The Root, October 7, 2020, The Color of Money: How Black Banks Build Black Economic Mobility
The Black community has had to face unfair opportunities with Financial services, which has hindered their ability to create wealth. One aspect that has benefited the black community’s wealth are black owned banks.
For far too long, Black people in America have not had fair and equitable access to financial services. It’s no surprise that this lack of access has had a tremendous impact on the Black community’s ability to build wealth. While, there are many economic factors that have inhibited this wealth-building potential, among them, is the lack of Black-owned banks.
Enter the #BankBlack movement. While the hashtag took off several years ago, the idea of keeping the Black dollar in the Black community (and at Black financial institutions) has been around for generations.
