Changes to federal bank rules that influence trillions of dollars of loans, investments, philanthropy and services in lower-income communities could offer a new path to survival for struggling local news and information providers.
The Multicultural Media & Correspondent Association (MMCA), a network of Black, Indigenous, and People of Color (BIPOC) media owners and advocates, is asking its members to sign a comment letter that urges bank regulators to add financing, investments and spending with minority-owned media to a list of community development activities that earn banks credit under the Community Reinvestment Act (CRA).
