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Showing posts with the label Black Lives Matter

New Bill Could Help Black Banks Raise Capital, Cut Costs, and Attract Black Investors

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Article by Jeff McKinney in Black Enterprise describes HR 41, "the Rescue Act for Black and Community Banks. The bill–initiated in January 2019–aims to, along with other measures, bring regulatory relief for black banks from Congress, boost wealth-building for black consumers and businesses, and help save black banks from failing."

See: https://www.blackenterprise.com/new-bill-black-banks-black-investors/

Bill to Support Black and Community Banks

New federal banking legislation,"H.R.41 - RESCUE Act for Black and Community Banks" was introduced by Congressman Bobby Rush (D-Il) on January 3, 2019.

We worked, along with the Financial Services Innovation Coalition (FSIC), to draft this new legislation, which contains many of the ideas we have been working on for some time. Recently, FSIC sponsored a letter of support. To add your name, please see: https://lnkd.in/ejv9Ef6
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The bill is designed to take a focused approach to saving and expanding the number of Black-owned banks operating in the US. This legislation is designed to meet the needs of the Black community, not just serve bankers. Our contributions were part of a collaborative effort in the overall national interest.

The bill, which has just started the legislative approval process, contains the following provisions:

The Next COINTELPRO: Black Lives Matter as a violent threat

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According to an official assessment obtained by Foreign Policy Magazine, the US government has declared “black identity extremists” like the "Black Lives Matter" movement a violent threat to the country. This assessment was made by the FBI’s counter-terrorism division.

The finding, which carries with it the authority of a major counterterrorism arm of the United States, authorizes agencies of the Federal Government to use extraordinary means to protect the country from this erroneously declared threat. This might include spying on, rounding up, or forcibly detaining BLM activists and their supporters.

History has shown what this means. COINTELPRO, "a series of covert, and often illegal, projects, starting in 1956 and conducted by the United States Federal Bureau of Investigation (FBI), aimed at surveilling, infiltrating, discrediting, and disrupting American political organizations."

FBI records show that COINTELPRO resources targeted groups and individuals that t…

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