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Justene Hill Edwards, "Savings and Trust: The Rise and Betrayal of the Freedman's Bank" (Norton, 2024)

New Books in Economic and Business History

CHAPTER

The Freedmen's Bank: Origins and Challenges

This chapter explores the establishment of the Freedmen's Bank, tracing its roots to military savings banks during the Civil War and the successful deposit activities of Black soldiers. It highlights the marketing strategies and the complex relationship between the bank’s white administrators and Black depositors, revealing significant misalignments in their expectations. The chapter also discusses the bank's evolution into a commercial institution and the regulatory challenges it faced in serving the African American community.

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