A grant program for Black women business owners is discriminatory, appeals court rules

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 85 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 54%
  • Publisher: 63%

Fearless Fund Nouvelles

Edward Blum,Black Women,Federal Court Of Appeals

NEW YORK (AP) — A U.S. federal court of appeals panel suspended a venture capital firm's grant program for Black women business owners, ruling that a...

NEW YORK — A U.S. federal court of appeals panel suspended a venture capital firm's grant program for Black women business owners, ruling that a conservative group is likely to prevail in its lawsuit claiming that the program is the discriminatory.

The court ordered the Fearless Fund to suspend its Strivers Grant Contest, which provides $20,000 to businesses that are majority owned by Black women, for the remainder the lawsuit. The ruling reversed aruling last year that the contest should be allowed to continue because Blum's lawsuit was likely to fail.

But Alphonso David, Fearless Fund’s legal counsel who serves as president & CEO of The Global Black Economic Forum, called the ruling “the first court decision in the 150+ year history of the post-Civil War civil rights law that has halted private charitable support for any racial or ethnic group.”"This is not the final outcome in this case; it is a preliminary ruling without a full factual record. We are evaluating all of our options,” he said in a statement.

The Strivers Grant Fund is one of several programs run by the foundation arm of the Fearless Fund, a small firm founded to address the wide racial disparity in funding for businesses owned by women of color. Less than 1% of venture capital funding, for example, goes to businesses owned by Black and Hispanic women, according to the nonprofit advocacy group digitalundivided.

Donald Trump Is Banned from 37 Countries as Convicted Felon, Including Major Allies Like Canada and U.K.Älä anna huonon muistin haitata, kun siihen voi vaikuttaa.Former President Trump suggested being placed on house arrest for his hush money conviction could be a “breaking point” for Americans, whom he claimed “would not stand for it.” “I’m not sure the public would stand for it,” Trump said Sunday in an interview with Fox News’s Will Cain, Pete Hegseth and Rachel Campos-Duffy.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 47. in BE

Belgique Dernières Nouvelles, Belgique Actualités