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Black History Month Roundtable: Financial Equity & Racial Equity

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
The wealth gap has been increasing since 1992. By 2022, Black households held only $15 of wealth for every $100 held by white households.
The article from The Street discusses the intersection of financial equity and racial equity, highlighting how systemic racism has historically and continues to impact wealth accumulation among different racial groups in the U.S. It points out that despite some progress, significant disparities persist, particularly in homeownership rates, access to education, employment opportunities, and financial services. The piece explores initiatives aimed at closing these gaps, such as community investment programs, financial education tailored to underserved communities, and policy reforms to address discriminatory practices in banking and lending. It also emphasizes the role of corporations in promoting diversity, equity, and inclusion (DEI) through hiring practices, supplier diversity, and investment in minority-led businesses. The article underscores the need for a multifaceted approach involving government, private sector, and community efforts to achieve true financial equity, which is seen as a critical step towards broader racial equity.

Read the Full TheStreet Article at:
[ https://www.thestreet.com/retirement-daily/your-money/financial-equity-racial-equity ]