Money

First Tennessee Bank elevated Lynne Walker’s status 27 months as the bank sought to enhance its strategy for diversity and inclusion in the company and its communities. According to information released this week, First Tennessee has more than doubled its diversity spend in two years to about 15 percent and...
By Charles Sims Jr., Special to TSDMemphis.com Contributing to a traditional IRA or an employer-sponsored retirement plan may offer a current-year tax benefit by reducing taxable income. However, distributions — including any earnings — are taxed as ordinary income. By contrast, contributions to a Roth IRA or a designated Roth account...
The median wealth of Black Americans will plummet to zero by 2053, if things remain as they currently are. You read that correctly. Black Enterprise magazine reports that according to the Prosperity Now and the Institute for Policy Studies’ The Road to Zero Wealth report, it doesn’t matter how fat your...
According to a recent study by the Financial Industry Regulation Authority (FINRA), two-thirds of Americans cannot pass a financial literacy test. Such tasks as devising a budget, computing interest on a loan, maintaining a savings account, understanding how investments and the stock market work, balancing a checking account each month,...
First Tennessee Bank, a member of the First Horizon National Corp. (NYSE:FHN) family of companies, announced this week that Executive VP, Director of Affinity Strategy, Lynne Walker won Gold in the Female Executive of the Year Award (employees 2500+) Consumer Services category and Silver in the Female Executive of...
“Incredible and startling,” is how Daphne McFerren labels gaps in income, housing and healthcare faced by minorities through systemic exclusion. McFerren, executive director of the Benjamin Hooks Institute for Social Change at the University of Memphis, opened an event on Monday revealing the 2019 Hooks Policy Papers. “We look at trends...
By Wendi C. Thomas, MLK50.com The city’s largest nonprofit hospital system has erased the debts owed by more than 6,500 patients it sued for unpaid hospital bills, less than two months after announcing an overhaul of its debt collection processes. The dramatic shift was prompted by an MLK50-ProPublica investigation that revealed that Methodist...
Memphis City Council members have shelved voting on an ordinance that could result in the immediate removal of the Confederacy-saluting statues of Nathan Bedford Forrest from Health Sciences Park and Jefferson Davis from Fourth Bluff Park. The plan now is to await the outcome of the Tennessee Historical Commission (THC)...
Memphis is experiencing a “slow-moving self-reinforcing decline in transit, which could be called a vicious cycle of declining ridership and service.” That picture emerges from the Transit Vision Choices Report prepared by Jarrett Walker + Associates and released on the Memphis 3.0 web portal on Monday. And while Memphis is not...
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T-Pain has felt the pain of being broke after he earned millions. The rapper sat down with The Breakfast Club and opened up about his financial struggles and the lessons he’s learned going from really rich to financial ruin. —WATCH: T-Pain bounces when hit with beach ball during concert for youth...