Digital Black-owned bank aims to tackle financial injustice
Greenwood gets the backing of a few notable Ebony influencers.
Uncovering the past reputation for the Tulsa massacre
Area of the discussion concerning the present racial reckoning in the us amid the Black Lives thing motion surrounds injustice that is economic. Inequity in home ownership between white and Black Americans, a scarcity of banking options obtainable in Ebony and brown communities, therefore the difficulty Ebony business owners face securing loans to invest in smaller businesses — are associated with issues over monetary inequality.
A bill a year ago had been introduced in Congress by a few Senate Democrats which will make discrimination within the banking industry clearly unlawful for the very first time. The bill happens to be sitting within the Committee that is congressional on, Housing, and Urban Affairs.
Those issues over economic injustice have actually led Ebony entrepreneurs that are financial produce economic solutions and banking institutions for communities of color.
There are numerous Black-owned finance institutions which have been founded through the entire years: OneUnited, Broadway Federal Bank, CitiFirst Bank are included in this, plus the country’s earliest continuously-Black-owned bank, Citizens preserving Bank and Trust business, created in 1904.
While these banks that are black-owned as real, alleged “brick-and-mortar” buildings, they have launched electronic elements supplying for online banking as an element of their profile of solutions.
But, one banking that is black-owned, poised to introduce later on this present year, is positioning it self as a totally 100% electronic Black-owned bank, and it has drawn Ebony celebrity star energy in order to attract those trying to help Black-owned organizations and keep bucks in communities of color. Continue reading “Digital Black-owned bank aims to tackle financial injustice”
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