Bank regulators finalized changes on Tuesday to a 1977 law meant to address racial discrimination in banking — particularly the practice of redlining, the previously federally-sanctioned practice of not providing home loans to Black borrowers in certain neighborhoods.
Why it matters: It's an update tothe Community Reinvestment Act, last revised in 1995, well before the internet changed how Americans bank. The new rules are expected to be tougher on banks.
The UAW strike is sapping the Detroit Three automakers' profits, but the union's strike fund is still in good shape even as the stoppage grows to include new facilities.
American's trust in media has fallen to a historic low, according to new polling from Gallup.
Why it matters: Trust in media had previously dropped to 32% in 2016 before rebounding slightly. Those gains have essentially been wiped out, according to the poll.
Unlike modern recessions that have seen Black and Hispanic workers bear the disproportionate brunt of the downturn, that didn't happen during the pandemic's recession and recovery.
Why it matters: The gap in economic results among racial groups has narrowed in the last three years, making this recovery "the most equitable in recent history," as a new Treasury Department report puts it.
An off-duty Alaska Airlines pilot was charged with 83 counts of attempted murder for allegedly trying to shut down a plane's engines midflight on Sunday.
The big picture: Joseph David Emerson, 44, was riding in the jump seat of Alaska Airlines flight 2059 from Everett, Washington, to San Francisco and was subdued after attempting the shutdown, the company said.
The number of federally-backed loans to Latino-owned small businesses has nearly doubled in two years, hitting a record $3 billion, according to the U.S. Small Business Administration.
Why it matters:Latino-owned firms are among the nation's fastest-growing small businesses, but a lack of access to capital, credit and loans has prevented some of these businesses from scaling and growing.
Hispanic media company Sonoro has raised $12.5 million in venture funding, its co-founders Camila Victoriano and Josh Weinstein exclusively tell Axios.
Why it matters: Funding for Hispanic media companies has historically lagged in the U.S., but it's starting to increase amid a demographic boom.
Leveraged buyouts,or LBOs, aren't looking so leveraged anymore. Private equity funds are ponying up more of their own cash this year than ever before to fund their deals — and using less debt.
Why it matters: It shows how the high interest rate environment is reshaping the economy and the way big investors deploy capital.
Technology will eliminate scores of jobs over the next decade — and two-thirds of those losses will hit jobs currently held by women without college degrees, finds a new report shared first with Axios.
Why it matters: The analysis from left-of-center think tank Third Way paints what it calls a "bleak" future forwomen without college degrees, i.e., the majority of women in the U.S.
