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Racial wealth gap

Race and Economy

Why the nation’s first reparations program for Black residents is tied to homeownership

by Amy Scott and Maria Hollenhorst
Apr 7, 2021
The groundbreaking reparations program in Evanston, Illinois, seeks to shrink the racial wealth gap through housing grants.
A Black Lives Matter sign sits in front of a home on March 23 in Evanston, Illinois. The City Council voted to approve a plan, believed to be the first of its kind in the nation, to make reparations available to Black residents due to past discrimination.
Scott Olson/Getty Images
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Race and Economy

Goldman Sachs to invest billions in Black women

by Erika Beras
Mar 12, 2021
The firm says it wants to change the lives of "One Million Black Women," but that'll take more than a monetary investment.
Black women have disproportionately suffered during the pandemic, one reason Goldman Sachs decided to provide support.
Brendan Smialowski/AFP via Getty Images
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Biden team faces pressure over who leads key banking regulator

by Kimberly Adams
Feb 1, 2021
The Office of the Comptroller of the Currency oversees most U.S. banking assets and can influence economic inequality.
Whoever the president taps to run the OCC will play an important role in addressing economic inequality, including the racial wealth gap.
Chip Somodevilla/Getty Images
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Race and Economy

How baby bonds could help close the racial wealth gap

by Samantha Fields
Jan 13, 2021
A proposed $1,000 savings account for every baby born in the U.S. could improve future outcomes for an entire generation of families.
Rep. Ayanna Pressley, above, and Sen. Cory Booker are pushing for baby bonds to help close the racial wealth gap.
Tom Williams/AFP via Getty Images
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Reimagining the Economy

Student loan debt adds to racial wealth disparities, research finds

by David Brancaccio , Daniel Shin and Candace Manriquez Wrenn
Oct 27, 2020
The costs for Black borrowers to pursue a college have been growing exponentially.
Robyn Beck/AFP via Getty Images
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Economic Anxiety Index®

Majority of Americans believe economy is rigged

by Samantha Fields
Oct 16, 2020
More than 80% of Black Americans and nearly 70% of women say the economy is rigged in favor of certain groups. Experts say they're right.
Protesters in Los Angeles in May 2020.
Apu Gomes/AFP via Getty Images
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Race and Economy

JPMorgan Chase promises $30 billion to address racial wealth gap

by David Brancaccio , Nova Safo and Alex Schroeder
Oct 8, 2020
Some of the initiative is philanthropic, but most of it is lending with an expected return for the bank.
"We can do more and do better to break down systems that have propagated racism and widespread economic inequality, especially for Black and Latinx people," JPMorgan Chase Chairman and CEO Jamie Dimon said.
Alex Wroblewski/Getty Images
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COVID-19

How homeowners have gained a financial advantage during the pandemic

by Amy Scott
Sep 10, 2020
During the Great Recession, owning a house could sink you. Now, it's a life raft.
A house for sale in South Pasadena, California, in April.
Frederic J. Brown/AFP via Getty Images
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COVID-19

Talk to kids about money, and remember, they "eat up honesty"

by Amy Scott and Alli Fam
Sep 7, 2020
Shipra Parikh, a clinical social worker, explains why these conversations should be tailored to each families personal financial situation.
Leo Patrizi/Getty Images
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The credit union that aims to be a "lifeboat" in times of crises

by Kai Ryssdal and Sean McHenry
Aug 26, 2020
Bill Bynum says Hope Credit Union is his ministry, giving predominantly Black communities a place to bank.
Bill Bynum
Courtesy of Hope Credit Union
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