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A brief history of Black cooperatives in the U.S.
For as long as there have been Africans in America, there have been examples of Black social, cultural and economic solidarity. Often formed in response to systemic exclusion and economic stagnation, examples range from mutual aid networks, to freedom farms and grocery cooperatives. Though centuries of erasure have shrouded the impact Black Americans have had on the history and development

Citi exclusively hires black-owned firms to distribute $2.5bn bond issuance for affordable housing project
Citi bank has hired five black-owned firms exclusively to disseminate $2.5bn in loans, with proceeds going towards constructing quality affordable housing for low-moderate income populations in the US. Bond issuance came after the bank announced in November that one year into its three-year commitment to tackle racial inequality, it had invested $1bn in strategic initiatives

PARKES PHILANTHROPY AND THE BLACK WALL STREET APP INVEST IN BLACK FUTURES
Historically, access to financial literacy education has not been equal to everyone. To address this inequity, Brandon Parkes, CEO and Founder of social impact consulting firm, Parkes Philanthropy and Hill Harper, Award-Winning Actor, Philanthropist and CEO and Founder of The Black Wall Street App are teaming up for a social media campaign that honors Black history by investing in Black futures.

5 Black Founders Working to Make the Financial System More Equitable
Black Americans face barriers in the financial system, from buying a home to building credit. These entrepreneurs are trying to help. Growing up, Dennis Cail didn’t have any banks in his Monroe, Louisiana, neighborhood. He saw payday lenders charge his father and uncle, both employed at the local paper mill, 30 percent fees to cash their checks, plus exorbitant interest rates

UBS tailors advisor tools for minority clients with $1M+
One of the largest wealth managers is trying to engage a client segment spanning as many as 2 million people who are part of groups that have historically been excluded by the industry. Launched on Jan. 25, The UBS Wealth Management USA Multicultural Investors Strategic Client Segment is offering the firm’s roughly 6,200 financial advisors research, access
Bob Johnson says Biden’s Build Back Better bill needs to direct money to Black-owned businesses
BET founder Bob Johnson told CNBC on Tuesday the Biden Administration needs to take additional steps in its Build Back Better plan to tackle the wealth gap between Black and white Americans. “What I look at is, what can you do to increase Black wealth? And that means you got to put more capital at

Black Americans’ lack of participation in the stock market likely to widen post-pandemic wealth gap
KEY POINTS Many Black Americans missed out on the hefty gains from the stock market due to historically low equity ownership. Only 34% of Black American households owned equity investments as compared with 61% of white families, according to Federal Reserve Board’s most recent survey in 2019. The primary way that Americans build wealth and invest

Robert F. Smith, Prudential Financial Launch Program To Award $1.8M In Microgrants To HBCU Students
Robert F. Smith is backing yet another initiative that aims to support Historically Black Colleges and Universities (HBCUs). The billionaire and his non-profit, Student Freedom Initiative, has teamed up with Prudential Financial to financially assist HBCU students, according to Black News. The new program, powered by the collaborative effort, is named Handling Everyday Life Problems for Students (HELPS). “Student Freedom Initiative applauds the leadership of
7 Black Financial Influencers to Follow in 2022
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