Target Continues to Pay the Price for Breaking Promise to Black America
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Category: Business
Black Homeownership Faces Persistent Barriers Despite Hard-Fought Gains
onia Reed believed she had achieved the American dream. In December 2024, the Black grandmother and former homeless individual became a homeowner in San Leandro, California. But her triumph quickly turned into a nightmare when neighbors began harassing her with racial slurs and vandalizing her property. “I worked so hard to finally have a place to call my own, and now I have to fear for my safety in my own home,” Reed said. The Alameda County Sheriff’s Office said it is investigating the incidents as hate crimes. For many, vandalism is part of an ongoing pattern where Black homeowners have faced some kind of discrimination.
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Target Takes a Hit: $12.4 Billion Wiped Out
Target Corporation’s stock plummeted by approximately $27.27 per share by the end of February, erasing about $12.4 billion in market value. The drop came on February 28, the designated economic blackout day, and coincided with mounting backlash over the retailer’s decision to abandon its diversity, equity, and inclusion (DEI) commitments.
The National Newspaper Publishers Association (NNPA) has taken action through its Public Education and Selective Buying Campaign. NNPA President and CEO Dr. Benjamin F. Chavis Jr. said, “Black consumers helped build Target into a retail giant, and now they are making their voices heard. If corporations believe they can roll back diversity commitments without consequence, they are mistaken.”
NAACP, Black Press of America Call for Economic Action as Corporations Retreat from Diversity Commitments
The NAACP is urging Black Americans to direct their economic power toward companies that have maintained their commitments to diversity, equity, and inclusion as corporate America faces mounting conservative pressure. The civil rights organization has released a spending guide identifying businesses that have upheld or reversed their DEI promises, stressing the importance of economic leverage in fighting racial equity.
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Merit Vs DEI
“He [President Trump] is sanctioning…employment discrimination,” says Marc Morial the President and CEO of the National Urban League. Morial said he has talked to McDonald’s executives who recently dropped their DEI efforts as well as Walmart and he stepped off an unofficial board of Facebook as they moved to end DEI without consulting with that board. Morial made these statements on the Black Press USA show Make it Plain. Make it Plain He spoke on the cancellation of diversity equity and inclusion through a new executive order signed in the first days of this new Trump administration.
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Ranking Member Maxine Waters Introduces Legislation to Modernize Deposit Insurance to Support Community Banks, Credit Unions, Small Businesses, and Workers
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Professor Tonya M. Evans on Cryptocurrency, Black Wealth, and the High Stakes of Trump’s Agenda 47 and Project 2025
In a recent appearance on Let It Be Known News, Professor Tonya M. Evans—an expert in fintech law at Penn State Dickinson Law and a prominent figure in digital asset strategy—discussed the evolving landscape of cryptocurrency, particularly its impact on Black America. As an advisor on fintech policy through her company Advantage Evans, LLC, and a board member of Digital Currency Group, Evans is deeply invested in guiding Black investors through the complex world of cryptocurrency.
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Ranking Member Waters Urges Speaker Johnson and Leader Jeffries to Include National Flood Insurance Program Debt Forgiveness in Disaster Supplemental
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Sacramento Kings and Black-Owned Digital License Plate Firm Enter History-Making Partnership
Reviver, the world’s first digital license plate and connected vehicle platform, has entered into a history-making jersey patch partnership with the Sacramento Kings, team officials announced right before the team’s season opener on Oct. 24.
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Congresswoman Maxine Waters, U.S. Treasury Announce $10 Million Award to Support California Small Businesses
Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee and the U.S. Department of the Treasury (Treasury) announced that the California Office of the Small Business Advocate (CalOSBA) is being awarded $10 million to support small business growth through the State Small Business Credit Initiative (SSBCI), a $10 billion program Congresswoman Waters secured as part of the American Rescue Plan Act in 2021. These funds will be used to support very small businesses and minority-owned businesses across California access billions of dollars in new loans and investments, which is supported by $1.2 billion in Federal funds allocated to the state under the SSBCI.
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Government Excludes and Discriminates Against Black-Owned Media Despite Federal Advertising Spending Reaching $15 Billion
A new report released this month has revealed that the federal government spent $14.9 billion on advertising contracts over the last ten fiscal years to inform the public about various programs and services. However, despite the government’s mandate to provide contract opportunities to businesses owned by minorities, women, and other socially or economically disadvantaged groups, significant disparities persist.
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A Win for Black Entrepreneurship: Is the New FTC Ban Good for Black Businesses?
In what has since created shockwaves across the nation, the Federal Trade Commission (FTC) voted 3-2 for banning noncompete agreements, which goes into effect 120 days after the rule is officially published in the Federal Register. This decision will undoubtedly have significant impact on both employers and employees alike, but what about black entrepreneurs?
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