06-20-2025  2:30 am   •   PDX and SEA Weather

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NORTHWEST NEWS

During Record Eviction Rates, Advocates Decry Possible Slashes to Eviction Prevention

Pulling support will fuel homelessness crisis, advocates warn state leaders.

Juneteenth 2025 Celebrations in Portland and Seattle

Juneteenth is a young federal holiday, but the Black day of independence has been observed since June 19, 1865.

City Council Approves and Increases Central Albina Settlement

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VanPort Mosaic Festival Fights Cultural Amnesia

Two-week event honors survivors of VanPort flood, their descendants and survivors of Japanese Internment in annual festival.

NEWS BRIEFS

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Former Motel 6 to Open as Delta Park Motel Shelter in North Portland

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Oregon Housing and Community Services Awards $8.7 Million in Down Payment and Home Repair for Veterans 

Eligible veterans and their families at or below 100% of area median income can qualify ...

Upcoming Virtual Meeting to Shape Oregon Civil Rights Agenda

Members of the public can participate in the open comment period at the end of the meeting, providing an opportunity for local voices...

Oregon in Multi-State Legal Fight to Protect Genetic Information in 23andMe Bankruptcy Case

AG Rayfield: People did not submit their personal data to 23andMe thinking their genetic blueprint would be sold off to the highest...

OPINION

SB 686 Will Support the Black Press

Oregon State Senator Lew Frederick brings attention to the fact that Big Tech corporations like Google and Facebook are using AI to scrape local news content and sell advertising on their platforms, completely bypassing local news sites like The...

Policymakers Should Support Patients With Chronic Conditions

As it exists today, 340B too often serves institutional financial gain rather than directly benefiting patients, leaving patients to ask “What about me?” ...

The Skanner News: Half a Century of Reporting on How Black Lives Matter

Publishing in one of the whitest cities in America – long before George Floyd ...

Cuts to Minority Business Development Agency Leaves 3 Staff

6B CDFI affordable capital for local investment also at risk ...

AFRICAN AMERICANS IN THE NEWS

ENTERTAINMENT

U.S. & WORLD NEWS

Blake Ellis CNN Money

NEW YORK (CNNMoney) -- While the average African American is feeling more financially secure, many still feel neglected by the financial industry, new research shows.

Half of African Americans say their financial situations have improved from a year ago, compared to 33% of the general population, according to a Prudential report released Tuesday. The survey polled 1,153 people who identified as African American or black and a general sampling of 471 Americans.

African Americans are also significantly more confident about making financial decisions. Nevertheless, they get 13% less contact from financial advisers, and only 26% of respondents feel that a financial firm has "effectively engaged and shown support for the African American community." As a result, only 19% have financial advisers, compared to 30% of the overall population.

Yet on average, African Americans find the financial industry to be more trustworthy than the general population does, and more than half say a financial adviser could help them -- making this underserved population an untapped opportunity for financial firms, Prudential found.

And the need for help is there.

Debt is the number one concern among the African American population, according to the survey. The median household had $18,000 in non-mortgage debt -- including student loans, credit cards and personal loans. That's 50% more than the general population. And those with college degrees were twice as likely to have student loan debt than the average college-educated American.

With higher debt, it's often harder to build savings. Median household savings is only $40,000 for African American households, compared to $97,000 nationally. When a college education is added to the equation, household savings rises to $66,000 for African American households but jumps to $207,000 for the average American household.

African American respondents were half as likely to have long-term investments like stocks, bonds and mutual funds. Yet they were significantly more likely to be financially supporting someone who is unemployed, as well as grandparents, parents, children and grandchildren.

 

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