racial wealth gap
-
Apple Announces New Details in $100 Million Racial Equity and Justice Initiative, Including an Education Hub for HBCUs
Last June—amid a wave of protests sparked by the violent deaths of George Floyd, Breonna Taylor and others—Apple announced its $100 million Racial Equity and Justice Initiative, which aims to “help dismantle systemic barriers to opportunity and combat injustices faced by communities of color.” On Wednesday, the tech company revealed in a press release new…
-
Black Women Democrats Are Pushing Joe Biden to Cancel $50,000 of Loan Debt per Borrower, Citing Increasing Racial Inequality
As the nation waits for congressional lawmakers to reach a resolution on a second stimulus bill—nine months after the coronavirus pandemic began disrupting the lives of Americans around the country—a group of Black female House Democrats is challenging President-elect Joe Biden to offer more substantial relief to student loan borrowers. The charge comes in the…
-
Federal Eviction Ban Set to Expire at the End of the Year; Experts Say Black and Latinos Will be Disproportionately Affected
Dec. 31 doesn’t just mark the end of 2020; it marks the final day that renters will be protected by the federal ban on evictions put in place by the Centers for Disease Control and Prevention amid the coronavirus pandemic wreaking havoc on the U.S. economy and leaving millions of people unemployed and unable to…
-
JP Morgan Chase Pledges $30 Billion in New Commitment to Reduce Racial Wealth Gap
JPMorgan Chase, the largest bank in the United States, announced Thursday that it is pledging $30 billion over the next five years as part of a commitment to address deeply entrenched racial inequality, particularly in housing and business. The multi-pronged plan, which dedicates billions of dollars in loans specifically for Black and Latinx households and…
-
Racism Cost America $16 Trillion Over the Last 20 Years, Bank Finds
For years, researchers have attempted to quantify the cost of racism and discrimination in the United States, whether it be by analyzing wage gaps, disparities in incarceration, or lost economic mobility across generations. This week, a new study by Citigroup focused on the specific costs of discrimination to the American economy—$16 trillion, all in the…
-
ESPN Analyst Jay Williams on the NBA Restart, Social Justice and Closing the Racial Wealth Gap
To the relief of sports heads everywhere, the NBA is officially back in business. However, it looks very different than the sport we’ve all known and loved throughout the course of our lives. Players, coaches and referees are kneeling during the national anthem, “Black Lives Matter” is printed on the court, and instead of chatting…
-
Ex-Lawyer Launches the 1st Black-Owned Stock Exchange in U.S. History
When we talk about white privilege and systemic racism, one thing that always comes up is generational wealth. It’s a thing white people disproportionately benefit from and a thing that is virtually nonexistent for Black people, as history has shown us far more instances of Black wealth being sabotaged (*cough* Black Wall Street *cough*) than…
-
White Neighborhoods Have Better Access to COVID-19 Testing Than Black and Hispanic Communities, Study Finds
It often feels like everything bad that happens in America disproportionately affects communities of color, and the global pandemic that continues to spread across the country has shown us nothing different. Despite the numerous reports that show Black and Hispanic people are at greater risk for COVID-19 infection, a recent review on COVID-19 testing sites…
-
A Liberal North Carolina Town Has Unanimously Voted to Give Its Black Residents Reparations
Phew, 2020 sure is something different. In a unanimous decision, Asheville, N.C.’s City Council has voted to give reparations to its Black residents. The historic 7-0 vote was reached on Tuesday night, reports the Citizen Times, a USA Today affiliate. The measure comes with a public apology for the city’s participation in enslaving Africans and…