Industry News – February 12, 2019
February 12, 2019
JPMorgan Chase & Co. Launches Advancing Black Pathways
Yesterday, JPMorgan Chase & Co. hosted a kickoff event for its Advancing Black Pathways Initiative, which expands access to resources that can help Black Americans build wealth, grow a business, and reap the benefits of a growing economy.
Source: JPMorgan Chase
New Payday Lending Rules Present An Opportunity For Fintechs
With a government shutdown fresh on the minds of many people in need of short-term capital, and payday lenders free to potentially engage in predatory lending, fintechs have an opportunity to capitalize.
The Hidden “Black Tax” on the Wealth of Black Entrepreneurs
Many black entrepreneurs feel pressure to share their income with struggling family members, making it difficult for them to grow their businesses and build generational wealth.
Source: Fast Company
Confirmation Hearing Set for Hood & Harper to NCUA Board
The Senate Banking Committee will hold a confirmation hearing on the nominations of Rodney Hood and Todd Harper for seats on the NCUA board on February 14th.
Source: Credit Union Times
Small U.S. Firms Owned by Women Are Catching Up But Still Behind
A recent study found that while women make up 36 percent of business owners, up from about 5 percent in 1972, their companies start with revenue levels 34 percent below male-owned firms.