Black Money Business Jobs : Why are black banks struggling?

Discussion in 'Black Money Business Jobs' started by Ajna, Apr 23, 2015.

  1. Ajna

    Ajna Member MEMBER

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    Currently there are 21 African American owned banks, down from 48 in 2001.
     
  2. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    Primarily, a lack of customers is the basis upon which the struggle continues; but click the date below to see what the CEO of Carver Bank has to say about it:


    Black Banks: CEO Of Carver Bank Talks About Growing Black Financial Institutions
     
  3. Kemetstry

    Kemetstry going above and beyond PREMIUM MEMBER

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    We don't support them.





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  4. Ajna

    Ajna Member MEMBER

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    Ok I will check it out. Carver bank is the largest African American bank with $638 million in assets, meanwhile the largest Asian and Hispanic owned banks are in the billions and of course banks like Wachovia have assets well into the trillions.
     
  5. Ajna

    Ajna Member MEMBER

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    Not sure if it's just that, maybe they need better marketing or something else behind the scenes
     
  6. Ajna

    Ajna Member MEMBER

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    I don't think
    Blks are rejecting pro-blk
     
  7. skuderjaymes

    skuderjaymes Contextualizer Synthesizer MEMBER

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    haven't all banks struggled in that same period of time? hasn't there been a slew of financial crisis over that same period of time?.. Does context matter?
     
  8. Kemetstry

    Kemetstry going above and beyond PREMIUM MEMBER

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    No, more like the other people's ice water is colder. In spite of the fact that they repeatedly cheat us.





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  9. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    Good deal, looking forward to reading your assessment on what the CEO of Carver Bank has to say ... In the meantime, African American banks are growing; notwithstanding the difficulty with which they operate, in comparison to Asian and Hispanic owned banks.


    Support Growing for More Black-Owned Banks


    The 24 African-American owned banks in operation today represents a sharp drop from the 30 in operation 10 years ago. The number of black-owned bank reached its peak in 2007, at 41 black-owned institutions.

    Despite this decline in raw numbers, the proportion of all U.S. banks owned by African-Americans has remained relatively steady in recent years thanks to a consolidated financial industry. Though not once in the past 10 years have black-owned banks represented more than 1% of the entire industry, it seems things haven’t gotten significantly worse.

    Still, nearly 20% of African-Americans have no connection to the traditional banking system. Some experts see that as both a cause for concern, and an opportunity for growth.


    http://www.nerdwallet.com/blog/curr...ustry-news/support-growing-black-owned-banks/

    ...


     
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