Black Stats Frequently requested
data on African American consumers
Black Buying Power:
$836 Billion (2010)
Black U.S. Population:
Top Five Black Cities
- New York
Top Five Black Metros:
- New York-New Jersey
- Los Angeles
Top Five Expenditures:
- Housing $203.8 bil.
- Food $65.2 bil.
- Cars/Trucks $29.1 bil.
- Clothing $29.3 bil.
- Health Care $23.6 bil. ______________________
Quick access to key stats
Click here to go to African-American Census Bureau
2011 by Target Market News Inc. All rights reserved
228 S. Wabash Ave.
Chicago, IL 60604
Wells Fargo open Financial Freedom Center to assist ethnic consumers
(April 6, 2011) The NAACP has opened the NAACP Financial Freedom Center,
the next phase of a groundbreaking agreement with Wells Fargo & Co. to
provide financial education and banking resources to consumers. The
Center will be the headquarters of the NAACP Financial Freedom Campaign,
an initiative to influence change in the banking industry, prevent
unfair mortgage lending practices, protect the community against
predatory mortgage lending practices, improve fair credit access, and
promote sustainable homeownership, financial education and wealth
building strategies in historically disadvantaged communities.
The agreement with Wells Fargo and NAACP was initiated last year and
through this partnership, Wells Fargo became the first bank to endorse
the NAACP's Responsible Mortgage Lending Principles. The agreement also
includes a process for sharing data, assessing Wells Fargo's lending and
servicing practices, and a shared accountability for progress.
The NAACP Financial Freedom Center will provide workshops on topics such
as money management and home preservation through partnerships with
community groups in the D.C. area. The Financial Freedom Center will
serve as a base for NAACP units across the country to learn and organize
around financial and economic empowerment. It will also hold gatherings
to educate leaders in the financial industry about the historical impact
of racial discrimination and best practices in achieving racial equity.
The Financial Freedom Center will be staffed by a team of NAACP
professionals. Volunteers from nonprofit organizations, financial
institutions such as Wells Fargo, and others will be on site at the
Center and across the country to provide guidance in such areas as home
preservation, attaining a mortgage, credit repair and more.
"We applaud Wells Fargo for agreeing to increase financial education and
wealth building opportunities tailored to communities of color," stated
NAACP Chairman Roslyn Brock. "This partnership will increase awareness
and assist minority consumers in making informed decisions regarding
financial products and services."
"Our aim is to change mortgage lending industry practices that have
shattered families and neighborhoods and to rebuild our communities,"
stated NAACP President and CEO Benjamin Todd Jealous. "We commend Wells
Fargo for voluntarily providing us increased access to information on
its business practices that will allow the NAACP to better assess its
lending practices and continue our mandate of protecting and advocating
for our communities. Working together, we can address problems before
they affect our community and provide the financial education needed to
strengthen the movement taking place for sustainable financial
strategies and real wealth building."
"We take very seriously our commitment to responsibly serve all
customers across the credit spectrum and are working with partners
across the nation to increase homeownership, prevent foreclosures, and
stabilize African American communities. We are pleased to work
side-by-side with the NAACP to provide financial education to those who
are struggling to put their lives back together again," said Jon R.
Campbell, executive vice president of Social Responsibility at Wells
Fargo. "In the spirit of collaboration, the NAACP is already providing
valuable input into programs being planned to make further improvements
in our consumer outreach, education programs and our foreclosure
ORDER TODAY! New
"Buying Power" report: Black consumers spend as economy grows Details $507
expenditures African-American consumers are cautiously increasing their
spending in some key product categories, even as they continue to make
adjustments in a slowly growing economy. The finding comes from the 16th annual edition of "The Buying Power of Black America"
report published by Target Market News..
In 2009, black households spent an estimated $507 billion in 27 product
and services categories. That's an increase of 16.6% over the $435 billion
spent in 2008. African-Americans" total earned income for 2009 is
estimated at $836 billion...