St. Louis City treasurer Tishaura O. Jones on the legacy of mistrust not just of banks, but of government, sewn by the Freedman’s Bank….
“The mere existence of the Freedman’s Bank answers the age-old question of why generation after generation of African Americans do not trust government institutions.
“In a 2014 survey of low income communities of color and their banking habits, it was discovered that over 50 percent of people of color learn lessons about finances, good or bad, from family. If your parents kept their money in their mattress or used money orders to pay all of their bills, then you are more likely to as well.
“The history of the Freedman’s Bank gives African Americans an all-too-poignant lesson about trusting banks and the federal government….”
Continued at The St. Louis American…