Tag: Black Banks

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Business

Black-owned banks face challenges

The once-towering stature of the Black bank has diminished. After almost 125 years of serving the underserved, the Black banking community has been brought to a new low by a shrinking clientele, questions of relevance, competition from big banks and the fluctuating fortunes of its traditional client base—churches, small businesses and lower- and middle-income Blacks, who have borne the brunt of the economic recession.