The number of black-owned banks in the U.S. continues to decline, at a time when many African-American communities are still coping with the effects of the mortgage crisis and are in need of basic financial services. Black-run banks took a bigger hit from the housing crisis than the banking industry at large, and they’ve struggled financially in recent years as the communities they serve have suffered higher-than-average job losses and home foreclosure rates.

Foreclosure News



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