Since you you don’t know what you’re talking about I’ll give you some sources to help you understand.
This an a African American who worked hard and is worth 13 million. Recorded his conversation at JP Morgan Chase.
Nearly two-thirds of consumers say their main reason for not having a checking or other bank account is because they do not have enough money, such as for affording the minimum opening deposit, minimum account balance, and maintenance fees.13
2/3s of Americans.
This might be the kind of thing you would want to know a little bit about before you can diagnose a socioeconomic problem such as racism.
If you don’t understand the landscape of America you can’t accurately assess the problems within that landscape.
The truth is that something like 70% of Americans live paycheck to paycheck regardless of race. But when you consider African Americans you have to consider that because historically they inherit less family money because they were enslaved when family wealth was supposed to be built. They often always make up the most disenfranchised segment of the already disenfranchised.
In America African Americans are deemed as a credit risk. Not because they don’t want to pay it back but because they make less money on average than their white counterparts. In America your skin color can often make the difference between someone taking a financial risk on you and not taking that risk. It’s just how America functions at the present moment. But if you don’t have that context your assessment is sort of lacking support.
New research suggests that Black business owners seeking PPP loans are treated less favorably than white applicants. The study, conducted by the National Community Reinvestment Coalition, used match-paired testers, a common method for showing discrimination in housing, lending and employment. In 43% of cases, Black borrowers who contacted banks were offered less information about PPP loans, were discouraged from becoming new banking customers, or were offered less favorable products, compared with slightly less qualified white borrowers. Many Black testers were subjected to multiple forms of discrimination
