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Congressional Black Caucus Foundation Makes Historic Deposit in Black Banks By Hazel Trice Edney

Posted Sept. 17, 2013
Updated Sept. 23, 2013

Congressional Black Caucus Foundation Makes Historic Deposit in Black Banks
By Hazel Trice Edney

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CBCF President/CEO Shuanise Washington announce historic deposit in Black-owned banks. In the back ground, National Bankers Association President President Michael Grant and CBCF Chairman Chaka Fattah look on. PHOTO: Rodney L. Minor/BRTV

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Doyle Mitchell, chairman of the National Bankers Association and President/CEO of Industrial Bank tells the benefits of the $5 million deposit by the CBC Foundation. CBCF Chairman Chaka Fattah (D-Pa.) and President/CEO Shuanise Washington listen. PHOTO: Rodney L. Minor/BRTV

(TriceEdneyWire.com) -The Congressional Black Caucus Foundation, kicking off its Annual Legislative Conference (ALC) with the theme, “It Starts With You,” last week aimed to illustrate that theme through economic action.

The organization deposited $5 million into five Black-owned banks, continuing a national movement, fueled by the National Bankers Association, to reinvest in the community by supporting Black and minority-owned banks.

“Our $5 million investment is part of a new effort at the Foundation to strengthen the economy and Black communities. We saw a need and an opportunity to support much needed progress in economic recovery in African-American communities and we seized it,” said CBCF President/CEO Shuanise Washington at a press conference Sept. 17. “Today’s announcement is truly historic. This investment is a critical initiative in lifting the economic fortunes of African-American and minority communities. Historically and still today, minority and women-owned banks have been an important source of credit and accessible financial services. minority-owned banking is key to reaching unbanked, under banked and financially underserved African-American communities.”

Members of the Congressional Black Caucus have long pointed to the scourge of economic suffering and unemployment in Black communities as being among the chief issues across America. Two years ago, CBC members even held job fairs around the country, watching as African-Americans lined up around entire city blocks.

“The Foundation wants to set an example. And we think the best way to do that is not rhetorically but through action. And where we invest our money, we think will lay a pathway for others who want to follow and support the work of the Foundation,” said CBCF Chairman Chaka Fattah (D-Pa.). “So African-American financial institutions play an extraordinarily important role in the eco-system of the development of entrepreneurs in our communities; also to help families seeking to send a young person to college or a group of people who are trying to organize and develop a religious institution, a family trying to buy a home a get a mortgage, these institutions are vital.”

The five Black banks receiving $1 million each are Industrial Bank in Washington, D.C.; Liberty Bank & Trust Company in New Orleans; Mechanics & Farmers Bank in Durham; Seaway Bank & Trust Company in Chicago and City National Bank of New Jersey in Newark.

The movement to reinvest in Black banks actually started in earnest last year when the U. S. Black Chamber of Commerce and the Washington, D.C.-based National Bankers Association, led by President/CEO Michael Grant, established a partnership to establish the Chamber’s primary account with Industrial.

Grant praised the CBCF for its historic vision of a world free of economic disparities “dating back to greats like Congressional Representatives Shirley Chisholm, Parren Mitchell, Louis Stokes, Charlie Rangel, John Conyers, Ron Dellums, and others.”

He quoted Dr. King, who, in his final days fought for economic justice.

“Dr. King was known for his prophecy. In closing, I would like to predict the future as well. If Black Americans will significantly increase their support of Black businesses, in a single generation, we would witness a drastic reduction in unemployment, an increase in high school graduation rates and a decline in crime in our neighborhoods,” Grant said.

The millions will go a long way in helping individuals in communities that have been hardest hit back the economic downturn says Doyle Mitchell, NBA chair and president/CEO of Industrial Bank, which will turn 80 next year.

“I have put the numbers together and I see now…Over  50 percent of our loans that we make go into underserved communities and nearly 80 percent of our loans go right here in Metropolitan Washington. According to the FDIC, small banks, community banks, make almost 50 percent of all small business loans. We know that small businesses in this country employ nearly 80 percent of the all the country’s individuals,” Mitchell says. “Most of the communities served by African-American banks are urban and disadvantaged. And while banks of other ethnic groups, Asians and Hispanics do an excellent job at that we do the same job right here in African-American communities.”

U. S. Black chamber President/CEO Ron Busby stressed the need for strong banks to undergird small businesses that in turn fuel the economy.

“When we surveyed our businesses, the common concern they all had was access to capital,” said Busby, who oversees 112 chambers in 24 states, representing over 240,000 Black-owned business nationwide. “If the number one concern for our businesses is access then capital; then the number one concern for our businesses is unemployment. There are roughly two million African-American owned businesses in America and approximately 14 percent unemployment for African-Americans. The African-American unemployment rate in this country is almost double the national average. If we can grow our firms to where they have the capacity to employ just one additional employee, we can quell the high unemployment that plagues our community.”

The benefits of Black-owned banks – when they are profitable and supported within their own communities are extensive, experts say.

“Minority-Owned Banks – and specifically Black-owned Banks - are a foundational business in America's
urban area,” says Dr. Russ Kashian, an economics professor at the University of Wisconsin-Whitewater, who participated in the press conference. “They serve several key roles.  They provide banking services to areas that are often barren of any other mainstream banking services.  They attract monies into the community through reasonably aggressive interest rates on CD's. They are a source of valuable ‘jobs with ladders’ for the neighborhood - these jobs for tellers, loan officers, mortgage originators offer family wages and the opportunity for training and skill enrichment.”

President Obama has made it clear that support for the “middle class” is a key strategy to strengthen the economy. But, Washington says she hopes the move to strengthen Black banks will also “draw the traditionally unbanked poor into the mainstream economy.”

Fattah says he hopes other institutions will take heed to the example that has been set.

“The pillars of power have to be both political and economic,” he said. “And we are leaning forward to say that we’re going to make an investment and we expect that others who are our allies and our friends and support the foundation will follow likewise.”

Shooting of a Another Unarmed Black Man Raises Ire in Charlotte

Sept. 17, 2013

Shooting of a Another Unarmed Black Man Raises Ire in Charlotte

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Jonathan Ferrell, 24, was shot 10 times by police Saturday morning while looking for help after a car crash.

(TriceEdneyWire.com) — Yet another police killing of an unarmed Black man has sparked outrage in Charlotte, N.C. This time, a former college foot ball player, 24, was shot 10 times by a police officer while he sought help following a car accident.

According to widespread reports, Jonathan Ferrell was shot Saturday, Sept. 14, by a White Charlotte police Officer Randall Kerrick. Kerrick was arrested and was arraigned Tuesday on volunteer manslaughter charges.

Reports say Kerrick fired his weapon 12 times as Ferrell ran toward him, apparently seeking help after involvement in a car accident nearby. Ferrell had reportedly stopped at the home of woman, who’d opened the door around 2:30 a.m. thinking he was her husband; then called 911 when she saw he was a stranger.

The scourge of police and law enforcement violence against unarmed Black males has been a consistent problem in America. Civil rights leaders have pushed for greater citizen oversight of police among remedies that have been tried in some cities across the country.

Ferrell was a former football player for Florida A&M University. He reportedly moved to Charlotte last year to be with his fiancée.

"Any day in this country, an African-American man can be killed for no reason by the people who are supposed to be protecting him," Kojo Nantambu, president of the Charlotte chapter of the National Association for the Advancement of Colored People (NAACP), said at a press conference Monday, according to the Associated Press. "That's not an anomaly in this country. They're never given the benefit of the doubt, and that has to change.”

 

Advocates Quietly Challenging Voter ID Law by Zenitha Prince

Sept. 15, 2013

Advocates Quietly Challenging Voter ID Law
By Zenitha Prince

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Special to the Trice Edney News Wire from the Afro American Newspaper

(TriceEdneyWire.com) - The first legal challenge to an elections law under Section 2 of the Voting Rights Act (VRA), since the U.S. Supreme Court shot down preclearance protections under Section 5 of the VRA in June, is underway with little to no fanfare.

On Nov. 4, 2013, U.S. District Judge Lynn Adelman will hear a challenge to Wisconsin’s voter identification law brought by Advancement Project, a civil rights advocacy group, and pro bono counsel Arnold & Porter.

In 2011, the state’s Republican-led legislature passed a law that would require voters to present a government-issued ID in order to cast a ballot in local, state and federal elections. The new measure would have counted Wisconsin among nearly three dozen states with voter ID laws, according to the National Conference of State Legislatures.

Republican proponents say such laws protect against voter fraud. But Democrats and other detractors argue there is little evidence of rampant voter fraud to support the need for such changes, but instead, the laws unfairly hinders minorities, the elderly and the poor from participating in elections.

“As the leading democracy of the world, the U.S. should work to keep our voting system free, fair, and accessible to all Americans,” said Advancement Project Co-Director Penda Hair in a statement. “Yet we are witnessing the greatest assault on voting rights in decades.”

In March 2012, Dane County Circuit Court Judge Richard G. Niess ruled in favor of the League of Women Voters and others, who claimed Wisconsin’s new law erected barriers to full citizen participation in the voting process.

In May of this year, the Fourth District Court of Appeals overturned Niess’ ruling, saying, among other things, that the League "makes no effective argument that, on its face, the [voter ID] requirement makes voting so difficult and inconvenient as to amount to a denial of the right to vote."

Even with that victory, Wisconsin faces another challenge in the face of the Advancement Project’s motion, which alleges that the law is discriminatory as determined by Section 2 of the VRA.

According to evidence submitted to the court, the group said, close to 28,000 African-American and 12,000 Hispanic voters lack a driver’s license or state ID. The numbers equal roughly 16 percent of African-American and 25 percent of Hispanic voters, compared to 10 percent of White voters, who may face difficulty casting a ballot because they lack the required documentation.

The numbers reflect what civil rights groups have been saying all along—that these new laws unjustly target minorities.

Restrictive voter ID laws were among a wave of regressive voting policies that swept across the country in the two years leading up to the 2012 presidential election. Cuts to early voting, voter roll purges, proof-of-citizenship demands, and voter challenges at the polls increased across the country.

And voters of color were disproportionately impacted, activists said, since they were less likely to have state-issued photo ID, more likely to use early voting, more likely to be naturalized citizens, and more likely to be targeted for polling place intimidation.

And the Supreme Court’s June 2013 decision in Shelby County v. Holder, which blocked the U.S. Justice Department’s ability to defend citizens from discriminatory voting practices under Section 5 of the Voting Rights Act, simply empowered even more states to pursue those suppressive laws.

“After Shelby, Section 2 provides one of the last lines of defense against legislatures that would disenfranchise voters of color,” Hair said. “The strength of that defense will be tested for the first time in this case and we are confident it will prevail."

CBC-ALC Meeting This Week: ‘It Starts With You’ Theme By Zenitha Prince

Sept. 15, 2013

CBC-ALC Meeting This Week: ‘It Starts With You’
By Zenitha Prince

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A. Shaunise Washington, president, CBCF
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Rep. Chaka Fattah, (D-Pa.), chairman, CBCF
 

Special to the Trice Edney News Wire from the Afro American Newspaper

(TriceEdneyWire.com) - The 43rd Annual Legislative Conference of the Congressional Black Caucus Foundation will gather under the theme “It Starts With You” from Sept.18-21 at the Walter E. Washington Convention Center in Washington, D.C.

About 10,000 persons are expected to attend the yearly gathering of Washington power players, industry leaders and ordinary men and women in the nation’s capital.

With an eye to developing leaders, informing policy and educating the public, the conclave will comprise more than 70 forums and brain trusts on the critical issues facing African-Americans and the African Diaspora.

Most notably, this year’s national town hall meeting, “From Poverty to Prosperity: Confronting Violence, Restoring Opportunity, and Investing in our Youth" will address the impact of poverty, juvenile justice and gun violence.

"ALC is recognized as one of the most important gatherings of African-Americans in the nation," said CBCF Chairman Rep. Chaka Fattah (D-Pa.), in a statement. "Every year, we see thousands of returning attendees and even more new faces ready to join the dialogue so they too can be agents of change in their communities. Our communities find support through the Foundation's work on policies, programs and initiatives. It is our focused agenda that provides greater opportunities for all Americans."

In a question-and-answer session with the AFRO, the CBCF’s newly-appointed President and CEO A. Shaunise Washington shared her thoughts about the yearly gathering.

AFRO: What will be the focus of this year’s conference?

CBCF CEO Washington: A couple of weeks ago, we as a nation commemorated the 50th anniversary of the March on Washington. However, just a few weeks before that historic celebration, we deplored the court rulings on the Voting Rights Act and the Trayvon Martin case.

As we enter the final months of this year, we are looking for solutions to the issues plaguing Black communities around the world. And through this year’s conference, we endeavor to ignite personal leadership, a passion for public service and the pursuit of justice for all.

The conference will utilize social media, including the CBCF app which will help attendees navigate through more than 70 issue forums.

Our news-making town hall meeting will focus on the impact of poverty, juvenile justice, Stand Your Ground laws, and gun violence. We will also provide interactive sessions that explore unemployment in the African-American community, the benefits of the Affordable Care Act and immigration issues, as it relates to immigrants from the Caribbean and Diaspora.

AFRO: What’s new in this year’s conference?

Washington: This year we will unveil our new Enterprise Pavilion at the Exhibits Showcase, to increase the value of the Exhibit Hall experience for entrepreneurs and small business owners. Corporations will exhibit alongside government agencies and provide information about how to secure federal and private contracts.

Close to 10,000 are expected to visit the showcase. It will be open Sept. 19 from noon to 7 p.m.; Sept. 20 from 9 a.m. to 6 p.m., and Sept. 21 from 8 a.m. to 1 p.m. We will also have free health screenings, an authors pavilion and a robust marketplace.

AFRO: What entertainment will be offered?

Washington: I am looking forward to hearing some of the top gospel choirs at our Gospel Extravaganza, and of course, taking a moment to enjoy our popular jazz concert.

The culminating event is the Phoenix Awards Dinner... an opportunity for us to celebrate the hard-fought achievements of public servants, embrace colleagues from across the governmental and business sectors, and raise money for the many important programs CBCF undertakes.

For more information, visit: www.facebook.com/CBCFInc and www.twitter.com/CBCFInc (#CBCFALC13). To register, visit: http://cbcfinc.org/registration-2013.html.

What the Affordable Care Act Means to You by Edna Kane-Williams

Oct. 1, 2013

Special Commentary

What the Affordable Care Act Means to You
By Edna Kane-Williams

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(TriceEdneyWire.com) - We’ve heard about it in bits and pieces over the past three years – the Affordable Care Act (ACA) and how it will benefit all Americans. But, the specific details can be confusing, even overwhelming. At AARP, we are here to untangle the jargon and empower you with the answers and information you are seeking for yourself and for your family.

Beginning Jan. 1, 2014, the ACA will provide 6.8 million uninsured African-Americans an opportunity to get affordable health insurance coverage. The bottom line is if you are not insured, low cost or free plans will soon be available. If you already have insurance, you may be able to find an even more affordable plan.

Here is what has already happened through the ACA:

  • 3.1 million young adults have gained coverage through their parents’ health insurance plans. This includes more than 500,000 young African-American adults between ages 19 and 25, according to the U. S. Department of Health and Human Services (HHS).
  • 6.3 million seniors are paying less for prescription drugs. And if you have Medicare Part D, and you reach the coverage gap or “doughnut hole” in 2013, you will get more than a 50 percent discount on brand name prescription drugs and more than a 20 percent discount on generic drugs while in the coverage gap. The discounts will continue until 2020 when the gap will end.
  • 105 million Americans are paying less for preventative care and no longer face limits on lifetime coverage, according to HHS. The 4.5 million elderly and disabled African-Americans who receive health coverage from Medicare also have access to many preventive services with no cost-sharing, including annual wellness visits with personalized prevention plans, diabetes and colorectal cancer screening, bone mass measurement and mammograms, according to HHS.
  • 17 million children with pre-existing conditions are no longer denied coverage or charged extra. The issue of pre-existing conditions has been a consistent barrier to obtaining insurance. Under the ACA, beginning in 2014, insurance companies can no longer deny you coverage, even if you have a pre-existing condition like asthma, diabetes, high-blood pressure or even cancer. And if you or a family member gets sick or injured, insurance companies can’t cut off your coverage or cancel your plan.
  • Because African-Americans suffer from diseases such as obesity, heart disease, and diabetes at higher levels than America’s general population, the ACA will not only provide greater access to affordable quality health care, but will also “invest in prevention and wellness, and give individuals and families more control over their care,” according to HHS.

The obvious question is how do you get started with the benefits? On October 1, 2013, a recently created website, HeathCare.gov, will present what is called the Health Insurance Marketplace. The website will present competing insurance agencies and help guide health care seekers – individuals, families and small businesses - to the best decisions on which plan to choose or switch over to.

For more information about the Affordable Care Act and how the law applies to you, visit AARP's HealthLawAnswers.org. Our goal is to make it plain.

Edna Kane-Williams is vice-president of Multicultural Engagement at AARP.

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