Do Black Lives Matter to Big Banks?

A national uprising in the wake of the murder of George Floyd pressured corporations and big banks to acknowledge their own roles in systemic racism. Many made sweeping promises to support Black-owned businesses, but now, over one year later, have they kept those promises? In this episode, a co-production of The Laura Flanders Show and URL Media, co-hosts Mitra Kalita and Sara Lomax-Reese interview guests to discuss the widening racial wealth gap in America, the role banks play in perpetuating systemic racism, and how community development financial institutions (CDFIs) can help communities of color build wealth and prosperity. Laura chimes in with her closing thoughts on the importance of media that follows up on critical stories. “...there have been systemic institutional racist policies… within the financial industry that have gotten us to the wealth gap we experienced today, [and], it started with slavery and still today, ‘white college dropouts have more wealth than black college graduates.” Nicole Ndumele, Vice President of Racial Equity and Justice at the Center for American Progress CONTENT A Racial Reckoning in the Big Banks? 0:00 The Racial Wealth Gap in America 4:37 How Harriet's Bookshops Was Supported by Community 10:06 The Issue of Generational Wealth Building 11:57 The Case of Philadelphia 16:21 Solutions To Move Forward 19:20 The Role of Media in Telling This Story 21:34 GUESTS S. Mitra Kalita (Co-host), CEO & Co-Founder, URL Media Sara Lomax-Reese (Co-host), Co-Founder, URL Media Madhusmita Bora, Freelance Writer, Co-Director Sattriya Dance Company Nicole Ndumele, Vice President of Racial Equity and Justice at the Center for American Progress Wayne W. Williams, Assistant Professor of Accounting, Temple University Fox School of Business CREDITS Executive Producer: Laura Flanders Creative Director: Matt Colaciello Communications Director: Jeremiah Cothren Editors: Charlotte Carpenter, Mercedes Gorostiaga, Nat Needham Radio & Podcast Producer: Jeannie Hopper Co-Director Development: Dominic Marcella Story Producer: Sabrina Artel Motion Graphics: Nat Needham Communications Associate: Mercedes Gorostiaga Production Assistant: Ryan Hotes 🎧 PODCAST: Prefer to listen? Hear this week's episode on your favorite podcast platform: https://lauraflanders.simplecast.com/... ✏️ RESEARCH & READING LIST: Visit our Patreon for more information on this week's episode, including related articles, books and more:   / research-reading-56549264   ADDITIONAL FOOTAGE by Daniel Jackson DONATE at https://lauraflanders.org/donate/ SUBSCRIBE to our newsletter: http://www.lauraflanders.org FOLLOW The Laura Flanders Show Twitter:   / thelfshow   Facebook:   / thelfshow   Instagram:   / thelfshow   ACCESSIBILITY This episode is closed captioned. #blacklivesmatter #blm #georgefloyd #bankofamerica #jpmorgan #finance #ppploan #banks #m4bl #history #redlining #loans