Carver Federal Savings Bank, the largest Black-run bank in the U.S. is the latest bank to be bailed out. Carver Federal Savings received a $55 million cash rescue from key investors including Citigroup, Goldman Sachs, Morgan Stanley. See also: Bank Of America Website Issues Continue “This represents a significant shift from community ownership to corporate,” said […]

With the increasing scrutiny of major banks, many people are considering leaving their banks for smaller institutions or credit unions. Returning to Black-owned banks may actually benefit many African-Americans who are unhappy with the major institutions, according to BET.com Historically, Black-owned banks were important institutions in the African-American community that provided loans and services to […]

Minority-owned banks are working to get the word out. “Support Your Own,” is the tagline the National Bankers Association is promoting to attract more minority consumers to deposit their money and withdrawals with minority banks. The association, made up of a collection of African-American, Hispanic-American, Asian-American and Native-American-owned banks, hopes its efforts will warrant a […]