If you’re overwhelmed by your banking options, think about your ability to shape social change with your money by seeking out financial institutions that want to use your money to create a more sustainable and fair world.
It has never been easier to open a bank account, especially with the spread of online services, but there has also never been so much choice about where to put your money. Corporate social responsibility is the self-regulation that businesses do to help promote a positive impact on environmental or social issues, such as racial equity.refers to the ways banks can reduce harm or create opportunities for good.
Other banks or credit unions might be committed to equity goals by providing financial literacy programs to their communities or by giving more loans to minority-owned small businesses.It’s easy to imagine that the money you keep in your savings account, checking account or certificate of deposit is just waiting for you to use it. But your bank or credit union is using your money to lend to or invest in businesses or other customers.
The U.S. banking system has a long history of discriminating against people of color, and you can put your money with a bank or credit union that’s working to support these marginalized groups. Elizabeth Vivirito, a financial services consultant who specializes in diversity, equity and inclusion, or DEI, research, said she has observed more robust changes in the banking industry around racial equity since the murder of George Floyd, who was Black, by a Minneapolis police officer in May 2020.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ron DeSantis raises $8.2 million in first 24 hours after launching presidential campaignThe sum includes online donations and money raised by fundraisers at a gathering in Miami to dial for contributions, DeSantis' campaign confirmed.
Read more »
UPS store owner stops $25,000 scam, warns against common scamsMany scams depend on victims sending payments through a money app or a wiring service. MORE ⬇️
Read more »
Potential Debt-Ceiling Deal Starts to Take Shape as Deadline LoomsNegotiators are zeroing in on a deal to raise the debt limit, ahead of the June 1 deadline when the government could run short of money to pay its debts and fund government programs
Read more »
Pay down your mortgage. Keep a 60/40 stock-bond portfolio. Some money rules are meant to be broken.Financial advisers debate rules of thumb designed to help investors make sound money moves.
Read more »
Global money market funds attract heavy inflows as US debt ceiling loomsGlobal money market funds drew inflows for a fifth straight week in the seven days to May 24 as investors resorted to buying safer assets on caution with time running out for talks over raising the U.S. debt ceiling.
Read more »
Kim Zolciak Selling Her Wigs to Make Money in Midst of Divorce from Kroy BiermannKim Zolciak and Kroy Biermann's divorce war seems to have been triggered by financial woes, and the latest turn -- selling her wigs -- seems to underscore what's behind it all.
Read more »