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Black-owned banks are a shrinking part of the American financial system. There are currently only 21 Black-owned banks in the U.S., down from 36 a decade ago. Collectively they control just $4.8 billion, less than 1% of the nation's banking assets. (Original article by Stacey Vanek Smith & Darius Rafieyan, 07/08/20).
This study set is authored by Quizlet to provide a deeper understanding of the original NPR material, and is intended to be used by students and teachers as a study supplement.
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Agencies and businesses that fund their operations by acquiring, investing, and lending money. Within the context of the podcast, the term primarily refers to banks, which take in money through deposits and provide money through loans. The Bank Black Movement encourages people and businesses to deposit money in Black-owned banks rather than large national banks that have no specific interest in improving the financial stability of Black businesses and families.
One of the primary leaders of the civil rights movement. He created the Southern Christian Leadership Conference, an organization that employed a strategy of nonviolent civil disobedience to gain equal rights. The night before he was assassinated, he called on residents of Memphis to pull money out of their current banks and deposit it in a Black-owned financial institution.