banking
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Cash, Cropped: Bank Fees Hit Black and Latinx Customers the Hardest, According to New Poll
Black and Latinx people pay more than white people when it comes to banking fees, according to a new report released Wednesday. The survey results (h/t USA Today) come from financial services website Bankrate.com, which asked 2,634 adults how much they spend per month on routine financial service charges, like ATM fees and overdraft penalties.…
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Banking While Black: JPMorgan Chase Says It Is ‘Sickened’ by Racism Exposed at an Arizona Bank
JPMorgan Chase is calling for staff across the bank to come forward with experiences and concerns related to racism and discrimination in the wake of a New York Times story reporting on racial bias in the company. The article, published Wednesday, features recordings of employees at an Arizona Chase bank making discriminatory remarks about and…
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How Will the New FICO Scoring System Affect Blacks and People With Lower Incomes?
How good is your credit? Do you know your FICO score? How do you measure up when it comes to paying your bills and managing your debt? For the last two decades, the three major credit reporting companies—Experian, TransUnion and Equifax—have relied heavily on a scoring system created by the Fair Isaac Corporation—FICO—when reporting consumer…
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Your Bank Is a White Supremacist
Lie. … This is the first rule of talking about race. If you wish to discuss racism, the first thing you must learn is that you cannot call a thing exactly what it is. Even when you’re exposing the most egregious forms of discrimination, in America there is no room for truth. You must euphemize…
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Mike Pence Casts Tie-Breaking Vote to Remove an Important Consumer Financial Protection Bureau Rule
Late Tuesday evening, the U.S. Senate voted to repeal an Obama-era rule that provided consumer protections against banks and credit card companies by preventing them from using forced settlements to resolve disputes with customers. The vote on the Senate floor was 50-50, with The Hill reporting that Republican Sens. Lindsey Graham of South Carolina and…
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1 Year After #BankBlack, America’s Biggest Black-Owned Bank Still Doing the Work
Hip-hop has become a cultural powerhouse that fuels everything from fashion to corporate profits. They rap in beer commercials. Politicians come to Jay-Z for endorsements. With all its faults, more than any form of art that ever existed, hip-hop has always openly acknowledged the most powerful force in America: Money. Every conversation about equality, civil…