Black-owned banks are booming, and they're pouring money back into their communities

Black-owned banks are booming, and they’re pouring money back into their communities
An estimated $150 million in equity capital has been invested in Black-owned banks since George Floyd was murdered last year, according to the National Bankers Association, a trade group that represents 24 of the country’s minority-owned financial institutions.
Those funds have put the nation’s Black banking community in a stronger position today than it was a year ago, according to the group’s board Chairman Robert E. James II.
“Our banks can now leverage that into $1.5 billion to serve minority communities,” James told CNN Business.
The cultural movement to support Black-owned banks along with other African American businesses received a major boost in the aftermath of Floyd’s murder on May 25, 2020, as many corporate leaders and everyday Americans sought ways to address longstanding socioeconomic disparities between Black and White America.

Related Keywords

United States , Miami , Florida , Americans , American , Roberte James , Los Angeles , Nicole Elam , Kim Saunders , Kevin Cohee , White America , George Floyd , National Bankers Association , Oneunited Bank , Cnn , Chairman Robert , African American , One Transaction , Buy Black , ஒன்றுபட்டது மாநிலங்களில் , மியாமி , புளோரிடா , அமெரிக்கர்கள் , அமெரிக்கன் , லாஸ் ஏஞ்சல்ஸ் , நிக்கோல் ஏழாம் , கிம் சாண்டர்ஸ் , கெவின் கோஹீ , வெள்ளை அமெரிக்கா , ஜார்ஜ் ஃப்லாய்ட் , தேசிய வங்கியாளர்கள் சங்கம் , சின்ன , தலைவர் ராபர்ட் , ஒன்று பரிவர்த்தனை , வாங்க கருப்பு ,