Category: Black Banks

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: […]

Impact of Regional Bank Troubles on Black People

The impact of regional bank troubles on Black people will likely be multifaceted, since this is a group with a higher proportion of underbanked and unbanked individuals. Some potential consequences include: It is crucial for policymakers and financial institutions to address the challenges faced by regional banks to minimize the potential negative consequences on Black […]

Recent Activity in the Black Banking Sector

We’ve seen a lot of changes in the Black banking sector of late. With the announcement that a Black-led investor group plans to acquire Holladay Bank & Trust in Holladay, Utah, the proposed creation of a credit union by Alpha Kappa Alpha, the nation’s oldest Black sorority, the public debut of a Black-owned bank (Adelphi Bank) in Columbus, Ohio, and […]

Mid-Year 2022 Minority Bank and Thrift Review

The number of minority banks in the US held steady at between 168 and 174 in the second quarter of 2022. Asian owned banks, concentrated in California, hold 51% of assets, with 77 institutions., Hispanic banks, concentrated in Florida and Texas, number 33 institutions and hold 42% of assets, followed by Women-owned banks (17 institutions […]