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#BankBlack Movement (Everything you need to know)
Posted on 4/7/17 at 4:25 pm
Posted on 4/7/17 at 4:25 pm
Full Story - Essence
It is my understanding that
is upset with Liberty Bank & Trust because they do not give back to the black community. They will take their money (and all money for that matter, regardless of skin color), but won't invest it back into the communities. Chauna has sinced pulled her checking account of $187.52 out of there.
quote:
Last summer, in the aftermath of the police shooting deaths of Alton Sterling and Philando Castile, the #BankBlack hashtag on social media urged African-Americans to move their money from mainstream financial institutions to those for us, by us. It resulted in a surge of business for the institutions that have historically been key to our economic growth.
quote:
ONEUNITED BANK
YEAR FOUNDED: 1968
ASSETS: $655 MILLION*
"Our focus is to be unapologetically Black and unapologetically focused on building wealth in our community," Williams says. That means providing some products that are uniquely suited to help financially
struggling customers. For example, people with a history of writing bad checks are often denied the ability to open checking accounts. OneUnited Bank's U2 Checking Account offers a second chance.
quote:
INDUSTRIAL BANK
YEAR FOUNDED: 1934
ASSETS: $384 MILLION*
quote:
LIBERTY BANK & TRUST
YEAR FOUNDED: 1972
ASSETS: $625 MILLION*
Liberty Bank & Trust, in New Orleans, is proof of what a good idea can lead to. Founded by local banking executive Alden J. McDonald, Jr., and then Xavier University president Norman Francis as a way to overcome mortgage lending disparities in the 1970's, the bank would go on to acquire smaller minority-owned banks in cities such as Baton Rouge, Louisiana; Kansas City, Kansas; and Detroit.
It is my understanding that
is upset with Liberty Bank & Trust because they do not give back to the black community. They will take their money (and all money for that matter, regardless of skin color), but won't invest it back into the communities. Chauna has sinced pulled her checking account of $187.52 out of there.
This post was edited on 4/7/17 at 4:26 pm
35
Posted on 4/7/17 at 4:26 pm to Will Cover
quote:
Chauna has sinced pulled her checking account of $187.52 out of there.
I
'ed
Posted on 4/7/17 at 4:28 pm to Will Cover
quote:
They will take their money (and all money for that matter, regardless of skin color), but won't invest it back into the communities
It must be purely coincidence hardly any money is invested in black communities in every city in America unless it is invested for gentrification reasons. That or anyone with the ability to invest is racist.
Posted on 4/7/17 at 4:28 pm to Will Cover
quote:
Chauna has sinced pulled her checking account of $187.52 out of there.
#TOOBLACK2STRONG
Posted on 4/7/17 at 4:28 pm to Will Cover
First page
Posted on 4/7/17 at 4:29 pm to Will Cover
I don't get it.
Is this the new black person renting space in your dome with GC?
Is this the new black person renting space in your dome with GC?
Posted on 4/7/17 at 4:30 pm to stout
Y'all say they don't save like the asians...then they attempt to and you still have comments
Posted on 4/7/17 at 4:30 pm to Will Cover
How is this legal?
Posted on 4/7/17 at 4:30 pm to Will Cover
I wish them the very best of luck and hope that such ventures revitalize black communities and culture.
Posted on 4/7/17 at 4:30 pm to sjmabry
all for blacks banking outta mainstream places,
that way the lines won't be long and we can get in and get out!
that way the lines won't be long and we can get in and get out!
Posted on 4/7/17 at 4:32 pm to Will Cover
I thought they kept their money as cash under the bed.
Posted on 4/7/17 at 4:32 pm to Will Cover
Banks have a long history of discriminating against people of color, particularly blacks.
Discriminatory banking came waaaayy before bad credit
I personally don't bank black but I really don't see the problem, especially if the goal is to invest in ones on community. There is a surplus of $ that flows out of black communities to other groups that never flows back.
Discriminatory banking came waaaayy before bad credit
I personally don't bank black but I really don't see the problem, especially if the goal is to invest in ones on community. There is a surplus of $ that flows out of black communities to other groups that never flows back.
Posted on 4/7/17 at 4:33 pm to TigerRob20
quote:
How is this legal?
As long as no one is discriminated against for a loan based upon their color of skin or gender, no harm, no foul.
Just don't be a white owned bank and try this and everything will be fine.
Posted on 4/7/17 at 4:34 pm to Will Cover
I mainly use the Chase ATM's at Walgreen's. Does that make me a participan of #BankBlack?
This post was edited on 4/7/17 at 4:35 pm
Posted on 4/7/17 at 4:34 pm to Will Cover
quote:
move their money from mainstream financial institutions
Are check cashing places and payday loan places considered mainstream financial institutions?
Posted on 4/7/17 at 4:35 pm to Jack Bauer7
Ahhhhhhhhhhhhhhh now I understand the free calendar thing...
Posted on 4/7/17 at 4:35 pm to Will Cover
You know you can be white and have an account at these places
If these banks have shared or similar history in terms of predatory loans and discrimination as some other banks, then they deserve all the shite that comes their way.
If these banks have shared or similar history in terms of predatory loans and discrimination as some other banks, then they deserve all the shite that comes their way.
Posted on 4/7/17 at 4:36 pm to Brosef Stalin
quote:
Are check cashing places and payday loan places considered mainstream financial institutions?
I think those would qualify as predatory lenders. You know, the ones that forced people to obtain a loan from them.
Posted on 4/7/17 at 4:36 pm to Will Cover
so tired of the bitching. Just because they are racist and have an agenda doesn't mean everyone and especially black businesses are of the same mind. Businesses especially banks only care about one color. Green.
ETA: if they want to segregate start with north br. It is primarily black. Turn it into the Mecca they dream of. Just don't start bitching when your racist business model fails.
ETA: if they want to segregate start with north br. It is primarily black. Turn it into the Mecca they dream of. Just don't start bitching when your racist business model fails.
This post was edited on 4/7/17 at 4:38 pm
Posted on 4/7/17 at 4:37 pm to Puck82
quote:
Businesses especially banks only care about one color. Green.
I agree.
However, there is a certain thought that reigns prevalent in the black community that says otherwise.
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