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It is these types of stories that the hard left wish didn’t exist because it is the exact opposite of the vision they have for black America. The Community Foundation for Greater Atlanta just announced a crucial partnership to support the “launch and growth of the National Black Bank Foundation (NBBF),” according to BlackNews.com.
The Community Foundation for Greater Atlanta is an organization that serves the city through inspiring philanthropy to benefit its residents. It is a chapter of the national Community Foundation that has 800 other chapters. It is now serving as a “fiscal sponsor of NBBF as it awaits its final IRS determination letter,” which will allow the organization to operate as an independent non-profit.
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As the new Executive Director of the Aspen Institute’s Finance Leaders Fellowship, Kara Gustafson is mobilizing a global community of finance industry leaders for a journey that ignites their passion and directs their skills and talents toward solving some of society’s most complex challenges. Fellows include people like the CEO of S&P Dow Jones Indices, CFO of General Mills, a Managing Director at Morgan Stanley, the recently nominated Director of the CyberSecurity & Infrastructure Security Agency for the White House, and the Head of Enforcement at the New York Stock Exchange – just to name a few.
So, what does the finance industry – a sector often knocked for causing harm and distrust – and the leaders of it, have to do with catalyzing positive social change? Kara says: a lot. And she knows first hand what the potential is as a member of the founding team of Goldman Sachs’ corporate philanthropy work: A role she held for fifteen years that transformed the way the big b
Todd Kirkland/AP Images
The lack of access to basic financial services in poor and Black neighborhoods has forced underserved populations to rely on costly alternatives like check-cashing, money orders, and payday loans.
In minority-majority zip codes, Black banks are often the primary source for fair, non-predatory lending. But since 2001, their numbers have fallen by more than 50%.
In December, the Atlanta Hawks announced a historic $35 million transaction with 11 Black banks, which will allow them to extend new lines of credit to would-be Black homebuyers and entrepreneurs.
Ryan Clark is an ESPN analyst, Super Bowl XLII champion, and board member of the National Black Bank Foundation.
(Photo by Rashad Milligan for Steed Media Service)
Americans have frequently collided at the intersection of sports and politics in recent years, particularly during this tempestuous year of 2020.
The Atlanta Hawks made a move that is sure to have political ramifications in the future. The NBA franchise is going against the political trends of the day as they entered into a historic agreement with Black-0wned banks to help refinance the construction of the Hawks practice facility.
The National Black Bank Foundation and Carver State Bank, a Black-owned bank that has been in existence for 93 years, is the lead arranger as the NBA team is refinancing the Emory Sports Medicine Complex.