Congressional Black Caucus Statement on Minority Business Development Agency Ruling

WASHINGTON, D.C. - Today, Congressional Black Caucus Chairman Steven Horsford (NV-04) and members of the Congressional Black Caucus released the following statement on the Nuziard v. MBDA ruling:

"The Department of Justice's decision to not appeal the ruling in Nuziard v. MBDA is unfortunate. This ruling adds to the ongoing efforts to cut off access to capital for Black and minority business enterprises. In March, a federal court acknowledged that minority business enterprises "have far less access to capital and credit…due to racial discrimination in lending markets," however, it still ruled that Congress violated the Constitution by requiring the MBDA to presume that members of specified racial or ethnic groups were eligible for MBDA Business Center services on the basis of discrimination or impaired ability to compete due to lack of capital and credit opportunities.

"While the MBDA will be able to continue its important work, the CBC disagrees with this decision whole-heartedly and will continue our work to remove barriers and provide access to capital and opportunities to ensure that Black business owners are able to compete in the 21st century economy."