banking

There’s nothing inherently wrong about a financial institution earning a fair profit. But there is nothing fair when billion-dollar institutions design products to prey upon people with the fewest financial resources — just to boost their bottom lines.

At a protest Tuesday outside the Roxbury headquarters of BlueHub, formerly Boston Community Capital, Cheryl Ortiz and a few dozen other homeowners rallied against its lending practices.

With Massachusetts residents continuing to struggle in the wake of the COVID-19 pandemic, advocates and lawmakers have taken the opportunity to promote an out-of-the-box solution — putting banking power, primarily lending capabilities, in the hands of the state.

America’s biggest bank planted official roots last week in Mattapan Square with the cutting of a Chase-logo ribbon by America’s most powerful banker.

Recognizing that something more must be done to address the City of Boston’s persistent and growing racial wealth gap, former Mayor Martin Walsh created the Office of Financial Empowerment (OFE) to connect Boston residents with skills and resources to improve their financial empowerment and advance their economic equity.