Historically, financial institutions in the United States have not served people of color effectively or fairly. Even today, people of color have less access to credit, pay higher interest rates for loans, and are less likely to receive venture capital funding as compared to their White counterparts. Serving these markets effectively is not only a moral imperative, but also an economic opportunity to enhance a company’s bottom line.

A follow-up to The Competitive Advantage of Racial Equity, developed in partnership with FSG, this report highlights specific action steps leading companies in the financial sector have taken to create business value by using credit, savings, and investment products to address the unique challenges faced by communities of color. The companies featured in this report—Citi, Oportun, OneUnited Bank, Prudential Financial, and Impact America Fund—have found competitive advantage through their strategies to serve consumers who have historically been excluded.

Top Takeaways

1. With a deeper understanding of the impacts of structural racism, financial services companies can avoid one-size-fits-all approaches to product and service development and better serve historically excluded populations of color and thus reach expanded markets.
2. Leading financial services companies are reconceiving products and services to better meet the needs of people of color and are strengthening their external business environment by supporting public policies and norms that expand financial security.
3. These companies also have strong internal catalysts—including a diverse employee base and a culture of inclusion—that enable them to implement strategies that advance racial equity and business growth.

Find all related material for The Corporate Racial Equity Advantage. 

Like much of California, Orange County experienced demographic change ahead of national shifts and will continue to do so through at least 2050. Today about 58 percent are residents of color; however racial and economic inequalities persist, threatening future prosperity countywide. This profile examines demographic trends and indicators of equitable growth, highlighting strengths and areas of vulnerability in relation to the goal of building a strong, resilient economy. It was developed by PolicyLink and the Program for Environmental and Regional Equity (PERE) to support Orange County funders, advocacy groups, elected officials, planners, business leaders, and others working to build a stronger and more equitable region. Read the profile and summary, and see the press release.

Amid the worst renter crisis in a generation, it is time for policymakers to respond to the call for rent control to protect renters from skyrocketing rents and displacement. Rent control has tremendous payoff: if the rent control policies being debated right now in six states and two cities become reality, 12.7 million renter households will be stabilized. If adopted by states nationwide, 42 million households could be stabilized.

• Read the full report on how rent control can build stable, healthy communities. This report was produced by a collaboration between PolicyLink, the Center for Popular Democracy, and the Right To The City Alliance.
• Our Homes, Our Future: How Rent Control Can Build Stable, Healthy Communities (Executive Summary)
• Rent Control Myths Versus Reality: The Evidence on Unintended Consequences

Sarah Treuhaft highlights key findings from the report, and speakers from Oregon and New York will discuss their local campaigns and the growing movement led by renters to push for stronger tenant protection laws. View the webinar recording.

This profile highlights the Farm to Plate (F2P) Investment Program, which was designed to strategically strengthen the state’s food and farm sector and encourage the purchasing of local foods.

Describes new methods for identifying, measuring, and mapping disadvantaged unincorporated communities and a first account of the findings from applying these new methods to the San Joaquin Valley.

This technical guide provides a step-by-step detailed account of technical mapping methods and additional sources for data, and will help those interested in replicating this model.

Winter 2014 edition of the National Civic Review features Judith Bell and Larry Cohen discussing the Convergence Partnership’s approach to place-based environmental and policy change, using the power of collaboration to create a “field of fields.”