Madeline Lyles and Dana Taylor are staking their claim as the founders of the first mortuary service owned and operated by women in Memphis. (Courtesy photo)
Business

Founders of After Life Mortuary Services Breaking New Ground

NNPA NEWSWIRE — “After Life Mortuary Services believes that it’s time out for financial stress and struggles for families during their time of bereavement,” said Madeline Lyles. “It’s time out for fish fries, GoFundMe accounts and the embarrassing fundraisers that families have to do, in order to have the finances to bury a loved one.” […read more]

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A relatively small component of the federal Tax Cuts and Jobs Act, passed in December of 2017, was the creation of Opportunity Zones in every state in the U.S., as well as in the District of Columbia and five U.S. territories. (Photo: iStockphoto / NNPA)
Business

The “Tax Cuts and Jobs Act” Creates Opportunity Zones to Spur Economic Development

NNPA NEWSWIRE — Opportunity Zones have the potential to address many of the country’s most vexing economic problems, notes Tami Bonnell, CEO of EXIT Realty International. “One in six Americans lives in an economically distressed community,” said Bonnell. “There is something wrong with the way we’re operating when we have that much poverty in the United States.” […read more]

A new and independent research report entitled, Driving Into Debt, found that the money now owed on cars is up 75 percent since the end of 2009, an all-time record. (Photo: iStockphoto / NNPA)
Business

Auto loan delinquencies climbed to $9 billion in 2018

NNPA NEWSWIRE — … in April of last year, Congress used the Congressional Review Act to nullify the Consumer Financial Protection Bureau’s (CFPB) auto finance guidance that held auto lenders responsible for discriminatory lending practices prohibited under the Equal Credit Protection Act. This distorted use of the Congressional Review Act, sometimes known as another CRA, was never intended to overturn long-standing agency practices. […read more]

FedEx Logistics is relocating to the Gibson Guitar Building, Gov. Bill Lee and local officials announced Tuesday at the former guitar factory off Beale Street.
#NNPA BlackPress

FedEx Powering Up Its Downtown Presence

NNPA NEWSWIRE — “FedEx Logistics will receive a PILOT from the city and county,” said Memphis Mayor Jim Strickland. “To meet the requirements, there is a required level of participation to include women and minority contractors, or they will not qualify. So, it is assured that there will definitely be minority contract participation.” […read more]

Business

OP-ED: Upholding Our Values and Standing Against Discrimination

NNPA NEWSWIRE — “I’m outraged that anyone at Toledo Transmission – or any facility – would ever face threats or discrimination. My heart goes out to anyone who was touched by this bigotry. This is not who we are. I and the entire leadership team at GM, condemn – in the strongest possible terms – any type of intimidating or intolerant behavior…” — Gerald Johnson, General Motors North America Vice President of Manufacturing & Labor […read more]

Over the next two to three years, according to Richardson, The HistoryMakers will focus on adding 150 additional interviews of noted African American business leaders to its collection – increasing its BusinessMakers category to 500. (Image of Ken Chenault, Black Enterprise / YouTube)
Business

PRESS ROOM: The HistoryMakers Kicks Off Black History Month on PBS with a One-On-One Interview Program: An Evening with Ken Chenault as part of its Groundbreaking Business Initiative

NNPA NEWSWIRE — “We’re excited to have produced the ‘must see’ program,” says Julieanna Richardson, Founder and President, The HistoryMakers. Having the opportunity to showcase the life and career of the most preeminent business leaders of our time – Ken Chenault presents a unique master class on corporate and civic leadership. […read more]

Kathy Kraninger, the Director of the Consumer Financial Protection Bureau (CFPB) announced the agency’s plan to repeal a rule aimed at stopping the payday lending debt trap. (Photo: iStockphoto / NNPA)
Business

CFPB Makes Move to Support Payday Lenders During Black History Month

NNPA NEWSWIRE — When given the chance at the ballot box, Americans overwhelmingly vote to impose a 36 percent or less rate cap. Today, 16 states and the District of Columbia have these rate caps in place, providing strong protection from payday loan sharks. In remaining states – those without a rate cap – interest rates run as high as 460 percent in California, over 400 percent in Illinois and 662 percent in Texas. […read more]

For those of you that already have an estate plan, the question is whether it is suited to the facts of your current personal and financial circumstances.
#NNPA BlackPress

“Resolve to Make or Update Your Estate Plan

PASADENA JOURNAL — Estate planning is not difficult. It is simply creating documents to let people know what you want to happen to you and your possessions when you can no longer express those wishes. For some people a handwritten will, beneficiary designations on accounts and filling in forms available at a legal stationery store may be sufficient. […read more]

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Congressman Al Green (D-TX), Chairman of the Subcommittee on Oversight and Investigations, wrote to Consumer Financial Protection Bureau Director Kathy Kraninger (Photo: Wikimedia Commons)
Business

Representatives Waters and Green Request Documents from Consumer Bureau on Recent Settlements

NNPA NEWSWIRE — “The Consumer Financial Protection Bureau (“Consumer Bureau”) has recently announced several settlements against entities for engaging in unlawful practices without requiring the payment of redress to consumers harmed by the illegal conduct,” the lawmakers wrote. “This stands in stark contrast to the Consumer Bureau’s practice under the leadership of former Director Cordray. During Director Cordray’s tenure, the Consumer Bureau recovered nearly $12 billion in relief for harmed consumers over its first six years.[1] American consumers deserve a Consumer Bureau that will fight to recover their hard-earned money when they are cheated.” […read more]

Steve Hightower is the CEO and president of Hightowers Petroleum, a privately-owned, Ohio-based company.
AutoNetwork on BlackPressUSA

AUTONETWORK: Black Millionaire Steve Hightower Talks About His Drive to Create A Billion-Dollar Petroleum Business On SiriusXM’s ‘Auto Trends’

Hightowers Petroleum is one of the top 15 black-owned businesses in the nation, according to Black Enterprise and provides fuel to a number of Fortune 500 companies. Hightower’s business portfolio includes investments with a number of American and foreign automakers, where his company holds the exclusive gasoline account to fuel vehicles upon final build, at various assembly plants throughout the world. […read more]

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the attached remarks during her first policy speech in the 116th Congress.
Business

Waters Outlines Agenda in First Policy Speech as Committee Chairwoman

NNPA NEWSWIRE — “…Millions of families that rely on HUD rental assistance programs are perilously close to losing their homes due to projected lapses in funding. What’s more, it was recently reported that HUD, under Secretary Carson’s leadership, has failed to follow its own contingency plan, and as a result 1,150 project-based rental assistance contracts have expired, with hundreds more hanging in the balance if this shutdown does not end.” […read more]

“The initial goal of the Diversity Volume Leadership Awards was to create awareness within the U.S. auto industry of the top vehicles purchased by ethnic consumers, women, LBGT consumers and ethnic millennials,” said Marc Bland, vice president of diversity and inclusion, IHS Markit.
AutoNetwork on BlackPressUSA

PRESS ROOM: National Association of Minority Automobile Dealers and IHS Markit Honor the Power of Multicultural Automotive Buyers with the Fourth Annual Diversity Volume Leadership Awards

NNPA NEWSWIRE — “Some thirty percent of new vehicle purchases are made by multicultural consumers but only six percent of dealerships are minority owned,” said National Association of Minority Automobile Dealers (NAMAD) President Damon Lester. “That means 18,000 dealerships exist in the USA and just 1,100 are minority owned.” […read more]

Our dignity and respect must begin as Black people in our families, and then our community, our country, and then the world.(Photo: iStockphoto / NNPA)
Business

COMMENTARY: Living in America While Being Black Under the Trump Regime

NNPA NEWSWIRE — “The buying power of the African American community is $1.1 trillion, but it only circulates 6 hours in our community, and the Asians keep a dollar in their community 120 times longer than African Americans. The Jewish keep the dollar in their community for 20 days, and the dollar in the White community circulates 17 days.” […read more]

To begin, very few African Americans are aware of or have information about Opportunity Zones, and many consumer advocates warn that the investments may not reach distressed areas.
Business

COMMENTARY: “Opportunity Zones” The New Trump Executive Order For Blacks

NNPA NEWSWIRE — On paper, “Opportunity Zones” appears to be an excellent concept and major corporations have an opportunity to invest in distressed communities and get a break on their taxes. These Opportunity Zones were created a year ago under the 2017 Tax Cuts and Jobs Act, but a year later there are still no established rules to implement the program. […read more]