Today addressing Challenges Black-Owned Financial Institutions Face

Today addressing Challenges Black-Owned Financial Institutions Face

Coward thinks Black-owned minority depository organizations (MDIs) perform an intrinsic part to summarize the racial wide range space and have now considering that the end of enslavement. MDIs are organizations by which 51% or even more of voting stock belongs to minority U.S. citizens or permanent residents. Their panels of directors are mostly minority together with communities they provide are minority. But, he claims, unlike white-owned banking institutions, “Black-owned MDIs are woefully undersupported and undercapitalized.”

Undercapitalization

“The largest white-owned banking institutions have actually billions or trillions of bucks in assets,” he continues, citing JPMorgan Chase as one holding over $2 trillion in assets. (mais…)

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