Banking Rules Keep Leaving Minorities Behind

In Pennsylvania, many people of color still find it hard to get fair banking help. The state has tried programs that look promising, like a low‑interest loan plan during COVID. Out of 761 loans approved, only 41 went to minority‑owned businesses – a tiny share. A later grant of $200 million was aimed at the smallest, most vulnerable firms. Half of that money is set aside for minority businesses, yet it feels like a second‑chance effort rather than a true fix. National laws such as Dodd‑Frank were meant to stop unfair lending practices.However, rules like the Durbin Amendment cut debit‑card fees but ended up removing free checking and rewards that many people rely on. Studies show most businesses did not share the savings with customers, hurting those who needed help the most. If Pennsylvania wants real fairness, lawmakers must pause before adding more rules. They should ask whether a new law will truly open banking doors or simply close them for underserved neighborhoods. Minorities have always had to catch up, but they deserve more than a quick win. True equity means building systems that give them equal chances from the start.