Discussion in 'Black Money Business Jobs' started by Ajna, Apr 23, 2015.
Currently there are 21 African American owned banks, down from 48 in 2001.
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
We don't support them.
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.
Not sure if it's just that, maybe they need better marketing or something else behind the scenes
I don't think
Blks are rejecting pro-blk
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?
No, more like the other people's ice water is colder. In spite of the fact that they repeatedly cheat us.
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.
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