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Posts Tagged with "Federal Reserve system"

Communities of color are ‘canaries in the coal mine’ of economic crisis

September 5, 2010

Foreclosures have drained $350 billion in assets from communities of color and Small Business Administration lending to minority-owned businesses has cratered, contributing to a growing racial wealth gap. For every dollar of wealth owned by a white family, an African American or Latino family owns just 16 cents.

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