The racial homeownership gap is as large today as it was during the days of segregation, with the white homeownership rate roughly 30 points higher than Black households. New Urban Institute analysis shows that the gap may continue to grow absent intentional action. This has lasting implications: when one generation misses the wealth-building opportunities of homeownership, successive generations feel the impact as well.
Wells Fargo
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Wells Fargo Announces Investments in Two Additional Black Owned Banks
BLACK VOICE NEWS – “We are a proud partner to all these banks as each serves as a cornerstone to the communities they serve,” said Gigi Dixon, head of External Engagement for Diverse Segments, Representation and Inclusion at Wells Fargo.
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Wells Fargo Makes Major Investment in Six Black-Owned Banks
NNPA NEWSWIRE — Wells Fargo said it is also supporting each MDI’s development through a banking relationship in the form of a single touchpoint coverage model that will help them access Wells Fargo’s expertise and pursue strategic priorities like entering new markets, expanding locations, designing new products, and hiring staff to support loan growth.
Posted in#NNPA BlackPress, Black History, Business, Community, Coronavirus, COVID-19, Economy, Health, National, News, NNPA, Wells Fargo
A tailor-made grant helps continue a family legacy
You could say the tailoring business is in Julius “Eddie” Lofton’s blood. As the owner of JC Lofton Tailors in Washington, D.C., he’s continuing a family tradition that began in the late 1930s, when his late grandfather, Josephus C. Lofton, whom the shop is named for, opened Lofton Custom Tailoring and became the first African American to own a tailoring shop/tailoring school in the district. “Tailoring gives me gratification,” Lofton said. “Somebody comes in, and something is torn or burned, and we fix it, and the customer is like, ‘Wow. How’d you do that?’ I’m never going to be a millionaire, but I can tell you a million stories.”
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5 tips to set your business up for success in 2021
NNPA NEWSWIRE — Online and mobile banking can help business owners monitor and manage their accounts from anywhere and make analyzing cash flow easier. In fact, 73% of small businesses utilize these services, according to Barlow Research. What 2020 exhibited is the ability of this functionality to help in preparing for uncertain circumstances, such as not being able to visit a physical bank branch for an extended period. Utilizing tools like these can provide extra insurance against potential challenges that may arise.
