Breaking News

New Jersey

President Biden Signs Bipartisan Bill to Curb Predatory Lending
Charlene CrowellOpinionUncategorized

President Biden Signs Bipartisan Bill to Curb Predatory Lending

Charlene CrowellJuly 8, 2021

In recent years, consumer finance protections withered through a series of harsh attacks that either outright rejected or significantly diminished financial guard rails in the marketplace. But a new consumer victory, urged by a groundswell of support from everyday people, academicians, and bicameral legislators signals an important step towards fair financial rules. On June 30, President Joe Biden’s signature ended an ill-advised rule that favored predatory loans instead of America’s consumers. “These are so called “rent-a-bank” schemes”, said President Joe Biden at the June 30 signing ceremony.  “And they allow lenders to prey on veterans, seniors, and other unsuspecting borrowers

Wealth gap costs over last two decades: $2.7 trillion in Black income, $16 trillion to U.S. economy
Charlene Crowell

Wealth gap costs over last two decades: $2.7 trillion in Black income, $16 trillion to U.S. economy

Charlene Crowell, Senior Fellow with the Center for Responsible LendingOctober 8, 2020

“Yet even today, with all those credentials and as one of the leading executives on Wall Street,” wrote Raymond J. McGuire, Citi’s Vice Chairman and Chair of its Global Banking and Capital Markets, “I am still seen first as a six-foot-four, two-hundred-pound Black man wherever I go — even in my own neighborhood. I could have been George Floyd. And my wife and I are constantly aware that our children could have their innocence snatched away from them at any given moment, simply for the perceived threat of their skin color.”

JPMorgan Chase Celebrates Graduates, Expands Commitment to Supporting Young Men of Color
EducationFinanceNewsNews (Business)

JPMorgan Chase Celebrates Graduates, Expands Commitment to Supporting Young Men of Color

Thandisizwe Chimurenga, Contributing WriterJuly 2, 2020

Amidst the slew of nationwide virtual graduation ceremonies this past June, JP Morgan Chase held a similar event for its 10-year old mentoring success program The Fellowship Initiative. TFI’s Class of 2020 will see thirty-eight predominantly Black and Latinx young men from low-income communities throughout Los Angeles attending colleges across the state, as well as Princeton in New Jersey.

Kipp SoCal Alumna Selected For National Leadership Accelerator
Crenshaw & AroundEducationNews

Kipp SoCal Alumna Selected For National Leadership Accelerator

Sentinel News ServiceJanuary 2, 2020

Simone Edwards, a graduate of KIPP SoCal school was selected to participate in KIPP’s national Alumni Leadership Accelerator program, a year-long fellowship for KIPP alumni leaders in their 20s and 30s. Simone is among 23 KIPP alumni nationwide who were selected as fellows this year, chosen from a competitive pool of over 100 applicants nominated by their KIPP regions. KIPP partners with Management Leadership for Tomorrow to deliver the program.  

Importance of Educators of Color for Black and Brown Students
EducationNationalOpinion

Importance of Educators of Color for Black and Brown Students

Ron Rice, Senior Director, Government Relations at the National Alliance of Public Charter SchoolsOctober 31, 2019

This month, my organization, the National Alliance of Public Charter Schools released its highly-anticipated report, “Identity and Charter School Leadership: Profiles of Leaders of Color Building an Effective Staff” which examined the ways that school leaders of color’s experiences and perspectives influence how they build school culture, parent and community relationships, and effective staff.

102 House Members Rebuke Delay of Payday Loan Rule Waters Led Effort Supported by Many CBC Members
BusinessCharlene CrowellEconomyFinanceNews (Business)OpinionPolitical

102 House Members Rebuke Delay of Payday Loan Rule Waters Led Effort Supported by Many CBC Members

Charlene CrowellSeptember 5, 2019

Anyone who struggles with the rising costs of living knows all too well how hard it is to try stretching dollars when there’s more month than money in the household. Predatory lending, like payday and car-title loans, worsen financial stress with triple-digit interest rates that deepen the debt owed with each renewal.