New York (CNN Business)Editor's note: An earlier version of this story and headline misstated the findings of the McKinsey study on wealth. It has been updated and corrected.

An estimated 19% of Black American families, roughly 3.5 million households, have a negative net worth because of a history of discriminatory policies from the government and private industry that has hindered their accumulation of wealth over time, according to a new McKinsey & Company study released Thursday.