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Is Your Money Safe at a Minority-owned Bank?

Yes. By quickly ring-fencing SVB and saving depositors, the Fed showed it is becoming more of a learning organization. Combined with its excellent performance managing the worst inflation spike in 40 years, instigated by the worst pandemic in 100 years, the Fed demonstrated an ability to quickly adjust when circumstances demand flexibility. (See: https://www.impactinvesting.online/2023/03/the-fed-and-svb.html)

Their new Bank Term Funding Program (BTFP), a key protection (or bailout) for depositors, sounds like the fund we suggested for Black banks in October 2019: Economist Offers $50 Billion Federal Solution to the Black Banking Crisis - (https://www.blackenterprise.com/black-banking-crisis-economist-offers-50-billion-solution/ )

Also see: National Bankers Association Assures Consumers Their Money Is Safe At Minority Banks Amid Financial Meltdown - https://www.blackenterprise.com/black-trade-group-assures-consumers-their-money-is-safe-at-minority-banks-amid-financial-meltdown/ 

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