Auto insurance companies’ use of credit information to determine rates poses a disproportionate financial burden on Black and low-income communities, but financial experts say there are ways to protect yourself. A recent report from Consumer Federation of America found that Americans with fair or poor credit — regardless of their driving records — pay, on […]
financial literacy
Posted inEducation, K-12
What’s Missing in Financial Literacy Courses in School? Experts Explain.
At least 15 states have joined the growing movement to make financial literacy a requirement for high school graduation. Utah became the first to require a half-credit financial literacy class as a graduation mandate in 2004. Today, eight states require a stand-alone course that provides students with an understanding of personal finance and skills to […]
Posted inMoney, Wealth Gap
These Alternative Banks Could Be the Key to Shrinking the Racial Wealth Gap
Following the racial justice protests of 2020, several financial corporations and foundations promised to make investments to advance racial equality. Companies such as JP Chase Morgan, Mastercard, and Citi Foundation poured millions of dollars into Black community development financial institutions (CDFIs) as white business leaders reckoned with the ways systemic racism has impaired economic progress […]
Posted inMoney, Wealth Gap
Struggling to Talk About Money? Here’s a List of Resources to Teach Financial Literacy.
As more states move to mandate financial literacy as a prerequisite for high school graduation, financial experts worry the courses lack the historical context needed to prepare Black youth for wealth building in America. For years, Black people have sounded the alarm for more holistic financial education to address the racial wealth gap. Black people […]