Business
Poor Communities Lose Billions to Predatory Lenders
Payday lenders and pawn shops are more common in poor neighborhoods (Wikimedia Commons)
By Freddie Allen
NNPA Senior Washington Correspondent
WASHINGTON (NNPA) – Predatory lenders continue to target poor, Black and Latino communities, siphoning off $103 billion in fees and interests every year, and the rest of us are paying for it, according to a recent report by United for a Fair Economy.
“This is more money lost in poor communities than the United States spends on domestic food aid annually,” the report said. “We as a society end up subsidizing that lost income (an average of $3,029 per affected household) through a social safety net that is already underfunded and overcapacity.”
In “State of the Dream 2015: Underbanked and Overcharged,” United for a Fair Economy (UFE), an independent research group that advocates for economic equality across race, gender and class lines, chronicled the disparities that continue to plague the banking industry.
Mike Leyba, the communications director at UFE and co-author of the report said that systemic economic exclusion, largely based on race, has existed for hundreds of years in the United States.
The free labor of kidnapped and enslaved Africans enabled White male land owners and the financial institutions that supported them to accumulate massive amounts of wealth over hundreds of years.
Following the Civil War, Jim Crow laws and “The Black Codes,” continued to deprive freed African slaves of economic opportunities for decades.
After World War II, the GI Bill provided White male veterans a pathway to college, professional careers and a boost into the middle class, a bridge that was closed to Black veterans who also fought and spilled blood overseas. Later, the Federal Housing Administration blocked Black families from moving into suburban neighborhoods, built with and partially funded by government subsidies.
“More than a quarter of all White families shifted from renting to owning in the twenty years following WWII,” stated the report. “Despite laws to the contrary, Black people were excluded from buying homes in White neighborhoods and were forced instead to live in urban ghettos.”
According to the UFE report, less than 1 percent of all mortgages from 1930 to 1960 were issued to Black people.
By 2013, the median wealth held by White families ($141,900), dwarfed the median wealth ($11,000) of Black families.
“As an estimated 80 percent of assets come from transfers from prior generations, the history of the financial situations of prior generations is a primary cause of the racial wealth gap,” stated the report.
Leyba said that economic exclusion, largely based on race still exists, but it’s much harder to pinpoint.
“It may not be legalized or sanctioned by the federal government,” said Leyba. “But it still exists.”
Economic exclusion continues to plague the banking sector, leaving 93 million Americans “unbanked” or “underbanked.”
“The unbanked are people that do not have any type of consumer checking account, and are outside the entire banking system,” the report explained. “The underbanked are people that have a checking account, but also rely on Alternate Financial Service Providers.”
According to the report more than 20 percent (20.5 percent) of Black households were unbanked in 2013, compared to 3.6 percent of White households.
Forty percent of Black households were full-banked compared to 75.4 percent of White households.
Alternate Financial Service Providers or AFSPs include payday loans, auto title loans, rent-to-own shops, subprime credit cards, high-interest rate installment loans, check cashing, prepaid reloadable debit cards, and money orders, the report said.
Researchers found that people shun traditional banks in favor of AFSPs for a number of reasons. Fifty-eight percent said that they didn’t have enough money to meet minimum balance requirements to keep an account open, while others (17 percent) said that past credit problems made it difficult for them to open new accounts.
In recent years, following the housing crisis banks, Chevy Chase Bank, Wells Fargo and Bank of America paid out multi-million dollar settlements in mortgage lending discrimination lawsuits involving Black and Latino borrowers.
But even if Black customers were able to meet the minimum requirements, had good credit and confidence in banks, the contraction and consolidation in the financial sector following the Great Recession have placed traditional banks out of reach for millions of Americans.
AFSPs moved in to fill that void.
“Payday lenders are nearly eight times as concentrated in neighborhoods with the largest shares of Blacks and Latinos compared to White neighborhoods, draining nearly $247 million in fees per year from these communities,” the report said. “Even after controlling for income and a variety of other factors, payday lenders are 2.4 times more concentrated in Black and Latino communities.”
As local bank branches fade away, Leyba said, community businesses dry up.
“What we’re seeing with more large corporate banks taking over those local branches, it makes it so that there is very little incentive for them to invest in that local area,” explained Leyba. Especially, when the large corporate banks can get a much higher yield from other financial products, he added.
UFE researchers suggested that the United States follow other industrialized nations such as France, Germany, Japan, China, Brazil, India, and New Zealand by offering more banking services through local post offices, which have a much larger foothold in urban and rural communities than banks.
The report said that nearly 40 percent of post offices are in zip codes “without a single bank,” and about 20 percent are in zip codes with just one bank.
“In addition to handling money orders, transfers, and debit cards, postal window clerks have experience cashing checks, processing refunds, renting post office boxes, preparing bank deposits, and maintaining business accounts,” the report said.
The report also recommended reforming the Community Reinvestment Act (CRA), modernizing payment technology to keep pace with the new realities of banking and adopting national standards to cap the interest rates on payday loans.
Leyba said that lending circles that provide small community-based loans, have also been successful in emerging markets.
“We know that not everyone will find their way into the banking system, as there is no way to make that happen either through policy solutions or innovations in products,” stated the report. “What policy makers and advocates can do, though, is look for ways to attract, retain and encourage people to begin to build assets, build a favorable credit history and ultimately begin down the path of wealth creation.”
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Black History
IN MEMORIAM: Marcia Ann Gillespie, Editor of Essence and Ms. Magazines, Dies at 82
Marcia Ann Gillespie, the trailblazing journalist who served as the first editor-in-chief of Essence magazine, has died at age 82. After joining the publication at its inception in 1970, Gillespie spent a decade elevating the beauty and voices of Black women during a pivotal era of self-love and cultural revolution. She later broke barriers as the first Black woman to lead Ms. magazine, further solidifying her status as a titan of the publishing industry. Her expansive career also included authorship and teaching, leaving a profound impact on American media. Read more.
Marcia Anna Gillespie, the first editor in chief of Essence magazine, has died. She was 82.
Born in Rockville Centre, New York, in 1944. The daughter of a church sexton/small business owner and domestic worker/caterer, Gillespie parlayed her degree in American studies from Illinois’s Lake Forest College into a research job at Time-Life Books, Inc. in New York.
There she advocated for fairness and inclusion of Black life in its publications. When the owners of the standard bearer of Black life, Ebony magazine, ventured into creating a special publication for young, Black women, Gillespie was hired as managing editor in 1970, and became editor-in-chief a year later at the young age of 26.
At the time, the venture by the Johnson family – the owners of Ebony magazine and Jet – into creating a publication for young Black women met the growing revolution of self-love in the Black community.
In other words, the battle cry of the late 1960s, “Black is Beautiful,” had a place to be seen and not just heard.
Thousands of young women who had already abandoned straightening combs and European aesthetics learned more ways to wear their natural hair from Afros to cornrows. Young Black designers got a place in the spotlight not just in clothing but jewelry that expressed neo-African ideals. But one of the most important impacts was the magazine’s unapologetic elevation of the beauty of the dark-skinned Black female to the status she deserved.
Under Gillepie’s tenure, Essence championed storytelling that celebrated Black women’s identities, experiences, and contributions at a time when their voices were often overlooked in mainstream media,” Essence wrote in a statement posted to Instagram
For 10 years she steered the fledgling publication before joining Ms. Magazine as a contributor in 1980 later becoming the first Black woman to edit a mainstream American magazine when she took charge in 1992.
In 1998, she helped secure the publication’s future through a women-led ownership group. She stayed at Ms. In various capacities until 2001, during which time the magazine had the most diverse readership in its history.
She also mentored future Essence editor Susan L. Taylor and taught young journalists at SUNY Old Westbury.
Emmy-winning actor Sheryl Lee Ralph took to social media to honor Gillespie’s life.
“Rest in peace, dear Marcia Gillespie,” she wrote on Threads. “Your voice, your brilliance, and your commitment to lifting up Black women leaves a legacy that will continue to inspire me and so many others.”
A professor at SUNY Old Westbury and Bennett College, she also co-authored the authorized biography “Maya Angelou: A Glorious Celebration” in 2008.
According to Wikipedia, she also served on various boards as a director or advisor, including: “…the Arthur Ashe Institute of Urban Health, the Black & Jewish Women of New York, the Violence Policy Center in Washington, D.C., Aspen Institute, …and the Studio Museum of Harlem. Gillespie is a member of the National Council of Negro Women and the American Association of Magazine Editors.”
She was the recipient of several awards, including: the Lake Forest College Outstanding Alumni Award (1973), the New York Women in Communications Matrix Award (1978); a Lifetime Achievement Award from the New York Association of Black Journalists for print journalism (1982); a ‘Top Ten Outstanding Women in Magazine Publishing’ recognition by the March of Dimes.
In later years she was inducted into the American Society of Magazine Editors’ Hall of Fame (2002); the NAACP President’s Award (2006) and the Barbara Graves Legacy Award at the Black Enterprise Women of Power Summit in 2017.
The conclusion for her online obituary reads: “She leaves behind a legacy written not just in the pages she edited, but in every editor, journalist, and reader who found themselves — finally — in the stories she chose to tell.”
Online sources for this report include “The History Makers,” The Washington Informer, Wikipedia, Essence magazine, Ms. Magazine and her obituary.
Business
Oakland Latino Chamber of Commerce Hosts Statewide Convention, Generating $3 Million in Economic Impact
The Oakland Latino Chamber of Commerce recently hosted the 47th Annual California Hispanic Chambers of Commerce Statewide Convention, drawing more than 1,000 attendees to the city. The event generated an estimated $3 million economic impact, benefiting local retailers, hotels, and small businesses throughout the region. Organized in partnership with Visit Oakland, the convention featured a marketplace for local entrepreneurs and focused on advancing economic prosperity for Latino-owned businesses. Several innovative features were introduced during the summit to provide lasting resources for the state’s business community, read more.
The Oakland Latino Chamber of Commerce (OLCC) recently served as the Host Chamber for the 47th Annual California Hispanic Chambers of Commerce (CHCC) Statewide Convention, held in Oakland in August 2026.
The Convention welcomed more than 1,000 attendees from throughout California and generated an estimated $3 million economic impact for the City of Oakland, providing significant support to local hotels, restaurants, transportation providers, retailers, and small businesses.
In conjunction with Visit Oakland, OLCC brought in various local sponsors and worked closely with the California Hispanic Chamber of Commerce, to make the Oakland Convention a success.
The success of the 47th Annual CHCC Statewide Convention demonstrates what is possible when business leaders, entrepreneurs, community organizations, and public partners work together with a shared vision, said Aliza Gallo, president of the OLCC.
“By welcoming more than 1,000 attendees and generating an estimated $3 million economic impact, we not only showcased Oakland as a premier destination for business and innovation but also created lasting opportunities for local businesses and entrepreneurs,” said Gallo, who also served as co-host of the event.
She adds that the “convention elevated Oakland’s visibility, strengthened statewide and local partnerships, and reinforced the Oakland Latino Chamber of Commerce’s commitment to advancing economic prosperity for our members and our community.”
As part of its leadership role, OLCC introduced two innovative features designed to extend the convention’s impact beyond the event itself. Conference workshops were recorded and made available for continued learning and professional development.
These recordings will be shared with OLCC members and made available for broader public access, expanding educational opportunities for businesses and entrepreneurs throughout California. The workshop content will also be distributed to the 85 Latino Chambers and Affiliate Members within the CHCC network, which collectively is 135 member organizations statewide.
In addition, OLCC created and managed the Oakland Mercadito, a vibrant marketplace showcasing local Latino and Latina entrepreneurs. The Mercadito provided small business owners with an opportunity to market their products and services, connect with new customers, and gain exposure to business and community leaders from across the state.
The initiative highlighted Oakland’s entrepreneurial talent and demonstrated OLCC’s commitment to supporting small business growth and economic opportunity.
“Oakland is one of the most diverse cities in the United States” commented Peter Gamez, president & CEO of Visit Oakland. “Our city’s celebration of culture makes everyone feel they belong here and allows for truly authentic experiences.
“Our diversity is a powerful draw for groups and individual visitors. We are extremely proud of this and continue to cultivate and grow this message as we welcome conferences and conventions to The Town,” Gamez said.
For more information, see the Visit Oakland video about the CHCC Convention In Oakland: https://lnkd.in/p/eRpe2sYD
The Oakland Latino Chamber of Commerce is the source of this story.
About The Oakland Latino Chamber of Commerce
Oakland Latino Chamber of Commerce (OLCC) www.oaklandlatinochamber.com is dedicated to advancing economic opportunity, strengthening business capacity, and elevating the visibility of Latino-owned businesses throughout Oakland and the East Bay. Through advocacy, partnerships, technical assistance, and community engagement, OLCC works to ensure that Latino entrepreneurs have the resources and support necessary to thrive.
Black History
Five Hospitals Said No! Who Will Help Annette Henry Recover?
Annette Henry, a 67-year-old Oakland woman, is struggling to access essential medical care after a devastating stroke left her with a rare neuropathic pain syndrome. Despite medical documentation confirming her need for inpatient rehabilitation, five different Bay Area hospitals have denied her admission, often citing her inability to meet rigid therapy thresholds. Her family’s efforts to seek intervention from state and federal lawmakers have yielded no results, leaving Henry at home without a clear path to recovery. To see how these systemic failures are impacting her health, read more.
A tangle of red tape and contradictions between health providers and Medicare rules have impeded an Oakland woman’s ability to recover from a stroke she had last year.
Her family – who are her caretakers – have reached out to various professionals and state and federal lawmakers for help to no avail.
At 67, Annette Henry needs inpatient stroke rehabilitation after a devastating stroke in May 2025. Since then, multiple Bay Area hospitals have denied it. She was accepted into a rehabilitation facility in June 2025 but discharged prematurely in July, in essentially the same condition.
Three hospitals where she was a patient pushed skilled nursing over inpatient rehabilitation. Two more declined referrals.
Now at home, Henry is caught in a system that measures her need for treatment against the limitations treatment should address.
Medical professionals have documented her need for a higher level of care.
In August 2025, a Medicare Quality Improvement Organization (QIO) overturned Henry’s discharge from an inpatient rehabilitation facility (IRF).
The QIO’s independent physician reviewer found she had not received the “intensive therapy program outlined on admission,” according to the Aug. 30, 2025, determination letter. Yet the decision did not secure her readmission or guarantee continued rehabilitation.
Henry has central post-stroke pain, a rare neuropathic pain syndrome that can make movement and touch intensely painful. Her pain specialist recommended inpatient rehabilitation alongside pain management.
Nevertheless, facilities have cited her inability to tolerate three hours of daily therapy as a reason to deny inpatient rehabilitation.
That practice raises questions about Medicare coverage policy. In Hooper v. Sullivan, No. H-80-99 (D. Conn. 1989), the court recorded the parties’ agreement that denials based on numerical utilization screens, diagnostic screens, treatment norms, the “three-hour rule,” or other “rules of thumb” were not appropriate.
CMS subsequently cited Hooper in its Aug. 7, 2009, final rule (74 Fed. Reg. 39762, 39794). The policy is also addressed in the Medicare Benefit Policy Manual, Chapter 1, Section 110, and CMS’s June 1 Review Choice Demonstration for IRF Services: Operational Guide.
These authorities underscore the need for individualized assessments rather than rigid numerical thresholds.
The central contradiction is stark: the pain and disability that make rehabilitation necessary have been cited as reasons to deny it. UCSF Stanyan’s April 7 discharge summary for Henry states that acute rehabilitation unit (ARU) placement was declined for “inability to tolerate three hours of therapy daily.” Without appropriate treatment, Henry risks further decline.
Her records document complications associated with prolonged immobility.
Orthopedics documented flexion contractures of the small and ring fingers on March 19.
Chest imaging on April 1 showed bibasilar dependent atelectasis, a condition involving reduced inflation of the lower portions of both lungs. These concerns can be examined through her medical records and photographs.
“What does a ‘not reasonable’ discharge look like?” her family asks. For them, it looks like an appeal decision recognizing a problem without ensuring a remedy: repeated referrals, denials and a patient still without the rehabilitation her treating professionals have recommended.
The family has sought help from the California Department of Public Health and the federal Office for Civil Rights to no avail. They contacted U.S. Rep. Lateefah Simon in June 2025, while Henry was in rehabilitation; Senator Alex Padilla in May 2026; and Senator Adam Schiff in September 2026.
DeCuir says the family received no meaningful assistance and was redirected to the QIO or advised working with a social worker after Henry had already been discharged.
The consequences extend beyond rehabilitation. The family reports that Henry has struggled to attend in-person specialist or any appointments and needs in-person evaluation and treatment for complications, recommended evaluations, health screenings and preventive care.
Her mobility limitations have become barriers to broader medical care. Every office tells her their office is not set up to accommodate her. This has happened with specialty care, out-patient services, screenings and physical therapy.
Henry is a Black woman on Medicare, and her family believes her experience raises concerns about unequal access to intensive rehabilitation. Research has documented disparities in discharge to inpatient rehabilitation rather than skilled nursing, underscoring the importance of individualized review.
CMS, state regulators and healthcare providers should examine Henry’s records, assess her needs on their clinical merits and explain how the applicable coverage standards were applied, and whether they are being enforced.
Rehabilitation is not a reward for patients who can already tolerate treatment. It is care intended to help people recover function. Henry’s case asks whether a system designed to support recovery can leave a patient without a path to it.
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