Friday, November 15, 2019

Checkout How US Rep Greg Meeks Is Working To Insure Fair Banking In SE Queens & LI

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Meeks, Brown, and Members of Congress Demand Bank Regulators Strengthen, Not Weaken the Community Reinvestment Act

Washington, D.C. – U.S. Senator Sherrod Brown (D-OH), ranking member of the Senate Banking, Housing, and Urban Affairs Committee and Congressman Gregory Meeks (D-NY), Chairman of the House Financial Services Subcommittee on Consumer Protection and Financial Institutions, along with 27 members of Congress sent a letter to the heads of the Federal Reserve, OCC and FDIC demanding that the three banking agencies not issue a proposed rule unless it has the support of the community development and civil rights groups that represent the communities the Community Reinvestment Act was designed to serve.
“Policies that restrict access to credit and banking, such as those that result in redlining, have perpetuated a long legacy of discrimination and disinvestment in America, and held back impoverished minority communities,” wrote the members. “Given this history, any changes to the CRA must hold lenders accountable for meeting the local credit and investment needs of LMI communities where the lender has branches or other facilities while appropriately considering changes in our banking system.” 
The full text of the letter is below and the PDF can be found HERE:

Congressmen Greg Meeks also stated today "Minority Banks disproportionately serve low income, underbanked, minority communities. Their decreasing numbers, combined with irrefutable data on banking discrimination in non-minority banks, is a systemic problem I am working hard to address."

See How The World Of Money Is Offering $7,000 In Prizes For Young Entrepreneurs

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Win Up To $7,000 in Prizes At The 4th Annual "World of Money Youth Business Pitch Competition"
New York, New York - Teaming up with JPMorgan Chase Advancing Black Pathways Initiative, the World of Money, a 14-year New York City based non-profit youth financial education organization will host its 4th Annual Youth Business Pitch Competition” on November 22, 2019 from 6:30pm to 8:30pm at JPMorgan Chase, 4 Metrotech in Brooklyn, New York. World of Money Founder and CEO Sabrina Lamb shares, “We are proud to partner with JP Morgan Chase to promote financial education and invest in young entrepreneurs, ages 10 – 23, with $7,000 in cash prizes. It is gratifying to support youth from around the country as they pitch their brilliant businesses to a panel of seasoned executives.”

ABOUT THE WORLD OF MONEY
The World of Money was founded in 2005 and is a New York City based 501(c)(3) non-profit organization whose mission is to empower youth with a sound financial education. Nearly 4,000 youth between ages 7 – 18, and their families have received World of Money’s 120 classroom hours of financial education and forums.

This approach has steadily broken a generational cycle and changed the way youth and their parents understand their money. Mandarin Chinese, excel spreadsheet and community service courses are included.