Black recession, uncertain tariff policy, and targeted dismantling of equity programs are creating challenges for Black-owned small businesses.
Tag: Federal Reserve
Posted inCommentary
Commentary: Court ruling forces No. 47’s administration to restore CFPB funding
Charlene Crowell, a senior fellow with the Center for Responsible Lending, highlights how the current administration’s efforts to defund or undermine the Consumer Financial Protection Bureau (CFPB) hurt working families while protecting Wall Street and corporate interests. Court rulings have now forced the administration to restore CFPB funding, reinstate employees, and resume its oversight work, which prevents billions in consumer losses from predatory financial practices.
Posted inCommentary
One woman’s refusal and the future of the Fed
By Eric Morrissette Recently, the Supreme Court heard arguments that could reshape the global financial system. The case before the justices asks a deceptively simple question: Can the President of the United States fire Dr. Lisa Cook, a member of the Federal Reserve Board of Governors, before the end of her statutory term? But everyone […]
Posted inOpinion
Group unity is worth a try—nothing else has worked
Alice T. Crowe, a lawyer, educator and entrepreneur that has practiced law for over 25 years in New York, argues that collective economic action—exemplified by the African Diaspora Federal Credit Union—offers a viable, overdue solution to systemic financial exclusion and predatory lending in Black communities.
Sponsored
Are Holiday Loans Naughty or Nice? Here Are the Pros and Cons
Holiday loans can be a helpful way to cover extra seasonal costs, but it’s important to weigh the pros and cons before taking one out, such as the potential for increased debt and financial stress.
Posted inBUSINESS
Black Wealth Summit returns to Washington D.C. with focus on financial empowerment
The Black Wealth Summit returns to Washington D.C. on Dec. 5-6 with two days of programming focused on financial empowerment, entrepreneurship and long term wealth strategies in the Black community. This year’s event expands on its mission with new sessions, networking opportunities and a strengthened commitment to accessible financial education, highlighted by an official statement from founder Cedric Nash that underscores the summit’s focus on innovation, resilience and the evolving meaning of wealth.
Posted inPolitics
47th president’s attacks on the Fed fit a troubling pattern
The 47th president’s attempt to oust Federal Reserve Gov. Lisa D. Cook threatens the Fed’s independence and continues a troubling pattern of undermining Black leadership in public institutions. Dedrick Asante-Muhammad warns that such attacks destabilize democracy and risk erasing hard-won gains in representation and trust.
Posted inNational News
Embattled Fed Gov. Lisa Cook vows legal fight against 47th president’s bid to oust her
Federal Reserve Gov. Lisa Cook plans to sue the White House to block her removal, setting up a potential Supreme Court fight that could redefine presidential authority over the central bank and test the Fed’s political independence.
Posted inBUSINESS
How Washington, D.C.’s unbanked population compares to the rest of the US
Despite a decline in unbanked Americans since 2019, millions—especially those in marginalized communities—still lack access to traditional banking due to barriers like minimum balance requirements, distrust and limited physical access.
Posted inCommentary
Budgeting and saving: Telling your money where to go
Frances Murphy Draper is the publisher and CEO of the AFRO. This week she reflects on the resilience, contributions and financial empowerment of Black communities—highlighting how faith, determination and collective action have shaped our economic journey.
Posted inMoney
How to budget when you live paycheck to paycheck
Living paycheck to paycheck is a common issue for millions of Americans, but proactive measures such as budgeting, saving, and seeking additional income can help individuals break the cycle and improve their financial well-being.
Posted inBUSINESS
Investing is key to financial freedom–but why do so few know how?Â
Frances “Toni” Draper discusses the financial disparity between Black and White families, which can be addressed through education, financial literacy, and policies to ensure equal access to investment opportunities.