Wednesday, August 24, 2011
Black-owned banks are struggling to remain relevant
Black-owned banks are struggling to remain relevant and during difficult economic times, according to a report by HuffingtonPost.com
The number of black-owned banks across the nation is shrinking– almost half of the banks closed in the past two decades.
HuffingtonPost.com reports:
Their traditional customer base — lower and middle class blacks, small business owners and churches — has been disproportionately affected by high unemployment, leaving customers with less money to deposit and, in turn, leaving many of these smaller financial institutions with less capital to reinvest in their communities. As customers have fallen on hard times or fallen behind in their loan repayments or mortgages, home foreclosures have become a nagging issue, hamstringing banks’ portfolios with toxic loans
5.8 Earthquake Rocks Virginia, D.C; Shaking Felt In NYC
5.8 Earthquake Rocks Virginia, D.C; Shaking Felt In NYC
An earthquake hit Virginia and Washington D.C. at a magnitude of 5.9 earlier this afternoon around 2 p.m.. Residents in New York City said they felt several tremors earlier this afternoon.
There were no immediate reports of damage.
It is not clear how far the earthquake spread, but tremors were felt throughout New York City office buildings and as far north as Concord, N.H.
The movement lasted no more than 30 seconds in downtown Washington.
An earthquake hit Virginia and Washington D.C. at a magnitude of 5.9 earlier this afternoon around 2 p.m.. Residents in New York City said they felt several tremors earlier this afternoon.
There were no immediate reports of damage.
It is not clear how far the earthquake spread, but tremors were felt throughout New York City office buildings and as far north as Concord, N.H.
The movement lasted no more than 30 seconds in downtown Washington.
Saturday, August 20, 2011
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