The Washington PostDemocracy Dies in Darkness

Opinion The personal finance industry must address racial discrimination

Columnist|
June 12, 2020 at 7:00 a.m. EDT
A customer uses a bank card to make a contactless payment in Norwich, England, on Tuesday. (Chris Ratcliffe/Bloomberg News)

Last week, long-simmering tensions erupted in the sometimes insular world of personal finance blogging. The putative spark: tweets by Philip Taylor, founder of the popular personal finance conference FinCon, that some viewed as dismissive of the recent protests over police violence toward African Americans.

It opened the floodgates. Many personal finance stars took the opportunity to reveal long-standing grievances with FinCon and the state of personal finance influencing more generally. Many were bothered by the conference’s contractual ban on speakers directly addressing politics during their presentations. “It ignores so much financial reality, most especially for marginalized communities,” said blogger Tanja Hester. Within days, Taylor stepped down as CEO of his own conference, while promising to hold roundtables on race and do better in the future. “I look forward to those discussions,” he told me in an email Wednesday.