Tag: Black banks

Reacting to the most recent wave of shootings of Black men by police officers, thousands of African-American consumers across America are directing their dollars by opening checking and savings accounts in Black-owned banks. A grassroots effort being called a “Spend Movement” found the nation’s Black banks receiving calls and on-line requests to open accounts.

When the leaders of the National Bankers Association, an organization of 37 mostly Black-owned banks, began pondering prospective recipients of their annual “Beyond the Call of Duty Award,” its president says they did not have to look very far. No question, it was Marie Johns, deputy administrator of the U. S. Small Business Administration, he said.

In his last public message the day before he was assassinated, Dr. Martin Luther King Jr. called on Black people in Memphis to support Black banks. “We’ve got to strengthen Black institutions. I call upon you to take your money out of the banks downtown and deposit your money in Tri-State Bank,” he said ...

As African American members of Congress, we are keenly aware of the extreme economic crisis in our communities, and we are responsible for confronting the issues threatening the survival of the people and institutions we represent. We are here to reaffirm our commitment to be forceful advocates for the voiceless, and insist that all of the resources of the government, whether they be through financial assistance programs or federal contracting, exhibit a basic fairness and equality that historically has not existed.