Equitable Media and Economies Initiative

BIPOC Media Unite to Catalyze Investments in Equitable Media

More than 140 BIPOC (Black, Indigenous and People of Color)-owned media outlets and supporters mobilized under MMCA’s leadership to urge federal regulators to incentivize bank investments in Equitable Media as part of the Community Reinvestment Act. 

THANK YOU! 

Together, we sent a clear and unified message that investing in BIPOC media is a vital part of creating an inclusive economy. 

Specifically, we called on federal agencies to include investments in Equitable Media on the list of CRA "qualified activities," and to encourage banks to use Equitable Media as community engagement intermediaries to more effectively inform and engage residents and to advance their equitable revitalization efforts. 

These changes, if implemented, will help to unlock an unprecedented, unparalleled and sustainable revenue source for strengthening BIPOC media ownership and the communities they serve. 

Consider: from 2009 to 2020, U.S. banks invested nearly $3 trillion to improve the lives of low- and moderate-income families and revitalize their neighborhoods thanks to CRA, enacted in 1977 to end the discriminatory practice known as redlining.  

If even a fraction of that money is funneled to support BIPOC media, it could transform our entire media ecosystem, and we banks will be more likely to do it if they can be sure they will receive CRA credit. 

Getting federal agencies to agree is just the first step in a coordinated effort to awaken banks and other community development stakeholders to the essential role that BIPOC media play in informing and supporting local communities and the need to act now to ensure their survival. 

How you can help: 

•  Share this press release about our mobilization efforts; 

•  Become a member of the BIPOCXChange to receive alerts about CRA reforms, funding opportunities, and to connect and collaborate with other BIPOC publishers and supporters; 

•  Help us identify the infrastructure, education and resources needed to ensure BIPOC publishers can access CRA dollars and other community development financing. 

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