Stories

Narrowing the Racial Wealth Gap

Editor’s Note: This article was originally published on RollCall.com on January 13, 2016. We have a proposition for the Trump administration and the new Congress, and it’s not a liberal or a conservative idea. It’s just a call for pragmatism when developing new federal policies over the next four years. For too long, even when coming together to enact laws to accomplish noble goals, Congress and previous presidents have ignored the unintended effects of “one-size-fits-all” legislation on the racial wealth divide in this country. What seems like a great idea — making college more affordable, for example — can actually feed the divide. Republicans and Democrats alike agree that the racial wealth gap is horribly skewed and growing. The median... Read more

Assessing President Obama’s Impact & Legacy

Throughout our history, the National Urban League has taken seriously our responsibility to hold the President of the United States accountable to the needs of urban America and communities of color. As President Barack Obama prepares to leave office on January 20, we present the Obama Scorecard to assess the first African American president’s impact and legacy. In creating this scorecard, we considered two important questions: (1) is the nation better off than it was eight years ago? and (2) is Black America better off than it was eight years ago? The answer to both questions is, unequivocally, yes. The Scorecard evaluates the Obama Administration’s successes and shortcomings in education, health, housing, economic development, and civil rights After factoring in... Read more

The Wealth Gap Between Black and White Families Is Getting Worse

The U.S. Constitution was ratified a full 228 years ago.  The cutting edge technology that year was the steamboat, and the country had not yet even had a presidential election. If 228 years seems like a really long time, that’s because it is. But if current trends continue, that’s how long it will take for the average black family to reach the level of wealth the average white family has today. The average Latino family fares slightly better—if the current trend continues, it would take them a little more than 80 years to amass the same amount of wealth white families have today. Racial discrepancies in income and wealth are nothing new in this country. The troubling thing is that... Read more

Latinos and Financial Freedom: NCLR Launches “Community Insights” Series

Many of the Latino community’s struggles recently have centered around economic stability in the wake of the Great Recession. The Hispanic community lost more than 66 percent of its wealth in the recession and has not yet recovered lost ground. In order to understand more about Latino households’ ongoing economic challenges and how they’re overcoming them, NCLR established a Financial Services Advisory Council with the support of Citi Community Development, the Ford Foundation, and Master Your Card: Oportunidad. The Financial Services Advisory Council is composed of a group of 10 NCLR Affiliates who serve more than 40,000 clients annually and provide input on how their clients are interacting with financial institutions, what products and services are most useful to them, and... Read more

CFPB’s Proposed Payday Lending Rules Are a Significant Step Towards Protecting Financially Vulnerable Communities from Predatory Wealth-Stripping Products

The proposed rules released by the Consumer Financial Protection Bureau (CFPB) this morning marks a significant step towards protecting consumers of small-dollar credit products from unscrupulous and predatory practices that are responsible for compromising the financial well-being of millions of low- and moderate income borrowers. As a coalition committed to improving the opportunity for economic progress low‐ and moderate-income communities of color – The Asset Building Policy Network believes that vulnerable communities seeking to weather a short-term financial emergency should not be preyed upon, instead these communities should be provided with access to responsible and safe credit that does not put them into unwanted, long-term debt. The CFPB’s long-awaited proposed rules take an important, and much needed, step toward achieving... Read more