I was looking at some recent articles at CNBC and came across one that caught my eye entitled “‘Banking black’ becomes the latest form of social protest:”
For some, the fight for social equality is moving to a new battleground: the banking sector.
In the midst of a national debate about how to address police brutality and economic inequality, a quiet shift has taken place. Participants in a nationwide movement to deploy African-American spending power in a more targeted fashion have funneled deposits into black-owned banks across the country. Dubbed the “Bank Black” campaign, proponents have called for using black wealth to create positive change in an increasingly fractured society.
“There is an awakening for the black community to utilize our $1.2 trillion in annual spending power to create jobs and build wealth in our community,” Teri Williams, president and COO of One United Bank, told CNBC in a recent interview. One United has the dual distinction of being both the largest black-owned bank, and the first black internet bank in the country.
If you are white and want to bank at one of these banks, are you allowed? People can bank where they want but to have banks exclusively for one race seems, well, racist.
What do readers think of “banking black”?