Generations of discriminatory lending practices have taken a major toll on Black communities. Local officials say they’re working to address systemic racism in banking and to shrink the racial wealth gap. BlackVoicesWTTW
Generations of discriminatory lending practices and policies have taken a major toll on Black communities, locking them out of being able to build generational wealth.that for every $1 of accumulated wealth that White families have, Black families have just one cent.Local and state officials say they’re working to address systemic racism in banking and to shrink the racial wealth gap.
The Cook County Land Bank Authority, which was formed to address the large inventory of vacant residential and commercial property in the county, recently announced new initiatives with the aim to make homeownership more attainable. Xavier Ramey, CEO of the social impact consulting firm Justice Informed, said that as an entrepreneur, he has faced barriers in getting funding and access to capital.
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