Originally published on [Yahoo Finance]
March 4, 2021
The Change Company, America’s Community Development Financial Institution (CDFI), has named B.C. Silver to be its President, Digital Banking and the Chief Executive Officer of Change Finance.
"I am excited by the opportunity to join The Change Company to bring real change and financial inclusion to underserved individuals, in communities like my hometown of Atlanta and new home of Los Angeles. Throughout my life, I have been blessed with opportunities to create foundational impact through my work. At Change Finance, we are able to offer robust home and consumer lending solutions through our digital bank platform. Our approach of expanding banking and lending to Black, Latino and lower income Americans will disrupt legacy banks and neo banks, and help bring greater racial equity to homeownership in America. We are on a mission to lend over $2 billion in 2021 to expand Black and Latino homeownership."
Mr. Silver previously founded Grind Banking – a digital bank focused on serving Black consumers. Mr. Silver has also served as President and Chief Marketing Officer for RushCard and Vice President at Green Dot Corporation, where he oversaw the mobile banking and payment cards business that served over two million consumers. Mr. Silver also worked at Mars Company, The Clorox Company, and Procter & Gamble. Mr. Silver currently serves on the Board of Directors of Rent-A-Center (NYSE: RAC).
"B.C. Silver is a unique leader with an uncompromising passion for the underbanked born of his own life journey. We are blessed to join forces with B.C. and his team to drive innovation and expand our product offering to include a full-suite of digital banking solutions. B.C. understands that all Americans deserve the best mobile banking technology, access to the best loan programs, and fair and responsible terms," said Steven Sugarman, Founder of The Change Company. "I am excited that B.C. will help Change Finance bring digital-first banking and lending services typically reserved for private banking clients to all consumers. B.C. is an invaluable change agent who will help The Change Company continue to disrupt banking, lending, and the status quo."
Mr. Silver and Change Finance will invest in and bring jobs to Los Angeles’ Black and Latino communities as an Opportunity Zone business. B.C. will also help lead The Change Company’s Black Homeownership Initiative which, in partnership with Netflix, seeks to provide over $1 billion of lending to expand Black homeownership.
About The Change Company
The Change Company empowers homeowners, small businesses, and consumers to pursue their American dreams by bringing social and racial equity to banking and lending. The Change Company team has built businesses that have lent American consumers and businesses over $50 billion, served over 250,000 borrowers, and provided financial services, directly and through partnerships, to over two million Americans.
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