The racial wealth gap in the United States is a wide and persistent gap between the median household income of different races – most greatly visible between Black and white households. The country’s history of systemic racism has weakened Black Americans’ ability to achieve economic security. With financial services systems and policies built to keep communities of color out, four Aspen Global Leadership Network Fellows are stepping up to find a way in. The key? Revitalizing Black-owned banks.

By bringing together their diverse expertise from across the legal, nonprofit, financial, and government sectors, Fellows Ashley Bell (Civil Society Fellow: a Partnership of ADL and the Aspen Institute), Yolanda Daniel (Finance Leaders Fellow), Lauren McCann (Civil Society Fellow), and Tishaura Jones (Rodel Fellow) collaborated to launch the National Black Bank Fund and Foundation (NBBF). At the center of their impact is their relationships: to one another and to other bold leaders who are literally putting their money where their mouths are when it comes to commitments made to center diversity and equity in business operations. The group was recently awarded by the Mastercard Center for Inclusive Growth and the Aspen Institute with an inaugural Global Inclusive Growth Spark Grant for their innovative work. 

Listen to this episode of the Value of Leadership podcast to learn why nurturing Black-owned financial institutions is so closely aligned to the success of Black communities, how NBBF shepherded a $30 million deal with the NBA’s Atlanta Hawks, and what it takes to step into the arena and join the fight for racial justice in America. Learn more about the work of the National Black Bank Fund and Foundation at blackbankfund.com.