Importance of Modernization of Black Owned Banks

There are 144 minority-owned financial institutions in the U.S. with $322 billion in total assets, 19 are Black-owned banks.

Policymakers are seeking new ways to support Black financial institutions and help them compete with larger mainstream banks.

Nicole A. Elam, President and CEO of the National Bankers Association and executive director of the National Bankers Community Alliance, joins Aisha Mills on “AMplified” to talk about how Black banks are faring and what’s being done to modernize them.

All this and more on “AMplified.”

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