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. 

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.

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.”

This curriculum, conceived as a PowerPoint presentation, is based in the recognition of the central importance of housing and neighborhood opportunity to the social determinants of health. Homes, neighborhoods, air and water quality have significant implications for population health, but have not been widely considered in housing planning, and rarely through a racial equity lens. The curriculum addresses social determinant factors such as exposure to toxics/crime/physical stressors; access to secure, adequate, affordable housing; socioeconomic status; access to fresh and healthy foods; educational attainment; and racial and social isolation. A focus on social determinants looks for solutions beyond medical care and the treatment of diseases and chronic conditions, and toward prevention strategies and the equitable development of communities. The narrative document, a facilitator’s guide, supports the PowerPoint presentation and can be used to guide stakeholders through the steps of an effective equitable healthy housing planning process. The facilitator’s guide is annotated with the corresponding slide numbers of the PowerPoint.

The Competitive Advantage of Racial Equity, and the accompanying op-ed in Fortune, both produced in partnership with FSG. It is our aspiration that these business strategies will complement the push, from outside and inside corporations, for more fair and equitable operations.

The report goes beyond the essential ingredient of workforce diversity, as a means for business to address past and continuing discrimination while improving their competitiveness, to challenge the corporate sector to affirmatively advance racial equity through its products, services, and public policy positions.

Find all related material for The Corporate Racial Equity Advantage

ArtPlace commissioned Transportation for America (T4A) to write and produce a rigorous national examination of creative placemaking in the transportation planning process. This resource identifies ways that transportation professionals can integrate artists to deliver transportation projects more smoothly, improve safety, and build community support. This field scan explores seven of the most pressing challenges facing the transportation sector today and identifies how arts and cultural strategies can contribute to solutions.

The diversity of the nine-county San Francisco Bay Area region is a tremendous economic asset – if people of color are fully included as workers, entrepreneurs, and innovators. Equitable growth is the path to sustained economic prosperity. In fact, closing racial gaps in income would boost the regional economy by more than $200 billion. The 2017 Nine-County Bay Area Equity Profile complements an initial five-county profile released two years ago and recently updated. Read the profile.