After the Civil War, the Freedmen’s Bureau and its bank were established to help transition newly freed enslaved Blacks into citizenry. Unfortunately, the Bureau and its bank had a sordid, corrupt history that marked the beginning of a cultural legacy of mistrust by the Black community towards banking institutions and creation of the systemic wealth gap between Blacks and whites that continues to this day. Join Dr. Carol François and Kourtney Square as they trace the rise of one 19th Century Black owned bank, the empire it created, and the role of Black owned banks in America today. Want more? Go to https://www.podpage.com/why-are-they-so-angry/ for more unknown and untold history.
Citations
"A Sense of Their Own Power": Black Virginians, 1619-1989 (Jul., 1989), The Virginia Magazine of History and Biography Vol. 97, No. 3, pp. 375-398
After years of banks overcharging and undervaluing Black customers, 'banking Black' is gaining popularity as an effective way to fight systemic racism
An analysis of financial institutions in Black-majority communities: Black borrowers and depositors face considerable challenges in accessing banking services
Champion of the Black Community Is Given Her Rightful Due in Richmond | Smart News | Smithsonian Magazine
Dr. Malika Mitchell-Stewart of Houston sues Chase Bank for denial of service while trying to deposit a check for $16,000
Ex-Inmates Struggle in a Banking System Not Made for Them - WSJ
Follow the Money: How the Big Banks Fund Systemic Racism | Sierra Club
Fossil Fuel Industry Pollutes Black & Brown Communities While Propping Up Racist Policing – Eyes on the Ties
'Racial bias runs deep' at America's largest banks, study says - CNN
Second-Largest Black-owned Bank Receives $3M Deposit to Help Minority-owned Businesses
The Legacy of Racism in the Banking Industry | NorthOne
The Racialized Costs of Banking
This Is What Racism Sounds Like in the Banking Industry - The New York Times
The True Reformers Bank https://www.blackpast.org/?s=True+reformers
What's in Your Wallet? Racism, If You Have a Capital One Credit Card | by Louis L. Reed | Jan, 2022 | Medium
