I was once teaching a class of high school boys how race plays out in our financial experience. To make the point,  I had a White Jewish boy, a black Haitian boy, and an African American boy come to the front of the room. I asked the class who they thought would get a better deal if they walked into a car dealership. Immediately, the class echoed that the Jewish boy would get the best deal. When I asked why, they said because ‘he's smart about money.' A car dealer would not try to "get over†on him. As I was about to use their comments to launch into a discussion about how blacks get higher rates for cars, loans, etc. because of the stereotype the class just described, another boy said he would also give a good deal to the Haitian boy because he probably had more savings than the African American boy. "'Those people' come to this country, get good jobs and save their money,†he said. This launched the class into a lively debate about the financial characteristics of ‘the different flavors of black' people in our society.  It was fascinating to hear the young men discuss the different behaviors, patterns, and practices woven into the colorful tapestry of black in this country, a discussion that gets lost in the background due to the ways in which Americans like to simplify race by making it a matter of black and white. According to a study by Pew Research, there are 3.8 million black immigrants living in the United States, and their share of the black population is projected to rise from 9% to 16% by 2060. In addition, black immigrants are doing better economically than blacks born in the U.S. Household incomes for foreign-born blacks are, on average, $10,000 higher than U.S.-born blacks. And black immigrants are less likely to live in poverty (20% vs. 28%). The ‘different flavors of black in the U.S.' are largely ignored by many who provide financial services and products. It's unlikely that the car dealer I used in my example and that the students imagined so vividly would differentiate much between the Haitian young man and the African American young man when they came looking for a car. Blackenterprise.com spoke with Dr. Tracey Laszloffy, a licensed marriage and family therapist and an expert in race relations about this issue. BlackEnterprise.com: What are some of the dangers of ignoring the different cultures within black America from a social standpoint, and what are the dangers to individuals? Race is a social construction, but because we have all socially conspired to treat it as if it is a biological reality, a very real social structure exists that creates very different realities and access to resources and power, (Continued on next page) depending on where you are located within the racial hierarchy. ... Essentializing "blackness" is dangerous because it assumes there is one right way and real way to be black. In reality, there are a multiplicity of ways to express and experience blackness and no one is better than another. [RELATED: What Masks and Identities Do You Bring to Work] Different cultures have different financial behaviors. What are the dangers of the financial industry treating all people of color as if they have the same attitudes about money? Since the values of the financial industry are consistent with Northern Eurocentric values of individualism and autonomy versus communalism and collectivism, there is a strong bias that works against those whose ethnic roots are not Northern European. Along these lines, I would say that most people of color - African Americans, Caribbean blacks, Native Americans, Latinos, Asians, and Asian Americans - share an orientation that contrasts with Northern-Eurocentric values. With respect to the financial industry, the failure to recognize that cultural orientations shape attitudes and views toward money is a huge blind spot. But it also is problematic not to realize that there are a host of interacting variables that shape how people think about and handle money, including social class, background, religious orientation, regionality, etc. Do you think a greater understanding of the diversity in people of color will occur as minorities become the majority population within the next 50 years? Yes and no. As the population of people of color grows, white people will be forced to have more frequent interactions cross-racially. Just by virtue of more experience interacting with people of other races, knowledge tends to be enhanced. That would include white people recognizing the diversity that exists among and between people of color. What are some of the things people can do to avoid getting lost in these generalizations? When we make generalizations about a group, there is always some grain of truth reflected in them, but there also are important differences that need to be recognized. I try to use a both/and orientation that directs me to see similarities and differences. If we use black people as an example, I would argue that something they share in common are experiences as an oppressed and devalued group. At the same time, there are tremendous variations based on things like social class, religion, regionality, national origin/migration experiences, political values, etc. These factors also can impact how individuals experience and understand what it means to be a member of a racially oppressed and devalued group. We need to think in terms of similarities and differences and embrace both.