CBB Responds to Racial Injustice
We Join Our Community in Taking a Stand
We stand today to reaffirm our commitment to an inclusive community. Community Bank of the Bay (CBB) has long upheld the values and principles of equal opportunity as core to our mission as a Community Development Financial Institution (CDFI). The entire CDFI industry was founded in response to years of structural and systemic racism in the American financial industry.
The individuals, businesses, non-profits, and faith-based organizations that we serve are the main threads of our societal fabric and they deserve the opportunity to pursue their dreams in a safe and just society. Unfortunately, too many in African-American communities are not being afforded such opportunity, or even their basic rights.
We join with our community to mourn the recent senseless killings of George Floyd, Breonna Taylor, Ahmaud Arbery and too many others who came before them. We take a strong stand against racism, and we will not tolerate injustice, or accept the use of force against members of our community. We at CBB stand with our community and demand that all Black lives matter.
We pray that positive and lasting change comes from these recent tragedies and the ensuing righteous outrage. All of us as individuals and as public and private institutions must play a role in creating the change that is long past due. Financial institutions can play an especially important role by responsibly engaging with the economically fragile neighborhoods that are often home to the victims of systemic racism.
We call on fellow members of the financial community to contribute. Sign Anti-Displacement Codes of Conduct, such as the California Reinvestment Coalition’s Code that we signed in 2018. Commit to investing responsibly in communities rather than finance speculative redevelopment that is designed to displace longtime residents. Commit to responsible, effective, and supportive lending efforts in lower-income communities. Help break the reliance on predatory lending practices that drain wealth and impede prosperity in our communities.
And commit to doing more as we now do. We commit to supporting the fight for racial equity and justice, as we commit to being a source of support for all members of our community. We commit to listening to our community and supporting the creation of financial products and programs that build wealth and create opportunities for future generations.
We commit to working to build the equitable tomorrow that we all seek.