Who is tracking this new "Bank-Black" movement where blacks are being encouraged to transfer to blacks-owned banks?

2016-07-18T22:44:53-04:00

Response by PO1 William "Chip" Nagel made Jul 18 at 2016 10:50 PM

2016-07-18T22:50:15-04:00

First I've Heard but I'm sure Mazuma will love the Business they have a pretty good chunk of Federal Employees here in Kansas City.

Response by Cpl Private RallyPoint Member made Jul 18 at 2016 11:17 PM

2016-07-18T23:17:38-04:00

Honestly it sounds like self segregation. I understand the purpose, but would encourage people to shop for the bank that treats them right while giving them a healthy return on investment.

Response by SSG Trust Palmer made Jul 18 at 2016 11:34 PM

2016-07-18T23:34:06-04:00

We are aware. I don't believe that it's asking you to transfer all of your funds, but at least $100 as a start to support black owned businesses. That my understanding of it.

Response by SPC Kirk Gilles made Jul 19 at 2016 1:26 AM

2016-07-19T01:26:46-04:00

Do the research. If it's solvent and fits your financial goals do what you need to do.

Response by Cpl Justin Goolsby made Jul 19 at 2016 9:43 AM

2016-07-19T09:43:42-04:00

You know what I look for in a bank... that my money is FDIC insured. It doesn't even make sense to walk into a bank and be like "I demand to see the owner. Oh I'm sorry, we don't share a skin color, so I'm taking my money elsewhere". Seriously, I don't care if my bank is run by the Italian mob, the Japanese Yakuza or a white boy with a gambling problem. All I want is my money to be insured so that if something happens, I can get my money back.

Response by CPO Private RallyPoint Member made Jul 19 at 2016 10:46 AM

2016-07-19T10:46:09-04:00

More self styled segregation. We had a Civil war to end slavery, then almost a second one to end segregation. Now I keep hearing about the "Black" community wanting to re-segregate? What was the point of the last 70 years? What was the point of all the progress we made... well up till the last 7.5 years.

Response by LTC Paul Labrador made Jul 19 at 2016 11:04 AM

2016-07-19T11:04:57-04:00

It's your money. Do with it what you want.

Response by Col Joseph Lenertz made Jul 19 at 2016 12:21 PM

2016-07-19T12:21:39-04:00

So, why wouldn't you want to bank with the best rates and lowest fees? Why do your banking based on skin color of an owner you don't even know? Everyone should do what they want of course, but it just seems to be anti-free market. Probably why I never join boycotts.

Response by SGT Dave Tracy made Aug 8 at 2016 10:58 AM

2016-08-08T10:58:33-04:00

Not my money. Not my business.

Response by MCPO Roger Collins made Aug 8 at 2016 11:03 AM

2016-08-08T11:03:17-04:00

If that is your reasoning for choosing a bank or investment, keep up on what the benefits are for retirement with or without social Security. You will need it. I can understand it from the bank advertisements, but certainly not from an economic perspective. This sounds like a good way to lose white customers away. Color doesn't come into my equation when it comes to banking and investments, only returns.