportunity for […]
Investments in Minority Depository Institutions
To genuinely address the needs of the Black community, it is essential to be critical of JPMC’s commitment. The real test lies in how JP Morgan Chase addresses complex issues such as Black maternal mortality. Mere financial support is insufficient; substantial efforts are needed to tackle systemic problems disproportionately affecting minority communities. See: https://www.impactinvesting.online/2023/07/critical-reflection-on-jpmorgan-chases.html. Also see: […]
2022 Financial Institution Diversity Self-Assessments: Accepted through 9/30/23
FDIC-supervised financial institutions are encouraged to voluntarily conduct and submit self-assessments of their diversity policies and practices by September 30, 2023. The diversity self-assessment form is fully automated and accessible online through the secure FDICconnect portal.
Bidenomics: A Pragmatic Approach to Economic Growth, Equity, and Competition
Since assuming office, President Joe Biden has implemented an economic agenda known as Bidenomics, aiming to replace the dominant Chicago-school approach to the American economy with a more effective and inclusive set of economic principles. The link below is to an article that examines key elements of Bidenomics, comparing it to past policies and exploring its […]
Challenges Persist as Cryptocurrencies Inch Closer to Traditional Finance
Recent developments in the global financial landscape, including the resurgence of digital currencies and the first inclusive global financial summit in Paris, have undeniably captured the attention of the finance world. These developments, which seemingly promise a new era of integration, transformation, and collaboration, hold significant implications for the future of finance and international economic […]
BLACK BUSINESSES TO SEE $1B IN LOANS FROM THE SMALL BUSINESS ADMINISTRATION
Based on a calculated analysis by Creative Investment Research, the SBA’s 7(a) Loan Program, the agency’s main and most common lending program, is projected to lend Black firms and businesses $1 billion this year, a whopping jump from $599 million in 2017. The Washington, D.C.-based firm figured 7.76% of SBA loans were issued to Black […]