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USA Today: ‘Values Cannot be Words on a Wall’: PayPal CEO Dan Schulman on Why Corporations Must End Racial Discrimination

USA Today, July 15, 2021, ‘Values Cannot be Words on a Wall’: PayPal CEO Dan Schulman on Why Corporations Must End Racial Discrimination

Corporations have a moral obligation to stand up for racial equality and social justice inside their own organizations and in the nation at large, PayPal CEO Dan Schulman told USA TODAY.

From the moment George Floyd died on the South Minneapolis pavement under the knee of a white police officer, Schulman knew his company must act. More than a year later, he says PayPal has embraced a new brand of corporate activism.

On his watch, PayPal committed $535 million to support Black-owned businesses and to fight economic inequality, part of Schulman’s goal to close the racial wealth gap.

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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