Black Caucus Foundation to Make Historic Investment in Minority Banks

Black Caucus Foundation to Make Historic Investment in Minority Banks

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From the Congressional Black Caucus Foundation: The Congressional Black Caucus Foundation, Inc. (CBCF) will reveal its $5 million investment in African-American banking institutions as part of a broader effort to increase the availability of loans for businesses and individuals in African-American communities. CBCF is targeting banks in four regions of the country-the North, South, East and Midwest-in an attempt to achieve geographic balance in an initiative that could prove crucial in lifting the economic fortunes of black communities. In all, five banks will receive $1 million each.

WHO:

Rep. Chaka Fattah (D-PA), Board Chairman, Congressional Black Caucus Foundation
A. Shuanise Washington, President and CEO, Congressional Black Caucus Foundation
Michael Grant, President, National Bankers Association
Doyle Mitchell, Board Chair, National Bankers Association and president, Industrial Bank
Russell Kashian, PhD, Professor, Department of Economics, University of Wisconsin Whitewater
Ron Busby, CEO, U.S. Black Chambers, Inc.

WHAT: A PRESS CONFERENCE to discuss CBCF’s record investment in minority banks
WHEN: Tuesday, Sept. 17 at noon
WHERE: Walter E. Washington Convention Center L Street Bridge
801 Mount Vernon Place, NW, Washington, DC

The Congressional Black Caucus Foundation, Inc., established in 1976, is a non-partisan, non-profit, public policy, research and educational institute intended to broaden and elevate the influence of African Americans in the political, legislative and public policy arenas.

1 COMMENT

  1. This is an important initiative. It demonstrates through tangible means that the CBC is using the tools at its disposal to advance the struggle against economic inequality in communities of color.

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