You are now being logged in using your Facebook credentials
Allstate Gospel Superfest Battle of the Bands New Talent Search to Return in August!

Allstate Gospel Superfest Battle of the Bands New Talent Search to Return in August!

Producers of the Allstate Gospel Superfest

The Allstate Gospel Superfest Battle of the Bands New Talent Search to Return in August!- Jacksonville, Memphis & Washington, DC Chosen to Host the 2014 Competitions -(BLACK PR WIRE) – Cincinnati, OH – Producers of the Allstate Gospel Superfest will conduct its sixth annual new talent initiative in three major U.S. cities this coming…

Read More...
Dorothy Buckhanan Wilson Installed as International President of Alpha Kappa Alpha Sorority, Incorporated

Dorothy Buckhanan Wilson Installed as International President of Alpha Kappa Alpha Sorority, Incorporated

Charlotte, NC (BlackPR.com)

Dorothy Buckhanan Wilson of Milwaukee, Wisconsin, a business executive, was installed as the 2014-2018 International President of Alpha Kappa Alpha Sorority, Incorporated (AKA)

Read More...
Nielsen Expands Communications Leadership Team with Key Media Relations Hire

Nielsen Expands Communications Leadership Team with Key Media Relations Hire

New York (BlackPR.com)

New York (BlackPR.com) -- Nielsen today announced that Andrew McCaskill has joined Nielsen as Senior Vice President, Corporate Communications. He will report to Chief Communications Officer Laura Nelson.

Read More...
Voter Suppression: It’s Mobilization Time

Voter Suppression: It’s Mobilization Time

Written by Peter Grear

With this article we will start detailing the ingredients of a revisable action plan that needs comments and revisions as we move toward the Tuesday, November 4, 2014 General Election.  

Read More...
Las Vegas Comedian James Bean's Candid Account Of His Struggle With Suicide

Las Vegas Comedian James Bean's Candid Account Of His Struggle With Suicide

WHEN THE HUMOR IS GONE

James Bean has shown insight and understanding of the darkest moments of many people’s lives as well as ideas on how one could begin to create a life worth living even out of the depths of despair.” -– Rhonda Duncombe, LMFT, LADC

Read More...
Voter Suppression: NC Black Republican Advisory Board

Voter Suppression: NC Black Republican Advisory Board

Written by Peter Grear

Educate, Organize and Mobilize: I confess that I’m amazed. The Republican National Committee and the Republican Party of North Carolina announced last week that they have launched theNorth Carolina Black Advisory Board (BRAB) 

Read More...
Tips for Managing Stress in Your Life

Tips for Managing Stress in Your Life

Written by State Point

Stress is not only unpleasant; it can be overwhelming, ultimately preventing you from solving the problems that caused the stress in the first place. But getting focused can help you feel happier and be more successful professionally, financially and in your relationships, say experts.

Read More...
Voter Suppression: Defeating it requires two massive efforts

Voter Suppression: Defeating it requires two massive efforts

Written by Peter Grear

For black voters, Benjamin Jealous expressed what I believe to be the critical message for black voters when he said that the best way to overcome massive voter suppression is through a massive wave of voter registration.  Thankfully, the NAACP is putting this theory into action through the Youth Organizing…

Read More...
Black Women are Taking Care of Business

Black Women are Taking Care of Business

Written by Freddie Allen

Instead of breaking the glass ceiling, Black women have increasingly started making their own. According to the Center for American Progress, an independent, nonpartisan progressive institute, Black women are the fastest-growing group of entrepreneurs in the country.

Read More...
Voter Suppression: Is it partisan?

Voter Suppression: Is it partisan?

Written by Peter Grear

Educate, Organize and Mobilize: I’ve been doing commentaries on our Campaign to Defeat Voter Suppression since November, 2013.  Because the right to vote is fundamental to our democracy, I’ve tried to promote a non-partisan theory of voter enfranchisement. 

Read More...
Why vote? ALEC and the Doctrine of Exclusion

Why vote? ALEC and the Doctrine of Exclusion

By Peter Grear

Educate, Organize and Mobilize: Frequently, in going forward it is imperative to examine your history.  In 1638 the Maryland Colony issued a public edict encouraging the separation of the races that became the public policy of America. 

Read More...
Download Greater Diversity News Digital PDF Edition for FREE

Download Greater Diversity News Digital PDF Edition for FREE

FREE Full PDF Edition includes stories not featured on the website

The FREE Full PDF Edition includes stories not featured on the website. No paper, no hasel, read on your laptop or mobile devices. 

Read More...
Frontpage Slideshow | Copyright © 2006-2011 JoomlaWorks Ltd.

Home Page

Wall Street Bill Passes House, Heads for Senate With Significant Black Inclusion

Written by Pharoh Martin on 09 July 2010.

Dodd-Frank Wall Street Reform and Consumer Protection ActWASHINGTON (NNPA) - Last week, the House of Representatives passed a Wall Street reform bill that advocates are calling the most comprehensive financial reform since the New Deal was signed into law by Franklin Roosevelt 70 years ago. 

The Dodd-Frank Wall Street Reform and Consumer Protection Act, which comes on the heels of one of the worst economic fall outs in U.S. history, will put in place the strongest consumer financial protections ever by curbing abuses by banks, mortgage and credit card companies and keeping their consumers better informed by making the financial industry more transparent, according to President Obama.

“Today’s House vote in favor of Wall Street Reform puts us on the cusp of passing a law that will give consumers greater protection and safeguard our economy against future financial crises,” Obama said in a statement shortly after the vote was passed on June 30th. “It has been a long fight against the defenders of the status quo on Wall Street, but today’s vote is a victory for every American who has been affected by the recklessness and irresponsibility that led to the loss of millions of jobs and trillions in wealth.”

The bill must still go to the Senate for approval before the president can sign it into law. The anchor of the bill is the creation of new independent watchdog agency called the Consumer Financial Protection Bureau. It will have the power to regulate the activities of banks, credit card companies, payday lenders and other financial services institutions.

It is designed to act as the same manner as the FDA already does for medical safety and set consumer protective standards against such financial practices as hidden credit card fees and deceptive fine print.

The new bureau would be entirely dedicated to protecting consumers from the unscrupulous lenders that helped bring down the economy, said Rep. Maxine Waters (D-Calif.), a member of the Congressional Black Caucus who chairs the House Subcommittee on Housing and Community Opportunity and also serves on the House Financial Services Committee.

“We are not only creating new opportunities for minorities and opening doors that had been closed but we were basically in the leadership of support of the Consumer Financial Protection Bureau that is going to help all consumers with all of these issues that we are confronting,“ she said in an interview with NNPA.

The congresswoman was responsible for many key provisions that were included in the bill that address specific economic problems in the Black community.

Those provisions include:

-The creation of the Office of Minority and Women Inclusion;

- Additional assistance for homeowners;

- More funding for the Neighborhood Stabilization Program, which helps homeowners who are at risk of foreclosure and provides low interest loans to unemployed homeowners who are having a difficult time keeping up with their mortgage payments. Under the legislation, the program will receive an additional $1 billion in funding and an additional $2 billion in funding from the Treasury Department;

- Safeguards that ensure fair access, treatment and regulations for minorities, women and low-income workers, including ensuring diversity in hiring and job promotions at federal financial regulatory agencies and in their contracting with the creation of the Office of Minority and Women Inclusion.

“Getting the Office of Minority and Women Inclusion into law is the biggest thing that has happened in many years in terms of legislative efforts to improve the plight of minorities in this country,” said Waters, who created the agency. “It’s huge.”

Waters said that because banks and financial institutions disparately targeted the Black community for the exploitative sub-prime loans that helped bring down the economy two years ago Black lawmakers were keen on supporting the bank reform legislation and its specific protections for minorities and low-income consumers.

Black members in the House were instrumental in getting the bill passed. But now the bill comes to the Senate chamber, which has one African-American member and is bitterly divided along party lines. Waters still feels that the Senate will be successful in pushing the bill through.

“For the first time, the conference committee that resolves the differences between the two houses had significant minority representation on that committee,” Waters said. “And because of that, we were able to educate the senators who sat in the conference committee on the importance of what we were doing.” •

GDN Link Exchange