Many financial policies aim to rectify injustices that have largely targeted Black people, such as redlining or loan discrimination. Without Black financial regulators, that means Black Americans aren’t a part of that policymaking.
Of the 327 financial regulators that have been appointed at U.S. federal agencies throughout history, only 10 have been Black. That’s a mere 3%, for a demographic that reflects 13% of the country’s population. Financial regulators are the leaders of national financial agencies, such as the Federal Reserve and the Federal Trade Commission, which act as stewards of banks, corporations, and financial markets. These agencies have the purported goal of ensuring fairness for economic participants. But Black people have been largely absent from those policy-making decisions.
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