Merger Of Two Black-led Banks Aims To Help Break Painful Cycle

Los Angeles’ Broadway Federal Bank and Washington, D.C.’s City First Bank are merging to form the largest Black-led bank in the U.S., underscoring the challenges such banks have faced in generating enough capital to effectively serve their communities. Black-owned and -led banks have long been caught in a difficult cycle: They tend not to have enough money to… Lees meer