Posts Tagged ‘churches’

African American churches protest foreclosures by black-run bank

Monday, November 5th, 2012

(Los Angeles Times) A coalition of African American ministers is protesting foreclosures on their churches — byBroadway Federal Bank, a savings bank established in the 1940s to serve Los Angeles' then-segregated black community.

About one-quarter of the money Broadway Federal has lent out has been for mortgages on church properties. In the tough economy, it's become a problematic business for the bank, which regulators have categorized as troubled since 2010.

The bank's annual report for 2011 with the Securities and Exchange Commission said regulators have barred it from making additional church loans. Broadway Federal, which continues to be run by African Americans, said its problems "raise substantial doubt about the company's ability to continue as a going concern."

Full story…

Occupy Movement, African-American Leaders Form Coalition

Saturday, December 17th, 2011

(Voice of America) The Occupy Wall Street movement is gaining allies. Our reporter tells us who they are and what they plan to do.

Protesters of the Occupy movement are spreading their wings – joining forces with veterans of the American civil rights movement of the 1960s, and African-American churches.

In Washington, civil rights icon Benjamin Chavis announced the formation of Occupy The Dream.

David Degraw is with Occupy Wall Street in New York.

“This is a very diverse movement as it stands right now," said Degraw. "But obviously we need to do more work to get into the African-American communities and to get into all different ethnic backgrounds, the Latino community as well.”

The African American leaders were drawn in by the issue of income inequality.  More than 15 percent of black Americans are unemployed, compared with an overall jobless rate of 8.6 percent.

Full story…

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