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Wall Street widened the racial wealth gap. Can big banks help bridge it?

Oct 25, 2022
In her new book, journalist Emily Flitter looks at how Wall Street giants have kept Black Americans out of the financial industry.
The JPMorgan Chase headquarters building in New York. Many major Wall Street firms pledged to support economic equality for Black Americans after the killing of George Floyd in 2020.
Michael M. Santiago/Getty Images

With Roe v. Wade overturned, economic disparities are poised to get worse

For millions of Americans, the loss of abortion rights may affect educational attainment and lifetime earnings for generations.
Abortion-rights activists demonstrate in front of the U.S. Supreme Court on Friday after the court's ruling was announced.
Olivier Douliery/AFP via Getty Images

Banking law rooted in civil rights era gets a 21st century update

May 5, 2022
Federal regulators propose new rules for the Community Reinvestment Act, which requires banks to invest in low- and moderate-income communities.
The Community Reinvestment Act, which aims to close the racial wealth gap, may be updated to cover financial firms that don't rely on neighborhood branches.
Justin Sullivan/Getty Images

When it comes to the racial wealth gap, home appraisals are part of the problem

Aug 9, 2021
Sociologist Junia Howell shares her research on how appraisals contribute to inequality between Black and white homeowners.
The key to understanding racial inequality and appraisals is not through individual appraisers’ decisions, says sociologist Junia Howell. It’s “how the system or the way that we appraise houses more generally is structured or arranged."
Tim Boyle/Getty Images

Racial gap in appraisals devalues homes owned by people of color

Jun 8, 2021
Lower home appraisal values contribute to the wealth gap between white communities and communities of Black and Latinx people.
Real estate agent Don Robinson said he has seen the devaluing of homes in Black neighborhoods in Chicago with little recourse for the owners.
Manuel Martinez/WBEZ

Biden administration says it will address racial inequity in home appraisals

Jun 2, 2021
The government plans to use fair housing laws and regulatory action to address the racial disparity in home valuations.
President Joe Biden lays out policy proposals aimed at narrowing the racial wealth gap during a speech in Tulsa, Oklahoma.
Brandon Bell/Getty Images

To narrow racial wealth gap, Biden plan takes aim at home appraisal inequality

Jun 1, 2021
Homes in most white neighborhoods are worth an average of $250,000 more than those in mostly Black and Latinx neighborhoods.
President Joe Biden laid out policy proposals aimed at narrowing the racial wealth gap during a speech in Tulsa, Oklahoma. Above, Biden speaks with Michelle Brown-Burdex of the Greenwood Cultural Center.
Mandel Ngan/AFP via Getty Images

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Education may help close the racial wealth gap, but it isn't a panacea

Apr 8, 2021
Darrick Hamilton, a co-author of a recent study from the New School, describes other ways to address the disparity that hurts Black Americans.
New graduates at Agnes Scott College in Georgia. African Americans need access to capital, Darrick Hamilton says.
Rick Diamond/Getty Images

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

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

Goldman Sachs to invest billions in Black women

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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