The 2 percent solution: An argument for reparative investment
There are about 4,700 banks in America. Only 21 are Black-owned and they have less than $5 billion in assets. The total amount of assets in U.S. commercial banks is $20 trillion. So if you think about structural racism and access to capital — and 70 percent of African American communities don’t even have a branch bank of any type in those communities — we said, “Why don’t we think about how to address it?” [Continue]