Is it legal for BoA to give grants based on race? (Israel, racism)
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It would seem as a private company, they can choose to target a specific percentage of their programs to POC. College scholarships often do the same thing.
Government contracts sometimes also require a specific percentage of a contract be delegated to DBE companies.
It would seem as a private company, they can choose to target a specific percentage of their programs to POC. College scholarships often do the same thing.
Government contracts sometimes also require a specific percentage of a contract be delegated to DBE companies.
Unless, of course, you are a bakery and then you have no choice per the courts.
Nothing new here. go look at just about any School's website and look at available grants and scholarships there are lots that are raced based, especially the criteria of having to be black to apply. Been going on for decades. There was a story from years ago where a white kid created a scholarship for white only and it briefly gained some attention. The whole thing was set up to point out how wrong race based aid was.
Congress institutes programs for minorities. The US Dept of Education is giving college grants based on race. They call those programs for underrepresented groups. BoA probably gets some government credit for the business of color grant program.
There is nothing illegal about this. The bank is simply doing philanthropic giving (donation) to community organizations that assist "communities of color". It is no different than chick fil a giving money to anti-LGBTQ groups. It is up to the shareholders whether they support such giving or not.
Stow the outrage. This is no different from any other charitable group deciding who it wants to give its money to.
Quote:
Originally Posted by NightZeroTX
Explain or post a source on how it is legal.
Key words: Philanthropic dollars.
Did you read the article?
Quote:
Originally Posted by Du Ma
It’s legal for give grants based on race?
What if BoA starts giving out loans to white people only?
Philanthropic grants and business loans are two separate actions, two separate pots of money, two separate lists of rules and regulations governing those actions.
You didn't read the article, either. Bank of America is not providing grants only to communities of color; it has granted additional donations toward communities of color.
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