Showing posts with the label African American



African American-owned bank get $1M deposit

This article is a direct copy of one I submitted to the Post. It adds some additional quotes, but otherwise is a copy. See my blog posting below. Related articles CBCF makes a $5 million deposit in Black banks Congressional Black Caucus Foundation Makes Historic Deposit In Black-Owned Banks Washington, DC's Last Black-Owned Bank Receives $1 Million Investment from the Congressional Black Caucus Foundation

SF 49er Protest this coming Sunday, Sept 8th

If the 49ers knew and this is true…That special legislation was passed  so that the Santa Clara Stadium Authorities could circumvent the  California State laws in regards to contractor selection when using  public funds. If the 49ers knew and this is true…That Turner/Devcon joint venture,  the contractor selected to build the stadium, submitted a list of  “pre-qualified subcontractors” and that list had NO, zero, African  American Contractors on that list. What does that say about our 49ers? That Black Players are good enough  to perform on the field but Black Business people are NOT GOOD ENOUGH  to build a stadium. 1940’s – they said we could not Play the game 1960’s – they said we were not smart enough to Quarterback 1980’s – they said we could not Coach a winning team Now in 2013 – We CAN’T BUILD a stadium ?? Forward & Pass ON, so people know there is a process that “Excludes”  folks and we’re not going to continue to let this happen. We deserve the “ Ameri

'Minority' Bank Designation Has Become Meaningless

We note with interest the designation of Urban Partnership Bank as a Minority Depository Institution. According to Crain’s Chicago Business, “The $1 billion-asset bank based on Chicago's South Side (formerly South Shore Bank) is officially a minority lender despite an ownership dominated by Wall Street giants like Goldman Sachs Group Inc. and J.P. Morgan Chase & Co.” ( ) A Minority Depository Institution, as defined by Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ("FIRREA"), used to be a bank in which 51% or more of the common stock was owned by one or more members of the following groups: Black American, Asian American, Hispanic American, or Native American . The threshold now for MDI designation is a bank that meets one or more of the following standards: 1.        51% or