Congressional Black Caucus Foundation makes historic investment in minority banks

As part of a new campaign to strengthen the economy in Black communities

WASHINGTON, D.C. – The Congressional Black Caucus Foundation, Inc. (CBCF) will reveal its $5 million investment in African-American banking institutions as part of a broader effort to increase the availability of loans for businesses and individuals in African-American communities. CBCF is targeting banks in four regions of the country-the North, South, East and Midwest-in an attempt to achieve geographic balance in an initiative that could prove crucial in lifting the economic fortunes of black communities. In all, five banks will receive $1 million each.

The announcement will be made at a press conference today, September 17th at Noon to discuss CBCF’s record investment in minority banks, at the Walter E. Washington Convention Center L Street Bridge, 801 Mount Vernon Place, NW, Washington, DC

Participants in the press conference are:

U.S. Rep. Chaka Fattah (PA), board chairman, Congressional Black Caucus Foundation

A. Shuanise Washington, president and CEO, Congressional Black Caucus Foundation

Michael Grant, president, National Bankers Association

Doyle Mitchell, board chair, National Bankers Association and president, Industrial Bank

Russell Kashian, PhD, professor, Department of Economics, University of Wisconsin Whitewater

Ron Busby, CEO, U.S. Black Chambers, Inc.

The Congressional Black Caucus Foundation, Inc., established in 1976, is a non-partisan, non-profit, public policy, research and educational institute intended to broaden and elevate the influence of African Americans in the political, legislative and public policy arenas.