Charlene Crowell
Stories this photo appears in:
Persistent Lending Disparities Perpetuate Nation’s Racial Wealth Gap: Black neighborhoods and shopping districts stripped of $406 billion
For America, Black History Month brings opportunities to revisit our nation’s lessons, achievements, and unfulfilled promises, capturing our attention as well as our hopes. Yet nothing hits home harder than the painful reminders of how so much of Black America continues to struggle financially, despite an economy that reports low unemployment, a robust stock market, and low inflation.
As Student Loan Payments Resume, Timely Tips and Help for Borrowers 6 Key Steps from Federal Agencies
Days before student borrowers across the nation resume student loan payments after a more than two-year pause prompted by the COVID-19 pandemic, a diverse group of 20 cities and counties representing more than 1.2 million people with nearly $50 billion in student loan debt sent a letter on September 21 to President Biden. Although the letter began by applauding his leadership in pursuing debt relief, it also urged even more persistent and aggressive actions.
Biden Administration Offers New Plan After Supreme Court Halts Student Debt Cancellation Education Department says alternative SAVE Plan set to begin this July
On June 30, a long-awaited and consequential Supreme Court decision denied forgiveness that would have erased $430 billion of federal student loan balances for 20 million borrowers and lowered the median amount owed by another 23 million borrowers from $29,400 to $13,600.
What happens if America can no longer pay its bills?
Treasury Secretary warns the nation is running out of credit and cash
For much of Black America, having adequate cash to cover monthly bills or small business overhead has historically been an ongoing challenge. But over the coming days, the nation’s coffers could also lack adequate cash and credit to cover its bills.
Over 80 groups tell federal regulators Key Bank broke $16.5Billion Promise
Cross-country redlining aided wealthy white communities while excluding Black areas
For much of Black America, the availability of affordable and accessible full-bank services has historically been an irritating issue for consumers and small businesses alike.
Unaffordable rental costs now plague 44 million people in every state Economic inequality places most risk of eviction on Blacks and the poor
For the first time in more than two decades of research, every state now has renters who are nearing a financial breaking point in housing affordability. New research released by Harvard’s Joint Center for Housing Studies (JCHS), and Moody’s Analytics independently reach the same conclusion: consumers are struggling with a growing percentage of their incomes going towards keeping a roof over their heads.
COVID-19’s targeted federal aid led to more Black and Latino homeowners Largest home appreciation in 30 years helps build family wealth
In a year fraught with financial challenges, going home for the holidays will have heightened significance this year for many Black and Latino families.
Financial fairness at risk with proposed TD Bank-First Horizon merger
As banks grow larger through mergers and focus on growing online and mobile services, serious concerns emerge on how fair and how accessible banking will be to traditionally underserved Black and Latino communities. In most cases, consumers and small businesses alike view bank branch accessibility and convenience as key to serving their communities.
Biden Student Debt Forgiveness Begins Interested Borrowers Must Act by Oct. 31
President Joe Biden’s recent student debt cancellation announcement elicited a diverse range of reactions– some congratulatory, others critical, and still others that seem unsure what to make of the unprecedented multi-billion-dollar effort.
Exploitative overdraft fees strip $15B from bank customers House bill seeks to free cash-strapped consumers from high costs
Runaway prices for food, fuel and housing make most consumers anxious about whether they will have enough money for a given month. Even after adjusting spending to stretch dear dollars are far as possible, a lot of people remain perplexed about what else can be done to hold on in these hard times.
America’s Racial Wealth Gap Could Cost Economy $1.5 Trillion
America’s nagging racial wealth gap has been the focus of many research reports and economic policy debates. Now new research analyzes the strong connection between disproportionate wealth and financial services and products that are either shared or denied with consumers of color.
