Heard on the Street: racism in the banking industry, financing impact investing infrastructure, and eliminating the black-white wealth gap

By December 16, 2019 Heard on the Street

Heard on the Street – here’s what we were reading last week:

This Is What Racism Sounds Like in the Banking Industry: It’s no secret that racism has been baked into the American banking system. A JPMorgan employee and a customer secretly recorded their conversations with bank employees.

$12.5 million Tipping Point Fund, A Coalition of High-Profile Donors, Will Finance Impact Investing Infrastructure: Public advocacy and a shared system for measurement are critical to building a solid infrastructure for impact investing. But they haven’t received a lot of love from a lot of large funders. To address that gap, nine foundations and family offices just announced the launch of the Tipping Point Fund (TPF).

CAP Announces Formation of the National Advisory Council on Eliminating the Black-White Wealth Gap: For 400 years, structural racism embedded in federal, state, and local policies has produced and maintained a stark wealth gap between Black and white Americans. The Center for American Progress considers it imperative that the next president take meaningful steps to address the racial wealth gap upon taking office.

Can Biology Class Reduce Racism?: Biology textbooks used in American high schools do not go near the sensitive question of whether genetics can explain why African-Americans are over-represented as football players and why a disproportionate number of American scientists are white or Asian. But in a study starting this month, a group of biology teachers from across the country will address it head-on.