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Freedom National Bank
Freedom National Bank was an African-American owned bank in Harlem (New York City) founded in 1964 and shut down in 1990. Freedom National served Harlem's Black community and was one of the largest Black owned banks in the U.S. Its main office was at 275 West 125th Street. History Freedom National Bank was founded in 1964 by investors including Jackie Robinson and Dunbar Simms McLaurin (1920–1973). ''The New York Times'' referred to it as "biracial" when it was founded in 1964. A 1966 ''Harvard Crimson'' article was critical of the bank. Freedom National competed with another Black owned and focused bank, the older Carver Federal Savings and Loan Association (now Carver Bancorp). Freedom National failed in 1990 during a recession as it faced loan defaults and internal division. When it was shut down, Freedom National had $101.9 million in assets, two branches in Brooklyn, 22,000 depositors, and 97 employees. The bank had also struggled in the mid-1970s but was able to return ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
African Americans
African Americans (also referred to as Black Americans and Afro-Americans) are an ethnic group consisting of Americans with partial or total ancestry from sub-Saharan Africa. The term "African American" generally denotes descendants of enslaved Africans who are from the United States. While some Black immigrants or their children may also come to identify as African-American, the majority of first generation immigrants do not, preferring to identify with their nation of origin. African Americans constitute the second largest racial group in the U.S. after White Americans, as well as the third largest ethnic group after Hispanic and Latino Americans. Most African Americans are descendants of enslaved people within the boundaries of the present United States. On average, African Americans are of West/ Central African with some European descent; some also have Native American and other ancestry. According to U.S. Census Bureau data, African immigrants generally do not se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harlem
Harlem is a neighborhood in Upper Manhattan, New York City. It is bounded roughly by the Hudson River on the west; the Harlem River and 155th Street (Manhattan), 155th Street on the north; Fifth Avenue on the east; and 110th Street (Manhattan), Central Park North on the south. The greater Harlem area encompasses several other neighborhoods and extends west and north to 155th Street, east to the East River, and south to Martin Luther King, Jr., Boulevard (Manhattan), Martin Luther King Jr. Boulevard, Central Park, and 96th Street (Manhattan), East 96th Street. Originally a Netherlands, Dutch village, formally organized in 1658, it is named after the city of Haarlem in the Netherlands. Harlem's history has been defined by a series of economic boom-and-bust cycles, with significant population shifts accompanying each cycle. Harlem was predominantly occupied by Jewish American, Jewish and Italian American, Italian Americans in the 19th century, but African-American residents began to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the List of United States cities by population density, most densely populated major city in the United States, and is more than twice as populous as second-place Los Angeles. New York City lies at the southern tip of New York (state), New York State, and constitutes the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the world by urban area, urban landmass. With over 20.1 million people in its metropolitan statistical area and 23.5 million in its combined statistical area as of 2020, New York is one of the world's most populous Megacity, megacities, and over 58 million people live within of the city. New York City is a global city, global Culture of New ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jackie Robinson
Jack Roosevelt Robinson (January 31, 1919 – October 24, 1972) was an American professional baseball player who became the first African American to play in Major League Baseball (MLB) in the modern era. Robinson broke the baseball color line when he started at first base for the Brooklyn Dodgers on April 15, 1947. When the Dodgers signed Robinson, it heralded the end of racial segregation in professional baseball that had relegated black players to the Negro leagues since the 1880s. Robinson was inducted into the Baseball Hall of Fame in 1962. During his 10-year MLB career, Robinson won the inaugural Rookie of the Year Award in 1947, was an All-Star for six consecutive seasons from 1949 through 1954, and won the National League Most Valuable Player Award in 1949—the first black player so honored. Robinson played in six World Series and contributed to the Dodgers' 1955 World Series championship. In 1997, MLB retired his uniform number 42 across all major league teams; h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital subscribers. It also is a producer of popular podcasts such as '' The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national " newspaper of record". For print it is ranked 18th in the world by circulation and 3rd in the U.S. The paper is owned by the New York Times Company, which is publicly traded. It has been governed by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded. A. G. Sulzberger, the paper's publisher and the company's chairman, is the fifth generation of the family to head the pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Harvard Crimson
''The Harvard Crimson'' is the student newspaper of Harvard University and was founded in 1873. Run entirely by Harvard College undergraduates, it served for many years as the only daily newspaper in Cambridge, Massachusetts. Beginning in the fall of 2022, the paper transitioned to a weekly publishing model. About ''The Crimson'' Any student who volunteers and completes a series of requirements known as the "comp" is elected an editor of the newspaper. Thus, all staff members of ''The Crimson''—including writers, business staff, photographers, and graphic designers—are technically "editors". (If an editor makes news, he or she is referred to in the paper's news article as a "''Crimson'' editor", which, though important for transparency, also leads to characterizations such as "former President John F. Kennedy '40, who was also a ''Crimson'' editor, ended the Cuban Missile Crisis.") Editorial and financial decisions rest in a board of executives, collectively called a "guar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carver Bancorp
Carver Federal Savings Bank, opened under the leadership of M. Moran Weston in 1948, is the "largest black-owned financial institution" in the United States. Carver Bancorp, Inc. is its holding company. The bank has been designated by the U.S. Treasury Department as a Community Development Financial Institution (CDFI). History The bank applied for a federal charter "after the state had denied it a charter," and opened "in a simple storefront." Carver Federal Savings Bank was not the first bank named after George Washington Carver. Four years earlier an unrelated bank, Carver Savings and Loan Association, opened in Omaha, Nebraska. Neither of these were the first Black-owned American bank. Carver Federal Savings, however, is the largest and oldest continually Black-operated U.S. bank. M. Moran Weston already had earlier experience as the 1945-founder of a credit union, and, for Carver, had a supporting team of 14. Carver Federal Savings Bank served multiple purposes: * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures credit unions. The FDIC is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this was increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Failures In The United States
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1964
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Disestablished In 1990
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks Of The United States
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Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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