The Washington Informer
Author and Orator Frederick Douglass to Be Honored in New Special Exhibit at American Writers Museum
American Writers Museum
By 1871, Congress had authorized the bank to provide mortgages and business loans. Such mortgages and loans, however, were usually given to whites, creating a financial paradox -— a bank using the savings and income of black depositors to advance the economic fortunes of whites who had at their disposal mainstream banks that excluded blacks.
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