The US banks trying to close the racial wealth gap

Few people have heard of CDFIs. For many, they’re a money lifeline.

Feb 08, 2021 | Editorial | Making change | Business
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To honor Black History Month, The Post is highlighting the most relevant financial issues for Black communities in America today. Join us every Monday in February for more.

The little-known banks earning big investments from Big Tech

In June 2020, Netflix announced it would move 2% of its cash pile to US financial institutions that serve Black communities. That same month, PayPal announced a $500 million economic opportunity fund, with the lion's share invested into banks and credit unions that serve communities of color. Square...

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