These Black-Owned Banks Just Received Millions To Help Serve Underbanked Communities

These Black-Owned Banks Just Received Millions To Help Serve Underbanked Communities

Essence Magazine:

By Jasmine Browley ·Updated February 4, 2024

Just 16% of Americans are considered to be “underbanked,” but 27% of Black people are underbanked. This refers to their lack of savings or checking accounts and dependency on predatory payday lenders, and currency exchanges for their money services.

KeyBank is aiming

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