Mastercard Expands Inclusive Growth Efforts in the U.S.

Mastercard(No. 7 on the DiversityInc Top 50 Companies list) and the Mastercard Center for Inclusive Growthhas announced the findings of a multi-city inclusive growth initiative and three new grants supporting research and programs to help ensure more Americans can benefit from a growing economy.


The report and research grants result from a recently concluded series of roundtable discussions and panels entitled, On the Front Lines of Inclusive Growth,” through which Mastercard executives met with more than 100 civic leaders, entrepreneurs, policymakers and independent citizens to gain a better understanding of social and economic growth barriers and to identify opportunities to leverage Mastercard assets in making a positive social impact. The initiative included stops in Atlanta, Chicago, Columbus, New York, Oakland, St. Louis and Washington D.C.

Mastercard North America president, Craig Vosburg, spoke on the importance of inclusion at the CFSI Emerge Financial Health Forum on June 16 stating, “Together, we need to focus on creating a sustainable way to help bridge the divide that exists today in the U.S. Over the last few months, we heard critical inclusion issues first hand from people working with vulnerable Americans. From these insights, we identified key areas where we along with our business partners can make real impacts to improve financial inclusion and growth in the U.S.”

Initial actions resulting from the initiative include three grants focused on small businesses and research on sustainable economic development:

  • Action Support innovations to build the resiliency of small businesses to financial shocks and enable them to achieve sustainable business growth. The grant will fund a program to test the impact of consumer and financial data on business’ financial health.
  • PolicyLink Conduct new research on the economic characteristics of over 100 million people in the U.S. living at 200 percent of the poverty line or below. The work will result in a detailed profile of the broader workforce trends shaping opportunities and barriers to economic mobility for one-third of the U.S. population.
  • Urban Institute Develop data driven metrics and methodologies to better answer key questions related to inclusive economic growth in U.S. metropolitan areas. The project will combine Mastercard insights with public data to create new indicators and identify new evidence to support and monitor local inclusive growth efforts.

“When you know better, you do better,” said Shamina Singh, president, The Mastercard Center for Inclusive Growth. “As we learned from our meetings with public and private sector leaders at all levels, sustainable economic growth requires evidence-based programs and partnerships. Our collaboration with Accion, PolicyLink and the Urban Institute, supports critical research, analysis and insights that will unlock the economic potential of some of the nation’s most vulnerable populations.”

Identifying Opportunities to Advance Economic Mobility in U.S. Cities” summarizes the results of the roundtable discussions and highlights five areas of opportunity for action. The report is available for download by clicking here.

Latest News

map of Iowa

Black Iowa Democratic Party Chair Ross Wilburn Threatened With Lynching After Penning Anti-Trump Op-Ed

An Iowa Democrat has been threatened with violence simply for writing an opinion piece critical of the former president. Brianne Pfannenstiel of the Des Moines Register has reported that “Iowa Democratic Party Chair Ross Wilburn received multiple threats, including one of lynching, after he penned an opinion piece critical of…

Facebook logo

Facebook Forced To Pay a Record $14-Million Settlement for Discriminating Against US Workers

October continues to be a month Facebook likely wishes it could forget. First came Frances Haugen, the whistleblower who explained in chilling detail how the site and its algorithms are designed to profit off what she called “the spread and amplification of hate, misinformation and political unrest.” Then there was…

AbbVie’s ‘Ability’ Employee Resource Group on How the Company Champions People With Seen and Unseen Disabilities

Originally published at stories.abbvie.com. AbbVie ranked No. 15 on The DiversityInc Top 50 Companies for Diversity list in 2021.   In the sixth of a seven-part Employee Resource Group (ERG) series, we’re shining the spotlight on Ability at AbbVie. This group focuses on advocacy and inclusion, uniting employees with disabilities,…