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NEWMAYOR YORK TREND DAVID DINKINS, REP. CHARLES RANGEL, Serving New York City, Nassau & Suffolk Counties
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THE ALTERNATIVE VOLUMEPERSPECTIVE 26 ISSUE 40
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December 17, 2015 - December 23, 2015
VOLUME 31 ISSUE 9
Since 1989
April 22nd, 2021 - April 28th, 2021
C E L E B R AT I N G W E L L S F AWITH R G O LIFETIME I n v e s t s ACHIEVEMENT AWARDS HONORED 30 F I V E A D D I T I O N A L B L A C K- O W N E D B A N K S in
The Black Stars News 2015 Annual Awards Dinner will honor Mayor WELLS FARGO COMPANY (NYSE: disproportionately impact communities of David& Dinkins, Rep. WFC) Charles today announced equity investments in color,” said Cynthia N. Day, President and Rangel, Rep. Yvette Clarke, five African American Minority Depository CEO of Citizens Trust Bank. R. Donahue Barbara Institutions, or MDIs, asPeebles, part of its March Wells Fargo’s financial commitments are in Arnwine, Inez 10, 2020, pledge to invest Barron, up to $50 Sabrina the form of critical equity capital, which is Lamb, Dr. Rudy Crew, million in Black-owned banks. As partStephen of foundational to the MDIs’ ability to expand the equity capital investment, Wellsthe Fargo Byrd, Alia Jones, and Centrallending and deposit-taking capacity in their is also offering access to a dedicated Park Five survivors of gross injustice communities. The investments, primarily relationship team that can work with each non-voting positions, are designed to on December 18 from 6:00pm – MDI on financial, technological, and product enable the banks to maintain their MDI 10:00pm at MIST 46 West development strategies to helpHarlem, each status. Wells Fargo is also supporting 116th Street. institution strengthen and grow. each MDI’s development through a
(3) and a certified Community Development Financial Institution that is dedicated to strengthening communities, building assets, and improving lives in the Delta and other economically distressed areas of the Deep South. HOPE plans to use the funds as secondary capital for its credit union, providing financial services to underserved markets and people in the Deep South. Based in Jackson, Mississippi, HOPE serves Alabama, Arkansas, Louisiana, Mississippi, and Tennessee On March 25, 2021, Wells Fargo was one of several U.S. banks and payment technology companies named as investors in Greenwood, the digital banking platform
YEARS!
York and a former chancellor of the New York public schools system.
Pioneering producers Stephen Byrd and Alia Jones, through their Fund donates all gross processing fees we company Front Row Production, received from the Paycheck Protection “Cat on a Hot$420 Tin Roof” Programbrought in 2020 — approximately “A Streetcar million —and to nonprofits helpingNamed small Desire” businesses the pandemic, withnavigate a multi-ethnic castwith to an emphasis on small businesses Broadway. In 2016owned theybybring Black, African American, and other small “Eclipsed” with Oscar Winner business owners of color. Lupita Nyong to Broadway. The Wells Fargo Diverse’O Community
Capital program is a the $175so-called million program Honorees, Central with Community Development Financial Park 5, are collectively and Institutions, or CDFIs, to provide capital individually heroes. Theysmall are and technical assistance for diverse survivors of one of the ugliest business owners in the U.S. Approximately Charles Rangel 75% of awardees are led leaders miscarriage of by justice in from New York’s underrepresented communities. DCC history; having been The railroaded majority. She now leads The program has enabled CDFIs to lend nearly and unjustly convicted for a crime Transformative Justice Coalition. $350 million to Black and African American they did not for which Arnwine was for 26 years executive small business owners commit across theand country they served long prison since the program launched in 2015,sentences director of the Lawyers’ Committee to Opportunity Financeyears Network. ranging from seven to 13 years for Civil Rights Under the Law. according T. Clarke. In the current 114th WELLS FARGO HAS INVESTED IN 11 work Allimadi. “Obviously much In the 10 years spanning 2009 to 2018, before being exonerated when the Congress Clarke serves on MINORITY INSTITUTIONS Inez Barron, honoree, formerly aWells Fargo was the No. 1 financier of home needsDEPOSITORY to be done here and actual rapist confessed. They are: the Energy and Commerce IN 2021 AS PART A $50 MILLION State Assembly member, is nowloans to African Americans and originated around theOF world.” Yusef Abdus Salaam; Raymond PLEDGE AND A COMMITMENT TO Committee, responsible for a New York City council membermore mortgages to help Black home buyers FOSTER IN with a The ECONOMIC gala startsGROWTH at 6:00pm Santana Jr.,the Antron McCray, purchase homes than four other largest Kevin consumer protection, food and a champion of education for bank lenders BLACK AND AFRICAN combined. cocktail hour to AMERICAN be followed by the Richardson, and Kharey Wise. safety, energy development, public our youth. COMMUNITIES. In 2017, the company pledged to create dinner and awards ceremonies. There health, communications, the The Black Star News, which focuses This announcement includes investments inby Honoree Imhotep Gary Byrd is 250,000 Black homeowners by 2027 will be musical entertainment environment, and interstate and investigative journalism, has the following institutions: throughon lending $60 billion for home a legendary radio talk show host purchases, opera singer Cassandra Douglas international commerce. increasing the as diversity of the Carver State Bank in Savannah, Georgia been featured a result of some if and executive producer, radio DJ,sales team, and supporting homebuyer andTrust fromBank in harmonica Citizens Atlanta,phenomenon Georgia its news scoops, on CNN, The New R. Donahue Peebles, honoree, is Fargo) poet,Wells songwriter, music recordingeducation and counseling. In the first three Galison. David Dinkins is Cynthia N. Day, President & CEO of Citizens Trust Bank (Photo: FirstWilliam Independence Bank in Detroit, York Daily News, The New York a leading developer and founder of Michigan artist and producer, rapper, writeryears of the commitment, 60,527 African honored for Lifetime Achievement Post, The Village Voice, and Brill’s The Peebles Co., the nation’s largest and community activist. He beganAmerican homeowners have been created Liberty Orleans, — Bank in he wasNew New YorkLouisiana City’s first Content magazine. markets, expanding locations, designing new for Black and Latino individuals and with $15.2 billion in financing. Unity National Bank in Houston, Texas African American-owned real hisowners, careerasas a of radio DJ in Buffalo Wells Fargo is donating $5.4 million in African American mayor and alsoproducts, and hiring staff to support loan part Greenwood’s These investments follow Wells Fargo’s estate firm with $3.5 billion worthbusiness Black Star News honorees at age 15. For over 30 years, he’s grants toPast welcomed Nelson Mandela to the growth. $40 million of Series A funding. Greenwood 15 legal assistance organizations Feb. 8, 2021, announcement regarding its of properties under development is partnering have included: Gil Noble (Like It beenwith a talk show host at toWBLS and FDIC-insured banks across the U.S. that work to keep people city after his release in 1990. investments in six African American MDIs Externalor partners that assisted Wells Fargo management — he was one give customers the ability to spend and and families housed through services Is), Rep. Maxine Waters, Soledad WLIB radio in New York City. He and takes the Charles Company’sRangel, total investment include the National Bankers Association Rep. also honored of the pioneering developerswho save securely and a willFriday featurenight best-in-class efforts. ThisMs. first-of-its-kind O’Brien (CNN), Camille Cosby, to 11 MDIs to date. In addition, Wells Fargo also has radio talk and advocacy and Sullivan & Cromwell. External advisory for Lifetime Achievement, services, innovative ways to effort seeks toRivers enable (New these nonprofit helped turnare around revitalize online banking will be making its nationwide ATM networkhas committee members Kim D.and Saunders, Voza Heritage Theatre), on WBAI. supportshow minority-owned banks, and giveorganizations to provide free or low-cost legal served in Congress since 1971. is available for customers of these 11 MDIs to He President theand once-blighted Anacostia CEO of NBA; Aron Betru, Errol Louis (NY1 News), Amel back programs focused on Black and Latino Honoree Sabrina Lamb, founderrepresentation to people at risk of eviction. a recipient The Bronze medal for use without incurringof fees. Managing Director of the in Center for neighborhood Washington, D.C. Larrieux (Entertainer), Dr. William causes and businesses. These organizations have track records of at Milken Institute; and of World of Money, is a champion save soldiers behind enemyFinancial "Guidedhelping by our founding principles to A Markets champion of African-American Wells Fargo was one of the first banks serving, on average, more than 60% people Pollard (Medgar Evers College), John W. Rogers Jr., Chairman, Co-CEO, and of financial literacy for youth-during the Korean War. promoteline financial stability and equality economic empowerment Peebles’ to is sign the Office of the Comptroller of the sheof color.Herm Edwards (NY Jets), Nayaba CIO of Ariel Investments. for all communities, Citizens Trust Bank teaches knowledge about handling Currency’s Project REACH MDI Pledge, contemplating a possible run for NYC Yvette is a inDemocratic Wells Fargo Community LendingNews), and Arinde (Amsterdam La-Verna is proudRep. to partner with Clarke Wells Fargo Wells Fargo’s financial commitment which encourages banks to develop money, budgeting and planning. mayor in 2017. Investment (CLI) specializes in offering debt member of the US House of Fountain (Columbia University), expanding these efforts. The partnership announced today complements additional meaningful partnerships with MDIs to help capital to organizations Dr. Rudy Crew, honoree, is one ofand equity enhances our ability to deployfrom more New capital Representatives initiatives that aim to serve all of our Lillian Roberts (DC37), that Desiree Dancy Honoree Barbara Arnwine, civil them remain a vibrant part of the economic provide economic development, job creation, th in our markets and beyond. We appreciate customers and communities: the nation’s leading educators. He’s York whose 9 district covers landscape and better promote fair, equal, (New York Times), Greg Floyd (Local rights lawyer, is a champion of and affordable housing in communities Wells Fargo for its commitment and alliance 30, 2021, Wells Fargo closed and full access to financial products and much of central Brooklyn. Before On March 237), Rev. Al Sharpton (National president of Medgar Evers College voting ethnic of need nationwide. It is primarily focused in providing solutions to the very important on a $5protecting million patient capitalrights loan toofHope services in their communities. entering Congress in 2007, on economic redevelopment Action Network), and andhousing many others. of The City University of New minority groups — the emerging The company’s Open challenge of addressing inequalities that she Enterprise Corporation (HOPE), a 501(c) for Business “The country’s MDIs are vital to minority banking relationship in the form of a single “Eachbut honoree communities, over thechosen last two for decades, touchpoint coverage model that will help recognition demonstrated many have declined orhas have closed. The them access Wells Fargo’s expertise and capital investment weleadership are announcing exceptional andisvision inpursue strategic priorities like entering new David Dinkins important, relationship approach or herbut or it’s hisour respective profession that willendeavor make the difference in their futures. and in some significant We want to be a partner to these important was a member of the New York measure has towards institutions and, in turn,contributed have a positive City Council, representing the creating a more just society in this effect on local communities,” said William 40th council district in Brooklyn, Daley, Vice Chairman of Public at country,” says BlackAffairs Star News succeeding her mother, Una S. Wells Fargo. founder and publisher Milton
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