Tag: Communities

Mastercard to Pledge $500M To Help End Financial Inequity in Black Communities

The struggle is long lived, and has a way to go. However, more citizens, and companies are realizing America has perpetuated racial discrimination, and inequality. Those becoming aware are speaking on behalf of Black Lives Matter, and corporations like Mastercard are helping Black communities get an equal shot with a $500 million investment over the next five years.

The program is designed to help Black entrepreneurs, and residents get equal access to financial support to fund products, services, and technology. Vice chairman & president, Strategic Growth for Mastercard, Mike Froman says they have always focused on financial inclusion, but the current push for equality has refocused their efforts.

Mastercard will take on several projects across the nation, including he L.A. Mayors Fund and Accelerator for America. These particular funds will help L.A. residents impacted by coronavirus and increase banking relationships in the Black and African American community.

During the coronavirus

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Mastercard’s investment in Black communities

“In the City of St. Louis, we’re exploring ways this investment can support our youth and future generations”

ST. LOUIS — Mastercard announced that it is investing $500 million in Black communities over the next five years, including new investment in St. Louis. 

This commitment includes products, services, technology and financial support, as well as concentrated investments that will focus on providing Black-owned businesses and Black people access to affordable financial tools and capital.

“This is a time for action,” Ajay Banga, chief executive officer at Mastercard, said in a statement. “We have an obligation as a corporate citizen to ensure the digital economy is enabled for all, an obligation to be part of the positive change Black communities so rightly need now.”

Mastercard plans to focus on three areas:

Expanding city programs to support Black communities. In collaboration with city leaders, Mastercard is initiating efforts in seven cities

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Mastercard investing $500 million in Black communities, including Birmingham

Birmingham is one of seven cities in the U.S. where Mastercard is focusing a $500 million initiative to narrow the divide in opportunity and wealth to Black communities.

The five-year initiative mapped out by the company Thursday includes products, services, technology and financial support for Blacks and Black-owned businesses.

Birmingham, along with Atlanta, Dayton, Los Angeles, New Orleans, New York City and St. Louis, will receive support through partnerships, technology and data.

Mastercard did not give many details on Birmingham specifically, though it mentioned outreaches in other cities. In Atlanta, the company’s efforts include working with the city’s Office of Equity, Diversity and Inclusion to provide rent relief to avoid evictions. The program has already distributed $36 million to Los Angeles residents affected by the COVID-19 pandemic, and helped 24,000 residents of New York City through community organizations.

All seven cities will be seeing digital services offered through Black-owned fintech

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Mastercard to invest $500 million into Black communities over the next 5 years

Mastercard has announced it is launching a massive $500 million investment into Black communities amid the coronavirus pandemic, which has hit those groups disproportionately hard.

The initiative — announced Thursday — also comes on the heels of a summer that has seen nationwide protests and the resurgence of the Black Lives Matter movement following the killing of George Floyd, a Black man, by a white police officer at the end of May.

“[Floyd’s death] was a big context for this work,” Marla Blow, senior vice president of social impact at Mastercard, told The Hill. “It really highlighted the importance of the disparities in our society and really drove home the urgency of the moment that we are in. While we’re dealing with all of the already ambient vulnerability associated with [COVID-19] and with people being vulnerable economically … we’re now faced with the fact that there’s another risk that’s specifically

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Mastercard pledges $500 million to promote financial inclusion in Black communities

Mastercard is committing $500 million toward a series of initiatives meant to increase financial inclusion among Black communities and close the racial wealth and opportunity gap in the U.S., the digital payments giant announced today.



a man sitting at a table


© Petri Oeschger via Getty Images


Mastercard’s investment, to be made over a five-year period, will be spread across an array of programs designed to help financially underserved Black communities more easily access financial products, services, and support. 

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Among its efforts, the company will work with seven cities across the country (Atlanta, Birmingham, Dayton, Los Angeles, New Orleans, New York, and St. Louis) to help them more easily distribute financial aid and resources to Black communities. Mastercard will also look to make digital financial products more affordable and accessible to underbanked Black customers, and will team with community development financial institutions (CDFIs) to increase capital flow to Black business owners.

The commitment sees

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Mastercard Pledges $500 million to Help Close Racial Wealth and Opportunity Gap for Black Communities Across America

The MarketWatch News Department was not involved in the creation of this content.

In its sustained efforts to build a more inclusive global digital economy, Mastercard is investing $500 million in Black communities over the next five years. This commitment includes products, services, technology and financial support, as well as concentrated investments that will focus on providing Black-owned businesses and Black people access to affordable financial tools and capital.

“This is a time for action. We have an obligation as a corporate citizen to ensure the digital economy is enabled for all, an obligation to be part of the positive change Black communities so rightly need now,” said Ajay Banga, Chief Executive Officer at Mastercard. “We are starting in cities across the country with on-the-ground efforts meant to drive out inequities and create the opportunities, connections and resources that will spark economic growth for the long term.”

With half

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Mastercard will spend $500 million to expand financial access in Black communities

Mastercard is pledging $500 million over the next five years to expand financial inclusion for Black individuals and businesses. Through three interconnected initiatives, and with the help of various partners, the financial services company aims to deliver tools and resources to allow many long-excluded African Americans to access affordable financial services and build prosperity.

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It’s not new territory for the company; Mastercard has just completed a goal of bringing 500 million unbanked and underbanked people into the financial system. But this new initiative will directly target members of the Black community, who have been hit particularly hard by the pandemic. The Federal Reserve Bank of New York found that Black businesses have had a 41% closure rate—versus 17% for white businesses. Even in ordinary times, the median wealth of Black families is a tenth of that of white families.

“We’ve done a lot of research, we know the

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Century Communities Acquires Skye Canyon Master Plan in Las Vegas

LAS VEGAS, Sept. 16, 2020 /PRNewswire/ — Century Communities, Inc. (NYSE: CCS), a top 10 national homebuilder, recently acquired the remaining 400+ acres of the 1,700-acre Skye Canyon development in Las Vegas, which ranks as the 22nd top-selling master-planned community in the country based on new home sales. The acquisition makes Century Communities Skye Canyon’s master developer. Century Communities has a successful track record of overseeing the build-out of several master-planned communities in the region, such as Tuscany Village in Henderson and Rhodes Ranch in southwest Las Vegas. Since the acquisition, Century Communities has already begun construction on what will eventually be 2,500 additional homes for new and existing Skye Canyon communities, including three communities slated to open in 2021, and three actively selling communities: Aspen, Madera and Northglenn.

Explore Skye Canyon homes and amenities at https://skyecanyon.com.

“Century Communities has been at Skye Canyon

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Communities in U.S. rush to save Main Street as federal relief stalls

A man walks his dog past a placard stating “ALL SMALL BUSINESS IS ESSENTIAL” outside Atilis Gym on May 20, 2020 in Bellmawr, New Jersey.

Mark Makela | Getty Images

Last week, the U.S. Senate gave up the fight to save America’s small businesses. They walked away from negotiations that would have extended a lifeline to grass roots entrepreneurs on the front lines of one of the worst economic catastrophes in U.S. history.

But from Colorado to Ohio to Virginia, we have seen communities across the country stepping up where the federal government has failed. As we’ve been researching an upcoming book about the future of entrepreneurship, we have found cities dipping deep into strained budgets, turning to new technological solutions and coming together in creative ways to save their local businesses, lending hands and providing investment dollars to struggling businesses in their communities.

Communities are leading where the Trump

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Mastercard Launches Partnership with HSBC to Promote More Sustainable and Inclusive Communities

The MarketWatch News Department was not involved in the creation of this content.

Mastercard today announced a new partnership with HSBC to accelerate sustainable urban development. Through City Possible, Mastercard’s partnership and co-creation framework for cities, the two global leaders will bring their collective resources, expertise, and integrated urban development frameworks to the City Possible network.

Since its inception, City Possible has facilitated a framework where members can draw on the collective expertise and resources of all stakeholders in order to replicate innovative solutions that address urban challenges. City Possible works to foster collaboration and co-creation, drive inclusive economic development, and build more resilient communities.

HSBC has an extensive track record in developing financial products that support a more sustainable future. It is a global finance provider to companies worldwide that deliver the full spectrum of city systems and urban services, as well as providing personal banking for millions of

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