Mastercard pledges $500 million to promote financial inclusion in Black communities

Mastercard is committing $500 million toward a series of initiatives meant to increase financial inclusion among Black communities and close the racial wealth and opportunity gap in the U.S., the digital payments giant announced today.

Mastercard’s investment, to be made over a five-year period, will be spread across an array of programs designed to help financially underserved Black communities more easily access financial products, services, and support. 

Among its efforts, the company will work with seven cities across the country (Atlanta, Birmingham, Dayton, Los Angeles, New Orleans, New York, and St. Louis) to help them more easily distribute financial aid and resources to Black communities. Mastercard will also look to make digital financial products more affordable and accessible to underbanked Black customers, and will team with community development financial institutions (CDFIs) to increase capital flow to Black business owners.

The commitment sees the company respond to a social climate that—in … Read More

Lukashenko should not be recognized as Belarus president after November, EU lawmakers say By Reuters

© Reuters. Belarusian President Alexander Lukashenko attends an interview with journalists of Russian media in Minsk

BRUSSELS (Reuters) – Belarusian leader Alexander Lukashenko should no longer be recognized as president from November when his term expires, the European Parliament said on Thursday, calling for European Union economic sanctions to be imposed on him.

In an overwhelming show of support for pro-democracy protesters in Belarus, the EU assembly voted 574 to 37, with 82 abstentions, to reject the official results of an Aug. 9 presidential election that the West says was rigged.

“The EU needs a new approach toward Belarus, which includes the termination of any cooperation with Lukashenko’s regime,” said Petras Austrevicius, a Lithuanian centrist EU lawmaker heading parliament’s efforts to pressure Belarus’ top officials.

While the European Parliament’s vote is not legally binding, it carries political weight and can influence how the EU invests in Belarus or grants financial

Read More