The Black Lives Matter movement is promoting its new alliance with the “black bank” OneUnited Bank and partnering with celebrities to encourage followers to move their money out of white-owned “traditional banks.”
According to the Michigan Chronicle:
OneUnited Bank launched the #BankBlack Challenge after the summer of 2016 when America’s Black community galvanized in response to tragic events via social media, text messaging and word of mouth, answering the call to move their money from traditional banks to Black owned banks, like OneUnited Bank. The #BankBlack movement intensified when Rapper Killer Mike implored the Black community to deploy a portion of its financial resources to make a tangible difference during a town hall meeting on BET and MTV. Celebrities such as Solange, Jesse Williams, Alicia Keys, Beyonce, Queen Latifah, and others have joined the conversation urging Black people to move their money to Black owned banks.
We unveiled Amir, a painting by the acclaimed artist, Addonis Parker, during our #BankBlack event in Miami this past July, and the response has been so positive we knew we needed to put the power of “Amir” in your hands! The Amir Visa Debit Card symbolizes the continued fight for justice and the power of our dollars. Yes…#BlackMoneyMatters #BlackLivesMatter.
The second graph was pasted directly into the story from a Tuesday OneUnited Bank press release about the initiative.
The official Black Lives Matter Amir Visa Debit Card features a sexually ambiguous blue person wearing an American flag hoodie, crying while giving the peace sign. The background includes the 1968 Olympics Black Power salute.
The tagline: “make history #BANKBLACK #BLACKLIVESMATTER”
Bank and BLM leaders timed their efforts to “organize black America’s spending power” – estimated at $1.2 trillion – to coincide with Black History Month.
“Black economic power is a critical piece of the Black freedom struggle,” BLM organizer Melina Abdullah told the Chronicle. “Our partnership with OneUnited Bank during Black History Month honors the legacy of freedom fighters who walked before us, like Ida B. Wells, the architects of Black Wall Street in Tulsa, Oklahoma, and others who encouraged us to utilize our dollars intentionally as a means of making ourselves, our families and our communities strong.”
Last summer, National Bankers Association President Michael Grant told the Chronicle that banking black is nothing new, but the idea has gained new momentum amid racial tensions that erupted during Obama’s tenure.
“This is a movement that began over 100 years ago but had become dormant as a consequence of racial integration,” he said.
But “thousands have been mobilized to protest with their spending power” through the relentless focus of Black Lives Matter on shootings between police and blacks, Grant said.
“Many African-American consumers are linking the shootings with a sense of powerlessness, feeling undervalued and disrespected,” he said.
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