STUDY: Lack of Access to Financial Services Exacerbates Racial Wealth Disparities.

Busette said that median accumulated wealth for white households in America is about $111,000, while African-American households have accumulated about $7,000. According to numbers released this year by the Economic Policy Institute, the gap is even wider, with median wealth for white households recorded at $134,230 and black households $11,030. Average wealth, according to EPI, is $678,737 versus $95,261.

EPI also broke down the wealth gap by distribution of college and graduate degrees. White college degree holders reported about $180,500 in median wealth accumulation versus $23,400 for African-Americans. For graduate degrees, the difference is $293,100 to $84,000.

“That gives you an idea of the disparity and why it’s so important to have folks included in the formal financial system,” Busette said.

Successful inclusion into a bourgeois institution like the financial system requires the adoption of bourgeois values and behaviors.