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Finance - Page 2 of 13
Tips, tools and resources for Black business owners looking to make a strong recovery in 2021
March 4, 2021
While it may be challenging to predict what exactly our path to economic recovery will look like, Black small businesses will play a significant role. ... read more »
Wells Fargo Invests in Six Black-Owned Banks
February 18, 2021
Wells Fargo today announced equity investments in six African American Minority Depository Institutions (MDIs) as part of its March 10, 2020, pledge to invest up to $50 million in Black-owned banks. ... read more »
Black Investors Take Note: Reddit Rebellion Rescues GameStop Stock
February 11, 2021
The band of amateur day traders that interact with each other on the Reddit page WallStreetBets, encouraged whoever was listening to buy shares of the flailing GameStop, AMC, Macy’s and Koss stocks. Big investors, often in the form of hedge funds, frequently bet against struggling public companies using a process referred to as “shorting,” which allows investors to bet on the degree of misfortune a stock may experience and earn billions of dollars in profits as a result. ... read more »
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BOE Member Malia Cohen Raises Red Flag on Bank-Breaking Prop 19 Tax Costs
February 4, 2021
Malia M. Cohen, the only African American member of the California Board of Equalization (BOE), has some critical concerns about the cost homeowners will have to bear because of Proposition 19, a constitutional amendment that took effect on Dec. 16, 2020. ... read more »
Biden Administration in Push to Put Harriet Tubman on $20 Bill
February 4, 2021
In April 2016, then-President Barack Obama announced that Tubman would replace Andrew Jackson on the $20 bill. Obama wanted the release of the new bill to coincide with the 100th anniversary of the passage of the 19th amendment in 2020 that gave women the right to vote. However, Trump had expressed an affinity toward Confederate figures and sang the praises of Andrew Jackson, claiming that he had led the U.S. to great success during his two-terms in office from 1829 to 1837. ... read more »
Gov. Newsom’s $227 Billion Spending Plan Includes Stimulus Cash, Rental Relief, Job Training, and More
January 14, 2021
Gov. Gavin Newsom sounded upbeat when he announced at a press briefing Friday afternoon that he has submitted a $227 billion budget for the 2021-22 fiscal year to the State Legislature for approval. ... read more »
SC-VBC PROVIDES ONLINE RESOURCES AND COURSES FOR ENTREPREUNERS
December 17, 2020
The Southern California Virtual Business Center (SC-VBC) is an online facility designed to prepare business owners to scale and grow through the emphasis of corporate and government contracts. The SC-VBC hosts different programs for entrepreneurs at different stages of their business, through the program’s curriculum, resources, and mentorships. ... read more »
CASA DE ROSAS in SOUTH LOS ANGELES – COMING SOON
November 26, 2020
Strategically placed in the Ninth Council District in the City of Los Angeles is an historic campus of buildings, known since 1895 as Casa De Rosas.  At a time when Councilman Curren Price, the proud public servant of the New Ninth is working tirelessly to increase the availability of affordable housing we can all be very excited that Casa De Rosas’ transformation to a home for 36 single parent Veteran families with a child.  ... read more »
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Student Loan Debt Widens Racial Wealth Gap
November 26, 2020
With the freeze placed on student loan repayments set to end December 31, Biden has gotten behind the Democrat-led House’s HEROES Act, which calls on the federal government to pay off up to $10,000 in private, nonfederal student loans for economically distressed borrowers. “People having to make choices between paying their student loan and paying the rent … debt relief should be done immediately,” Biden stated during a news conference on Monday, November 16. ... read more »
Property Tax Increase Initiative Proposition 15 Defeated
November 12, 2020
Supporters conceded defeat of a union-backed initiative that would have resulted in higher property taxes for commercial and industrial property to provide additional funding for local governments, schools and community colleges. ... read more »
Military Veterans Find Plenty of Opportunities and Camaraderie at Wells Fargo
November 5, 2020
In a recent interview with BlackPressUSA, Le Nette Rutledge, the head of Military Talent Programs at Wells Fargo, shared her perspective about being a military veteran now serving in the ranks of corporate America. ... read more »
City Planning Looks to Ease Regulations, Support Small Business During Economic Recovery
October 22, 2020
City Planning released a draft of its Local Emergency Code Amendment for public comment. The ordinance would take steps to eliminate financial and regulatory burdens on small businesses affected by the novel coronavirus. If adopted, it would expand the city’s ability to activate regulatory relief during a declared local emergency. ... read more »
JPMorgan Chase Commits $30 Billion to Advance Racial Equity
October 22, 2020
“All Americans deserve equitable access to affordable housing and the physical, emotional and financial security it represents,” said Lisa Rice, CEO, National Fair Housing Alliance. “JPMorgan Chase’s new commitments will help make owning or renting a reality for more Black and Latinx families, whose housing access has been impeded by decades of systemic racism and are now disproportionately affected by the impact of COVID-19. Addressing the affordability crisis, now overlaid with the pandemic, will require many players on many fronts, and these commitments are concrete, meaningful steps in the right direction.” ... read more »
New CRL Report: Debt Collectors in California May Have Seized $700M, Often Based on Scant Evidence & Other Questionable Practices
October 15, 2020
A new report released this week by the Center for Responsible Lending (CRL) finds debt collectors in California may have seized more than $700 million from consumers between 2012 and 2017, even though they frequently lack sufficient documentation to establish the validity and ownership of an individual’s debt. ... read more »
An Easy Way to Put More Money in the Hands of Californians
October 8, 2020
There is no way around it—California’s Assembly Bill (AB) 5 has been a disaster for our state. The so-called “gig economy” legislation passed last year has been a short-sighted and dangerous attack on nearly ten percent of our state’s workforce. What’s worse—businesses continue to be attacked on all sides from attorneys looking to exploit the vague “ABC test.” And all this is peaking during the worst health crisis in a century, when millions of Californians remain jobless and small businesses are struggling to survive. ... read more »
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