Economic Development & Wealth Creation

The racial wealth gap is widening. In fact, to gain wealth comparable to White high school drop outs, African Americans have to complete both high school and some college. This means that Black Americans need to invest more resources and time to achieve the same results as White Americans who are not forced to make the same level of investment. Bridging this gap requires proactive policies that reverse the impact of the racially discriminatory practices of freezing Black families out of capital, housing, and educational markets. The CBC Economic Development and Wealth Creation Task Force promotes programs that help improve economic conditions in historically underserved communities, including neighborhood stabilization funds, community development block grants, and financial institutions, small business procurement and technical assistance and New Markets Tax Credits. The Task Force also tracks developments on the fintech horizon to ensure new technologies provide more evenly distributed economic growth and exhibit best practices of fair lending and non-discrimination.